In These New Times

A new paradigm for a post-imperial world

Sterling falls as surveys point to big Brexit hit

Posted by seumasach on July 23, 2016

Cutting interest rates will only further weaken the pound, fueling inflation and further undermining consumer spending. And so, we enter a vicious circle and a downward spiral. Brexit hasn’t caused this underlying economic weakness: it has merely prevented us from using our geopolitical clout to counter it as we could have done, for example, through the Comprehensive Strategic Partnership with China which was based on our role as gateway to Europe and, consequently, our membership of the EU.

Irish Examiner

23rd July, 2016

Sterling fell as reports suggesting that the UK’s manufacturing and services industries contracted in July heightened speculation that the Bank of England will cut interest rates as soon as next month.

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UK’s financial services sector will retain its passporting rights despite Brexit, Boris Johnson says

Posted by seumasach on July 23, 2016

Johnson’s “everything will remain the same despite Brexit” argument reflects either that he is completely delusional or that he is strongly hinting that Brexit is not going to happen at all. Regarding passporting rights, that will be in the hands of the Europeans and it is no secret that Paris and Frankfurt are vying to succeed London as Europe’s financial sector. His assurances lack all credibility and reflect the bizarre post-Brexit limbo into which we have been cast. Meanwhile, as the incoming capital flows on which we are dependent dry up, the perspectives for the UK economy and living standards are dire in the extreme.

IBTimes

23rd July, 2016

London will remain a global financial centre, according to Boris Johnson, the UK’s newly appointed foreign secretary. Speaking at the United Nations in New York, Johnson dismissed fears over the country’s financial services sectors losing its passporting rights amid the Brexit vote.

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Hollande calls for European army amid terror alerts

Posted by seumasach on July 22, 2016

Sputnik News

20th July, 2016

French President Francois Hollande has begun touring European cities in the run-up to the next EU summit in September as part of an attempt to garner support for an European Union army, now that the UK – which opposed it – has signaled its intention to leave.

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Turkey no longer an obstacle to the US-Russian cooperation in Syria

Posted by seumasach on July 22, 2016

Sputnik News

22nd July, 2016

There are clear signs that Turkish President Recep Tayyip Erdogan is leaving the anti-Russian coalition and will no longer be an obstacle to the US-Russian cooperation in Syria championed by Secretary of State John Kerry and his counterparts, Professor Stephen F. Cohen notes.

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Assessing China’s post-Brexit globalisation strategy

Posted by seumasach on July 21, 2016

“In other words, despite its advantages in financial services and language, the UK’s ability to attract foreign investment is likely to be substituted by other EU countries. Once the UK loses its access to other EU markets after leaving the EU, it will also give away its advantage as a Chinese investment hub in Europe. In the same vein, as London loses part of its share of financial operations related to the EU, other cities such as Paris and Frankfurt should increase their capabilities as financial centres, with each probably specialising in different issues.”

This study confirms the obvious: that the UK will sacrifice a beneficial relationship with China by withdrawing from the EU. The irony is that, contrary to the claims of the Leave Campaign, we have lost strategic autonomy by voting “leave” and now appear to be acting in accordance with US interests. On the other hand, our engagement with China may not have been in good faith from the start, being only the other side of the coin of our anti-Russian foreign policy and our attempt to obstruct the emergence of a Washington-Moscow axis. In this case, Brexit could be seen as a salutary corrective although one which exposes the pre-existing fragility of the British economy.

Breugel

19th July, 2016

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FBI arrests senior HSBC banker accused of rigging multibillion-dollar deal

Posted by seumasach on July 20, 2016

Guardian

20th July, 2016

A senior HSBC banker has been arrested by the FBI as he attempted to board a transatlantic flight and charged him with fraudulently rigging a multibillion-dollar currency exchange deal.

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There’s more to Turkey’s failed coup than meets the eye

Posted by seumasach on July 19, 2016

M.K.Bhadrakumar

Indian Punchline

18th July, 2016

Russian President Vladimir Putin did on Sunday what no major western leader from the NATO member countries cared to do when he telephoned his Turkish counterpart Recep Erdogan to convey his sympathy, goodwill and best wishes for the latter’s success in restoring constitutional order and stability as soon as possible after the attempted coup Friday night. (Kremlin website)

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Trump Doctrine: Work with Russia, draw back NATO, stop arming Syrian rebels

Posted by seumasach on July 18, 2016

Sputnik News

16th July, 2016

“We will have a very good relationship with Russia” promises the mercurial Republican nominee for president who once referred to Russian President Vladimir Putin as his 60 Minutes “stablemate.”

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Winners, losers in Turkey’s coup bid

Posted by seumasach on July 18, 2016

M.K.Bhadrakumar

Asia Times

16th July, 2016

The bloody coup attempt in Turkey by a section of the military has failed and the night of the long knives is about to begin. The geopolitics of the coup makes it inevitable that reverberations will be felt far and wide beyond Turkey.

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Erdogan has nine lives, survives Gulen’s coup

Posted by seumasach on July 17, 2016

M.K.Bhadrakumar

Indian Punchline

16th July, 2016

Turkish authorities have just stopped short of alleging that the abortive military coup last night has geopolitical significance. The hints are coming in driblets.

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Boris Johnson, David Davis and Liam Fox as the Three Brexiteers? Dream on

Posted by seumasach on July 16, 2016

Marina Hyde

Guardian

16th July, 2016

Another week in Brexit, another seven days in which the tickers along the bottom of the news channel screens may as well have been changed to a continuous loop of the inquiry: WHAT JUST HAPPENED?????

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