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The UK votes to leave the European Union |OUT2| Mayday, Mayday, I've lost an ARM

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EmiPrime

Member
Pound’s relief rally does not strengthen its foundations

Theresa May’s first big speech on Brexit since she became prime minister removed some of the political uncertainty that has dogged the pound. However, the messiness of the politics of Britain’s exit from the EU still tops the list of reasons why sterling will remain under pressure.

...

An era of sustained currency weakness suggests a lower standard of living as higher import prices and a rebound in dollar-denominated commodities fuels inflation, hitting UK consumers.

“We see a deterioration in political rhetoric around Brexit as a key catalyst for further sterling weakness” is how analysts at Deutsche Bank sum up the outlook for the pound. “The large terms of trade shock from full exit from the single market” could see sterling fall to $1.06 and close to parity with the euro.

...

While that propelled the pound towards $1.24, a rise of nearly 3 per cent on the day, the prospect of a hard Brexit looms large. Also helping the pound was sentiment souring towards the US dollar after Donald Trump expressed his concern over a strong greenback. His plans to revive manufacturing jobs and US exports faces a headwind from dollar strength, another throwback to the Reagan era.

...

The pound’s jump against the dollar on Tuesday is a reminder the currency’s trend lower will not be a straight line. However, the best case for the pound is that a further decline is closer to a steady walk down, rather than taking an escalator sharply lower.
 

sammex

Member
C2hzCyEWgAEfCVJ.jpg:large



Available at all good book shops.
 

Zaph

Member
Australia says UK will need relaxed immigration controls for Australians in order to secure free trade deal

Expect the same from China and India for any trade deals with them as well.
Hey, at least we took back control of our borders right?

People gonna read this and think "well, Australia is a smaller nation with a lot shared culture/history, that won't be a problem!". And they'll be right.

But not realise it's now going to be a sticking point of every. single. negotiation.
 

Chinner

Banned
People gonna read this and think "well, Australia is a smaller nation with a lot shared culture/history, that won't be a problem!". And they'll be right.

But not realise it's now going to be a sticking point of every. single. negotiation.

UK population won't care as they will associate Australians = white people.
 
Australia says UK will need relaxed immigration controls for Australians in order to secure free trade deal

Expect the same from China and India for any trade deals with them as well.
Hey, at least we took back control of our borders right?

UK population won't care as they will associate Australians = white people.

That hasn't worked out well for Eastern Europeans so far, though Australians are white and Commonwealth.

Still, would be kinda hilarious if after Brexit immigration figures rose because of laxed migration rules in new trade deals.
 

Pancake Mix

Copied someone else's pancake recipe
Guys, hang on a second. The Anglosphere is extremely tight. It would work.

https://en.wikipedia.org/wiki/Anglosphere

Canada and New Zealand would be willing to do a similar deal too, no question. Canada, New Zealand, and Australia combined have a population similar to the UK, plus serious cultural ties, so it would work pretty well.
 

Lagamorph

Member
Guys, hang on a second. The Anglosphere is extremely tight. It would work.

https://en.wikipedia.org/wiki/Anglosphere

Canada and New Zealand would be willing to do a similar deal too, no question. Canada, New Zealand, and Australia combined have a population similar to the UK, plus serious cultural ties, so it would work pretty well.

Minus the UK however, Europe has a population of around 675million, 10 times the population of the UK. Minus the UK, the population of the EU proper is about 440million, but that doesn't include the populations of countries that aren't in the EU but are members of the common market.
 
Guys, hang on a second. The Anglosphere is extremely tight. It would work.

https://en.wikipedia.org/wiki/Anglosphere

Canada and New Zealand would be willing to do a similar deal too, no question. Canada, New Zealand, and Australia combined have a population similar to the UK, plus serious cultural ties, so it would work pretty well.

None of those countries are geographically close, they aren't nearly as large economically as the EEA, and cannot replace the EEA.
 
Australia says UK will need relaxed immigration controls for Australians in order to secure free trade deal

Expect the same from China and India for any trade deals with them as well.
Hey, at least we took back control of our borders right?

Wouldn't 'businesspeople' suggest that the high tier people would be able to do this and not the average worker? Assuming this is reciprocal most people will not see any new opportunities from this. Unless you're some kind of corporate executive I wouldn't hold my breath.
 

