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What is the EU plan and how will it affect Britain?

The comments to Ambrose Evans-Pritchard's column include: Financial armaggeddon, hysteria, the old story - rescuing the bankers by bilking us - and another ratcheting of EU powers - making financial decisions without consulting member states and levying a new tax, the Tobin tax, on the City of London, to keep bureaucrats on the gravy train.

All possibilities appear to be on offer, including this: "From time to time there is a cull of small investors. Rumours are generated persuading them to buy at the wrong time and likewise to sell. Hence a small group accumulate, to themselves, the modest wealth of those naive people. The FTSE is no measure of the economy. It is merely the bookmaker's blackboard."

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