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The former Tory leader, Iain Duncan Smith, says that the financial markets should just calm down about Brexit, as the UK economy is sound.
PLEASE WATCH THE VIDEO BELOW
Tory Brexiteer Iain Duncan Smith told Bloomberg TV today that investors should calm down and he accused the financial markets of overreacting to the negative forecasts for the UK economy as Brexit approaches.
And Bloomberg reports that:
"He said economic experts, including Bank of England Governor Mark Carney, have been proved repeatedly wrong on the impact of Brexit and insisted that the fundamentals of the U.K. are strong."
Iain Duncan Smith said:
"The markets themselves have got to be a bit more responsible about constantly panicking, jumping and being jittery. It will eventually get settled. The economy is more robust than people give it credit for."
A nice sentiment from the Tory Brexiteer, but trying to tell those involved in the financial markets where fortunes are made and lost on a daily basis, may be a bit of a tall order.
Now this next bit of news should make every Tory Brexiteer worried.
It is claimed that EU documents that shred Theresa May's Chequers based Brexit deal were kept secret so as to ensure her fragile government was kept in power.
"The blistering analysis of Britain's offer was due to be published on July 6 to the public – says the Express – after member states had been briefed on the finer details by the Commission's negotiating team.
"However, they never saw the light of day after an intervention from a number of member states ensured they would remain unreleased because of their political sensitivity.
"One senior EU official explained to Express.co.uk that member states and Mr Barnier's team had been instructed to welcome Mrs May's White Paper with open arms and not to kill it off instantly."
According to the report the EU was concerned that, should her deal be instantly killed off it would destabilise her government and a no-deal scenario would be staring them in the face.
Now, what that instantly tells me, is that the Eurocrats must believe that any deal is better than no deal for them. Whereas for the UK I would say that a no-deal WTO exit from the bloc is better than any deal, including full or an EEA type membership.
Either that or the Eurocrats are still of the opinion that all they have to do is bide their time before the UK comes back to the fold with its tail between its legs. And knowing our dear leader's and her chosen team's proclivities when it comes to the EU, Brussels might well now be banking on that and be therefore unwilling to put her in an untenable position.
But while the EU tries to keep its reports under wraps they are worried that British intelligence is out to get them!
"The European Union's Brexit negotiators fear that they are being bugged by the British secret service after the UK obtained sensitive documents "within hours" of them being presented to a meeting of EU officials last month…" Reports the Telegraph.
Now, this is a new one on me, I thought Brexiteers only got their intel from the Kremlin!
Ah and finally, a four horsemen of the apocalypse story from the Independent about Brexit.
It seems that the British Medical Association is warning that a no-deal Brexit would make the UK more vulnerable to outbreaks of deadly diseases.
"A no-deal Brexit could increase the risk of a Europe-wide pandemic, according to the British Medical Association." Reports the 'paper.
The BMA says we could lose access to the EU's central health reporting systems, but I have to say that would just take common sense on both sides to agree the sharing of data, wouldn't it.
The medical body also says we suddenly would not have access to all sorts of medical supplies – I ask why? If the EU wants to sell us stuff and we want to buy it or vice versa – then hey presto.
Then it says that EU doctors' qualifications are automatically recognised in the UK so they can work here – well who's going to stop that?
Surely what should have been set up by now is a fully fledged Health authority for the UK with all the powers and access to politicians to deal with this stuff. In fact when you look it up we have loads of health and medicine bodies – are they being geared up for Brexit to replace what the likes of the European Medicines Agency does?
One final point is that even while we are in the EU, healthcare is still a national government responsibility, so EU authority in this regard should be minimal should it not.
In fact under the Treaty of the Functioning of the European Union, "…..the EU shall fully respect the responsibility of individual Member States to define their health policies and organise and deliver their health services and medical care, including any resources allocated to them".
Or could it be that the UK has bit by bit handed that responsibility over to the EU along with everything else?