Pancake Mix

Copied someone else's pancake recipe
Minus the UK however, Europe has a population of around 675million, 10 times the population of the UK. Minus the UK, the population of the EU proper is about 440million, but that doesn't include the populations of countries that aren't in the EU but are members of the common market.

Population isn't everything. The UK has very little in common with many member states.

None of those countries are geographically close, they aren't nearly as large economically as the EEA, and cannot replace the EEA.

Oh, I never said it was preferable from an economic standpoint, just that free movement of labour would work quite well between the nations of the Anglosphere.

Australia and New Zealand already have that free movement.

So since a relaxation of controls was being talked about RE:Australia, I'm saying such a thing would work quite well, and better than European single market free movement.

China and India have enormous populations and very different economies. It's tiring to hear them brought up, it's not happening. Canada is one of the most open countries on Earth and has accepted enormous numbers from those regions, but they do not, and know they cannot, have free movement with those parts of the world. 36 million against 2.6 billion just isn't happening. Relaxed controls with those countries just is not going to happen. It's near impossible to have negotiations with those enormous countries because they can never be fair in that regard. The Visa regulations make sense.

China and India have too many human beings to do a big deal with, period. The math just doesn't work.
 
And free movement doesn't work with Europe because of 'culture'? Are you one of those people who think that the UK isn't a European country or something? I think people living here have many things in common with mainland Europeans as well, maybe less so with the newer Eastern European members of the EU, but definitely with Western and Northern Europe.
 
There was major German business meeting held today and two "plucky" brits went along.
http://www.bbc.co.uk/news/uk-politics-38694465

The German economy will pay a "high price" if its leaders make life hard for the UK over Brexit, British pro-Leave campaigners are to warn.

John Longworth, co-chair of Leave means Leave, and ex-minister Owen Paterson will sound the warning at a major German business event on Saturday.

Britain will "walk away" if the deal is not right, Mr Longworth will say.

"It is entirely sensible for businesses across the EU and Britain who wish to work and trade together to continue to do so and it would be helpful if the British and German governments, as well as key figures in the EU, work towards this goal," he will say.

"If the German Chancellor and EU leaders continue down the road of negativity and threats when negotiating with Britain, German business and the German economy will pay a high price."

'Voice of business'

He will warn German businesses that the UK will revert to World Trade Organization rules "with ease" if it offers a bad deal.

He will suggest that the government could simply "compensate" business for any tariffs that are imposed on goods and services as a result.


"We want a system whereby free trade will continue, but in order for this to happen, you need to make representations to your government and the EU," he will say.

"The voice of business must drown out that of the bitter politics of the EU project."


Organised by Tönissteiner Kreis, a network supported by the main German industry federations, the gathering will explore the future of British-German relations after Brexit.

The response turned pretty bad in the end.
http://www.bbc.co.uk/news/business-38707997

Berlin business leaders unimpressed with UK's message

The distinguished audience members were too polite to heckle. But the eye rolling, frowns and audible tutting made it quite clear how the Brexiteers' message was going down with German business leaders.

The two men are confident, witty speakers with impressive business and free-trade credentials.

Mr Longworth is a former head of the British Chamber of Commerce. Mr Paterson's years spent trading in Germany meant he could open his address with a few remarks in German - which drew an appreciative round of applause - and a well-judged joke about multilingual trade.

But it turned out they had entered the lion's den.

The laughter from the audience quickly turned to sniggers as they heard the UK described as "a beacon of open, free trade around the world". Westminster's decision to leave the world's largest free trade area does not look like that to Germany. When Europe was blamed for spending cuts and a lack of British health care provision, there were audible mutters of irritation from the audience.

The occasional light-hearted attempts at EU-bashing - usually guaranteed to get a cheap laugh with some British audiences - was met with stony silence.

Brexiteers argue German manufacturers will want to still sell to UK customers

In another setting - at another time - this gathering of the elite of Germany's powerful business community would have lapped up the British wit. Every ironic quip would ordinarily have had them rolling in the aisles. But British charm does not travel well these days. Rattled by the economic havoc Brexit could unleash, Germans are not in the mood for gags.


Remarkably united

When the audience was asked how many of them welcomed Brexit, only one hand went up - and it turned out that belonged to a businessman who wanted more EU reform and was fed up with Britain slowing things down.

Brexiteer rhetoric over the past year has often focused on the size of Britain's market and how keen German manufacturers are to sell to British customers.

Many leave campaigners remain convinced that German business leaders will force Mrs Merkel to grant the UK a special free trade deal in order not to lose British trade. But that's not what's happening.

