SPECIAL PURPOSE VEHICLE RUNS OVER EU LEADERS ON FIRST OUTING

In 1930, one of the dignitaries present at the opening of the Liverpool and Manchester Railway, the MP and ex-Secretary of State for War and the Colonies (try getting away with that title nowadays), William Huskisson, was run over by Stephenson’s Rocket and died later of his injuries.

Don’t get me wrong; “runs over” is purely metaphorical, the reason being that this Special Purpose Vehicle isn’t actually a vehicle with wheels – it’s a mechanism to get around the trade sanctions imposed on Iran by the Leader of the Free (Trade) World, President Donald Trump. The EU Foreign Policy Head, Federica Mogherini. declared:

“EU member states will set up a legal entity [the SPV] to facilitate legitimate financial transactions with Iran and this will allow European companies to continue to trade with Iran in accordance with European Union law and could be open to other partners in the world,”

Honestly, could they not have thought up a better and less confusing name? The ‘FYT’ immediately springs to mind – you can guess what the initials stand for.