UK Brexit aftermath/repercussions

[robert99]

http://www.nytimes.com/2016/07/29/business/dealbook/lloyds-earnings.html?_r=0
Lloyds Banking Group said on Thursday that it would cut an additional 3,000 jobs and close 200 more branches by the end of next year, as it warned that Britain’s decision to leave the European Union could slow the country’s economy.

The retail and commercial bank, which is partly owned by the British government after a bailout during the financial crisis, said that the economic outlook for Britain was uncertain after the outcome of the June 23 referendum to leave the bloc, or “Brexit,” but that “a deceleration of growth seems likely.”

But don't worry! McDonald's To Create 5,000 New Jobs In UK
McDonald's has announced it will be creating 5,000 new jobs in the UK by the end of 2017.
or maybe you should,
"The chief executive of the McDonald's Corporation, Steve Easterbrook, stressed in May that higher minimum wages were unlikely to affect staff numbers - amid concerns that a $15 hourly rate in the US could prompt the chain to replace workers with robots. "

 

[robert99]

Jeremy Corbyn urges MPs to rethink 'bizarre' attempts to split Labour
The Labour leader responded to reports that some dissenting MPs were preparing to elect their own leader and launch a legal battle for the party’s name and assets if Owen Smith loses the leadership contest.
Corbyn: Labour MPs planning split should think again - BBC News
Challenger Owen Smith said Labour was "on the edge of the precipice".

The Telegraph said "leading moderates" in the party were planning to elect their own leader and shadow cabinet if Mr Corbyn wins the current leadership contest, and possibly launch a legal challenge for Labour's name.

 

[robert99]

Regrexit - Farmers were big supporters of Brexit – but now they have been told their funding isn't assured

 

[Moll Flanders]

The aftermath of the Brexit vote – the verdict from a derided expert | British Politics and Policy at LSE

 

[Pirate]

I got a letter from HSBC, saying that the AER on my ISA is being halfed. Hmph - I blame Brexit.

edit: That was a lot of acronyms

 

[Moll Flanders]

Bank of England cuts interest rates to ward off Brexit recession – as it happened | Business | The Guardian

The real return on cash is going negative

Brexit hit recruitment in July, a new survey suggests - BBC News

Not great news. The interest rate cut is good for me in one sense, as I don't have a fixed-rate mortgage.

ETA - UK interest rate cut: how it will affect you | Money | The Guardian

 

[robert99]

Norway may block UK return to European Free Trade Association
Norway’s European affairs minister, Elisabeth Vik Aspaker, reflecting a growing debate in the country following the Brexit vote in the UK, told the Aftenposten newspaper: “It’s not certain that it would be a good idea to let a big country into this organisation. It would shift the balance, which is not necessarily in Norway’s interests.”

She also confirmed that the UK could only join if there were unanimous agreement, thereby providing Norway with a veto. Aspaker said she did not know the UK’s plans.
(Don't want those trouble making Brits in EFTA - usch no! If you're too good for the EU, don't expect any sympathy for wanting to go in EFTA)

 

[robert99]

Brexit: Government guarantee for post-EU funds - BBC News
EU funding for farmers, scientists and other projects will be replaced by the Treasury after Brexit, Chancellor Philip Hammond has said.

In a move which could cost up to £6bn a year, the Treasury will guarantee to back EU-funded projects signed before this year's Autumn Statement.

Agricultural funding now provided by the EU will also continue until 2020.But critics said the guarantee does not go far enough and there was "continued uncertainty".
Scotland's Finance Secretary Derek Mackay said the announcement "falls far short" of what is needed, saying: "A limited guarantee for some schemes for a few short years leaves Scotland hundreds of millions of pounds short of what we would receive as members of the EU."

Welsh First Minister Carwyn Jones said: "This guarantee only covers about half of the regional funding due to Wales and does not provide the long-term certainty needed and which was promised ahead of the referendum."

And Northern Ireland Finance Minister Mairtin O Muilleoir said that while some applicants for EU funds will be helped, it left a "question mark over scores of other vital projects".

 

[robert99]

Labour risks turning into a freakshow. Everyone needs to calm down | Owen Jones
Labour risks turning into a freakshow. Everyone needs to calm down

 

[Moll Flanders]

Boom or gloom? The economic verdict on Brexit - so far

 

[Blues]

Labour risks turning into a freakshow. Everyone needs to calm down | Owen Jones
Labour risks turning into a freakshow. Everyone needs to calm down

I must admit, it looks more like a comedy watching show from downunder .

 

[robert99]

Italy, France and Germany vow to boost EU security in wake of attacks - France 24
The leaders of Italy, France and Germany vowed Monday to boost joint European security efforts in the wake of Islamic extremist attacks as they made a symbolic bid to relaunch the European Union after Britain's vote to leave.

