Föhrenbergkreis Finanzwirtschaft

Unkonventionelle Lösungen für eine zukunftsfähige Gesellschaft

Posts Tagged ‘UK’

From Great Britain to Little England?

Posted by hkarner - 30. März 2017

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„Dear President Tusk“ … the British § 50 Letter

Posted by hkarner - 29. März 2017


.. a wishlist for Christmas (e.g. item iii.) (hfk)

Angela Merkel derails Theresa May’s Brexit plan by rejecting parallel trade talks

The Independent, 29/3

Britain is to be put into the slow lane

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Chief EU Brexit Negotiator Warns Britain of ‘Serious Consequences’ if No Deal Is Reached

Posted by hkarner - 23. März 2017

Date: 23-03-2017
Source: The Wall Street Journal

Michel Barnier says millions of citizens will face uncertain future

Michel Barnier, the EU’s chief Brexit negotiator warned Britain that divorce talks must be concluded.

BRUSSELS—European Union’s chief Brexit negotiator gave the U.K. a stark warning about the serious consequences it would face if it fails to agree to divorce terms with the bloc.

Speaking days before the U.K. is due to trigger its formal exit notification from the bloc, Michel Barnier on Wednesday warned Britain’s government that the U.K. would be “gravely affected” if there was no deal at the end of the two-year negotiation window.

“We have to call a spade a spade, there won’t be any business as usual,” Mr. Barnier said. “This is not a minor event. It’s a serious and exceptional situation.”

He said that in the case of no deal, British businesses would face significant supply-chain problems, the reintroduction of customs controls that could gum up British ports and there would be major challenges for seamless air travel to and from the U.K.

Even the supply of nuclear material to the U.K. would be at risk because the U.K. would be left outside of the EU’s nuclear-research and safety agreement, he said. Den Rest des Beitrags lesen »

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UK-based airlines told to move to Europe after Brexit or lose major routes

Posted by hkarner - 23. März 2017

Date: 22-03-2017
Source: The Guardian

Exclusive: Fears for UK jobs as EU officials say airlines will need to move base and majority of shareholders to fly routes within Europe

It is thought that both easyJet and Ryanair would have less than 50% of their shares held by EU nationals after Brexit.

EU chiefs have warned airlines including easyJet, Ryanair and British Airways that they will need to relocate their headquarters and sell off shares to European nationals if they want to continue flying routes within continental Europe after Brexit.

Executives at major carriers have been reminded during recent private meetings with officials that to continue to operate on routes across the continent – for instance, from Milan to Paris – they must have a significant base on EU territory and that a majority of their capital shares must be EU-owned. Den Rest des Beitrags lesen »

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U.K. Trade Policy After Brexit Must Reckon With Gravity

Posted by hkarner - 22. März 2017

Date: 21-03-2017
Source: The Wall Street Journal

Countries export more to big economies than they do to small ones—a pattern May and Trump should keep in mind


To boost trade after Brexit, the U.K. will have to grapple with a powerful force: gravity.

Economists have for decades observed that the volume of trade between economies is tightly linked to their size and proximity. Countries export more to big economies than they do to small ones, and they trade more with neighbors than with markets further away.

For the economists who first discerned them, these patterns recalled the effect of gravity on celestial bodies in classical physics, where the force exerted by one object on another is determined by mass and distance. This phenomenon helps explain why the U.S.’s biggest trading partners are China and Canada and why the U.K. exports more to Ireland in a year than it does to India or Brazil. Den Rest des Beitrags lesen »

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Neue Vizechefin der britischen Notenbank tritt nach wenigen Tagen ab

Posted by hkarner - 14. März 2017

Charlotte Hogg hatte die Tätigkeit des Bruders bei Großbank nicht erwähnt.

 Die für Geldhäuser und Märkte zuständige Vizechefin der Bank of England, Charlotte Hogg, nimmt nach nur wenigen Tagen im Amt ihren Hut. Das Direktorium habe das Rücktrittsangebot der wegen eines möglichen Interessenskonflikts unter Druck geratenen Währungshüterin „mit großem Bedauern“ angenommen, teilte Notenbankchef Mark Carney am Dienstag mit.