Instead German firms are remarkably united in their support of the chancellor in her rejection of British "cherry-picking" - even if it means losing business in the short-term. When you talk to German bosses they say their top priority is in fact the integrity of the single market, rather than hanging on to British customers. That's because their supply chains span across the EU.

A German car might be designed in Germany, manufactured in Britain, with components made in various parts of eastern Europe, to be sold in France. This only works if there are no cross-border tariffs, paperwork or red tape.

German business leaders tell you that the British market may be important. But it is only one market, compared to 27 markets in the rest of the EU.

Leave campaigners also still underestimate the political and historical significance of the EU for Germany, where it is seen as the guarantor of peace after centuries of warfare.


Germany was shocked and saddened by the UK's vote to leave the EU. But the decision was quickly accepted in Berlin.

"The Brits never really wanted to be members of the European Union anyway," is something you often hear these days.

Many Germans now want to just work out a solution that does the least amount of harm to the European economy. Hence the irritation in Germany when British politicians keep rehashing the pre-referendum debate.

"It was frustrating to hear the same old arguments from the referendum campaign," one business leader told me when I asked him what he had thought about Saturday's discussion.

Germany has moved on, he said. Maybe Britain should too.

Awfully embarrassing. UK should be going about it with humility not thinly veiled threats and EU bashing humour. I still don't get this logic of UK has some cards to deal let alone many or all. It's plunder time for the EU.
 

8bit

Knows the Score
Awfully embarrassing. UK should be going about it with humility not thinly veiled threats and EU bashing humour. I still don't get this logic of UK has some cards to deal let alone many or all. It's plunder time for the EU.

The UK's cards at this point in time are the Four of Diamonds, Miss Brown the Baker's Daughter, Magikarp, a Skylanders Superchargers upgrade and a Doctor Who Sontaran card cut from a 1970's box of Weetabix against the EU's royal flush.

And they think they're playing Snap.
 

Theonik

Member
Respect for the rule of law? Is this the same country that just recently went in a pissing contest with whether its judiciary system gets to implement its laws and whose media went on a justice remoaner witch hunt?
 

Faddy

Banned
Our Trump card is re-implementing TTIP.

Except this time we are out on our own and not part of the world's largest trading block. The Yank negotiators will have us for breakfast.
 

PJV3

Member
There was major German business meeting held today and two "plucky" brits went along.
http://www.bbc.co.uk/news/uk-politics-38694465



The response turned pretty bad in the end.
http://www.bbc.co.uk/news/business-38707997



Awfully embarrassing. UK should be going about it with humility not thinly veiled threats and EU bashing humour. I still don't get this logic of UK has some cards to deal let alone many or all. It's plunder time for the EU.


They like Boris think they are talking to the types who read the Spectator.
 

KingSnake

The Birthday Skeleton
It's a matter of common sense for most EU companies that a hypothetical collapse of EU would be thousands times more hurtful for everybody here than some tariffs on a small part of their sales.
 

Kelthink

Member
Population isn't everything. The UK has very little in common with many member states.



Oh, I never said it was preferable from an economic standpoint, just that free movement of labour would work quite well between the nations of the Anglosphere.

Australia and New Zealand already have that free movement.

So since a relaxation of controls was being talked about RE:Australia, I'm saying such a thing would work quite well, and better than European single market free movement.

China and India have enormous populations and very different economies. It's tiring to hear them brought up, it's not happening. Canada is one of the most open countries on Earth and has accepted enormous numbers from those regions, but they do not, and know they cannot, have free movement with those parts of the world. 36 million against 2.6 billion just isn't happening. Relaxed controls with those countries just is not going to happen. It's near impossible to have negotiations with those enormous countries because they can never be fair in that regard. The Visa regulations make sense.

China and India have too many human beings to do a big deal with, period. The math just doesn't work.

I have literally no idea what you're saying. Is it that we shouldn't form a new trade agreement with India or China?
 

Pancake Mix

Copied someone else's pancake recipe
I have literally no idea what you're saying. Is it that we shouldn't form a new trade agreement with India or China?

I'm saying there might not be a reasonable deal to have.

China talked about unequal treaties a lot in the past with regard to Hong Kong and Macau in particular, but now the tables have turned simply due to population. There's only so much you can do with fish as large as India and China. The current Visa system works fine.

There's nothing to discuss, really.
 

