Boris Pfeffel Johnson elected UK Prime Minister. . .MSM in meltdown.

[spacesailor]

THAT sounds like ,

 

Have prisoners stay in jail to Reform the prison system !. LoL

 

fat chance of any reform 

 

spacesailor

 

 

[Methusala]

I think that GB have had a relatively favored passage as EU members. They maintained control of their currency and even retain the right to drive on their side of the road. Been in France lately and have seen road signs (in English) reminding drivers to stay left. I'm not, by any means, an expert. I simply think that leaving Europe now will carry many negative consequences. GB is relatively small and cannot exert much leverage in the wider world.

 

 

[Old Koreelah]

... GB is relatively small and cannot exert much leverage in the wider world.

 

-and will probably be much smaller after Brexit, as the Scots and Irish break free.

 

 

[Methusala]

Financial Services Industry Slowly Abandons Britain Ahead of Brexit

 

 

 

 

The EU’s markets watchdog has ruled that under a no-deal Brexit, euro shares must be traded inside the bloc, a signal that Brussels may want to deepen its own capital markets union by being tougher in granting equivalence (whereby the EU deems Britain’s financial markets rules to be aligned closely enough to its own).  The result – three UK-based pan-European platforms in London, Aquis, Turquoise and Cboe have already opened hubs in Amsterdam and Paris for EU customers to trade shares listed on other exchanges.

 

And so it goes...

 

 

[facthunter]

IF they stayed in I don't know what mechanism would enable a discriminatory relationship to exist, You usually need  a debt of some magnitude to impose sanctions.

 

  Germany's (so far the European Powerhouse) starting to suffer from lack of orders for stuff. Maybe we will get another 1929  style disaster (recession) due to the  use of trade sanctions to bully people. Trading is a global phenomenon and a delicate balancing act that doesn't need" go it alone types" doing their own thing on a whim and Self- Serving  Crusade. Nev

 

 

[spacesailor]

"that doesn't need" go it alone types"

 

It's the Greedy Bureaucrats in Brussels, that think they'r the elected leaders of all Nations.

 

Another "Hitler's Dream".

 

Will They, Pronounce the new.

 

Republic of Europe

 

Without a vote cast.

 

spacesailor

 

 

[Jerry_Atrick]

I think that GB have had a relatively favored passage as EU members. They maintained control of their currency and even retain the right to drive on their side of the road. Been in France lately and have seen road signs (in English) reminding drivers to stay left. I'm not, by any means, an expert. I simply think that leaving Europe now will carry many negative consequences. GB is relatively small and cannot exert much leverage in the wider world.

 

A Belgium minister gave me my most favoured quote: "When they were in, theu wanted to opt out; Now they are coming out, they want to opt in".

 

Britain was able to derogate from man rules that were deemed collateral due to its size (it is the second biggest economy in the bloc). But I have to applaud the Europeans who almost stick to their principles.. When Cameron went to the EU asking for concessions on the free movement of people, it was swiftly rejected. It is one of the 4 freedoms which is designed to sopt Europe going to war with itself again. It works well.. In their position, I would have said take a hike, too.. Joining the Euro was mandatory for those home states whose constitutions allowed it or where it was settled constitutionally. Famously, the Irish government sent the voters back to the referendum polls until they voted yes...

 

FWIW, and only anecdotally, France has ignored European regs and directives when it has deemed fit and hasn never suffered much of a consequence. They don't formally derigate, liek Britain does... they just ignore. Britain's problem is it is too polite and follows the rules. France's "derogations" rarely become a formal statistic.

 

 

-and will probably be much smaller after Brexit, as the Scots and Irish break free.

 

I took the time to read the Good Friday Agreement. It is very explicit in that, when Northern and the Republic of Ireland together deem themselves ready to form a union, it will be done and Northern Ireland will no longer be a province/state of the United Kingdom. In all honesty, from who I know in London and Somerset, no one would care...

 

Of Scotland, not too many people, except the Scots making more money in London financial services than they ever could in Edinburgh, most people seem indifferent as, apparently (though I have not confirmed it), the real claim to the North Sea Oil/Gas royalties lies the with Shetland Islands, and apparently they are staunchly aligned with England and have (again apparently dsaid) they will break away from Scotland and stay in England (and Wales).. A sort of British Alaska... I do not at all attest to the accuracy of that...