Zuvor hatte ein Parlamentsausschuss Hogg als ungeeignet für das Amt bezeichnet. Sie räumte vorige Woche ein, dass sie die Tätigkeit ihres Bruders bei der Großbank Barclays in den von ihrem Arbeitgeber vorgelegten Formularen nicht erwähnt hatte. Barclays unterliegt der Aufsicht der BoE.  Den Rest des Beitrags lesen »

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U.K.’s Brexit Walkout Threat Leaves EU Unmoved

Posted by hkarner - 10. März 2017

Date: 09-03-2017
Source: The Wall Street Journal By SIMON NIXON

EU insists it won’t discuss trade until divorce is done, putting Theresa May at risk of having to carry out her vow to walk away

Prime Minister Theresa May

With the U.K. most likely just days away from formally triggering the Brexit process, Downing Street is rattled. Its anxiety has little to do with the continuing parliamentary debates over the bill to allow the government to invoke Article 50 of the Lisbon Treaty: Despite two defeats in the House of Lords, senior officials are confident that Article 50 will be triggered as planned by the end of this month. Instead, what is really unnerving Prime Minister Theresa May’s government is the very real possibility that the Brexit negotiations will collapse before they have properly begun, leaving the U.K. to crash out of the EU in 2019 with no deal.

If the European Union continues to insist that it won’t discuss a new trade relationship until the U.K. agrees to an expensive divorce deal, Mrs. May really will walk away, British officials say. The U.K. government is adamant that both deals—divorce and trade—must be negotiated in parallel.

Downing Street has grounds for being rattled, because there is little sign the EU has any intention of giving way. True, the U.K. has some allies. Some senior figures in the German finance ministry, for example, believe the EU should, after a suitable delay, start discussing future trade ties with the U.K. But in the German Chancellery, which calls the shots and appears to have prepared for Brexit almost as intensively as the British government, officials are sticking to the EU script. There is frustration at what some in Berlin see as “deliberate misconceptions” being promoted by the U.K. government, including playing down the complexity of the divorce negotiations. Den Rest des Beitrags lesen »

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Tony Blair is right on Brexit. Now he should get into the trenches or back off

Posted by hkarner - 19. Februar 2017

Date: 17-02-2017
Source: The Economist

Blair CCTONY BLAIR’S speech on Brexit on the morning of February 17th attracted a predictable storm of derision. Today the former prime minister serves as a sort of Rorschach test for whatever irks the viewer: to the left he stands for free-market capitalism and war, to the right he stands for a hyper-metropolitan internationalism, to some of his former acolytes he stands for how not to secure one’s political legacy after leaving politics. In parts of Westminster and Fleet Street voicing nuanced opinions about Mr Blair meets with a mix of bafflement and distaste, like ordering veal at a vegan restaurant.

To be sure, some of the criticism is valid. Mr Blair presided over the build-up to Britain’s financial and economic crisis and the failure of the post-invasion period in Iraq. His globe-trotting, pro-globalisation breeziness clashes with the prevailing mood among electorates in much of the West. His business activities since leaving Downing Street (ten years ago this June, believe it or not) have done his domestic reputation significant harm.

Yet the shame of all this is that it detracts from the many things Mr Blair says that are worth heeding. He may have been out of British politics for a while—that mid-Atlantic accent does not lie—but he remains the most successful British politician of the past two decades. To read some of his critics you would think his record, leading a previously unelectable party to three strong election victories, was achieved by pure fluke or by casting some sort of spell on an electorate that would never ordinarily vote for him. Whisper it softly, but perhaps the former prime minister is a better strategist, a more expansive thinker and operator, than these infantile interpretations allow. Den Rest des Beitrags lesen »

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The Disunited Kingdom

Posted by hkarner - 26. November 2016

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Brexit: Sir John Major says ‚perfectly credible‘ case for second referendum

Posted by hkarner - 26. November 2016

Date: 25-11-2016
Source: The Guardian

john-major-ccFormer PM says ‘tyranny of the majority’ should not dictate manner of UK’s exit from the European Union in remarks likely to anger pro-Brexit Tories

Sir John Major has suggested the terms of Brexit could go to a second referendum, while Tony Blair has suggested the British people could change their mind.

Sir John Major has declared there is a “perfectly credible” case for a second referendum on Brexit and people who voted to remain should not be subject to the “tyranny of the majority”.

The former prime minister said the views of Remain voters should be heard in the debate about how Britain will leave the European Union.

The ex-Conservative leader told guests at a private dinner that the 48% of people who voted to stay in the European Union should have their say on the terms of the deal for breaking away from Brussels. Den Rest des Beitrags lesen »

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