Föhrenbergkreis Finanzwirtschaft

Unkonventionelle Lösungen für eine zukunftsfähige Gesellschaft

Posts Tagged ‘Britain’

Boris Johnson will find there is a price to pay for No 10’s power grab

Posted by hkarner - 18. Februar 2020

Date: 17‑02‑2020

Source: the Observer

Previous experiments with control‑freak premierships have not turned out well

Boris Johnson has spent his career disguising cunning plans as unintended blunders and dressing up stupid errors as machiavellian strokes. So there has been much understandable confusion about whether the defenestration of Sajid Javid was by accident or by design. In the immediate aftermath of his resignation, Number 10 didn’t much object to suggestions that the prime minister engineered the chancellor’s removal by ambushing him with a demand to sack all his special advisers, a demand that the prime minister knew the other man could never accept. This version of events appalled a lot of Tory MPs and generated much finger‑pointing at Dominic Cummings, who I won’t call the prime minister’s Rasputin because he likes the label too much.

It then suited some of Mr Johnson’s friends to spin that it was not a cunning plan at all, but an innocent cockup. Not: ha, we screwed Javid. But: oops, we lost Saj. On this account, the chancellor reacted with more hostility than anticipated when, towards the end of their conversation on the morning of reshuffle day, Mr Johnson asked him to dispense with his closest aides. The prime minister, so this story goes, was genuinely surprised and sad to lose his services. Den Rest des Beitrags lesen »

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The parable of the plug

Posted by hkarner - 8. Februar 2020

Date: 06‑02‑2020

Source: The Economist: Charlemagne

How plugs explain the potential and limits of the EU’s strange superpower

The british plug is a marvel of design. Its insulated prongs make electric shocks nigh on impossible, even if it is hanging out of the socket. Shutters cover the live holes on the socket until the earth is engaged, meaning even the most adventurous toddlers struggle to electrocute themselves. Yank out the cable and the live wires will disconnect before the earth, further reducing the chance of anyone being fried. It is probably the safest plug on the planet (unless trodden on). Yet apart from Britain and a few countries that lived under its imperial rule, the Great British plug is spurned for flimsy, sometimes dangerous two‑prong affairs.

As sales of British plug adaptors suggest, it takes more than good design for standards to be adopted globally. For such influence, an alchemy of regulatory clout and market power that Britain simply does not possess is required. But it is a blend that the eu has learned to master. Everything from timber production in Indonesia to internet privacy in Latin America is now settled by a bunch of bureaucrats, diplomats, meps and lobbyists in the middle of Belgium. This has been dubbed the “Brussels effect” by Anu Bradford of Columbia Law School, in a new book of the same title, which explains how the eu quietly has become a regulatory superpower. Den Rest des Beitrags lesen »

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The British government wants to reshape immigration after Brexit

Posted by hkarner - 3. Februar 2020

Date: 30‑01‑2020

Source: The Economist

But the new system will probably look quite like the old one

One phrase has cropped up again and again in Britain’s migration debate since 2005. That was the year Tony Blair, running for his third term as prime minister, promised an Australian‑style points‑based immigration system. As down under, marks could be awarded for, say, qualifications, linguistic ability or relative youthfulness. The idea is popular on the right, too: Nigel Farage, one of the architects of Brexit, often talks about it.

Britain’s membership of the European Union meant such a scheme could never be applied to all arrivals. Its rules allowed any citizen of another member state to move to Britain, regardless of their characteristics. In some years, the bloc supplied most of Britain’s newcomers. But Brexit changes the calculus. Boris Johnson, the prime minister, has promised to end freedom of movement and reshape immigration. His home secretary, Priti Patel, tasked the Migration Advisory Committee, an official panel of wonks, to look to Australia. Den Rest des Beitrags lesen »

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The Approaching Debt Wave

Posted by hkarner - 1. Februar 2020

Kaushik Basu, former Chief Economist of the World Bank and former Chief Economic Adviser to the Government of India, is Professor of Economics at Cornell University and Nonresident Senior Fellow at the Brookings Institution.

