William Dartmouth, UKIP trade spokesman, says questions must be asked about Rake, the EU millions his CBI members soak up, the $2.4bn fine for fraud at the bank of which he is deputy chairman, and his insistence that the euro is a "great success."
•William Dartmouth, UKIP spokesman on trade and MEP for the South West and Gibraltar, said: "Sir Mike Rake this week used his position as president of the CBI to tell British business they must 'turn up the volume' on the benefits of EU membership, but he did not mention that the biggest of his members, including the BBC, take tens of millions of pounds of hand-outs from the EU institutions."
"Worse, within hours of his speech we learned that Barclays Bank, of which he is deputy chairman, was to be fined $2.4bn by the US authorities for fraud in its foreign exchange dealings. But Rake won't 'turn up the volume" on how much rigged forex cost British business during the years Barclays was cheating in a $5.3tn a day market."
"Rake is the same man who in 2003 called for the UK to join the euro, and even after the 2008 financial crash said: 'The euro is a great success, and in today's global economy, the pound is no longer an important currency. If we are not careful, we could become like Iceland in the next financial crisis.'"
Dartmouth said: "Rake's judgement on EU matters has been so consistently wrong that one wonders why he does not blush every time someone puts a microphone in front of him. It remains a mystery how he has the nerve to offer advice to anyone on anything."