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President of CBI, Barclays Deputy Chairman has explaining to do over his bank's implication in FIFA scandal - UKIP
Date 29/05/2015 19:06  Author webmaster  Hits 1372  Language Global
Press release

UKIP Trade Spokesman William Dartmouth MEP, demanded that CBI President, and deputy chairman of Barclays Bank, Sir Michael Rake explain what part his bank has allegedly had to play in the FIFA funding scandal.

Today, Barclays and HSBC
have been named in legal papers filed by the US Department of Justice after millions of dollars in suspect transactions linked to FIFA were allegedly moved through their accounts.

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.
 
"Today we hear that Barclays has been named in US court papers alleging involvement in the FIFA scandal, namely handling suspicious transactions. I would ask the CBI president to explain his bank’s role in the FIFA debacle. How can the CBI have any credibility with the British public on matters of the EU, when it would appear its president seems to have shown such poor judgement.

"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."
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