The World Bank has warned that a massive debt wave is building worldwide. There is no telling who will be hit the hardest, but if vulnerable countries, from the United Kingdom to India, do not act soon, they may face severe economic damage.

NEW YORK – Over the last decade, the world economy has experienced a steady build-up of debt, now amounting to 230% of global GDP. The last three waves of debt caused massive downturns in economies across the world. 

The first of these happened in the early 1980s. After a decade of low borrowing costs, which enabled governments to expand their balance sheets considerably, interest rates began to rise, making debt-service increasingly unsustainable. Mexico fell first, informing the United States government and the International Monetary Fund in 1982 that it could no longer repay. This had a domino effect, with 16 Latin American countries and 11 least-developed countries outside the region ultimately rescheduling their debts.In the 1990s, interest rates were again low, and global debt surged once more. The crash came in 1997, when fast-growing but financially vulnerable East Asian economies – including Indonesia, Malaysia, South Korea, and Thailand – experienced sharp growth slowdowns and plummeting exchange rates. Den Rest des Beitrags lesen »

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In 2020, Britain will be divided, damaged and diminished

Posted by hkarner - 7. Januar 2020

Date: 06‑01‑2020

Source: The Economist

Despite Boris Johnson’s landslide victory, Brexit will still suck the country’s political lifeblood like a giant squid

ONE QUESTION about Brexit has been solved as a result of the stunning victory by Boris Johnson’s Conservatives in the election in December: Britain will formally leave the European Union under the relatively amicable exit deal he renegotiated. His 80‑seat majority in Parliament means Remainers can no longer block it. But what happens once the country is formally out is far murkier. In 2020 Brexit will still act like a giant squid that has attached itself to the face of the nation, sucking its lifeblood and refusing to let go. Brexit’s impact can be summarised by three ds: divide, damage and diminish.

Brexit will divide the British more than any other issue. The old class divisions between Labour voters and Tory voters had already begun to crumble before the referendum in 2016, which hastened the formation of new cultural divisions—between the metropolitan areas that attract large numbers of university graduates and the provinces that favour more traditional values. The emerging division is reshaping both Labour (which is split between its loyalty to the working‑class and the new metropolitan elite) and the Tories (who are experimenting with national populism). Den Rest des Beitrags lesen »

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The battle for EU membership is lost, but a European England is still possible

Posted by hkarner - 23. Dezember 2019

Date: 22‑12‑2019

Source: Guardian ‑ Timothy Garton Ash

With Brexit now a certainty, we can still champion the values we share with millions of other Europeans

When we remainers marched in our hundreds of thousands through the streets of London … we were not just defending British membership in a particular set of European institutions.’

“History to the defeated / May say Alas but cannot help or pardon.” WH Auden’s lines from the Spanish civil war now apply to the British Europeans. We fought to keep our country in the European Union and we lost. The half of Britain that wants to leave the EU was united around Boris Johnson while the half that still wants to remain in the EU was divided against itself, and weighed down by the electoral liability called Jeremy Corbyn.

If the deceptive but effective three‑word slogan “take back control” won the 2016 referendum, so the equally effective and deceptive three‑word slogan “get Brexit done” won this election. Even if voters knew somewhere in the back of their minds that it was too good to be true, in their hearts they wanted it to be. And let’s be honest: even the most passionate of us remainers had some hidden “get Brexit done” corner of our souls.

But now I answer Auden with a great saying from the leader of Poland’s struggle for independence in the early 20th century, Józef Pilsudski: “To be defeated and not give up, that is victory. To be victorious and rest on your laurels, that is defeat.” Den Rest des Beitrags lesen »

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Boris Johnson and the Great Realignment

Posted by hkarner - 19. Dezember 2019

Date: 18‑12‑2019

Source: The Wall Street Journal By William A. Galston

Working‑class voters again cast their lot for nationalism and against socialism.

