Brexit Britain from Abroad: Amid the Political Chaos, Bank Gives Brexit Warning

Bank of England Issues Brexit Warning 

The potential panic phase of Britain’s decision to leave the European Union is effectively history. That appeared to be the message delivered by the Bank of England as it lifted interest rates on Thursday for the first time in a decade, tightening credit in the world’s fifth largest economy.

But if the risk of a precipitous plunge is now safely in the rear view, a trudge through confusing terrain remains ahead as Britain pushes on toward Europe’s exits — or Brexit. It is a journey that will almost certainly entail pain and lost treasure, the central bank explicitly warned in a statement accompanying its rate hike.

“Uncertainties associated with Brexit are weighing on domestic activity, which has slowed even as global growth has risen significantly,” the bank declared. “Monetary policy cannot prevent either the necessary real adjustment as the United Kingdom moves toward its new international trading arrangements or the weaker real income growth that is likely to accompany that adjustment over the next few years.”

The New York Times

 

 

Frankfurt Getting Ready for Brexit

In the Frankfurt district court can soon be negotiated in English. As a consequence of the imminent EU exit from Great Britain, an English-speaking chamber for commercial matters will be set up in early 2018.

"Especially after Britain's exit from the EU, we see a chance to establish Frankfurt as an international court of jurisdiction," said court president Wilhelm Wolf. Businesses should be given the opportunity to conduct negotiations in English.

Die Spiegel

Brexiters Investigated

The British electoral authority has opened an investigation to determine whether the largest donor of the Brexit campaign, businessman Arron Banks, broke the law with his millionaire contributions in the weeks leading up to the 2016 referendum in which the British decided to leave the EU. The money he spent on the Banks campaign, an insurance mogul, is considered the largest donation made in the history of British politics.

Banks lent six million pounds to Leave.EU, the campaign he organized and whose visible face was Nigel Farage, ex-leader of the anti-European and populist UKIP, which is also being investigated by the electoral commission. His contribution makes him the largest individual financier of Brexit.

What the election commission will investigate, as explained in a statement, is whether Banks was the "true source" of loans made in his name. It will also try to determine if one of its companies, Better for the Country, was the true source of donations worth 2.4 million pounds made to the campaign or if it acted as an intermediary for other actors.

El País

Government to Publish Brexit Papers

UK MPs on Wednesday adopted a Labour opposition motion calling for the publication of the estimate measuring the impact of Brexit on 58 sectors, which accounts for about 88% of the UK economy, ranges from advertising to agriculture, pharmacy, commerce, aerospace and tourism. Because of its sensitive nature, the executive had until Wednesday's vote refused to consider the publication of this documentation, arguing that it could weaken its position in the ongoing negotiations with Brussels on the exit of the EU. But on Thursday, in front of Parliament, Brexit Minister David Davis changed his tone, saying he had begun a discussion with the chairman of the parliamentary committee on exiting the EU, Hilary Benn, to determine how "confidentiality of documents" to be published could be managed.

"We will be as transparent as possible," he said, explaining further that "these documents are not a kind of big plan (for Brexit)". "It's regulatory and market data from different sectors that guide our negotiations," he said.

Speaking to the press, a spokesman for the government pointed out the complexity of the problem: "We should not publish anything that could undermine our negotiating position, but we also respect the fact that Parliament has a role to play. to play in this case and that there was a vote last night. "

Bel RTL

 

 

Enjoyed this article?

Help us to fund independent journalism instead of buying:

Also in Disclaimer

Fascists Not Welcome. No Ifs, No Buts, No Fudging, Theresa May Must Cancel Trump’s Visit

The Trump’s administration “zero tolerance” policy of separating children from parents at the border, then incarcerating the children is not just an affront to democratic values. Theresa May must put her caution to one side, stand up to Donald Trump and condemn him and his policies for what they are.

Legalising Cannabis, A Question of When and How

The case of Billy Caldwell has brought a spotlight on Britain's drug laws that go beyond the need for medical marijuana laws. Decriminalisation is no longer enough. Britain must legalise cannabit to win the war on drugs.

An Italy/Canada trade war is not a joke but a sign of worse to come

Italy’s unholy political alliance of the far-right nationalist Northern League and the anti-establishment Five Star Movement has threatened not to ratify a sweeping European Union trade deal with Canada. They are not alone in their concerns but

The Week on Planet Trump: Celebrating Singapore Summit with Praise for “Tough Guy” Kim

Dona;d Trump's extraordinary sumjmit in Singapore with Kim Jung Un has dominated the news. Only a few months ago mant feared a nuclear war and the two squared up with Twitter insults. Now Trump has lavished praise on the brutal dictator.

Tweet Checking: Corbynite Brexit Quislings, and the Role of Our Elected Representatives

Theresa May on the CHristopher Chope affair; Alex Nunns and the Lexiters on Corbyn's EEA absention; the role of an MP. Just some of the things we check for you.