UK likely to have “clean break” with EU

[webfact]

UK likely to have “clean break” with EU

 

 

LONDON: -- Britain will not be seeking a “half in, half out” deal with the European Union. That’s according to officials ahead of a long awaited speech by Prime Minister Theresa May in which she is expected to set out her Brexit priorities.

 

She will call for a “new and equal partnership” with the EU: “Not partial membership of the European Union, or an associate membership of the European Union.”

 

So far the premier has been accused of “muddled thinking” in her approach to the divorce talks with Brussels. But recent signals that she is now preparing for a hard Brexit have worried some.

 

Nicola Sturgeon, Scotland’s First Minister is among them. In particular she has been alarmed by comments made by the UK’s finance minister, Chancellor Philip Hammond, to German media at the weekend.

 

Hammond told the German newspaper Welt am Sonntag that Britain is prepared to “do whatever we have to do,” including turning away from Europe and towards other markets, to protect its economy.

 

Hammond also suggested that Britain could cut taxes to encourage companies to move to the UK.

 

“ The hints about what (Theresa May) she is likely to say and the comments of Phillip Hammond in the German newspaper are deeply troubling. What he is describing is a race to the bottom – a sort of bargain basement economy where the UK government will try to attract business to the UK by offering lower taxes, lower wages, less regulation in terms of workers rights,” said Nicola Sturgeon.

 

On the eve of May’s speech in front of a gathering which will include foreign ambassadors in central London, sterling fell sharply.

 

Currency traders and and investors are generally opposed to a clean break with the EU – away from preferential single market access in an economic bloc which accounts for roughly half of Britain’s experts and imports. They don’t want to hear that access to the EU’s single market will be sacrificed in favour of tighter control over immigration.

 

But “Brexiteers” ( suporters of the “Leave” campaign”) claim that’s exactly what the country voted for in the June 23 referendum.

 

Theresa May has said she intends to trigger Article 50 by the end of March which will mark the beginning of formal divorce talks with Brussels.

 

-- © Copyright Euronews 2017-01-17

[maxtwo]

No need to negotiate just stop the money and close the borders job done.

[Prbkk]

She's good: Thatcher-like but with some heart and a lighter touch ( and a vaguely sexy finish).

[jpinx]

Can the mods redirect all the brexit threads to this, most recent headline ?   Thanks :)

[jpinx]

qotd :-  "A bad deal would be worse than no deal"

It's a nice touch that she's standing in the same spot as was MrsT when she took us into that unholy alliance.

 

As the speech progressed the US$/£ went from about 120 to about 123. 

 

 

[pegman]

Which city(s) in the E.U. get  all the banking and insurance industry riches & jobs from the City of London? Once the transfer begins to take place you could easily see a £=$. It seems like absolute madness. It would be best to test this decision by general election.

[jpinx]

1 minute ago, pegman said:

Which city(s) in the E.U. get  all the banking and insurance industry riches & jobs from the City of London? Once the transfer begins to take place you could easily see a £=$. It seems like absolute madness. It would be best to test this decision by general election.

That was covered in the speech - if you care to read it

[steve187]

2 minutes ago, pegman said:

Which city(s) in the E.U. get  all the banking and insurance industry riches & jobs from the City of London? Once the transfer begins to take place you could easily see a £=$. It seems like absolute madness. It would be best to test this decision by general election.

What decision

[kevkev1888]

14 minutes ago, jpinx said:

qotd :-  "A bad deal would be worse than no deal"

It's a nice touch that she's standing in the same spot as was MrsT when she took us into that unholy alliance.

 

As the speech progressed the US$/£ went from about 120 to about 123. 

 

 

 

Just being pedantic. That was 'No deal, is better than a bad deal'.

[baboon]

Can anybody explain to me (in terms befitting a simpleton) why the Pound rose? I'm not complaining about it, but I would have thought it would fall further..?

[jpinx]

1 minute ago, baboon said:

Can anybody explain to me (in terms befitting a simpleton) why the Pound rose? I'm not complaining about it, but I would have thought it would fall further..?

I asked that of someone who sets great store in the FX

http://www.thaivisa.com/forum/topic/948067-gbp-pound-continues-to-take-a-pounding/?page=3#comment-11531794

...but there's no answer yet

 

 

[Aforek]

Very good, Britain, leave frankly and never come back : best thing for EU

[chiang mai]

6 minutes ago, baboon said:

Can anybody explain to me (in terms befitting a simpleton) why the Pound rose? I'm not complaining about it, but I would have thought it would fall further..?

 

Markets have now seen the first public statements by the PM on her strategy rather than the odd comment here, a remark there. There is no longer any uncertainty regarding the approach plus she has confirmed that both houses will get to vote on it all. No uncertainty, remain is no longer likely, full participation ensured.

[jpinx]

6 minutes ago, chiang mai said:

 

Markets have now seen the first public statements by the PM on her strategy rather than the odd comment here, a remark there. There is no longer any uncertainty regarding the approach plus she has confirmed that both houses will get to vote on it all. No uncertainty, remain is no longer likely, full participation ensured.

This makes the method of invocation of Art50 almost irrelevant, since the final deal will get full debates in both houses

[Laughing Gravy]

7 minutes ago, Aforek said:

Very good, Britain, leave frankly and never come back : best thing for EU

 Quote of the day to you sir. Yes the UK will stop feeding the through of the UK and propping up countless countries. The UK will also start  doing business with the rest of the world without the EU interference. Yes the UK will also give the middle finger to the ECJ to the terrorist and others who have taken our liberalism and good will and say no more. The UK will start to make decisions for itself. If people don't like that then I suggest they should move to the EU zone as they really are not going with the people on this.

