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Very quickly: the mere fact that something has happened before doesn't make it desirable or right. We have had a world war before. It was no fun. Why should others pay? Because the Commission does not share your point of view. You can't go one way when it suits you and the other way when it's more expedient. Make a choice, then stick to it. Why should pension funds pay for their own supervision? See my arguments above, to which I would add that as long as the Commission fails to understand the difference between pension funds and insurance companies, the supervision can only be bad, if not outright inappropriate. Why should anyone pay for that?

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