Archive for the ‘UK economy’ Category
Posted by seumasach on February 21, 2016
Cailean Bochanan
21st February, 2016
It is unusual for the British establishment to risk a consultation with the people unless major changes are underway- changes which are sufficient to provoke divisions in the establishment itself. It goes without saying that the negotiations with the EU are not essentially about child benefit for Polish families living in the UK. They are about “sovereignty” although in a very limited sense: the “sovereignty” of the City of London. The deal struck triumphantly by Cameron is revelatory. It shows that conflict within the establishment concerns the least bad option for the City: whether to face exclusion from the EU market and displacement by Paris or Frankfurt as Europe’s leading financial centre or to remain inside Europe and to take up arms against a sea of Eurozone banking regulations and by opposing end them. That is the question!
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Posted in Battle for Europe, UK economy | Tagged: bankrupt Britain, Britain into Europe-Europe out of NATO, Cameron's EU deal, Chinese soft power, european bank "bail-in", european banking union | 2 Comments »
Posted by seumasach on February 20, 2016
Cameron has not achieved a deal that will guarantee immunity for the City of London from EU regulation. In general, we can suppose that this is the least bad option for the City which fears its demise even more outside of the EU altogether. That is why Britain won’t be leaving the EU- the scare stories have already begun, falling house prices, run on the pound etc. and they will only gain in intensity over the coming weeks.
Reuters
19th February, 2016
European Union leaders reached a deal late on Friday that offers leeway to Britain in applying banking and markets’ regulations, but maintains that there will be a single set of rules for the financial sector within the EU.
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Posted in Battle for Europe, UK economy | Tagged: Cameron's EU deal | Leave a Comment »
Posted by seumasach on February 15, 2016
Pound Seen Tumbling Whether U.K. Stays in EU or Seeks `Brexit’
Bloomberg
9th February, 2016
The biggest pound bear expects the currency to lose 17 percent this year. And that’s if Britain remains part of the European Union.
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Posted in UK economy | Leave a Comment »
Posted by seumasach on February 15, 2016
“There is still a heck of a gap, as you rightly point out, between 13% and the Vickers commission’s 18%, but the Vickers commission was operating on the assumption that there would not be bail-in-able debt, if I can put it that way, which we now have or shall shortly have.”
This is very interesting – he seems to be suggesting that this time round the creditors and, presumably, the shareholders will take the hit. When the banks go under again, as they inevitably must, they will be “bailed-in” rather than bailed -out following, perhaps, the template established by Michel Barnier at the European Commision. This implies the end of the City of London as we know. We shall see.
Guardian
14th February, 2016
Britain’s banks are vulnerable to a global financial shock despite efforts to shore up their finances, according to the official who led the inquiry into the safety of UK banks following the 2008 crash.
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Posted in UK economy, Uncategorized | Tagged: Bail in the banks!, no more bailouts-put banks into receivership, no more bombing!-no more bailouts! | Leave a Comment »
Posted by seumasach on January 12, 2016
The exposure of the chronic weakness of the UK economy is long overdue: a bombed-out high street, empty pubs, falling share prices, the collapse of the property bubble and local government insolvency are all on the horizon. But the negative current account is the icing on the cake. Presumably, this reflects lack of interest in UK government bonds and the continued need to monetise them i.e print money to buy them: hence the inevitability of a sterling crisis with an accompanying inflationary surge or rising interest rates which will trigger the collapse of the financial sector. We are indeed cursed by interesting times!
Telegraph
12th January, 2016
Sterling plunged to a five-and-a-half year low against the US dollar on Tuesday, as the UK’s manufacturing sector shrunk unexpectedly.
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Posted in UK economy, Uncategorized | Tagged: bankrupt Britain | Leave a Comment »
Posted by seumasach on January 11, 2016
Telegraph
10th January, 2016
Asset prices around the world are collapsing as the global economy slows and UK housing will not escape
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Posted in UK economy | Tagged: bankrupt Britain | Leave a Comment »
Posted by seumasach on December 6, 2015
Herald
6th December, 2015
MBDA, the manufacturer of the British Brimstone missile, is set to be the main economic beneficiary of last week’s parliamentary decision authorising UK airstrikes in Syria.
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Posted in UK economy | Tagged: demilitarise Britain | Leave a Comment »
Posted by seumasach on October 22, 2015
It will be interesting to learn more about this new financial centre.
China Builder Revives $2.6 Billion London Project After Xi Visit
Bloomberg
22nd October, 2015
Chinese developer ABP (China) Holdings Group Ltd. has brought in a unit of state-backed Citic Group as an investor in a project to transform London’s Royal Albert Dock into a financial center after the estimated cost surged and work was delayed.
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Posted in Multipolar world, UK economy | Tagged: China-UK comprehensive strategic partnership | Leave a Comment »
Posted by seumasach on October 21, 2015
Britain can’t ignore this reality
Guardian
19th October, 2015
Who would have guessed just three years ago that the David Camerongovernment would be the author of the boldest change in British foreign policy since the second world war? That is exactly what is now unfolding.
Posted in Multipolar world, UK economy | Tagged: China-UK comprehensive strategic partnership, Chinese soft power, special relationship with China | Leave a Comment »
Posted by seumasach on May 3, 2015
Liam Halligan
Telegraph
2nd May, 2015
Aren’t financial assets “simply pumped up by printed money?” Don’t share prices “need to adjust downward by something like 50pc?” Is it “really the case that if Greece leaves monetary union, other countries won’t follow?” It must “surely be wrong to try solving a debt problem by taking on even more debt?”
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Posted in Financial crisis, UK economy | Tagged: bankrupt Britain, End of empire, no more bailouts | Leave a Comment »
Posted by seumasach on April 14, 2015
“The investment is a strategically important beginning for our exploration in the European market,” Li Huaizhen, Minsheng’s CEO, said in Shanghai
Telegraph
15th February, 2015
A Chinese investment firm has announced it is to invest £1bn in a homegrown development project to create a third financial district in east London.
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Posted in UK economy | Tagged: Chinese soft power, End of empire, The Great British Sell-Off | Leave a Comment »
In These New Times 