The Great Debate UK
-Laurence Copeland is a professor of finance at Cardiff University Business School and a co-author of “Verdict on the Crash” published by the Institute of Economic Affairs. The opinions expressed are his own. -
As far as I am aware, you cannot buy insurance against speeding tickets (please, someone let me know if I am wrong!).
This is so because motorists who were insured would be more likely to ignore the speed limit and hence cause more accidents, which is bad for society and bad for insurers.
It would also have the drawback that, however finely the insurers calibrated their quotations, the more patient driver would end up having to pay a higher premium so as to subsidise the less patient.
The European Union is in danger of getting camels for its two new leadership positions -- president of the European Council and foreign policy High Representative -- because of the dysfunctional appointment process created by the Lisbon Treaty.
The secretive horse (or camel)-trading by which EU governments choose the 27-nation bloc's top office-holders seems designed to deter strong candidates and produce lowest-common-denominator outcomes. Some of the most able potential contenders would rather stay at home than take the key jobs to Brussels.
The EU show is back on the road. Sixteen months after Irish voters brought the European Union's tortured process of institutional reform to a juddering halt by voting "No" to the Lisbon treaty, the same electorate has turned out in larger numbers to say "Yes" by a two-thirds majority.
This is an immense relief for the EU's leadership. After three lost referendums in France, the Netherlands and Ireland, and a record low turnout in this year's European Parliament elections, the democratic legitimacy of the European integration process was increasingly open to question. The Irish vote will not completely silence those doubts. Opponents are already accusing the EU of have bullied the Irish into voting again on the same text, and of blackmailing them with economic disaster if they did not vote the right way this time.