HFT is not banned. You can do HFT if you have 1M euro and are certified by the government. This is about who is controlling the market not about HFT. EU bureaucracy cannot stand free markets. They need to print lots of bonds without anybody checking what they are worth.
criminal charges with a lobbyist $5 mil without 1.7 mil and 33 months for foodstamps http://www.reuters.com/article/2012/09/26/us-usa-foodstamps-idUSBRE88P1K320120926 http://www.reuters.com/article/2012/10/01/us-markets-tech-breakdowns-idUSBRE88T0NF20121001