Interesting blog from Charlemagne over at the Economist.
I've been banging on on this blog for a long time about the importance of EU engagement, EU lobbying and that there's no such thing as a policy of safe disinterest.
Looks like the hedge funds are a perfect example. I've heard today in the news that the hedge fund managers are up in arms over the latest EU proposals which they say would fundamentally alter the way they work, and do not seem to understand the world of hedge funds.
It's very simple. No legislator wants to legislate without some knowledge of a sector and can only work with the information that is out there. If you don't engage, how can anyone know whether what's proposed is going to affect you?
1) Look at whatever version of a Treaty is in force...
(clue: at the moment it's Nice - Lisbon is still not quite there on the ratification...);
2) Is there something in there that in some way refers to the area you work in?
(think broad rather than looking for mention of e.g. "financial services" rather than "hedge funds can specifically be subject to regulation at EU level");
3) If there is, is there any legislation at EU level?
(try EURLEX. If so, then this is an area of active European competence that you really need to keep an eye on);
4) If there is not, do you think you needn't bother about the EU?
(clue: if there's a European Council conclusion that mentions it, you can look forward to something soon. If it's in the treaty, it either an area of competence, or of complementary comepetence, whether it's exercised by the European Commission to date or not)
;
5) Decide how much and what sort of engagement you want...
- direct, with you or your staff contacting the relevant MS government (who set the national position that covers you), the European Commission desk officer (part of a relatively small team handling the subject and who will almost certainly want to hear from you th expert!) and key interested MEPs (on the right committees) plus higher level contacts both administrative and political...
- indirect, via industry lobby groups;
- indirect via a paid public affairs organisation.
There are of course advantages and disadvantages to each, and the various options are not mutually exclusive.
I know that there's a bit of a lack of understanding about how the EU works, and what can actually be done in Brussels, particularly in the EU.
I've said before that I don't think that the media has helped further EU understanding in the UK and lazy and/or deliberately misleading reporting has actually hindered.
I simply don't understand how you can consider yourself to be a professional, especially in business, and assume that you can ignore the EU.
You can of course choose to dislike it, feel it should not be involved in the regulation of your business area, campaign for your country to not be part of it. That's your choice, politically. But disengagement? It just doesn't make business sense.
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