The revolt of the working class against the center‑right/center‑left establishment is the biggest political story of the past decade. For the most part, the working class has moved right rather than left, fueling the growth of conservative populism throughout the West.

Last week’s U.K. general election underscores this shift. As an analysis by the Financial Times shows, there was a strong correlation between a district’s share of working‑class voters and the swing toward the Conservative Party. In seats with high shares of these constituents, the Labour vote share declined on average by 14 points.

This shift has momentous policy consequences. With working‑class voters ascendant in conservative coalitions, nationalism beats socialism, and government spending trumps austerity. Den Rest des Beitrags lesen »

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A British Test for the Populist Revolution

Posted by hkarner - 9. Dezember 2019

Date: 07‑12‑2019

Source: The Wall Street Journal By Gerard Baker

If Boris Johnson’s pro‑Brexit Tories capture a large portion of former Labour voters in next week’s election, it will transform British politics and galvanize conservatives across the West

A country that likes to consider itself the most stable of democracies, a model of government typified by steady, pragmatic, get‑things‑done‑with‑no‑drama progress, has descended in a few years into southern European‑style political chaos.

Next Thursday, the British go to the polls in a nationwide vote for the fourth time in less than five years. The result could produce the U.K.’s fourth prime minister in a little over three years. If the opposition to Boris Johnson’s incumbent Conservatives can beat the odds and win on Thursday, the Battle of Brexit, which has paralyzed politics for 3½ years, is likely to be prolonged for a while yet, with the prospect of at least one more national vote in 2020. It’s possible that one outcome could be the eventual breakup of the kingdom itself. Den Rest des Beitrags lesen »

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It’s not just Britain that’s breaking up, Europe is too

Posted by hkarner - 8. November 2019

Date: 07-11-2019
Source: The Guardian by Martin Kettle

The tremors of this Brexit election will be felt across a continent whose powers are on the wane

Arguably the most surreal event during the general election campaign is scheduled for the week before polling day. On 3 December, Nato leaders, including Donald Trump and Boris Johnson, will gather at a Buckingham Palace reception. The next day, the Nato chiefs will meet in a luxury – but thankfully non-Trump-owned – hotel outside Watford. It’s the event where the leaders will discuss big subjects including Syria, Afghanistan, Russia and military burden-sharing – and where none of these big subjects is likely to be solved.

In the not so distant past, a leader fighting an election might have seen an international summit they were hosting as a golden opportunity. The grandeur and importance of such a gathering would mean free publicity from the campaign gods, reminding voters that the incumbent is someone who bestrides the world stage, has the ear of powerful allies, and is at ease with the deepest responsibilities of office. As a prime minister milked the occasion, opponents could only grind their teeth in frustration. Den Rest des Beitrags lesen »

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A Labour government would radically transform Britain

Posted by hkarner - 1. November 2019

Date: 31-10-2019
Source: The Economist

How Jeremy Corbyn’s party is trying to woo British voters

SHORTLY BEFORE the financial crisis of 2008, a little-known Labour MP published a 64-page pamphlet. In “Another World is Possible: A Manifesto for 21st Century Socialism”, John McDonnell laid out an economic vision which clashed with the slick, pro-business mantra of Tony Blair’s New Labour. It praised participatory democracy in Venezuela and hailed co-ops in the Basque country, while calling for the sweeping nationalisation of industry.

The booklet was an attempt by Mr McDonnell, then on the backbenches, to scupper the coronation of Gordon Brown as leader of the Labour Party and prime minister in 2007. Mr McDonnell attracted the support of just 29 MPs. A little over a decade later, Mr Brown is long gone from politics. New Labour is history. Mr McDonnell is shadow chancellor and Jeremy Corbyn, his friend and socialist ally, is leader. Labour will campaign in Britain’s general election, to be held on December 12th, on the most left-wing platform in a generation. Den Rest des Beitrags lesen »

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