[Merged]Brexit stuff (part 2)

[BlasterBates]

There is going to be a legal challenge to keep the UK in the EEA.

UK think-tank plans legal challenge over Europe single market access | Reuters

That's a good point there was only a referendum on the leaving EU, not the EEA.

[sirja]

There is going to be a legal challenge to keep the UK in the EEA.

UK think-tank plans legal challenge over Europe single market access | Reuters

That's a good point there was only a referendum on the leaving EU, not the EEA.

and the plot thickens even more!

[sirja]

Not been reported in the press much, but gilt (that's British government debt) prices have been behaving peculiarly.
With the fall in sterling you'd expect investors to flock to gilts, but they're not.
Basically foreigners who fund our debt don't have confidence in the British economy, post Brexit.
That means higher costs of British debt, if in fact, anyone can be found to buy it going forward.

Because Britain's economy relies on debt to keep it going, that's a dangerous trend.
Lats time it happened was the 70s, the IMF had to come in.

Interesting times, keep yer powder dry. There'll be a killing to be made for some.

I wonder how much worth of UK Gilts the ECB holds? Would not put it past 'The powers that be' to engineer a gilt crash (rate spike) around March next year

[Paddy]

Third legal challenge

Third legal challenge

Brexit: Legal battle over UK's single market membership

Lawyers say uncertainty over the UK's European Economic Area membership means ministers could be stopped from taking Britain out of the single market. They will argue the UK will not leave the EEA automatically when it leaves the EU and Parliament should decide

Brexit: Legal battle over UK's single market membership - BBC News

[jamesbrown]

There is going to be a legal challenge to keep the UK in the EEA

In some ways, these legal challenges are good news, because they could force May away from her natural opposition to an early GE. With Corbyn's Labour and these legal challenges as a backdrop, the Tories would crush any opposition, and Parliament would look very different after a GE. The Lords would then follow the Salisbury convention or be eliminated in their current form. On the downside, though, these legal challenges are more likely to cause the economic disruption over which the Bremoaners feign so much anguish. Incidentally, the FX markets seem to agree.

[sasguru]

In some ways, these legal challenges are good news, because they could force May away from her natural opposition to an early GE. With Corbyn's Labour and these legal challenges as a backdrop, the Tories would crush any opposition, and Parliament would look very different after a GE. The Lords would then follow the Salisbury convention or be eliminated in their current form. On the downside, though, these legal challenges are more likely to cause the economic disruption over which the Bremoaners feign so much anguish. Incidentally, the FX markets seem to agree.

I agree legal challenges are a waste of time.
Hard Brexit would be the best possible outcome, because it would stop all the Brexiter whining.
Economic disruption (I rather think it will be a bit more than "disruption" ) will occur anyway because the fundamentals of the British economy are so poor.
Oh and with regard to "feigning anguish", it's the Brexiters who are ultimately going get the real anguish being, in general and on average, on the sharp end of an economic downturn.

[jamesbrown]

I agree legal challenges are a waste of time.
Hard Brexit would be the best possible outcome, because it would stop all the Brexiter whining.
Economic disruption (I rather think it will be a bit more than "disruption" ) will occur anyway because the fundamentals of the British economy are so poor.
Oh and with regard to "feigning anguish", it's the Brexiters who are ultimately going get the real anguish being, in general and on average, on the sharp end of an economic downturn.

Wotcha, sas

[BlasterBates]

In some ways, these legal challenges are good news, because they could force May away from her natural opposition to an early GE. With Corbyn's Labour and these legal challenges as a backdrop, the Tories would crush any opposition, and Parliament would look very different after a GE. The Lords would then follow the Salisbury convention or be eliminated in their current form. On the downside, though, these legal challenges are more likely to cause the economic disruption over which the Bremoaners feign so much anguish. Incidentally, the FX markets seem to agree.

Indeed, the only way to make Hard Brexit work is a parliamentary majority all firmly in favour of a Hard Brexit. Only then would the government have a clear strong negotiating position and the will to face up to the inevitable turbulence. With a divided government most of whom don't really want Brexit, a civil service who don't really want Brexit and most businesses who don't want Brexit and an electorate who were promised "milk and honey",it will make it very easy for the EU negotiators to walk all over the UK. It's pretty clear without a GE and a mandate based on a credible plan, rather than a "wishy-washy, it'll be OK trust us" that the UK will end up in the EEA or very close to it.

[sasguru]

Wotcha, sas

We voted for different sides in the referendum, but we're all right jack.
Those who don't have the financial, educational or cultural capital that provide options in bad times are going to get a real shafting - the economic consequences of Brexit in the medium and longer term range from bad to catastrophic.
Only the least analytical/completely innumerate/ideologically brain-washed dream of an enhanced economy post Brexit.

[DodgyAgent]

We voted for different sides in the referendum, but we're all right jack.
Those who don't have the financial, educational or cultural capital that provide options in bad times are going to get a real shafting - the economic consequences of Brexit in the medium and longer term range from bad to catastrophic.
Only the least analytical/completely innumerate/ideologically brain-washed dream of an enhanced economy post Brexit.

I thought we were headed for catastrophe in the short term?