The Brexit Thread

Chris_the_Brit

High Tory
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Mar 6, 2004
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Little Napoleon caught talking crap yet again... :ROFL:

Legal hazards but no default seen if Britain doesn't pay Brexit bill

Britain’s withholding of 39 billion pounds ($50 bln) it promised the EU as part of its original Brexit plan would not constitute a default in the eyes of credit ratings agencies, but lawyers said it could lead to international court battles.

Boris Johnson, the leading candidate to be Britain’s next prime minister, said at the weekend that he would retain the Brexit payment until the EU gave the UK better exit terms. The 39 billion pounds represents outstanding British liabilities to the EU and is to be paid over a number of years.

The comments drew an immediate rebuke from a source close to France’s President Emmanuel Macron, who warned it would be “equivalent” to a debt default. But the big rating agencies said it would not be one by their definitions.

“Our ratings speak to commercial debt obligations,” S&P’s primary analyst for the UK, Aarti Sakhuja, told Reuters. “The UK not paying the 39 billion pound bill would therefore not constitute a sovereign default under our methodology.”

A spokesman for Fitch said it would not be a default in its view either. Moody’s took a similar approach.

“Sovereign ratings speak solely to the risks faced by private investors and not the risks borne by official sector entities,” it said in 2015 when Greece was negotiating better repayment terms on its euro zone and IMF bailout loans.
 

Verde

Senior Member
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Aug 16, 2006
Messages
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What the rating agencies do is irrelevant.
It is like a default under international law. Britain has a simple choice here: borrow some euros and pay the debt in an efficient manner or refuse to pay and have your assets under European jurisdiction confiscated and liquidated at fire sale prices (inefficient).
What would a responsible PM do? Why would this threat scare Europe into renegotiating the deal?
 

OrbitalDawn

Ulysses Everett McGill
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UK economy shrinks after Brexit car factory shutdowns

The British economy shrank in April amid a dramatic decline in car production ahead of the original Brexit deadline, according to official figures.

According to the Office for National Statistics, gross domestic product (GDP) plunged by 0.4% in April from a month earlier as factories across the country launched a wave of planned shutdowns to avoid any disruption that could have been unleashed by a no-deal Brexit.

...

Manufacturing output across the country dropped by 3.9% on the month, driven by car production plunging by 24%.
 

NarrowBandFtw

Honorary Master
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Feb 1, 2008
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16,062
So how are they going to solve the Ireland problem? The troubles is noone has provided a viable hard brexit solution for that.

They can't 'leave' without solving that . Maybe you should read up a bit on that. They want a soft border, but you can't have a soft border if you leave.

Either you have a hard border between UK and NI, or a hard border between NI and Ireland
https://moneymaven.io/mishtalk/economics/eu-blinks-already-in-the-face-of-no-deal-brexit-the-eu-finds-a-unicorn-uNM-tj9hZ0efRAQkM-b9xg/

The EU is drawing up plans to use technology on the Irish border — despite rubbishing the idea when put forward by Brexiteers.

Eurocrats will deploy “IT systems” to keep trade flowing between Ireland and the EU via Britain if there’s a No Deal Brexit.

In a dossier to be presented to EU leaders next week, officials say a fix “can be implemented swiftly” and that they are in “regular contact” with authorities in Ireland, France and the Netherlands over the contingency plans.
 

Chris_the_Brit

High Tory
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26,102
Looks like the Brexit Party has made some Tories grow some spines:

Labour's Blind Coup Fails

Labour’s attempt to wrench control from the Government has failed by 11 votes. 298-309.

UPDATE: Andrew Bridgen tells Guido that he has asked the whips to remove the whip from Tories who voted against the Government with Labour’s motion. This would mean they would not be able to vote in tomorrow’s leadership ballot…
This was an attempt by scummy Labour to take control of the Standing Orders (effectively the business of the house) on the 25th of June in order to legislate against No Deal. They have done this previously... in March and April.

But look at the fake Conservatives who voted with the Marxists. The usual band of no-hopers, fakers and weirdos who should defect to the Lib Dems. Note that Grieve and Lee have lost confidence votes and are thus highly unlikely to be selected as Conservative candidates for the next election. Clarke will be retiring...

https://commonsvotes.digiminster.com/Divisions/Details/689?byMember=false

1560359375107.png

Edit: Shame, a grown man weeping like a little child because he didn't get a sweetie. Sad!

 

Hamish McPanji

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Let's see what the "dossier" actually says when it comes out.