 

Financial Services Industry Slowly Abandons Britain Ahead of Brexit

 

The EU’s markets watchdog has ruled that under a no-deal Brexit, euro shares must be traded inside the bloc, a signal that Brussels may want to deepen its own capital markets union by being tougher in granting equivalence (whereby the EU deems Britain’s financial markets rules to be aligned closely enough to its own).  The result – three UK-based pan-European platforms in London, Aquis, Turquoise and Cboe have already opened hubs in Amsterdam and Paris for EU customers to trade shares listed on other exchanges.

 

And so it goes...

 

I can't speak for the individual corporations involved, but I would say this is a story from a pro-EU publications (and most are; especially the financial press and the finalncial sections of th press).  In 2005, when I forst got into this caper of financial services (unf, in projects and not the actual money makers), I was working for a firm in Melbourne that was actively trading European stocks over the counter (i.e. not in any of the exchanges). My penultimate engagement was a Japanese bank and they actively were trading in European stocks over the counter (OTC - i.e. not on exchange). The bank currently engaging my services uses US based firms to trade stocks OTC.

 

I don't want to go into the technical details, but all of these are trading venues; i.e they are effectively exchanges in their own right. Acquis is a listed exchange; Turqouise is owned by the LSE and CBE is the Chicago Board of Exchange). They are locating their because of a regulation called MiFID II which will make it easier to obtain what is called passporting rights than a branch of a foreign firm. To give you and idea, SMBC (Sino something bank of China) also have a registered business in Frankfurt and a German Banking licence. All their trading is done from London and will be. I have to admit - this really is a project fear quote...

 

IF they stayed in I don't know what mechanism would enable a discriminatory relationship to exist, You usually need  a debt of some magnitude to impose sanctions.

 

  Germany's (so far the European Powerhouse) starting to suffer from lack of orders for stuff. Maybe we will get another 1929  style disaster (recession) due to the  use of trade sanctions to bully people. Trading is a global phenomenon and a delicate balancing act that doesn't need" go it alone types" doing their own thing on a whim and Self- Serving  Crusade. Nev

 

We had a discussion with the economists at work today. It went something like this:

 

Economists: Well, you know, why would we want to leave a bloc that has the 4th largest economy. And, we are dependent on them as they have a large trading suprlus with us...

 

Traders (I am not a trader, but happened to ba around when they were having the discussion): Yeah, but if we stop buying form them abd get our goods fro somewhere else, then how much will that impact them?

 

Economists: Shrugged shoulders (Gallic shrugs at that)

 

I don't understand why Aussies are for the UK staying in the EU... One of the countries the UK are looking to fill the free trade deal void with is Australia. Abbot was out here plugging it (wonder if he found a buyer for coal) and the Aussie High Commissioner is plugging everything from Aussie agriculture to used Holdens...

 

THAT sounds like ,

 

Have prisoners stay in jail to Reform the prison system !. LoL

 

fat chance of any reform 

 

spacesailor

 

I had to give this one a winner.. I didn't know whether to like it or give it a funny... Spacey - best yet!

 

OK... to the EU.. We have to remember... It is a supranational institution, but at the end of the day, it is a trade deal. Of course, it has a lot more attached to it.. And the notion is manifestly profound. But there are so many issues with it, structurally, that it is at best, a sword for the main participants. I would nornally agree with the Greek bloke that it is best to be in it to change it, however, even if feebly, Britain tried, failed and it is now (supposedly) coming out. As I said before, I agree with the EU's decision not to allow Britain to derogate on this critical freedom. But they allow other countries to simply ignore EU laws - if they are powerful enought. The bureaucracy and inertia, with having to get 28 member states all with their own agendas to agree, even as as qualified majority, is nigh on impossible to achieve reform. Britain coming out has shaken the EU to its core.. Juncker, et al have gone on publoc record that it has to take a more flexible and less bureacratic approach.. Of course, being who they are, they can't, but Le Garde (or whatever her name takes over) and hopefully, it will heald a new era - maybe good enough for the UK to rethink it's position - who knows (although as i am on a N reg aircraft, any local reg problems largely don't impact me...)...

 

The current institution is well overdue for an overhaul. It has piecemeal develped since the 50s, where it was concocted for a very different world. It is almost like, they have to scrap it in its current form; take the still relevant and good stuff forward and augment it with more relevant and good stuff.

