Showing posts with label Brexit. Show all posts
Showing posts with label Brexit. Show all posts

Friday, July 7, 2017

Britain Isn't Greece, Prime Minister

Enough austerity. The government can afford to raise spending where that would help the economy.
By The Editors
7 Ιουλίου 2017, 9:39 π.μ. EEST
Bloomberg
Britain’s government isn’t due to announce a new budget until the autumn, but debate is already raging over public-sector pay. With Brexit bearing down, the embattled prime minister, Theresa May, will have to choose between making another embarrassing U-turn and defending a policy that is both unpopular and unnecessary.

Sadly for May, the U-turn makes better sense.

Wednesday, June 21, 2017

Brexit Bulletin: The New Political Reality

By Simon Kennedy  and Robert Hutton
21 Ιουνίου 2017, 9:52 π.μ. EEST

Bloomberg

Prime Minister Theresa May will make her first attempt to engage with Britain’s new political landscape on Wednesday as she publishes a Brexit-heavy legislative program.

Queen Elizabeth II will read out the plan for the next two years. It’s set to include a bill designed to convert thousands of European Union rules into British law and another to regain control of trade policy from the bloc.

Tuesday, June 13, 2017

Britain’s Theresa May comes under pressure to soften her stance on Brexit


The Washington Post

By Griff Witte and Karla Adam June 12 at 3:30 PM
LONDON — When Britain voted last week in an election that ended with Prime Minister Theresa May hanging onto her job by a thread, Brexit wasn’t on the ballot.

Even though the country had split nearly down the middle in last year’s referendum – 52 percent to 48 – and continues to be closely divided, none of the major parties ran on a platform of reversing the public’s decision to leave the European Union.

Friday, June 9, 2017

Theresa May Loses Overall Majority in U.K. Parliament

By STEVEN ERLANGER and STEPHEN CASTLE

JUNE 8, 2017


LONDON — Prime Minister Theresa May of Britain suffered a major setback in a tumultuous election on Thursday, losing her overall majority in Parliament and throwing her government into uncertainty less than two weeks before it is scheduled to begin negotiations over withdrawing from the European Union.

Wednesday, May 31, 2017

Greece Seeks to Lure U.K.-Based Shipowners, Brokers on Brexit

by Paul Tugwell  and Sotiris Nikas
31 Μαΐου 2017, 2:05 π.μ. EEST
Bloomberg

The Greek government wants to persuade shipowners and shipping-insurance companies based in London to move their European Union headquarters to Greece as the U.K. prepares to exit the bloc.

“We’re in contact with five large ship-insurance brokers who are considering various EU member countries for the transfer of their headquarters,” Shipping Minister Panagiotis Kouroumblis said in an interview in Piraeus, Greece’s biggest port. Kouroumblis declined to name the firms as the talks are private. “We’ll meet by the latest in June to discuss the terms they’d like in order to choose Greece,” he said.

Wednesday, May 24, 2017

BlueBay Turns Short Pound as 'All Roads' Point to Hard Brexit

by Anooja Debnath
24 May 2017, 7:00 π.μ. EEST

Bloomberg

Sterling could drop to $1.20 toward end of this year: Dowding

Bundesbank’s Dombret says Brexit to be hard or very hard
The pound is heading lower whatever the outcome of the U.K.’s elections, according to BlueBay Asset Management.

Monday, April 24, 2017

Brexit Bulletin: What Macron Means for May


Macron has pledged to be tough on Britain.
by Simon Kennedy
24 Απριλίου 2017, 9:30 π.μ. EEST

Bloomberg

Theresa May’s first electoral test came on Sunday in France.

Even as she heads for a general election at home, the U.K. prime minister will have been looking across the English Channel at the weekend in the knowledge that whoever wins the French presidency will have a key influence on Brexit negotiations.

Emmanuel Macron, the favorite to win next month’s run-off after the first round of votes, pledged on the campaign trail to be “pretty tough” on the British “because we have to preserve the rest of the European Union.” He also promised to coax “banks, talent, researchers, academics” to relocate to France.

Thursday, March 30, 2017

In historic break, Britain plunges into Brexit with hard negotiations still to come



The Washington Post

By Griff Witte and Michael Birnbaum March 29 at 4:17 PM
LONDON — The end came not with a bang but a letter.

Over six crisp and unsentimental pages, Britain said goodbye to the European Union on Wednesday, spelling out its hopes, ­wishes, threats and demands for divorce talks that will strain ­alliances, roil ­economies and consume attention across the continent over the next two years.

