Brexit (PD) Dominoes

As you trawl around the news today, at all the Brexit bickering, most of it based around how can the decision to Leave be reversed, you have to wonder how much more the people – let alone business, of the UK can take of it.

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We have only 22 days to go until Brexit Day, the day the UK is destined to leave the EU.

But after nearly three years of the establishment fighting it all the way we have reached the point there it cannot shoe-horn us back in quite as easily as its minions thought they could.

All we've had for the intervening 33 months is a constant Remain / Leave battle being fought out in front of us across a gleeful media.

And if our MPs either stupidly sign up to Theresa May's rotten deal or stupidly vote to try and extend Article 50, it could well fray the public's temper beyond breaking point.

And why? Because immediately after either of those two events we end up locked into even more of these discussions, negotiations and arguments all based around Brexit.

There will in both cases, be talk of referendums and either revoking Article 50 or rejoining the EU. Oh yes Brejoin will replace Brexit to become the word of the age. And I don't know if it's relevant, but some of the Brejoin domains have already been taken up.

So, it will just go on and on and on. All to really get no further forward than where are today.

So surely that must be the biggest attraction of a nice clean WTO Brexit for everyone! No more Brexit or Brejoin battles between politicians, no more wall to wall Brexit or Brejoin news on every single channel.

There would be a palpable relief felt across the nation, we could even ban the word 'Brexit' and open post-exit rehab centres for those in denial.

Come on all you politicians, do us all a favour and vote for a no deal Brexit next week and you'll hear cheers across the land! You could even be hoisted shoulder high and lauded as heroes of democracy – instead of being hoiked out dumped at the next election.

Now back to what they're really up to.

As the next so-called meaningful vote on the 12th of March approaches, we were told that if, or more likely when, her Withdrawal Agreement was voted down, to expect a no deal vote the next day and an Article 50 extension vote the day after that.

But Andrea Leadsom, the leader of the House has hinted that this might change, with pundits suggesting that both votes could take place on the Wednesday the 13th of March.

Which means that an extra day will be gained to talk to the EU about extending the Article 50 process.

That will give a PM, desperate to get her deal through, 16 days instead of 15 to get a few weeks extension and the fact this is being considered may be an indicator of how tight time is getting to do anything to stop the no deal Brexit juggernaut.

According to the French Europe Minister, Nathalie Loiseau, if the UK leaves the EU without a deal it might cause 'bitterness between nations'.

She told the Guardian that France fully remembers what it owed the UK during the two World Wars, but that goodwill could be put at risk with a no deal Brexit.

But she also told the BBC that her country had done everything it could to facilitate a smooth Brexit, but if the UK decided to go without a deal then there would be no hard feelings.

I have to say that there should be no bitterness on either side. I just want to leave the EU, not break up friendships. I hate it when the two are conflated in a sort of 'if you don't agree to stay in my club, then we have to hate each other' kind of way. And that is all I'm seeing from the Remain side at the moment I'm afraid.

Now, as you listen to all the Brexit doom and gloom and wallow in Project fear, you could be forgiven for thinking that the UK is about to be submerged forever in a post Brexit swamp.

So it will come as nice surprise to find out that, according to the Knight Frank Wealth Report, London has come out on top in its global rankings.

The report said: "The results show that London has shrugged off concerns regarding Brexit to retake the top spot from New York, with the Big Apple slipping to second place overall. Investment was the only category in which New York managed to outperform the UK capital."

But further, no European cities make it into the top ten and Cambridge is earmarked as the UK's answer to Silicon Valley.

And the Korea Times reports that four of its local banks will be maintaining their operations in London, and I quote: "…despite Brexit doomsday reports and news, which they say have been blown out of proportion". End quote.

And finally, as you will be aware, the Eurozone economy is not looking that rosy, something amply demonstrated by today's decision by the European Central bank (ECB).

The ECB has downgraded its predictions for Eurozone growth – this year – from 1.7% to 1.1%.

And as a result it has pushed any notions of interest rate rises, something that attracts currency investors, out into the future and this has hit the euro exchange rate. But this has also steadied the pound in the process.

The ECB has also announced a new set of special cheap loans to banks. These loans are incentivised to get the banks to then lend on more into the eurozone economy to try and boost growth.

These loans are due to start in September this year, which tells me that the ECB doesn't think that the problems in the Eurozone are just a short term blip.

At the time of researching for this video, sterling is trading at 1.167 euro to the pound and rising, which is up on the month and also higher than this time last year.

And I'm not sure that this is quite the message that the Eurocrats, Eurozone and wider EU27 wanted to send out to the world, let alone to the UK public, just as we approach Brexit Day. Do you?

Sources:

https://www.politico.eu/article/french-minister-no-deal-brexit-could-stoke-anti-british-sentiment/

London regains top spot as world's number one on 'Wealth Index'

http://m.koreatimes.co.kr/pages/article.asp?newsIdx=264896

https://news.sky.com/story/ecb-launches-fresh-loan-stimulus-as-eurozone-economy-slows-11657656

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