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Brexit 101

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  #741 (permalink)
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ellinas View Post
I agree with BREXIT (and GREXIT)

Well, I agree partly in principle, but not in full detail - as I think the EU is overall a super idea if Germany is removed from the Eurozone - with your post, a Google translation of which I post below (I won't write more as we will veer far off topic).

But you did not answer my question with your opinion of the present situation in the UK parliament a propos Brexit by 31 October, yes or no ?

The subject of Brexit is primarily national (for every EU member state), political, moral, and above all
a question of national freedom and independence and indirectly economic. It is nonsense to claim that
is mostly (or only) economical. Experience in recent years has shown that Germany has a goal
(and always had it after World War II) to conquer Europe financially, and through
economic sovereignty to pursue national slavery throughout Europe,
and so he managed not to succeed in World War II where he was defeated overwhelmingly.
Winston Churcill wisely said then that Germany should be bombed every 50 years. Why?
They (the Germans) know the reason. "The Brits have just recently realized the danger of
enslaved in Germany. They do not want, and rightly so, to be part of the European one
The German protectorate, first and foremost, wants to preserve their national sovereignty and freedom. Greece, too, has long been realized. And we (we Greeks) want our lost freedom back. It seems paradoxical (if not ridiculous) for some Englishmen to advocate their country's "financial" interests over their national freedom and independence. They remind me of some who can sell their wife for money!
But everyone must be aware that the freedom of a nation has a great price and requires sacrifices.
We Greeks have always shown throughout the world the value and supreme good of freedom.
That's why our National Anthem is dedicated to Freedom. Not only ours
but the whole world. Greece has taught the ideal of freedom throughout the world, the highest
ideals of man and a great civilization that has never been the same.
But some have stolen (and continue to steal) these masterpieces of Greek humanity
civilization, on which all subsequent Western civilization was based. For example a thief
it is England who refuses to return the masterpiece sculptures of the Acropolis Parthenon
of Athens (capital of Greece). Thief is also the ancient Germany he stole
and this multitude of antiquities of Greece. But Germany is not only a thief, but
world criminal (during World War II) who killed more than 1,000,000 Greeks
(and many millions of Europeans, including Poles, Russians, French, Belgians, English,
Yugoslavs etc) and refuses to compensate more than 1 trillion euros in Greece
for war damages, a home loan, and a series of unprecedented disasters in Greece.
and she has the audacity to shake her finger in Greece and all over Europe today.
Who ? they (the Germans) where their state should not have been on the map but had
distributed as a spoil among the victors of the Second World War (including
Greece, which was the first country to heroically resist and defeat ridiculously fascist Italy in 1940).
For this heroic resistance and victory of Greece Winston Churcill then said What heroes are fighting
as Greeks ". Conclusion: to BREXIT, to GREXIT, and to all EXIT. EXIT means new victory
against Germany, the German protectorate. Money is not everything in life. It is everything
to be FREE and to be less wealthy.

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  #742 (permalink)
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SMCJB View Post
After yesterday I would tend to agree with you.
How about by Feb 1st (which would allow a 3 month delay)?
On a similar note will Boris be Prime minister on Feb 1st?

Two more good questions - and as you know I like to take rather bold "Brexit punts" :

I say No & No !

Quelle horreur.... (for reasons too numerous to explain)

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  #743 (permalink)
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The pound rallied for a third day after Parliament tore up U.K. Prime Minister Boris Johnson’s Brexit strategy and denied his request for a snap election, tempering fears of further political turmoil.

Sterling headed for its biggest weekly gain since May after lawmakers voted to force Johnson to delay Brexit for three months. An election is still on the horizon with the prime minister losing his majority earlier this week, but it may not come until after an extension to the deadline has been set, reducing the risk of a chaotic exit from the European Union.



The U.K. currency has recovered the ground it lost since Johnson announced last week that he would suspend Parliament for over a month ahead of the Brexit deadline, setting off a rebellion which ultimately led to lawmakers seeking to block him from pursuing a no-deal. It is headed for a weekly gain of 1.5%.

ohnson plans to appeal directly to voters in a speech “to decide what they want” through an election, according to a statement from his office. Still, he needs two-thirds of Parliament to back him in order to call one, and the opposition Labour party wants the Brexit delay to pass into law first.

“My expectation is Brexit is delayed until Jan. 31 with an election after the initial deadline and before the end of January,” said Neil Jones, head of currency sales for financial institutions at Mizuho Bank Ltd. “A delay for both Brexit and a general election will continue to send the pound higher.”




Full article on Bloomberg

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Saw this on Twitter. Nobody wants an election except the Liberal Democrats!



Source Mujtaba Rahman @Mij_Europe via Joumanna Bercetche @CNBCJou

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  #745 (permalink)
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jtrade View Post
I think the EU is overall a super idea if Germany is removed from the Eurozone

I don't know if I am reading your post correctly but you seem to be suggesting that Germany is evil and everyone else suffers under their grand masterplan. Let me be clear that I am not for or against anyone. Things just are what they are. Here is how I see it:

The system is a natural heirarchy. Someone has to be at the top. At this time and place it happens to be Germany (talking about the Eurozone). Everyone else plays the victim. Shame. So sad.

