Tag Archives: Brexit

Will 2018 change the Brexit game?

As 2017 draws to a close, people in Britain are beginning to realise how seriously they were deceived by the Leave side promoters before the June 2016 EU referendum.

The catalyst of this realisation is the news that Britain will return to its “iconic” blue passport, a symbol of the country’s “sovereignty”, as Prime Minister Theresa May herself called it.

“The UK passport is an expression of our independence and sovereignty — symbolising our citizenship of a proud, great nation. That’s why we have announced that the iconic #bluepassport will return after we leave the European Union in 2019,” she said on Twitter.

This reply on Twitter is the essence of why I believe this to be a crucial moment when it comes to people realising how deceitful the Leave campaign was:

Many people took to Twitter to point out that their old passports were black, not blue, and rather dull-looking. Others wondered if the prize was worth the price, both figuratively and literally.

Here’s one example:

And another:

Some warned the British citizens that once out of the EU, it will not be the colour of the passport that will matter, but the doors it will open.

The blue passport saga is a symbol of everything that was wrong with the Brexit vote: The public debate was hijacked by a group of people who promoted narrow views with dishonest means.

People were lied to about what the EU’s relationship with Britain was, and were promised far more than what can realistically be achieved by leaving the EU.

Before the EU referendum in 2016, the Leave campaign said that nobody was threatening Britain’s place in the Single Market. They gave assurances that not only will Britain keep its Single Market access while getting rid of freedom of movement for EU citizens, but it will also be striking out new trade deals in no time.

The reality turns out to be quite different. So far, the EU has not even hinted at the possibility that Britain will keep its place in the Single Market, while other countries are still waiting to see what kind of relationship the UK will have with the EU before seriously starting trade talks.

The immigration genie is not back in the bottle; it has, in fact, been liberated by the Brexit vote, as the fast-growing emerging market countries with whom Britain tries to strike trade deals rightfully point out that relaxing immigration controls should be part of the negotiations.

The case of the blue passport is symbolic for another reason, as well. As with many things to do with Brexit, it has come to light that in fact the EU never forbade any country to choose whatever colour it wished for its passport.

As Guy Verhofstadt, the European Parliament’s chief Brexit negotiator, pointed out, the burgundy- coloured passports are the result of a recommendation of the EU, but they are not compulsory. The UK could have chosen to ignore that recommendation, and it did not.

Finally, an ironic tweet seems to embed the essence of what the Brexit process will do to Britain, if it continues.

https://twitter.com/HansNiesund/status/945454868382273537?ref_src=twsrc%5Etfw

It looks increasingly like a second referendum on the final deal, with the option of voting to remain in the EU, should be put high on the agenda for 2018.

Brexit is like Bitcoin: it is bound to disappoint

Brexit and Bitcoin both start with the letter “b”. Does the similarity stop here? As it turns out, no. Both these words refer to concepts that are quite alike. Of the two, Bitcoin is probably the least toxic.

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The ‘Brexit divorce bill’ will be the easiest to agree upon

As we are about to hear again that there has been insufficient progress in the talks between Britain and the European Union, it becomes clearer that there never can be enough progress. The Brexit that Britain seeks simply does not exist.

Tolstoy’s famous quote about unhappy families offers a very good explanation as to why: “All happy families are alike; each unhappy family is unhappy in its own way.”

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UK pensions are a time bomb; Brexit might help detonate it early

As if we didn’t know already, last week we got another reminder of the economic disaster that Brexit is shaping up to be: Retail sales weakened in the UK, as price rises eat into consumers’ purchasing power.

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Time to stop painting the Europeans as the enemy

Britain’s relationship with the European Union is becoming so fraught that even one of the most moderate members of government finds it hard nowadays to use the right words when talking about it.

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Theresa May’s Florence Brexit speech is a disappointment

The excitement that had been building up before the Florence speech of UK Prime Minister Theresa May is quickly turning into disappointment. Many had expected the Prime Minister to find a way to unblock the stalled negotiations over Brexit, but the speech, as delivered, was far from achieving that.

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Brexit vote dramatically lowers Britain’s attractiveness

I know I have said it before, but at the time it was just a hunch: the price to pay for an “un-cool Britannia” after Brexit will be steep. Evidence for this is beginning to show. A survey released recently shows how fast Britain is losing attractiveness in the eyes of the world.

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UK household wealth growth about to make a U-turn

The Bank of England has reason to pat itself on the back. During the financial crisis of 2007-2009, things could have taken a very ugly turn if it hadn’t cut interest rates to record lows and hadn’t started printing money.

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Brexit is no ‘Dunkirk’ movie; it’s real life

A recent article in Politico says that some European Union policymakers believe that Brexit negotiations are so chaotic on the British side because of a cunning plot to swamp the EU with well-prepared, profoundly thought-out position papers at the last minute.

“Having seen the movie ‘Dunkirk’ over the weekend, history might suggest that the British could turn disaster and disorganization around,” it quotes an European official as saying.

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As Brexit bites, there is little the Bank of England can do

The Bank of England will publish its inflation report next Thursday, and this time it will get even more attention than usual.

Brexit is being felt in prices more and more now, with the cost of grocery bills jumping and prices for essentials going up. The phenomenon of “shrinkflation” is in full swing as well; many products are mysteriously losing weight, but maintain their price.

No matter how much it would like to help (or to meet its inflation target), the Bank of England cannot do anything to prevent prices from rising. In fact, to be more accurate, it could, but it will not. The central bank could raise interest rates, stopping the pound’s depreciation — but if it does this, the housing market would crash.

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