Showing posts from June 24, 2016

European far right hails Brexit vote

Click here to view the original article.

[Every right-wing racist whack-job in Europe is out dancing in the streets. Marion LePen: "Now it's France's turn!" Front National leader Marine Le Pen says Britain has begun a movement that cannot be stopped. *RON*]
Angelique Chrisafis, The Guardian, 24 June 2016
Europe’s far-right parties have rejoiced at the UK’s vote to leave the European Union, hailing it as a victory for their own anti-immigration and anti-EU stances and vowing to push for similar referendums in countries such as France, the Netherlands and Denmark.

France’s Front National (FN) hailed Brexit as a clear boost for Marine Le Pen’s presidential bid next spring, as well as a move that gave momentum to the party’s anti-Europe and anti-immigration line.
“Victory for Freedom! As I have been asking for years, we must now have the same referendum in France and EU countries,” Le Pen wrote on Twitter. — Florian Philippot (@f_philippot)June 24, 2016 La liberté des peupl…

Donald Trump in Scotland: 'Brexit a great thing'

Click here to view the original article.
["Mr Trump's words carry some weight, given that shortly after Mr Cameron leaves Downing Street, he could be moving in to the Oval Office." *RON*]

BBC News, 24 June 2016

Donald Trump says the UK vote to leave the EU is "a good thing" as he lands in Scotland
US presidential hopeful Donald Trump has said it is a "great thing" that the people of the UK have "taken back their country" in voting to leave the EU.

His comments came as he arrived at Trump Turnberry for the reopening of the refurbished Open venue golf resort.

Mr Trump added his name to the Ayrshire hotel and golf course after buying the resort for an undisclosed fee in 2014.

Comedian Simon Brodkin later disrupted Mr Trump's news conference by waving golf balls with a swastika on them.

Brexit: Scotland and N Ireland reconsider ties to UK

Click here to view the original article.

[Nationalist leaders in both Scotland and Northern Ireland ponder independence referendums following Brexit. See also: Brexit: 'Surge' in searches on Irish passports, says Google. *RON*]

Al Jazeera and agencies, Al Jazeera, 24 June 2016

A second Scottish independence referendum is "highly likely" and should take place before Britain leaves the European Union, Scotland's First Minister Nicola Sturgeon said.

Scotland voted to stay in the EU by 62 to 38 percent in a referendum on Thursday, putting it at odds with the United Kingdom as a whole, which voted 52-48 in favour of leaving.

"It is a statement of the obvious that the option of a second independence referendum must be on the table and is on the table," Sturgeon told a news conference on Friday.

"As things stand, Scotland faces the prospect of being taken out of the EU against her will. I regard that as democratically unacceptable," she added.

"I thin…

Britain's financial sector reels after Brexit bombshell

Click here to view the original article.

["...the future of Britain's financial services industry is now hanging in the balance... work to establish fresh terms of trade with European and global partners [will be] 'complex and time consuming...' the Sterling fell to its lowest level since 1985... 'Leave's victory has delivered one of the biggest market shocks of all time ... Panic may not be too strong a word...', 'the reality is much, much starker, we'll have a crash and big layoffs... It's an act of national self-harm." Also: Wall St. slides after shock Brexit vote.*RON*]
Sinead CruiseAndrew MacAskill & Lawrence White, Reuters, 24 June 2016

Britain's 2.2 million financial industry workers face years of uncertainty and the risk of thousands of job cuts after the country voted to quit the European Union, leaving question marks over London's status as Europe's premier financial center.

The 'Vote Leave' campaign front…

EU’s Article 50 could become first Brexit stand-off

Click here to view the original article.

[On some of the mechanics of Brexit, and debate over the same. The so-called exit clause establishes the balance of power for divorce talks. *RON*]

Alex Barker, Financial Times, 24 June 2016
There is one formal route out of the EU: Article 50 of the Lisbon treaty. This so-called exit clause is highly contentious and may become the subject of the first stand-off between Brussels and Brexit Britain.

The article establishes the balance of power for divorce talks. It lays down the voting rules for deciding how to part ways, and sets a two-year deadline on talks that can only be extended by a unanimous decision of the other 27 EU countries.

So while starting the formal break-up process is in Britain’s hands, a decision on how and when to end it would not be. For this reason, before formal divorce talks start, Britain would want assurances about future trade arrangements or transition to avoid a Brexit hard-landing.

This is partly why David Cameron, the d…

BREXIT British PM David Cameron resigns after Brexit vote; financial markets in turmoil

Click here to view the original article.
[A friend of mine put it this way, "The turkeys have voted in favour of Christmas." I do believe the UK has cut off its nose to spite its face. In order to keep putting bread on the table, Britain will now have to reforge the same agreements with the same partners they've just given the finger to. *RON*]

Paul Wadie, The Globe and Mail, 24 June 2016

The latest developments: how Brexit happened and what’s next Global markets shaken
Cameron to step down by October
After Brexit: What happens next?
In photos: Britain votes to leave EU, Cameron resigns

The stunning decision by British voters to pull out of the European Union by a margin of 52 per cent to 48 per cent, has shaken global financial markets and caused a political earthquake in Britain with the resignation of Prime Minister David Cameron.

London’s FTSE 100 index was down 3.8 percent in early afternoon trading while Frankfurt and Paris fell 6 to 8 per cent. Shares in some British ba…