Posted by hkarner - 28. März 2017
Chris Patten, the last British governor of Hong Kong and a former EU commissioner for external affairs, is Chancellor of the University of Oxford.
MAR 27, 2017 Project Syndicate
LONDON – As Britain formally triggers the doleful negotiations to exclude itself from the mainstream of European politics and economics, Prime Minister Theresa May refuses to use the word “divorce” to describe what is happening. My wife, a retired family lawyer and mediator, thinks May could be correct. After all, the family house we are exiting still contains much of our history and family silver, as well as our future economic interest. In that sense, divorce is scarcely an option.
Britain has not been as insular an island as some people take it to be. From our reigning royal family (which is German) to our exports (overwhelmingly to Europe), we have helped to shape and in our turn been shaped by developments in the rest of Western Europe. We are separated by just 20 miles (33 kilometers) of water – these days, apparently a very wide 20 miles – at the Strait of Dover.
So why are we leaving? The cause is a mixture of frustration, delusion, mendacity, and bloody-mindedness. We were fed up with Europe’s inability to tackle some of its biggest challenges – from competitiveness to immigration – without seeking to acquire more central powers. Den Rest des Beitrags lesen »
Posted in Artikel | Verschlagwortet mit: Brexit, Britain, Patten, Project Syndicate | Leave a Comment »
Posted by hkarner - 25. Februar 2017
Tony Blair was Prime Minister of the United Kingdom from 1997 to 2007. Since leaving office, he has founded the Africa Governance Initiative, the Tony Blair Faith Foundation, and the Faith and Globalization Initiative.
FEB 24, 2017, Project Syndicate
On February 17, Tony Blair delivered a speech aimed at reopening the Brexit debate in Britain. In view of the potential significance of his intervention, we reproduce the text of his speech here.
LONDON – The British people voted to leave the Europe Union, and the will of the people should prevail. But the people voted without knowledge of the true terms of Brexit. As these terms become clear, it is their right to change their mind.
What was unfortunately only dim in our sight before the Brexit referendum is now in plain sight. The road Britain is going down is not simply “Hard Brexit.” It is “Brexit at Any Cost.”
Our challenge is to expose these costs, to show how the decision was based on imperfect knowledge, and to demonstrate in easy-to-understand ways how proceeding will cause real damage to our country. Finally, we must build support for finding a way to stop the current rush over the cliff’s edge. Den Rest des Beitrags lesen »
Posted in Artikel | Verschlagwortet mit: Blair, Brexit, Britain, Project Syndicate | Leave a Comment »
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
Theresa 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 »
Posted in Artikel | Verschlagwortet mit: Brexit, Britain, FT, May, Trump | Leave a Comment »
Posted by hkarner - 7. Januar 2017
Source: The Economist
Subject: Theresa Maybe, Britain’s indecisive premier
WITHIN 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 »
Posted in Artikel | Verschlagwortet mit: Brexit, Britain, Economist, May | Leave a Comment »
Posted by hkarner - 18. Dezember 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 »
Posted in Artikel | Verschlagwortet mit: Brexit, Britain, Economist | Leave a Comment »
Posted by hkarner - 26. Oktober 2016
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 »
Posted in Artikel | Verschlagwortet mit: Brexit, Britain, Leonard, May | Leave a Comment »
Posted by hkarner - 18. Oktober 2016
Deutsche Wirtschafts Nachrichten | Veröffentlicht: 18.10.16 13:44 Uhr
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.
Den Rest des Beitrags lesen »
Posted in Artikel | Verschlagwortet mit: Brexit, Britain, DWN, Inflation | Leave a Comment »
Posted by hkarner - 17. September 2016
Source: The Economist
Labour’s implosion leaves Britain without a functioning opposition. That is more dangerous than many realise
CHEERING crowds flock to his rallies. Youngsters embrace him for selfies and hang on his every tweet. Jeremy Corbyn, improbable, crinkly rockstar of the far left, is on course to be re-elected Labour’s leader on September 24th in a landslide vote among the party’s members, hundreds of thousands of whom have joined up in the past year just to back him.
Yet Mr Corbyn’s popularity among Labour’s half-million members and affiliates is not replicated among Britain’s 45m voters, most of whom do not share his desire to overthrow capitalism and unilaterally forsake the country’s nuclear weapons, nor his soft spot for strongmen such as Vladimir Putin and the late Hugo Chávez. The party is polling at its lowest in opposition for 30 years. Among young people, his most sympathetic constituency, Mr Corbyn has an approval rating of -18%. Among the over-65s it is -68%. Labour is on course to lose scores of seats at the next election. And it will not end there. Parties often pick bad candidates—mainstream Republicans recoil at Donald Trump, for instance—but it usually costs them no more than one election. Mr Corbyn, by contrast, is packing Labour with allies and seems more concerned with building a long-term “movement” than winning power. The Conservative government can expect years without being seriously challenged in Westminster. Den Rest des Beitrags lesen »
Posted in Artikel | Verschlagwortet mit: Britain, Corbyn, Economist | Leave a Comment »
Posted by hkarner - 7. September 2016
The record one-month jump in services activity in August clinches a spate of remarkably resilient figures, more or less neutralizing the cascade of crashing indexes in July.
Markit’s combined gauge of services and manufacturing is back up to 53.6. This is higher than it was before the referendum vote, and higher than it is currently in the eurozone, where Schadenfreude has proved short-lived. It is no longer implausible to suggest that the UK economy might outperform the eurozone this quarter, and nor should this be a great surprise.
The 12pc drop in sterling against the euro – compared to its trading range earlier this year – is a macro-economic stimulus for Britain. It is a form of macro-economic tightening for the eurozone, creating an extra headwind as it struggles to break out of a deflation trap. Den Rest des Beitrags lesen »
Posted in Artikel | Verschlagwortet mit: Brexit, Britain, Economy, Evans-Pritchard, Japan, Telegraph | Leave a Comment »
Posted by hkarner - 16. August 2016
Source: The Wall Street Journal By SIMON NIXON
The ultimate cost of leaving the EU may be largely out of the U.K.’s hands, Simon Nixon writes
It is too soon to count with any certainty the immediate cost of the Brexit vote on the U.K. economy. Some indicators point to a possible recession on the horizon: New manufacturing orders, for instance showed the biggest decline in July for nearly 20 years, while business confidence has taken the steepest dive since 1974.
But other evidence suggests a less severe and shorter-lived shock: stock-market indexes are back above prereferendum levels; sterling has stabilized at around 11% below its prereferendum trade-weighted level; real-estate agents expect housing prices to recover and rise over the next year, while the amount of new commercial real-estate space leased in July was up 24% from the previous year.
Many economists now expect the U.K. will stagnate rather than tip into outright recession in coming quarters. The swift resolution of the post-Brexit political crisis after former Prime Minister David Cameron’s resignation has clearly steadied nerves. The market’s biggest fear was a chaotic or confrontational Brexit process, says Holger Schmeiding, chief economist of Berenberg Bank. “But new Prime Minister Theresa May has so far exuded calm, raising hopes of an orderly exit,” he says. At the same time, the Bank of England’s “kitchen-sink” stimulus package announced this month should also help boost domestic demand to offset some of the impact of uncertainty. Den Rest des Beitrags lesen »
Posted in Artikel | Verschlagwortet mit: Brexit, Britain, Europe, Nixon, WSJ | Leave a Comment »