Föhrenbergkreis Finanzwirtschaft

Unkonventionelle Lösungen für eine zukunftsfähige Gesellschaft

Posts Tagged ‘Britain’

Labour is right—Karl Marx has a lot to teach today’s politicians

Posted by hkarner - 14. Mai 2017

Date: 13-05-2017
Source: The Economist: Bagehot

The shadow chancellor’s comment provoked scorn. Yet Marx becomes more relevant by the day

AN UNOFFICIAL rule of British elections holds that you don’t mention big thinkers. On May 7th John McDonnell, the shadow chancellor, broke this rule by mentioning not just any old big thinker but Karl Marx. “I believe there’s a lot to learn from reading ‘Capital’,” he declared. The next day Jeremy Corbyn, the Labour Party leader, described Marx as “a great economist”.

This produced jubilation on the right. The Daily Telegraph dismissed Messrs McDonnell and Corbyn as “the Marx brothers”. The Daily Mail reminded its readers of the murderous history of communism. David Gauke, a Conservative minister, warned that “Labour’s Marxist leadership” was planning to turn Britain into a “hard-left experiment”. He added for good measure that Marx’s thinking is “nonsensical”. Den Rest des Beitrags lesen »

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How Emmanuel Macron’s Vision of the EU Could Further Marginalize Britain

Posted by hkarner - 12. Mai 2017

Date: 11-05-2017
Source: The Wall Street Journal By Simon Nixon

French president-elect’s impact on U.K. lies less in Brexit negotiating stance than in prospect of more cohesive bloc

The heart of the Brexit debate was over how Britain could best maintain its status as a core rather than peripheral country in Europe. Brexiters claimed the U.K. could never be central to the European Union while remaining outside both the eurozone and the border-free Schengen travel zone. Remainers argued the U.K. played an outsize role in shaping the EU—not least in creating the single market, supporting the EU’s eastward expansion and helping shape its trade policies—and that it was quitting the EU that risked turning Britain into a peripheral country.

This debate has acquired a new relevance following Emmanuel Macron’s victory in the French presidential election on Sunday, but not for the short-term reasons one might think.

Much time has been devoted in recent days to examining the entrails of Mr. Macron’s campaign pronouncements to divine what his election augurs for the prospects of a Brexit deal. But this is the wrong question. Sure, the election of his rival, Marine Le Pen, would have been a disaster for the U.K., plunging the continent into chaos, sapping the EU’s political capacity, and increasing the risk of a disorderly Brexit. Den Rest des Beitrags lesen »

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To Understand ‘Brexit,’ Look to Britain’s Tabloids

Posted by hkarner - 4. Mai 2017

Date: 03-05-2017
Source: The New York Times

Despite their falling circulations and tarnished reputations, tabloids maintain a striking grip on power as Britain prepares to cut ties with the European Union.

LONDON — Tony Gallagher, editor of The Sun, one of Britain’s most raucous and influential tabloids, looks down on the government, literally. From the height of his 12th-floor newsroom, all glass and views, the Palace of Westminster seems like a toy castle, something to be played with or ignored at will.

Mr. Gallagher also looks down on the editor of the more measured Times of London, whose office is one floor below and who makes a point of keeping his blinds drawn. The hierarchy is not lost on either man.

In Britain after the so-called Brexit vote, the power of the tabloids is evident. Their circulations may be falling and their reputations tarnished by a series of phone-hacking scandals. But as the country prepares to cut ties with the European Union after a noisy and sometimes nasty campaign, top politicians court the tabloids and fear their wrath. Broadcasters follow where they lead, if not in tone then in topic.

Their readers, many of them over 50, working class and outside London, look strikingly like the voters who were crucial to the outcome of last year’s referendum on membership in the European Union. It is these citizens of Brexitland the tabloids purport to represent from the heart of enemy territory: Housed in palatial dwellings in some of London’s most expensive neighborhoods, they see themselves as Middle England’s embassies in London.