Theonik

Member
So who do you end up partnering with? If this is the UK's desire doesn't it defacto lead to a new isolationist UK in which case the whole 'Global Britain' angle falls apart?
 

Pancake Mix

Copied someone else's pancake recipe
So who do you end up partnering with? If this is the UK's desire doesn't it defacto lead to a new isolationist UK in which case the whole 'Global Britain' angle falls apart?

I am disappointed at the referendum result. Even moreso due to the fact that the many EU opt-outs were substantial and, frankly, I think most countries were jealous. That should have been enough.

Total isolationism doesn't really work when you're a nation of trade and have long been a nation of trade. I don't see how this works with the Common Travel Area either.

Staying with Europe would have been a better choice...warts and all.
 

EmiPrime

Member
Britain all by itself can't negotiate anything other than a lopsided trade deal with China or India and even then such a deal would not involve unfettered access to the most lucrative and protected sectors of their economies, those would remain closed off; the British economy is simply not big enough to open them up. Even the Swiss couldn't get lower tariffs on their watch imports in their trade deal with China.

Also we are a services based economy anyway with services as a percentage of exports growing year on year and trade deals do not typically cover that.

No deal is better than a bad deal to quote a certain someone.
 

Pancake Mix

Copied someone else's pancake recipe
Britain all by itself can't negotiate anything other than a lopsided trade deal with China or India and even then such a deal would not involve unfettered access to the most lucrative and protected sectors of their economies, those would remain closed off; the British economy is simply not big enough to open them up. Even the Swiss couldn't get lower tariffs on their watch imports in their trade deal with China.

Also we are a services based economy anyway with services as a percentage of exports growing year on year and trade deals do not typically cover that.

No deal is better than a bad deal to quote a certain someone.

Exactly. There's not really any deal to be had for a lot of reasons.

Besides, the EU was a much larger negotiating bloc if you wanted to do a deal with them anyways.
 

avaya

Member
She doesn't care about single market access, she knows the economy will go to shit anyway. She wants the EU to look like the 'bad guy' - so they can be blamed when the economy tanks.

In our post-truth world the would be Trump voters who live on this festing Isle will gleefully follow along. Like the Republican's who managed to coax large amounts of non-college educated working class whites to vote based on demagoguery against their own economic interest the Tories now see an opportunity to make the traditional Labour heartlands a new "West Virginia".

The Tory part could not give a single fuck about this country as long as it clings onto power. Looking across the pond at the vermin now in charge there it's not too surprising. Birds of a feather flock together.
 

sammex

Member
Tory Rod Stewart doesn't think too highly of May.

Tory donor predicts Theresa May will have to quit within two years

A Tory donor who helped fund the legal challenge to the government’s Brexit plans has predicted Theresa May will be forced from office within two years because of the economic consequences of leaving the EU.

86133ed2b4c744798637dba23f08b328.png


Charlie Mullins, the founder of the London-based company Pimlico Plumbers, said the prime minister and other senior Tories had isolated themselves from core Conservative businesspeople and sacrificed the public good for their careers.

Speaking on the eve of the result of the government’s supreme court challenge to the ruling that May must consult parliament to trigger article 50, Mullins’s comments are a reflection of growing splits within the Conservative business community over Brexit.


“I don’t think that Theresa May is going to be around in two years once the EU negotiations kick in,” he said. “She is setting this up but someone else will have to pick up the pieces when it all goes really wrong.

“When she goes, the damage will have been done and its going to take a long, long time to get back to where we are today. People in business just cannot believe that she is cutting us off from a market of 500 million people.”
...
Interviewed at his business headquarters in Oval, Mullins said he expected the judgment to go against the government. “I would be very very surprised to see it go the other way. It would be a miscarriage of justice,” he said.

“If the judgment is as expected, I want MPs to get together and get us the best possible deal. At least its going to be more transparent.”

“I think this is money well spent. I’m thinking about my children, my grandchildren, the future of the country. People are going to thank people like me and Gina Miller further down the line,” he said.

“They haven’t gone through with all this for the country, they have done it for personal reasons, because they wanted top jobs in government. It is our children who are going to have to pick up the pieces,” he said.




The supreme court ruling is at 9:30am tomorrow.
 

Uzzy

Member
Woke up fearing a M. Night Shyamalan level twist with the Government winning the case on the basis that the Monarch had always had the right to strip us citizens of rights.