 

Here are a few of my observations:

 

• If you want to have a union based on market integration, it has to be all or nothing. At the moment, the integration is supposedly the free movement of goods, services and labour. However, to make it fair given the tight integration, it has to be level. Some of the problems they have are; different coproations law per country, different contact law per country, different taxes per country (Luxembourg  is a low tax regime they continue to allow!!!), etc. These all have to be harmonised/the same in order for an supranational trade agreement (aka economy) to work. In fact, taxes should be collected centrally and dolled out to the countries on a proprortional basis after the deductions for the EU costs are taken. Then countries could spend on their domestic issues as they wish. Without a level playing field, many will be justifiably aggreieved. Sure, subsidise those states that are economically worse off to get them to a level playing field but that is what happens today.. Of course, if one centralises the tax take, then problems like Greece have almost are fixed overnight.
   
  
• Your country breaks the rules , they pay the price. This is more easily enforced if the above is taken. Simply, when redistributing the tax take, deduct the fines. Simples.
   
  
• Learn to communicate.. The EU has done a lot of good and much of the bad press is actually poor implementation of EU rules by the particular country. Of course, if the EU decided to scrap directives and recommendations and just dod regulations, then there would be no scope for regulatory arbitrage.
   
  
• There no doubt are more, but the point is, it needs an overhaul and unf. it takes a shock like Brexit to even stand a chance.
   
  

 

 

 

 

 

 

 

 

 

 

 

[facthunter]

I've heard Boris wants to go non metric. The Yanks are not for it either describing it as Un-American. ALL the world uses it in science matters, where intellect is more needed than in politics where a good intellect would be lonely.  What better way to be a loser in a competitive  International market than use outdated threads and measures that are unique to you.. Nev

 

 

[Litespeed]

Boris the man who makes Borat look a genius.

 

 

[Yenn]

Boris may look bad, but do they have anyone who could do the job. They are in an impossible situation. Theresa May came up with an agreement with the EU. Parliament wouldn't accept it. Theresa May went after a lingering delay to find a new PM.

 

The EU sit back and say we negotiated and you reneged on the deal. Get lost!

 

I just wonder if there is anyone who can do an acceptable deal. If it was me I would say. Drop Northern Ireland from Britain and Scotland also if that is what they want, then go it alone or a new deal.

 

 

[spacesailor]

" after the deductions for the EU costs are taken."

 

That would be the Biggest bite of all.

 

New CEO,s salary Equals an average country's GDP.

 

England should have let the Russians take over Europe in 1945.

 

spacesailor

 

 

[spacesailor]

Just a facebuk copy. To explain my rant. spacesailor

 

 

 

 

[Jerry_Atrick]

I've heard Boris wants to go non metric. The Yanks are not for it either describing it as Un-American. ALL the world uses it in science matters, where intellect is more needed than in politics where a good intellect would be lonely.  What better way to be a loser in a competitive  International market than use outdated threads and measures that are unique to you.. Nev

 

I certainly haven't heard that and a quick google search doesn't yield anything that indicates that. FWIW, when I arrived here in '96, I went to a butcher and asked for 2 x 200g pieces of Scotch Fillet.. He berated me for not eating English Fillet (at which point I said where I come from, it is known as Scotch - the meat is actually Aussie) and then he had to look up a conversion chart to work out how many ounces it was..

 

There are a few crusty old folk who would love the return of imperial measurement, but I can't even recall it as a topic of conversation in the last 3.5 years.

 

Boris the man who makes Borat look a genius.

 

Well, it looks like he has got at least Varadkar to agree a pathway to a deal...  Actually, despite his public buffoonery, he is seen as quite intelligent.

 

Borat isn't too bad either.. I believe he is worth quite a bit of money...

 

Boris may look bad, but do they have anyone who could do the job. They are in an impossible situation. Theresa May came up with an agreement with the EU. Parliament wouldn't accept it. Theresa May went after a lingering delay to find a new PM.

 

The EU sit back and say we negotiated and you reneged on the deal. Get lost!

 

I just wonder if there is anyone who can do an acceptable deal. If it was me I would say. Drop Northern Ireland from Britain and Scotland also if that is what they want, then go it alone or a new deal.

 

Looks like Boris is on the way to doing an acceptable deal. In answer to your first question - not really. If you think Aussies think low of their pollies, you should see the general public sentiment here. My son, an ardent (17 year old) remainer nad his generation rightfully believe that demicracy in the UK is a facade. In reality, there is no alternative here.. all snouts dug into the trough heavily exposed.