 

Please don't even suggest I am Racist, as I am not. I am however sick of the constant wringing from people all coming from the UK.who frankly I feel let down, as someone who I would call coming from the UK. Disappointed on so many levels.

[Laughing Gravy]

15 minutes ago, chiang mai said:

 

Markets have now seen the first public statements by the PM on her strategy rather than the odd comment here, a remark there. There is no longer any uncertainty regarding the approach plus she has confirmed that both houses will get to vote on it all. No uncertainty, remain is no longer likely, full participation ensured.

Yes and both houses are going to support what she says, as they said before (political talk), so don't get all excited, there will not be another referendum. She has stated we are leaving the EU. Deal with it.

Stop clutching at straws. The UK is leaving the EU.

[chiang mai]

Just now, Laughing Gravy said:

Yes and both houses are going to support what she says, as they said before (political talk), so don't get all excited, there will not be another referendum. She has stated we are leaving the EU. Deal with it.

 

Er, yes, we um, er, did deal with it, six months ago or more, it rather sounds however that perhaps you haven't!

[Basil B]

Kind of of left Junkers speechless.... 

 

By saying we are going and we do not need Europe has left Anglia's pet Rottweiler looking like a  toothless poodle... 

[jpinx]

Not only is there a sigh of relief, there is also a strengthening pound, EU worries about the "tax-haven on the EU's doorstep" and the paving of the way for other EU members to leave.  *Now* will the EU reform or not?  It won't matter to UK if they do or not, but it'll be interesting to see how long Germany and her colonies can hold it together, because that's what it's become.......

 

[jpinx]

Keep up with the conversation here...

 

[rockingrobin]

12 hours ago, jpinx said:

This makes the method of invocation of Art50 almost irrelevant, since the final deal will get full debates in both houses

Not really, is parliament involved at beginning or end of the process. If the gov. comes back without a deal then there is nothing to debate. 

[Baerboxer]

14 hours ago, baboon said:

Can anybody explain to me (in terms befitting a simpleton) why the Pound rose? I'm not complaining about it, but I would have thought it would fall further..?

 

Yes, I thought it would go down rather than up. But apparently the Fx gurus had already factored the hard Brexit it when the pound fell as she announced she would be making the speech. They were pleased she announced parliament would vote on the exit deal and that caused the rise. 

 

Interesting to see how they react when the Supreme Court gives it's ruling on triggering Article 50 - I have no frigging idea how the pound will go then!

[Alan Deer]

19 hours ago, maxtwo said:

No need to negotiate just stop the money and close the borders job done.

THat'll stop the money alright!

[Alan Deer]

14 hours ago, Laughing Gravy said:

Yes and both houses are going to support what she says, as they said before (political talk), so don't get all excited, there will not be another referendum. She has stated we are leaving the EU. Deal with it.

Stop clutching at straws. The UK is leaving the EU.

I think you'll find that people are "dealing with it" in the usual democratic way - vigorous opposition....at every step.

[Baerboxer]

14 hours ago, jpinx said:

This makes the method of invocation of Art50 almost irrelevant, since the final deal will get full debates in both houses

 

No it doesn't. The invocation of Article 50 must be in done in accordance with UK constitutional law. Not what's convenient for May and the Tories. The referendum was enacted into law as an advisory referendum. No mention about implementing it without full parliamentary debate and voting. As a representative democracy, all MP's should know how their own constituents voted. 

 

If they voted in accordance with constituents wishes could be interesting. And something the Tories daren't risk.

[jpinx]

6 minutes ago, Baerboxer said:

 

No it doesn't. The invocation of Article 50 must be in done in accordance with UK constitutional law. Not what's convenient for May and the Tories. The referendum was enacted into law as an advisory referendum. No mention about implementing it without full parliamentary debate and voting. As a representative democracy, all MP's should know how their own constituents voted. 

 

If they voted in accordance with constituents wishes could be interesting. And something the Tories daren't risk.

UK does not have a written  constitution.  The PM clearly stated that the result of the referendum was going to be enacted.  This has been done previously by RP. The RP allows for foreign treaties to be made or broken.  The act of parliament that would enact the RP will come after the "deal" - or lack of it - is agreed and placed before the 2 houses for debate and a vote. 

[Guest]

15 hours ago, baboon said:

Can anybody explain to me (in terms befitting a simpleton) why the Pound rose? I'm not complaining about it, but I would have thought it would fall further..?

It was because May said the brexit is going through parliament, therefore there is chance of nobrexit.

 

In case parliament votes for brexit, pound will drop further.

[rockingrobin]

29 minutes ago, jpinx said:

UK does not have a written  constitution.  The PM clearly stated that the result of the referendum was going to be enacted.  This has been done previously by RP. The RP allows for foreign treaties to be made or broken.  The act of parliament that would enact the RP will come after the "deal" - or lack of it - is agreed and placed before the 2 houses for debate and a vote. 

Incorrect , UK constitution is based on a mixture of case law and written acts such as Bill of Rights.

The RP can be used in foreign affairs because such treaties remain on the international plain and have no standing in the domestic sphere unless parliament wishes to incorporate them.

Art1 Bill of Rights RP cannot be used to alter domestic law. As parliament trumps RP, once parliament incorporates a treaty into domestic law it fetters the RP in relation to that treaty.

[jpinx]

Art50 is a foreigns affairs matter, concerning a treaty with a foreign entity.  The bill of rights does not apply to Art50, but might come into play later when the subsequent acts of parliament are being debated and voted on.

I repeat - the UK has no written constitution.

[jpinx]

35 minutes ago, oilinki said:

It was because May said the brexit is going through parliament, therefore there is chance of nobrexit.

 

In case parliament votes for brexit, pound will drop further.

Dream on