Coming a little over nine months after British voters stunned the world by choosing to withdraw from the E.U., the hand-delivery of the letter in Brussels officially triggered Article 50, the bloc’s never-before-used escape hatch.

Wednesday, March 29, 2017

British PM May to fire starting gun on Brexit

Wed Mar 29, 2017 | 7:15am EDT

Reuters


By Guy Faulconbridge and Elizabeth Piper | LONDON
Prime Minister Theresa May will file formal Brexit divorce papers on Wednesday, pitching the United Kingdom into the unknown and triggering years of uncertain negotiations that will test the endurance of the European Union.

Nine months after Britons voted to leave, May will notify EU Council President Donald Tusk in a letter that the UK really is quitting the bloc it joined in 1973.

The prime minister, an initial opponent of Brexit who won the top job in the political turmoil that followed the referendum vote, will then have two years to settle the terms of the divorce before it comes into effect in late March 2019.

Friday, March 24, 2017

A Bad Brexit Deal May Be Better Than No Deal After All

by Simon Kennedy
24 Μαρτίου 2017, 2:01 π.μ. EET 24 Μαρτίου 2017, 11:24 π.μ. EET

Bloomberg

The mantra within the British government as it prepares to hammer out the terms of its break-up with the European Union is that no deal is better than a bad deal.

Walking away with no regime for 230 billion pounds ($287 billion) of annual exports to the bloc and the 3.3 million Europeans in the U.K would be “perfectly OK,” says Foreign Secretary Boris Johnson. Not “frightening” at all, says Brexit czar David Davis.

Wednesday, March 15, 2017

‘Brexit’ Fuels Feeling in Scotland That Time Is Right for Independence

By KATRIN BENNHOLDMARCH 14, 2017

LONDON — Scotland’s nationalists wasted no time: Just minutes after the country’s leader, Nicola Sturgeon, called on Monday for a new independence referendum, a website went live asking people to show their support on Twitter and donate to the campaign.

By Tuesday morning, 204,345 pounds, or about $249,000 — more than a fifth of the £1 million target — had been raised; pro-independence banners in Scotland’s blue-and-white colors had gone up across the country; and celebrities were offering support, including the actor Alan Cumming, who shared a Twitter post by Ms. Sturgeon, with the comment “It’s showtime!”

It was an early glimpse of the Scottish nationalists’ formidable campaign machine, evidently little diminished since the last referendum, in 2014. Support for independence rose from about 27 percent at the start of that campaign to 45 percent at the final count.

Thursday, February 23, 2017

Brexit Bulletin: What Can By-Elections Tell Us About Brexit?Bre


Labour is facing a stiff challenge in its traditional heartlands.
by David Goodman
23 February 2017, 9:30 π.μ. EET

Bloomberg

Voters in Copeland and Stoke Central take center stage today in by-elections that will have an impact beyond the borders of the two constituencies.

Both districts have traditionally elected Labour MPs but voted for Brexit, putting it firmly on the agenda during the campaigns, alongside more granular local issues. That, coupled with timing of the polls and the positions of the parties involved, mean they matter more than the average by-election, according to Bloomberg’s Robert Hutton.

Tuesday, February 14, 2017

Brexit Bulletin: Can Britain Split the Difference?

The U.K. may need to drive a wedge between EU states in Brexit talks. So far the Continent is singing with one voice.
by Simon Kennedy
14 February 2017, 9:30 π.μ. EET

It now looks like Theresa May was a little naive.

Back in October, the U.K. prime minister said she hoped her commitment to start the Brexit process by the end of March would prove enough for the European Union to engage in some “preparatory work” beforehand.

“This is important,” she told the BBC. “It’s not just important for the U.K.; it’s important for Europe as a whole.”

Instead, European officials held their line that there would be “no negotiation without notification” that Britain was definitely leaving.

Thursday, February 9, 2017

Brexit Bulletin: Victory, But at What Price?

Theresa May is now a technicality away from starting Brexit.
by Simon Kennedy  and Tim Ross
9 February 2017, 9:30 π.μ. EET

Theresa May was celebrating on Wednesday night as the House of Commons voted overwhelmingly to approve starting the Brexit process.

Not only that, but the government managed to avoid any amendment to its 137-word bill, leaving it on track to invoke Article 50 by the end of March. The unelected House of Lords will now debate the legislation, but doesn’t have the authority to derail it.

Brexit Secretary David Davis hailed the 494-122 vote as “historic” and said it was time for the county “to unite to make a success of the important task at hand.” Former UKIP leader Nigel Farage was exultant, as was one-time Tory leadership hopeful Andrea Leadsom.

