Sunday, 26 October 2008

Peter Mandelson’s last act as European Trade Commissioner

From The Independent on Sunday.

"Peter Mandelson’s last act as European Trade Commissioner was to advocate new trade rules that will directly benefit the Russian oligarch Oleg Deripaska. Less than a month ago, in one of his final speeches before being recalled to the Cabinet and after he accepted hospitality on the Russian’s yacht, Lord Mandelson announced a new EU trade strategy giving multinational companies freer access to raw materials, including scrap aluminium and natural minerals used in the production of the metal. Mr Deripaska owns Rusal, the world’s largest aluminium producer, which has subsidiaries in Europe. The companies import both scrap aluminium and aluminium-containing minerals from Africa and India. The new rules would exempt such companies from paying expensive export duties, to the anger of development charities.”

Apparently you could get 10/1 on Mandelson having to resign (again) from the government before the end of this parliament. Odds are now 3/1 and shortening!

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