The Cost of Brexit

Viscount Ridley reminded the House of Lords during the recent Brexit debate that the previous, pre-Referendum Treasury forecast was a “clean sweep of failed predictions”. For example, “A vote to leave would represent an immediate and profound shock to our economy. That shock would push our economy into recession and lead to an increase in … More The Cost of Brexit

Shorties-14

Feeling Trumped Donald Trump has signalled that ‘America First’ will not mean protectionism, merely a defence against unfair trade practices. In his latest comments during an interview with Piers Morgan he explicitly added the EU to a list headed by China. He has a good point, do Germany’s cars need a 10% barrier against an … More Shorties-14

European Values

Stacey and Levi aren’t the most compatible of partners, they always seem to see things from different angles and never stop bickering, rather like the couple in “Who’s Afraid of Virginia Woolf” they never stop. Their current favourite argument is about Brexit. When Levi challenges her and all Remainers’ loyalty to Britain by weakening its … More European Values

Transition: Negotiating Directives (2)

The EU document is addressed to “Delegations” from the “General Secretariat of the Council” and its sub-Subject is “Supplementary directives for the negotiation of an agreement with the United Kingdom of Great Britain and Northern Ireland setting out the arrangements for its withdrawal from the European Union” The full document can be found here: In … More Transition: Negotiating Directives (2)

Transition: Negotiating Directives (1)

The European Council has issued “supplementary directives for the negotiation of an agreement” with the UK. The withdrawal agreement was referred to in earlier EU documents (and reviewed by us in Divorce Guidelines and Mercury Rising). Those earlier documents used the incompatible terms ‘guidelines’ and ‘directives’. We assume that guidelines are precursors to directives, the … More Transition: Negotiating Directives (1)

Italian Election

“I promise to pay the bearer on demand the sum of one pound,” signed Montagu Norman. Those old enough will remember the pound note that stored a bit of your wealth, backed with a promise from the Governor of the Bank of England to return your wealth when you needed it to purchase something or … More Italian Election

Macron the Munificent

On his recent visit to Britain Macron said, “If you want access to the single market, including the financial services, be my guest but it means you need to contribute to the budget and acknowledge the European jurisdiction.” That’s very generous of him but it does sound a little arrogant, perhaps it was just a … More Macron the Munificent

Shorties-13

Punishment or Pragmatism? If Poland left the EU it would be absolutely vital for it to maintain its existing trade relations. The UK is not in the same negotiating position, not only because of the large quantities of German cars and French wine it imports but because its global reach and reputation is far greater … More Shorties-13

People and Brexit

Philip Hammond Spreadsheet Phil has been in Berlin, attempting to persuade Germany to offer fair terms to The City following Brexit. He has given an interview with the newspaper Welt am Sonntag in which he told European leaders that rather than being afraid that a good deal for Britain would encourage others to leave the … More People and Brexit