As Brexit looms, it's clear the tech to solve the Irish border problem is either untested or imaginary

More than two million heavy goods vehicles cross the Irish border every year. That works out at around 6,000 a day. And technology isn't about to help

By ABIGAIL BEALL

01 Jun 2018


When Britain leaves the European Union in 2019, the border between the north and the south of Ireland will be the only land crossing between the two jurisdictions.

Politically, the Irish border has become one of the most difficult issues about Brexit to solve, says Katie Daughen, head of Brexit policy at the British Irish Chamber of Commerce, because the UK government has committed to putting no infrastructure on the island of Ireland, but wants to leave the single market and customs union. "There is no scenario where the UK can have both, which is why the issue of the border on the island of Ireland is now so contentious," she says
https://www.wired.co.uk/article/irish-border-brexit-tech


Technological solution to Irish border issue could be a decade away, says Home Office document

A Home Office presentation says a solution which would keep the border open without checkpoints is a distant prospect.

By Lewis Goodall, political correspondent

Wednesday 17 April 2019 18:17, UK

The possibility of a technological solution to the Brexit Northern Ireland border issue could be more than a decade away, according to a Home Office document seen by Sky News.

A presentation drawn up by the Home Secretary's Policy Unit and sent to HMRC and the Treasury implies that they think a technological solution - which would aim to keep the Irish border entirely open and without physical checkpoints - is a distant (and likely very expensive) prospect.

The authors state that the technology would likely not be ready to be deployed in the UK until 2030.

A technological solution to the Irish border quagmire has been much trumpeted by Brexiteers for months, if not years.
https://www.google.co.za/amp/s/news.sky.com/story/amp/technological-solution-to-irish-border-issue-could-be-a-decade-away-says-home-office-document-11696337
 

BBSA

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The joint acting chairman of the 1922 Committee, is now reading out the results.

All 313 Tory MPs voted, she says. There were no spoilt ballot papers.

Boris Johnson - 114

Jeremy Hunt - 43

Michael Gove - 37

Dominic Raab - 27

Sajid Javid - 23

Matt Hancock - 20

Rory Stewart - 19

Mark Harper - 10

Andrea Leadsom - 11
 

Chris_the_Brit

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Mar 6, 2004
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26,102
HURRICANE BORIS CANNOT BE STOPPED. :sneaky:

Let's just end the contest now...hehehehe.

MPs with fewer than 17 supporters were eliminated in R1. In R2, MPs need a minimum of 33 backers to go through to R3.

McVey, Leadsom and Harper have thus have been eliminated from the contest. Can't wait until Stewart is eliminated. Darling of the metropolitan London media because he's really a bit of leftie but no real support outside of the Westminster bubble.
 
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Pitbull

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Boris only needs 43 votes to secure a majority?

As the list winds down, he will accumulate more. This is Hilarious. I wish I could see the Anti-Brexiteers faces when he wins :D
 

ToxicBunny

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Borris only needs 43 votes to secure a majority?

As the list winds down, he will accumulate more. This is Hilarious. I wish I could see the Anti-Brexiteers faces when he wins :D
Fsck the anti-Brexiteers...

You should watch all the intelligent peoples faces...

The fact that a buffoon like Boris can even have a shot at PM is mind boggling.
 

Cray

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Fsck the anti-Brexiteers...

You should watch all the intelligent peoples faces...

The fact that a buffoon like Boris can even have a shot at PM is mind boggling.
The US - "look at the twat we put in charge of our country"

The UK - "hold my beer..."
 

Pitbull

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Fsck the anti-Brexiteers...

You should watch all the intelligent peoples faces...

The fact that a buffoon like Boris can even have a shot at PM is mind boggling.
Let me guess, we're going to have another thread like the Trump one going for a while? The left are not realizing how they have alienated and annoyed people that they would rather side with the right than the left :D It's hilarious as fark!
 

ToxicBunny

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Let me guess, we're going to have another thread like the Trump one going for a while? The left are not realizing how they have alienated and annoyed people that they would rather side with the right than the left :D It's hilarious as fark!
Doubtful really...

This has nothing to do with the left alienating and annoying people. This is the British Parliamentary system showing just how fscking broken it is.
 

Pitbull

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Doubtful really...

This has nothing to do with the left alienating and annoying people. This is the British Parliamentary system showing just how fscking broken it is.
Here we go again :D

Just like the electoral system in the US is broken right? When will you guys start seeing the problems for what they are? Mostly central people are being pushed right because of the left... But don't listen, keep on keeping on...
 
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