Thread: Brexit - It's Still On!

who cares, you won't be part of the EU in any decision making progress, and that's all that matters

huge victory right there, thank you so much BoJo

Originally Posted by taxexile

dont worry, be happy. its a long game s.a. and really, in spite of all the predictions and gloomy forecasts, the uk will, after a bumpy year or two, be just fine.

graphs, flowcharts, stats. they may chart the past, but they are rarely accurate about the future. take no notice of them.

amen to that, don't worry, be happy, UK is fooked, and the world is a better place for it

Originally Posted by taxexile

dont worry, be happy. its a long game s.a. and really, in spite of all the predictions and gloomy forecasts, the uk will, after a bumpy year or two, be just fine.

graphs, flowcharts, stats. they may chart the past, but they are rarely accurate about the future. take no notice of them.

amen to that, don't worry, be happy, UK is fooked, and the world is a better place for it

Originally Posted by Bettyboo

At every point the remoaners have been proven wrong, on every single tangible issue and marker.

I see the next few years being very similar; the EU will struggle more than the UK. &, if I'm wrong then seems as I live in Korea, not to worry...

Have you lost your marbles?

What happened to the pound after Brexit awas announced?

How much money has the UK wasted on Brexit?

You are quite, quite mad.

Amazing isn’t it.
If the UK had such prospects under labour then these loonies would think it was the end of days.

It is the end of days, the end of our EU days.

Labour are so owned by momentum that Nicola Sturgeon has more chance of being Prime Minister before Labour gets another sniff again.

Not long till British Independence day

I'll just leave this here (from today's Times):

Johnson’s deadline will deliver Brexit trade deal, says UBS chairman Axel Weber | Business | The Times

One of Europe’s leading business figures has backed the government’s hard deadline for a trade deal with Brussels and has predicted an economic boost for Britain, despite concerns that Boris Johnson’s timetable threatens a no-deal Brexit.

Axel Weber, chairman of UBS, the Swiss investment bank, said that the December 31 deadline would drive talks forward and he was confident that a deal would be reached.

“Time pressure is helpful. Keeping the time pressure on is important here,” he told the World Economic Forum.

The former head of the German central bank said that the prime minister’s majority would provide clarity that would help to deliver a deal, claiming that investment was already flooding back to the UK. “Some of the investor strike, we [are] seeing that disappear. People are coming off the sidelines and that’s going to be very good for the economy,” he said.

Patrick Thomson, chief executive of JP Morgan Asset Management in Europe, which handles $400 billion of client funds, said that investment would return to the UK this year. “We’re pretty excited about the UK,” he said. “There is a lot of demand. One thing inhibiting it has been the lack of clarity over Brexit. That, to a large extent, has now been lifted.”

Mr Weber said that the trade deal would not be finalised by the end of the year, but it would be enough for business and investors to press ahead with their plans.

Originally Posted by Bettyboo

At every point the remoaners have been proven wrong, on every single tangible issue and marker.

I see the next few years being very similar; the EU will struggle more than the UK. &, if I'm wrong then seems as I live in Korea, not to worry...

Quite simply, you are in another world clearly incongruent with anything remotely approaching reality.

^

Morning SA.

UBS............"the investment bank"..............


Oh PAG, you are as bad as Tax and the other fantasists hoovering up "feel good" pap bolstering the sunny uplands rubbish churned out through the Goebbels Cummings machine.

The inward investment that will flow has some way to go to match the 20% per annum FDI that went missing for the past three years but anyone who claims that there is certainty now in the UK's relationship with the EU is a raving lunatic.

A minority bankster on the margins of financial life is claiming something is possible that every EU minister and official, from Barnier to Weyand, has said is impossible i.e. a deal can be agreed by 31 12 20??

A deal is possible of course but that would mean the ERG/Goebbels/BoJo fanatics giving up their fantasy world and acknowledging the economic reality that alignment and frictionless trade in a single market is the way to go.

But we know that is not going to happen.

Originally Posted by Seekingasylum

UBS............"the investment bank"..............


Oh PAG, you are as bad as Tax and the other fantasists hoovering up "feel good" pap bolstering the sunny uplands rubbish churned out through the Goebbels Cummings machine.

The inward investment that will flow has some way to go to match the 20% per annum FDI that went missing for the past three years but anyone who claims that there is certainty now in the UK's relationship with the EU is a raving lunatic.

A minority bankster on the margins of financial life is claiming something is possible that every EU minister and official, from Barnier to Weyand, has said is impossible i.e. a deal can be agreed by 31 12 20??