Tuesday, February 7, 2017

Split by ‘Brexit,’ May and Merkel Diverge on Wider Issues, Too


By KATRIN BENNHOLD and ALISON SMALEFEB. 5, 2017


The New York Times

LONDON — In another era they could have been allies.

Both vicars’ daughters and born just a few years apart, Chancellor Angela Merkel of Germany and Prime Minister Theresa May of Britain share an understated pragmatism and conservative roots, and have made their way in the still largely man’s world of politics. But there could be so much more.

At a time when President Trump is lashing out at friend and foe, and when the macho politics of strongmen is resurgent from Moscow to Manila, when not just the European Union but high-minded Western values, free trade and security alliances are under attack, the two women might have worked together to defend the liberal global order.

Monday, February 6, 2017

U.K. Business Says Brexit Already Having a Negative Effect

by Tim Ross  and Lucy Meakin
6 February 2017, 10:22 π.μ. EET 6

Brexit has already damaged businesses even before Prime Minister Theresa May triggers the start of Britain’s withdrawal from the European Union, according to a survey of the country’s largest companies.

More than half -- 58 percent -- of top executives at Britain’s biggest firms said the vote to quit the bloc has had a negative impact on their businesses, the Ipsos MORI “Captains of Industry” poll found. Two-thirds of the chief executives, chairmen and directors interviewed for the survey said they believed the business situation would worsen in the next 12 months.

Friday, February 3, 2017

U.K.’s Brexit Plan: Prepare for Failure, Hope for Success


by Tim Ross , Robert Hutton , and Alex Morales
2 February 2017, 11:31 μ.μ. EET
Bloomberg
Prime Minister Theresa May is making plans for emergency laws to protect the U.K. economy in case Brexit negotiations break down without a free-trade deal, as concerns grow that she’ll fail to achieve the sweeping agreement she wants.

In its 75-page plan for Brexit, May’s government said on Thursday that while it was expecting to find common ground with the 27 other members of the European Union, it will prepare contingency measures to avert economic chaos if the discussions collapsed.

Thursday, February 2, 2017

Europe gets creative to win banks after Brexit

Wed Feb 1, 2017 | 10:56am EST

Reuters

By Anjuli Davies, Andrew MacAskill and John O'Donnell | LONDON/FRANKFURT
Regulators in European countries competing for post-Brexit banking business are offering London-based banks a range of short-term workarounds to help them relocate, bankers, regulators and lawyers say.

Global banks have warned they might have to move their European bases from Britain if its departure from the European Union means they lose "passporting" rights to operate across the bloc under the supervision of just one member state's regulator.

Brexit negotiations have yet to start and will take years but big centers like Frankfurt and Paris, as well as smaller ones like Dublin, Amsterdam and Luxembourg, are encouraging banks, insurers and fund managers to consider moving to them.

Theresa May Gets Parliament’s Backing on ‘Brexit’ Bill


By STEPHEN CASTLEFEB. 1, 2017

The New York Times

LONDON — Easily winning a crucial vote among lawmakers, Prime Minister Theresa May was well on her way Wednesday to winning the parliamentary approval that Britain’s highest court said she needed before she could begin talks on ending more than four decades of European integration.

Wednesday’s vote, in the House of Commons, will not be the final parliamentary verdict on Mrs. May’s plans, but with 498 lawmakers in favor and 114 against, it was emphatic enough to show that any subsequent efforts in Parliament to complicate, or slow, the path to withdrawal would probably be in vain.

Friday, January 27, 2017

Britain’s excruciating embrace of Donald Trump shows how little independence it has gained from Brexit

The Economist
27-1-2017
Leaving the European Union means the country has less, not more, control over its circumstances

THERESA MAY’S private opinion of Donald Trump goes unrecorded, but she is surely not a natural fan. Before Mr Trump’s election the prime minister called his remarks on Muslims “divisive, unhelpful and wrong”. Fiona Hill, one of her powerful chiefs of staff, declared him a “chump” and Nick Timothy, the other, tweeted: “As a Tory I don’t want any ‘reaching out’ to Trump.” Mrs May flannelled in a television interview on January 22nd when asked about the president’s treatment of women, his disregard for NATO and his protectionism. In temperament the two leaders could hardly be less alike: one brash and operatic, the other cautious and meticulous. So expect the prime minister’s visit to the White House on January 27th to be a study in awkwardness: the mother superior dropping in on the Playboy Mansion.