 

 

[facthunter]

Jerry, My sources are usually correct. Why wouldn't he run that line? He is a noted LIAR though  so perhaps the message is tailored to the situation and audience. Trump has it( Unified thread system) and the whole of the US accepts it. I reckon it costs them heaps on the trade side. Perhaps using your brain is Un American too.. Have you EVER seen some one like Trump who appears to be so challenged intellectually (and educationally. He says he's never read a book. I don't find that hard to believe) in anything like such a position of POWER as he's in?  He can claim to be elected to and says... IF he's dismissed it will start a Civil War.. . I wonder how a psychological assessment would go? . Nev

 

 

[Methusala]

Possible for Boris to stitch up a deal. After all, it is only the 1% that need to find it acceptable (the same 1% who pushed the whole Brexit barrow). An obvious narcissist, with Oxbridge quals, these people are so far from being concerned about how their actions affect the "great unwashed"(that's everyone else). Look at how well our own ,entitled, failed advertising executive is doing in the popularity polls. Marvellous how a tame media smooths out the bumps.

 

 

[Yenn]

How come 1% pushed the Brexit barrow. With 1% it would never have passed. You mean 1% on top of 50% surely.

 

 

[Old Koreelah]

...Have you EVER seen some one like Trump who appears to be so challenged intellectually (and educationally. He says he's never read a book. I don't find that hard to believe) in anything like such a position of POWER as he's in?  He can claim to be elected to and says... IF he's dismissed it will start a Civil War.. . I wonder how a psychological assessment would go? . Nev

 

The psychological parallels with Hitler are ominous. When total defeat was obvious, Der Fuhrer sent little boys out to fight Soviet tanks while he hid in his bunker.

 

Will Trump condemn his country to destruction just to protect his position?

 

 

[Methusala]

How come 1% pushed the Brexit barrow. With 1% it would never have passed. You mean 1% on top of 50% surely.

 

Yenn, I'm talking about the 1% who own 100% of the media. They are so powerful that you may not even be aware of the overwhelming power they wield.

 

 

[Yenn]

OK Methusela, but no matter who owns the media we have the ability to read between the lines. Sadly it seems that anything written nowadays is considered to be truth.

 

No matter what the topic there are people pushing their own barrows and getting an airing in the media. We need to be aware of that fact and ask ourselves what is behind this story.

 

 

[spacesailor]

If we don't believe what  we read, all those books in the library should go the  way of the "German book burning " in the 40s.

 

Then we can pass on our history by the old singsong that preceeded the writen word.

 

Starting  with the Bible. For the lies it must have.

 

spacesailor

 

 

[Jerry_Atrick]

@facthunter, I am not saying BJ didn't say he wanted to bring back imperial measurements; all I am saying is that I hadn't heard it - at least from the referndum campaign onwards - and I would have thought it would be big news if he did say it.

 

@Methusala, while Murdoch news establishmnents are probably pro-Brexit, they aren't the only gig in town (here) and almost all of the others are pro-Remain. However, I take the point - the carp that Murdoch spits out is probably consumed by the bulk of the Brexit voting public... But given the result, not by that much

 

 

[Marty_d]

The psychological parallels with Hitler are ominous. When total defeat was obvious, Der Fuhrer sent little boys out to fight Soviet tanks while he hid in his bunker.

 

Will Trump condemn his country to destruction just to protect his position?

 

Is his country stupid enough to put up with that?

 

 

[Old Koreelah]

Is his country stupid enough to put up with that?

 

 

 

I fear many of his supporters are.

 

 

[Methusala]

I'm not wanting to claim that, "Only Murdoch sells propaganda". Of course there is diversity in news reporting. But Goebel's reported line, that the bigger the lie and the more often it is told, seems to fit a lot of our Murdoch publications here. It seems to me that, having a very large share of popular media in Australia, the accepted "truth" is skewed across the spectrum. ABC has succumbed to years of criticism by Murdoch and LNP politiciuans to become very timid. Emma Alboreci's story is a case in point.

 

 

[Yenn]

My forecast.

 

The parliament has not voted on Saturday, so Boris has another go at getting it passed.

 

He will fail and as he has already asked the EU for an extension, or maybe not asked as he didn't sign the letter, the EU will say yes to an extension.

 

If the EU said no, then the UK has to make a decision, either leave or stay. Either way the EU is ahead. If the UK stays the EU is happy, if it decides to leave, then there will be another vote on stay or leave

 

If stay the EU is even happier, if leave, then the UK is in real strife.

 

My forecast is that the UK will not exit. The whole Brexit was a fiasco, caused by politicians promising what they could not deliver.