In the campaign leading up to a snap election on June 8, most tabloids can be counted on to act as the zealous guardians of Brexit and as a cheering section for the Conservative government of Prime Minister Theresa May — even though the city that houses them voted the other way. Den Rest des Beitrags lesen »

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Britain’s Messy Divorce

Posted by hkarner - 28. März 2017

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The Battle for Britain

Posted by hkarner - 25. Februar 2017

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Brexit, Donald Trump and the threat to Europe

Posted by hkarner - 19. Januar 2017

Thanks to R.H.

Britain is courting a president-elect who looks forward to the unravelling of the EU

Philip Stephens, FT, 19/1

London mayor warns EU rivals trying to grab city’s finance jobs

may-cc2Theresa May’s speech outlined her vision for a post-Brexit ‚Global Britain‘

British prime ministers are prone to spend their last days governing from a bunker. Convinced of their own immortality they dispense with forthright advisers in favour of devoted aides. The passage of time narrows their sight of the world beyond the front door of 10 Downing Street.Theresa May has started out where her predecessors ended up.

Scarcely six months in the job, Mrs May is roundly mistrustful of her senior civil servants. Officials are shut out of decision-making. Unvarnished advice invites histrionics from her political sidekicks. It is not an intelligent way to run a government — never mind one charged with managing the biggest upheaval in the nation’s political and economic life since the end of the second world war.

Mrs May has now set out her plans for a “hard” Brexit — a clean break with the EU that will take Britain out of the single market and the customs union. There can be no half-in, half-out, she said, if Britain wanted to curb EU migration and renounce the jurisdiction of the European Court of Justice. The prime minister had previously dismissed the idea of such a trade-off. She would get a bespoke deal, and Britain, in the tactful phrase of Boris Johnson, the foreign secretary, would have its cake and eat it. Den Rest des Beitrags lesen »

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After six months, what the new prime minister stands for is still unclear—perhaps even to her

Posted by hkarner - 7. Januar 2017

Date: 05-01-2017
Source: The Economist
Subject: Theresa Maybe, Britain’s indecisive premier

May cc 1WITHIN hours of the Brexit referendum last summer David Cameron had resigned, and within three weeks Theresa May had succeeded him as prime minister. The speed of her ascent to power, on July 13th 2016, without a general election or a full-blown Tory leadership contest, meant that Mayism was never spelt out in any manifesto or endorsed by the electorate. Yet the new prime minister soon made clear the scale of her ambitions for Britain. Not only would she make a success of Brexit, she would also set in motion a sea-change in social mobility to correct the “burning injustices” faced by the downtrodden, and reshape “the forces of liberalism and globalisation which have held sway…across the Western world.” Her allies talked of an epochal moment, comparable to Margaret Thatcher’s break with the past in 1979. The feeble condition of the Labour opposition gave Mrs May control of a one-party state. As for her mandate, she cited the referendum: a “quiet revolution” by people “not prepared to be ignored any more”.

Yet after half a year in office there is strikingly little to show for this May revolution. The strategy for Brexit, which is due to be triggered in less than three months, remains undefined in any but the vaguest terms, and seems increasingly chaotic. At home, the grand talk about transforming society and taming capitalism has yielded only timid proposals, many of which have already been scaled down or withdrawn. The growing suspicion is that the Sphinx-like prime minister is guarded about her plans chiefly because she is still struggling to draw them up. Den Rest des Beitrags lesen »

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Most Brexit-Brits don’t have a clue what’s involved

Posted by hkarner - 18. Dezember 2016

Date: 17-12-2016
Source: The Economist
Subject: British companies may find it harder than they expect to unravel the EU’s red tape

If it wants to carry on doing business with Europe, Britain will have to keep following its rules

ANOTHER week, another EU regulation: number 1169/2011, to be exact, concerning “food information for consumers”. Like much that comes out of Brussels, it sounds innocuous, but has already had far-reaching and costly consequences. The new rules, which came into force on December 13th, specify font sizes on food labels, require details on allergens in prepared food and a lot more. They may improve safety, but they have forced producers to rejig their manufacturing processes once again.