But that's probably not going to happen. Wonder if we'll get a leak before the judgement is announced.
 

Pancake Mix

Copied someone else's pancake recipe
Come on northern Ireland.
http://www.independent.co.uk/news/u...if-supreme-court-rules-stormont-a7542276.html
I would love to see a brexit that is pushed through despite local politicians voting against.

The largest party in Northern Ireland (prior to the dissolution of the assembly), the DUP, is pro-Brexit. That article is biased and didn't even talk to either major Unionist party, one of which (the UUP) was pro-Remain.

Northern Ireland also has only 3% of the UK's total population.
 

Joni

Member
Northern Ireland also has only 3% of the UK's total population.
That would force May to overrule both the Northern Irish and Scottish Parliament. I wonder what the Tory called that when the EU does it. Although it can't happen in the EU, every country there has equal veto powers. Germany and France can't push something through if half the members disagree. And if you don't like that possibility, get everyone you know to vote for the right people.
 

Maledict

Member
That would force May to overrule both the Northern Irish and Scottish Parliament. I wonder what the Tory called that when the EU does it. Although it can't happen in the EU, every country there has equal veto powers.

It's called a national government.

The only federal government I know of in existence that allows one region to overrule national policy is Belgium, and that's because Belgium is a unique country. California can't say no to any foreign policy decisions or treaties trump signs, nor can Bavaria to Merkel.

I think Brexit is the dumbest thing ever, and welcome any attempt to stop it, but the idea that because the devolved parliaments can't overrule makes our country broken goes completely contrary to basically every example of federal government that exists on the planet.
 
Most federal governments have a proper form of bicameralism installed at the national level though. I agree that it doesn't really make sense to give the regional parliaments a say or even a direct veto in matters of foreign policy, but most democratic systems of government still provide a way for a majority of the regions to prevent bills from passing – regardless of whether you look at elected bodies such as the US Senate or appointed bodies such as the German Bundesrat. The current way in which the UK does bicameralism at the national level, however, is, well ... a bit odd, to say the least.
 

Maledict

Member
Most federal governments have a proper form of bicameralism installed at the national level though. I agree that it doesn't really make sense to give the regional parliaments a say or even a direct veto in matters of foreign policy, but most democratic systems of government still provide a way for a majority of the regions to prevent bills from passing – regardless of whether you look at elected bodies such as the US Senate or appointed bodies such as the German Bundesrat. The current way in which the UK does bicameralism at the national level, however, is, well ... a bit odd, to say the least.

And the SNP have 50+ MPs in parliament. Just like California has 2 senators, and Bavaria gets representatives in the Bundesrat. No one region can prevent something from passing - heck, republicans controlled the vast majority of state governerships over the last 4 years and they couldn't stop Obama's foreign policy stuff.
 
D

Deleted member 231381

Unconfirmed Member
Not to mention that the SNP gets 50+ seats because of FPTP. With a proportional system, about 21 Scottish MPs would be backing Brexit.

PR could do a lot for the union, I think. Slight differences in Scottish and English politics are exaggerated by the winner-take-all nature.
 

Maledict

Member
Just to play slight devils advocate to my own points, I do think that a federal UK isn't really possible. The population imbalance is too great -you can't have a federal state where one state has 84% of the population, it just doesn't work. It would be like California, North Dakota and Wyoming forming a state. Either the smaller states will always be overridden because they are of much smaller, or they will veto stuff and the larger state will (rightly) feel that a tiny minority has too much influence.

Whatever the future of the UK is, I don't think federalism works for us.
 
Just to play slight devils advocate to my own points, I do think that a federal UK isn't really possible. The population imbalance is too great -you can't have a federal state where one state has 84% of the population, it just doesn't work. It would be like California, North Dakota and Wyoming forming a state. Either the smaller states will always be overridden because they are of much smaller, or they will veto stuff and the larger state will (rightly) feel that a tiny minority has too much influence.

Whatever the future of the UK is, I don't think federalism works for us.

The only way to do it would be to pilfer one of the models for English devolution, and divide England alone into a series of regions with roughly equivalent standing and powers to the current devolved countries. The thing is, I doubt you'd get the real support of identity needed for it, and it would almost certainly making the centering of politics on urban areas all the more explicit (even if just in trying to draw relatively balanced boundaries). Plus, in the short term it wouldn't likely cause a real political shift until (or even if) people get used to the notion that they can vote regionally.
 
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