You may well be right SA, however I think your description of Axel Weber, Chairman of UBS and former head of the German Central Bank, as a 'minority bankster' might be a tad denigrating, as indeed your chuckle of UBS 'the investment bank'.

Awards | UBS Global topics

Ahh, UBS, the bank that managed to lose $2 billions in 2011 by allowing an incompetent to have authority and the bank that has to set aside $5 billions for tax evasion and money laundering penalties, the bank that drafted in Weber to give it a gravitas that is in truth as flimsy as its governance is weak and ineffectual .......unless of course you are a money laundering tax evading carpetbagger.

As I said......UBS, an investment bank???

indeed, Betty, while the UK will collapse economically, France, Germany and the rest of the EU will survive

Thanks for your support, old friend

Originally Posted by Bettyboo

the other fools

OI!

Originally Posted by panama hat

OI!

No, not you...

I don't wanna say, but one rhymes with Byrille, Dyrille and Syrille.

You are not "getting" Brexit, Batty, you are leaving the EU's socio-economic association and forfeiting its membership benefits but at the same time the government of orcs are desperate to retain some of the advantages, a process for which you will have to negotiate over a prolonged period.

The EU project is neither failing nor winning, it remains what it is, an economic association in which each member state enjoys the four freedoms permitting unfettered trade among their 500 million citizens.

And that's it.

And if you fail to negotiate for those benefits you will be a third country no different to, say, Paraguay or Qatar.

It has taken three years for the withdrawal agreement to be negotiated and ratified but this agreement merely provides a transitional phase permitting negotiations that most sane folk expect to take at least five years to complete, and sets out a legacy of protection for EU citizens living in the UK and Brits in the EU - after all, we have formed a relationship of over 45 years in which myriad protocols, processes, agreements and treaties with the entire Continent have been melded and untying these will take considerable time and effort.

But the Clown and his buffoons have successfully duped many million Brits, including you evidently, into believing Brexit has been "done".

The stupidity of course is self evident but its sheer depth remains a continuing shock to most of us who have functioning brains.

The WA should have been ratified by 30 3 19 allowing for at least two years for these negotiations to determine a substantive post-brexit relationship but the continuing ERG resistance to May has delayed that until now. A year has been lost but the BoJo Clown and his Orcs refuse to extend the negotiations to compensate.

If it transpires this is mere bluff by the Orcs then so be it, the EU are infinitely more mature and reasonable and can no doubt accommodate the British puerility but if Goebbels Cummings is determined to get WTO status then in the end it is no skin off the EU nose, they are the big boys and Britain will simply be an oddity permitting money laundering and tax evasion, and can be Europe's bargain basement shopping mall and cheapo fun destination for drink, drugs and football.

All up to the Orcs but the Clown had better get his skates on, October is the practical deadline this year if he wants to play hardball.

^ it was an economic exercise, a free-market, but that changed a long time ago with layers of bureaucracy, desire for aligned monetary policy, its own army, influence and power to rival NATO/USA - a good old co-operative got corrupted by those who got the taste for power then wanted more for themselves. Same old, same old...

Quite an interesting piece today in that bugle of all things Remain, The Guardian:

Who pays for the EU's €1tn green deal?

Hans-Werner Sinn

Under its president, Ursula von der Leyen, the European commission has big plans to address climate change. With a €1tn ($1.1tn) investment package, it hopes to transform Europe into a carbon-neutral economy by 2050.

But much of that €1tn for the commission’s proposed green deal would be generated through financial-leverage effects. In 2020, the EU will formally allocate for such purposes only around €40bn, most of which is already included in the budget from previous years; arguably, only €7.5bn of additional funding under the plan would actually be new.

As with the previous commission’s 2015 Juncker plan, the trick, once again, will be to muster the lion’s share of the quoted sum through a shadow budget administered by the European Investment Bank (EIB). The commission, after all, is not allowed to incur debt; but the EU’s intergovernmental rescue and investment funds are.


In essence, the EU is doing what the major banks did before the 2008 financial crisis, when they circumvented regulation by shifting part of their business to off-balance-sheet conduits and special-purpose vehicles. In the case of the EU, the guarantees offered by the commission and individual EU member states are sufficient for a high credit rating, and thus for the issuance of European debenture bonds. The funds generated will be used for public and private purposes, and sometimes even for public-private partnerships. But should the guarantees be called in one day, eurozone taxpayers will be the ones to foot the bill.