The breadth of EU regulation in the food industry is extraordinary, covering everything from hygiene to storage, says Helen Munday, the chief scientific officer at the Food and Drink Federation, a lobby group. Conforming to these rules over the past four decades has shaped an industry that now employs 400,000 people in Britain. The Europe-wide regulations are a faff, but they allow British firms to trade on equal terms with other companies in the EU’s single market and maintain seamless supply chains across the continent, without lengthy inspections of imported Italian mushrooms at national borders. Den Rest des Beitrags lesen »

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Theresa May’s Nasty Britain

Posted by hkarner - 26. Oktober 2016

Photo of Mark Leonard

Mark Leonard

Mark Leonard is Director of the European Council on Foreign Relations.

OCT 25, 2016 Project Syndicate

LONDON – British Prime Minister Theresa May once warned her fellow Conservatives of the perils of being known as the “nasty party.” But after 100 days in office, she is in danger of going further, turning the United Kingdom into the nasty country.

In just a few months, May has launched attacks on “international elites” and decided to prioritize immigration controls over single-market access in negotiating the UK’s withdrawal from the European Union. At one point recently, companies faced the threat of being compelled to furnish a list of their foreign workers. And the 3.5 million European citizens who are settled in the UK were left to worry about whether May’s government would guarantee their residence rights. Den Rest des Beitrags lesen »

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Britische Preise steigen wie seit gut zwei Jahren nicht mehr

Posted by hkarner - 18. Oktober 2016

Deutsche Wirtschafts Nachrichten  | 

In den Nachwehen des Brexit-Votums sind die Preise in Großbritannien so stark gestiegen wie seit rund zwei Jahren nicht mehr. Die Inflationsrate erhöhte sich im September auf 1,0 Prozent nach einem Wert von 0,6 Prozent im August, wie das Statistikamt ONS am Dienstag mitteilte.

Zuletzt hatte sie im November 2014 höher gelegen. Experten hatten im Schnitt lediglich einen Anstieg um 0,9 Prozent erwartet.

Seit dem Brexit-Votum vom Juni hat das Pfund zum Dollar fast 20 Prozent an Wert eingebüßt, so Reuters. Der Pfund-Verfall werden Importe auf die Insel tendenziell teurer – insbesondere die in Dollar abgerechneten Öllieferungen. Zudem verteuerte sich Bekleidung zum Vormonat so stark wie seit sechs Jahren nicht mehr: „Doch gibt es keine eindeutigen Hinweise, dass das schwächere Pfund die Preise von Konsumgütern des täglichen Bedarfs nach oben treibt“, sagte ONS-Experte Mike Prestwood.

Die Zentralbank, die Anfang November zu ihrer nächsten Zinssitzung zusammenkommt, rechnet damit, dass die Inflation in den nächsten Monaten weiter zunimmt und ihr Ziel einer Teuerungsrate von zwei Prozent bereits im Sommer 2017 erreicht wird. Manche Bankenökonomen sagen für Ende nächsten Jahres sogar Inflationsraten zwischen drei und vier Prozent voraus.

Um die Konjunktur nach dem Referendum anzukurbeln, hat die BoE im August die Zinsen gekappt. Zudem öffnete sie die Geldschleusen weiter und stockte ihre Staatsanleihenkäufe auf. Angesichts der unsicheren Konjunkturaussichten hält sie sich für eine weitere Senkung der Leitzinsen bereit, die derzeit auf dem Rekordtief von 0,25 Prozent sind.

BoE-Chef Mark Carney sagte jüngst der BBC, dass sich die Konjunktur zuletzt besser entwickelt habe als erwartet. Es gehe jedoch langsamer voran als vor dem Referendum. Die Briten hatten sich am 23. Juni mehrheitlich dafür entschieden, der EU den Rücken zu kehren. Dies hat zu Verunsicherung in der Wirtschaft geführt.

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