Sunday, July 3

Day: June 28, 2016

Angela Merkel: no special favours for UK over single market
ENGLISH, Europe

Angela Merkel: no special favours for UK over single market

    Angela Merkel, the German chancellor, has dismissed leading Brexit campaigner Boris Johnson’s proposal that Britain might enjoy access to the European single market and restrict immigration at the same time, telling German MPs the UK will enjoy no special favours. In a speech to the Bundestag, Merkel said negotiations over Britain’s post-EU future would not be a “cherry-picking exercise”. To applause, she warned that the UK government should be under no illusions over the decisions that would be made. “We will make sure that negotiations will not be carried out as a cherry-picking exercise. There must be and there will be a palpable difference between those countries who want to be members of the European family and those who don’t,” she said. Writing in the Daily Telegrap...
5 ways today’s Brexit crisis will affect you
ENGLISH, United Kingdom

5 ways today’s Brexit crisis will affect you

    The pound: what happened? The pound fell to a fresh 31-year-low against the dollar. Today one pound bought just $1.32. That was lower than in any year since 1985 – lower even than the level it sank to last Friday in the wake of the referendum result. What it means The pound’s massive correction last Friday was not a one-off. Boris Johnson, the Leave campaign figurehead said today that markets were “stable”. That was wishful thinking. The markets are still plainly extremely rattled by Brexit and there seems to be further for the pound to fall. Some analysts speculated before the referendum that it could fall 20 per cent before stabilising. So far it is down around 14 per cent. Gilt yields: what happened? 10 year Gilt yields – the interest rate markets effectively char...
This is now Project Betrayal and we are all victims
ENGLISH, United Kingdom

This is now Project Betrayal and we are all victims

    This is the great betrayal. Just about everyone feels betrayed from every possible perspective. As the pound plunges, sending oil and food prices up while wages stagnate, with shares and pension values falling, the country is seeing the consequences of being mortally betrayed – by the self-indulgent members of a government who brought this calamity down on all of us. Some who voted leave will feel betrayed by the unfolding economic tremors after they were told to ignore the warnings of Project Fear. Recession threatens a huge loss of jobs; banks decamping; airport, rail and house-building projects suspended; airlines issuing profits warnings; credit card companies reporting a dive in spending; a quarter of Institute of Directors companies freezing recruitment. I keep findi...
Turkish-Israeli Reconciliation Agreement signed this morning
Arab world, ENGLISH

Turkish-Israeli Reconciliation Agreement signed this morning

    After 6 years where there has been a serious crisis in diplomatic relations, the Turkish and Israeli Foreign Ministries signed the reconciliation agreement. Tomorrow, the cabinet is expected to approve the agreement. This morning, the Turkish and Israeli Foreign Ministries signed the Reconciliation Agreement that will bring about an end to the serious diplomatic crisis that has existed between the two countries since the Mavi Marmara raid in 2010. Tomorrow, the cabinet is expected to approve the deal. “At this good hour, Dr. Dore Gold of the Israeli Foreign Ministry signed the agreement with Turkey,” the Israeli Foreign Ministry spokesman stated and a similar announcement was made by the Turkish Foreign Ministry.
Family rifts over Brexit: I can barely look at my parents
ENGLISH, United Kingdom

Family rifts over Brexit: I can barely look at my parents

    Anti-Brexit protesters demonstrate at the gates of Downing Street ‘I’m worried Brexit has made me ageist,” a friend said, following the shock of the referendum result on Friday morning. “I saw this older couple in the street and just felt this sudden, enormous wave of fury towards them and their generation. It was almost physical.” In the immediate aftermath of Britain’s vote to leave the European Union, emotions have been running high. Since YouGov reported that 75% of 18- to 24-year-olds and 56% of 25- to 49-year-olds voted in favour of remain, versus 44% of 50- to 64-year-olds and 39% of those over 65, the extent of the generational gulf between Generation Y and the so-called baby boomers and their parents has been palpable. As has the anger many younger people includin...