These planned shadow budgets are problematic, not only because they would allow the commission to circumvent a prohibition against borrowing, but also because they implicate the European Central Bank. To be sure, the ECB president, Christine Lagarde, has already announced that she wants the bank to play a more active role in climate-friendly activities within the eurozone. And the ECB is now considering whether to pursue targeted purchases of bonds issued by institutions that have received the commission’s climate seal of approval.

In practice, of course, this most likely means that the ECB would buy up the “green” bonds now being devised by the EIB. Those purchases will then reduce the interest rates at which the EIB can take on debt, ultimately leading to activation of the printing press to provide the money for spending on climate policy.

It is laudable to want to do something about climate change. But under the current plan, the ECB would be pushed into a legal grey area. The institution is not democratically controlled, but rather managed by technocrats on the executive board. Every member state, big or small, appoints its own representative, who then has equal voting rights, personal immunity, and the autonomy to operate free from any parliamentary accountability.

Moreover, under the Maastricht treaty, the ECB board is primarily obligated to maintain price stability, and may support separate economic-policy measures only if doing so does not endanger its ability to fulfil this mandate. In the case of the green deal, the dangers are obvious. If the additional demand created by an expansion of green projects is funded by printing money instead of collecting taxes, it will not withdraw demand from other sectors of the European economy and would therefore be potentially inflationary.

Situations like this serve as a reminder of why article 123 of the treaty on the functioning of the European Union strictly prohibits the ECB from taking part in the financing “of Union institutions, bodies, offices or agencies, central governments, regional, local, or other public authorities, other bodies governed by public law, or public undertakings of member states”. But, of course, the ECB has already circumvented this rule by purchasing around €2tn in public debt from the market, thereby stretching the limits of its mandate to a legally dubious degree.

The latest plans to circumvent the Maastricht treaty will not improve matters. Before the financial crisis, the ECB was concerned only with monetary policy. During the crisis, it turned into a public bailout authority rescuing near-bankrupt banks and governments. Now, it is becoming an economic government that can print its budget as it sees fit.

The impending violation of the spirit of the Maastricht treaty will be twofold: the EU will be assuming debt covertly, and it will be doing so through the printing press. As such, the commission’s plans will further undermine the credibility of the very institution on which Europe relies for its financial and macroeconomic stability and its long-term growth prospects – and this at a time when the world is becoming even more uncertain, competitive and aggressive.

• Hans-Werner Sinn, is professor of economics at the University of Munich. He was president of the Ifo Institute for Economic Research and serves on the German economy ministry’s Advisory Council.

https://www.theguardian.com/business...1tn-green-deal

^ good read.

Oh for goodness sakes, the ECB is simply socialising the imminent green debt in much the same way the BoE socialised the debt burden of the bankster crash through QE.

That is not a Brexit issue and posting up stupid irrelevant crap is pointless and silly. Britain is not leaving the EU because it is going to destroy Europe, it is leaving because 17 million stupid and credulous people have swallowed a lot of guff from charlatans, right wing dinosaurs and tenth rate political hacks.

Originally Posted by Bettyboo

^ it was an economic exercise, a free-market, but that changed a long time ago with layers of bureaucracy, desire for aligned monetary policy, its own army, influence and power to rival NATO/USA - a good old co-operative got corrupted by those who got the taste for power then wanted more for themselves. Same old, same old...

What utter twaddle, the EU is the construct of 27 member states that have created a civil service to administer it, the Commission, and an EP to ratify procedures and policy initiatives, its parliament. It is no more bureaucratic than the member states which formed it and certainly no different to the UK.

It has no army but in the light of Trumpism it is clear one is to be preferred, to replace NATO, and to provide a separate independent nuclear deterrent but only if the Americans maintain their support for the oaf Trump.

Are you American Batty?

In any event, the EU already has its currency, we call it the EURO but you might know it better as pixie pennies.

You are getting worse.

^^

Not suggesting that it's a Brexit issue, merely that the EU itself is walking an economic tightrope, particulary due to the diversity of the 27, and the spectrum of abilities to become carbon neutral in the medium term without unimaginable sums being thrown around with the ultimate decline in the more advanced countries economies which is not going to make their populations very happy. As with "you can't have your cake and eat it" so there will be "there's no such thing as a free lunch".

since the UK was a net receiver of EU funds, Brexit is going to bring a lot of savings and some positive cash flows for the EU

and let's not forget the divorce bills, another source of positive cash flows

sounds like Brexit is an excellent deal for the EU at the end, at least financially

that said, the UK will be dearly missed for staffing the EU organic institutions