Germany seem to run their economy very efficiently. There is a reason they are the most powerful nation in the Eurozone. One thing I like is that plumbers, electricians, engineers and other artisans, are respected on the same level as doctors and lawyers. This is how it should be.

The way this entitled group of whingeing crybabies carry on about their sovereignity is embarrassing. It was a sovereign decision to join the Eurozone in the first place but that was back when there was a spirit of cooperation and unity amongst leaders of nations. Clowns run the show now. Unfortunately, the system needs to break so that these twats go running for the hills and true leaders get a chance to step up and take responsibility. If brexit then grexit then frexit is what it takes then so be it.

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Grantx View Post
I don't know if I am reading your post correctly but you seem to be suggesting that Germany is evil and everyone else suffers under their grand masterplan.

I think he's suggesting even more than that!


Grantx View Post
The system is a natural heirarchy. Someone has to be at the top. At this time and place it happens to be Germany (talking about the Eurozone).

They are the largest country in Europe ~ 25% bigger than the UK or France, 37% than Italy (38%), 75% then Spain, more than 100% bigger than Poland and more than 400% bigger than 7th largest Romania.

On a tangent this brings up an interesting point that Germany alone represents 16% of the EU. The three largest represent >40%, the 4 largest >50%, 5 largest > 60% and the 6 largest > 70%! In contrast the smallest 14 countries represent just 10% of the EU and the 10 smallest just 5%. This becomes interesting because for votes to pass you need a majority of countries and population to pass. So you could technically have the 15 largest countries representing more than 90% of the population of the EU lose a vote if the 13 smallest stood together. (Sounds as bad as the US electoral college!)


Grantx View Post
Unfortunately, the system needs to break so that these twats go running for the hills and true leaders get a chance to step up and take responsibility. If brexit then grexit then frexit is what it takes then so be it.

Unfortunately you are probably correct.

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  #747 (permalink)
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Ahem - if I may clear up the confusion about my position on both Germany and the UK....

The long italicised paragraph in my post yesterday was a Google translation from the post of ellenas , which he wrote in Greek, & not my opinion, although I do agree with some of it.

I have indeed posted here in the past that the reason that Germany is the leading economic power within the EU is simply because they manufacture most things better and more efficiently - and have done so for decades. Vorsprung durch Technik versus Fix It Again Tony, sort of thing.

The reason I agree with George Soros that Germany should be removed from the Eurozone (NOT to be confused with the EU, as appears to have been done) is simply because the only way other Eurozone nations will be able to compete with Germany is via the mechanism of currency devaluation. This cannot happen if they have the same currency. Capisce ?

With regard to giving true leaders a chance to step up. Which true leaders would these be - the kind that have not stepped up !?

The EU experiment, including its Eurozone component, is not quite broken, but needs to change its prior direction (which was increasingly towards a fully federal Europe) & I think this is now recognised. It's taken a long time to get into this mess & will take longer to resolve (Brexit or no Brexit). Remember some of the things that David Cameron asked for and was then rebuffed - which triggered the Referendum vote - are now considered entirely reasonable by many EU nations (for example, the proposed requirement that immigrants from the EU work in their new host nation for at least 2 years before being able to receive unemployment benefits).

Edit : & one more thing .. I have also commented on this thread about the absurdity of Germany complaining about bailing out Greece, as the billions lent to Greeks, who were then unable to repay, was largely lent by German banks... so Germany was complaining about bailing out the bad loans of its own banks... or something like that (time for my supper, please forgive me for not reminding myself what I wrote).

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well said

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jtrade View Post
The reason I agree with George Soros that Germany should be removed from the Eurozone (NOT to be confused with the EU, as appears to have been done) is simply because the only way other Eurozone nations will be able to compete with Germany is via the mechanism of currency devaluation. This cannot happen if they have the same currency. Capisce ?

You chaps are much better informed than I could ever hope to be - what a great way to learn. Excuse my limited knowledge on the matter.

But this...what would motivate Germany into leaving the Eurozone? Why woud Germany invite competition like that when they can rather be part of it and bend the system to their will? And I dont think I like the idea of them leaving because with them in, its the devil we know. All that happens with them gone is that the next biggest in line steps up and manipulates the system to their advantage. You make it sound like with Germany out of the picture, the remaining clowns will miraculously all work toether in a joint effort to stimulate the Eurozone.

There is no opposing force at the moment so the system is getting hotter resulting in more and more disorder. This is entropy. In a closed system something wll have to pop. I hope it doesnt but it seems inevitable.

A bit abstract but I think in pictures so yeah, thats how how I see it.

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Grantx View Post
But this...what would motivate Germany into leaving the Eurozone?.

You hit the nail right on the head : Germany is the biggest beneficiary of the Euro by far & will never leave (as long as this situation persists)... bit of a Eurozone Catch 22 !

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