Monday's mini-summit will serve as a warmup for an EU-wide summit in Bratislava in September designed to chart the EU's post-Brexit way forward. It follows an initial three-way huddle by Renzi, Merkel and Hollande in Berlin in the days immediately following the June 23 British referendum.

There, the three leaders pledged their commitment to European unity and plotted a common proposal to relaunch the European project focusing on three key areas: improving security, boosting economic growth and strengthening options and programs for young people.

 

[Second Summer]

"If we organise Brexit in the wrong way, then we'll be in deep trouble, so now we need to make sure that we don't allow Britain to keep the nice things, so to speak, related to Europe while taking no responsibility."

More: Brexit may send EU 'down the drain' - German vice chancellor - BBC News (28. August 2016)

 

[robert99]

PressTV-‘UK will never leave European Union’
Britain’s departure from the European Union (EU) is impossible considering the complex process it requires, warns a top British professor, blasting Brexiteers for not realizing the “sheer enormity” of their decision.

Professor Thom Brooks, who is head of Law at the University of Durham, doubted that the UK government would ever be able to end the over 4-decades-old membership in the union, The Independent reported Tuesday.

“There is a 42 year evolving legal relationship that is not so easy to unpick. It is an absolutely massive task,” he told the British daily.

In order to leave the EU, Britain needs to invoke Article 50 of the Lisbon Treaty to trigger the process.

Brooks, however, said the article was unlikely to ever be invoked, and if it was it could “let down the next generation.”

EU Commissioner Oettinger 'wouldn't bet big money on Brexit' | News | DW.COM | 30.08.2016
EU Commissioner Oettinger 'wouldn't bet big money on Brexit'
Public sentiment on Brexit could change if the economy in the UK worsened, EU Commissioner Günther Oettinger has said.
The EU leaders see the UK's vote to leave the bloc as "politically binding," Oettinger told German newspaper "Bild" in an interview published on Tuesday.

Still, "it could be that public opinion shifts if the economic situation worsens because of the Brexit vote," he added.
(So is this how things will be played out? Deliberate economic downturn before evoking article 50?)

 

[robert99]

Brexit divisions emerge as Whitehall draws up leave scenarios
Civil servants have been asked to assess the impact of a wide range of Brexit scenarios, from full membership of the European Economic Area (EEA) to a system under which some Europeans would need visas just to holiday in Britain.

Theresa May gathers her cabinet at Chequers on Wednesday with Brexit at the top of the agenda, and the scenarios exercise has already started to expose potential divisions in government.
May has asked every cabinet minister, most of whom campaigned to remain in the EU, to set out how Brexit could be a success in their areas, and will be expecting them to report back on Wednesday.

 

[robert99]

Britain could stay in EU if public opinion shifts, says Tony Blair
Tony Blair has claimed Britain could remain in the European Union, despite the referendum result in favour of Brexit, if public opinion shifts in the next few years.

The former prime minister told a French radio station that people had the right to change their minds on the result of the June referendum, and said the debate would continue throughout the UK’s exit negotiations.

Theresa May has repeatedly insisted that “Brexit means Brexit”, stressing her determination to respect the result of the referendum by taking the UK out of the EU.

But Blair, who wanted the UK to stay in the EU and as Labour prime minister argued for joining the euro, said remain supporters should continue to warn voters about the costs and consequences of Brexit.

Speaking to the French radio station Europe 1, Blair said it was probable that the UK would leave the EU but possible it could stay in.
(So as the proverbial s**t hits the economic fan, Remain politicians hope to put things off indefinitely ...)

 

[Joe]

There is an informal group of people who want to disaffiliate with the Democratic Party in the US. They are calling themselves #DemExit. I think that is a weird choice of a name, invoking as it does an association with Brexit.

See: http://www.bustle.com/articles/1752...ferent-things-neither-is-good-for-party-unity

 

[Joe]

In another discussion forum the organization 38 Degrees was put forward as people who have a positive program for Brexit.

The following website was referenced:

People Powered Brexit

 

[robert99]

Brexit will bring some 'difficult times' - Theresa May - BBC News
Brexit will bring some 'difficult times' - Theresa May. (translation - "We're f'*@ked!")

 

[Joe]

Brexit will bring some 'difficult times' - Theresa May - BBC News
Brexit will bring some 'difficult times' - Theresa May. (translation - "We're f'*@ked!")

So, why doesn't she "pull a Tony Blair" and find some excuse to weasel out of implementing it? After all, she herself opposed it before the election. But she keeps chanting "Brexit means Brexit," or whatever her mantra is.