In the latest Brexit latest news, Theresa May Must Quit in Three Months, some cabinet ministers warn.
Theresa May must stand down after the local elections in May to allow a new leader to deliver the next stage of Brexit negotiations, Cabinet ministers have warned. Ministers said that the Prime Minister will have to leave after the first phase of Brexit negotiations are concluded or she will face defeat in a vote of no confidence at the end of the year.
Meanwhile, John McDonnell has warned that the Labour Party is “moving towards” backing a second referendum, as he indicated that it could become the price their MPs would demand from Mrs May to support her Brexit deal. The Shadow Chancellor told the Evening Standard that “we’ve kept [a second referendum] on the table and we’re moving towards that”, suggesting that an amendment by MPs Peter Kyle and Phil Wilson calling for the party to back a deal provided there was a public vote on it “could be a solution”. The amendment has reportedly been endorsed by shadow Brexit secretary Sir Keir Starmer at an internal party meeting this week.
This comes as a group of 100 moderate Tory MPs warned the Prime Minister that they will try to force her to delay Brexit next week if she cannot reach a deal, while a Tory defector told the Telegraph that the prospect of Parliament supporting bids to delay Brexit were a “done deal“.
“No Deal In the Desert”
The Telegraph reports Sterling Hovers Around $1.30 after Reports of ‘No Deal in the Desert’
It was thought that Theresa May could hold discussions with Donald Tusk on the sidelines of meeting of European and Arab leaders in Sharm el-Sheikh on Sunday. A Brussels official told Reuters: “there will be no deal in the desert” this weekend.
No Deal Accident
Meanwhile the fearmongering continues as EU negotiator Michel Barnier proclaims There is High Chance of ‘Accidental’ No-Deal Brexit.
As the British prime minister heads to Egypt for an EU-Arab summit in Sharm el-Sheikh, the bloc’s chief negotiator publicly said he believed there remained “a chance” of ratifying the deal. But he told a French radio channel: “Today I am more worried than before” over the talks, adding that the UK needed to make decisions fast.
The EU official also told ambassadors privately, after the negotiations with the UK’s Brexit secretary, Stephen Barclay, and a visit by May to Brussels, that the chances of an “accidental” no-deal Brexit were high.
The Commons is expected to vote on an amendment next week on whether to force May to request an extension by mid-March if a deal is not agreed by MPs. But with the political situation in London volatile, the EU capitals have been warned by Barnier to be ready for the UK to crash out.
“There will be no deal in the desert,” a senior EU official said. Noting that the EU already had a full agenda for the summit and that at least four EU leaders were not expected to take part: the official said: “Even if we wanted to we couldn’t, but thirdly we don’t want to.”
Repeated “No Clarity” Lie
The EU keeps repeating there was no clarity on what the UK wants.
Actually it is very clear what the UK wants.
- A fair deal
- A solution to the backstop
We are in this mess because May agreed to a horrid deal and the UK won’t let her out of it.
Take-It-Or-Leave-It
If May would only turn this around, and vote for the Malthouse Compromise, then present that to the EU as her own take-it-or-leave-it offer, one of two things would happen, both good.
The EU would either agree, or it wouldn’t. Both are excellent opportunities and the second is actually better for the UK.
The Malthouse compromise would keep the UK in a customs unions for two more years, allowing both sides to figure out a compromise.
The even better alternative, is the EU says no. In that case, the EU gets no Brexit breakup payments at all.
I strongly suggest that if only May would present this offer, the EU would be forced to take it.
Either way, the UK wins.
Mike “Mish” Shedlock
“I predict that May will resign before ‘no deal’ happens.”
That is a very reasonable bet
It fits in with game theory.
I predict that May will resign before ‘no deal’ happens.
They will vote a delay- guaranteed- exit isn’t happening at the end of March, and I still predict a 2nd referendum will be held and Remain will do whatever is necessary to win that second vote. I think all of this- every single bit of it is a charade.
My relatives are already talking about “yellow vest” protests throughout England. As they say, they’d rather starve as free men than starve as German bank slaves. They said they saw what Germany and Goldman Sachs/IMF did to Greece.
Reading Varoufakis’ “Adults In the Room” was eye opening. The troika screwed Greece hard, made an example of them. Not only that, there was no shortage of Greek bankers and politicians who were more than willing to sell out their own people in the midst of their debt crisis. The bankers in particular saw their German/IMF/ECB overlords as their true peers, not regular Greek people.
The “Troika” has no army. The Greeks, Varoufakis included, voluntarily bent over, instead of growing up and acting like free adults. Specifically by listening to the banksters and other expendable rabble you mentioned. Varoufakis’ social and professional circle all of them, no doubt……
No different from how their equally spineless, clueless and indoctrinated into pliancy American fellow indentureds did, as soon as Hank Paulson pulled the “tanks in the streets” hobgoblin out of his hat.
The Greeks did it to themselves. The only “solution” for the Greeks is for them to get their economic house in order. If they can balance their budget, they have many options. If they want to keep running a huge deficit, they have no choices. It is not impossible for them to balance their budget, but they have to address expenditures to do it.
That’s why reading the Varoufakis book was enlightening. Syriza walked into an immediate debt crisis inherited from their predecessors. However, as he makes clear in the book, Syriza had plenty of sellouts in their midst anyway, including Tsipras.
The Varoufakis conversations with Juncker and others were interesting too, where they admitted privately that Greece was in a no-win position. The EU economic meetings were filled with eastern Euro bootlickers who would do anything to please the big dogs, and even other countries in similar positions, like Spain, were hostile because Syriza had a sister party there causing trouble for their politicians. The whole thing made the EU look like the dysfunctional mess it is.
The Greeks do not have many options. The debt has already been incurred, and if they attempt to default punishment will be severe, lest others follow that example. It’s a joke that small, weak countries are castigated for debt while seemingly everyone runs massive deficits these days. It’s the same game when the IMF tries to “help” countries by saddling them with debt, which gives outsiders control over their policy making.
Any country that runs up a large deficit must ultimately pay the price, and of course, that includes the US. No country is immune. The US has the advantage that most of it’s debt is denominated in USD, so technically they can print their way out, but that only works once, since after that, no one would take debt denominated in USD.
The US could balance it’s budget, too, but they won’t. It is inevitable that they will follow the road to destruction.
“Any country that runs up a large deficit must ultimately pay the price”
The thing is, “countries” don’t run up deficits. Nor do “countries” pay prices. Specific individuals, do. Those who do make the decision to run up deficits, along with the creditors who facilitated them doing so, often attempt to hide behind the “country” sleight of hand. In order to force other individuals, never “the country,” to pay for it. None of which makes any of what they are doing, any more than a cheap sleight of hand.
Only rational individuals are economic actors. Only rational individuals produce the real value necessary to pay back anything.. And only rational individuals consume goods and services that are produced. Not “countries.”
Coming up with ways, and excuses, for how to sucker and/or force other individuals to produce value you can then consume, is as old as life itself. They’re collectively, and exhaustively, covered by the terms “fraud,” “theft” and “robbery.”
This is where people growing up, enters the discussion: If your voluntarily provided, individual, signature is not on a loan document, any debt the document refers to, is simply not yours. Nor is any obligation to pay it.
Its a great book on the inner workings of the financial establishment, noted Macron’s involvement! Highly recommended reading as Varoufakis writing is excellent and clear and he does a good job of separating his personal political beliefs versus democratic operation of governmental groups.
There’s evil abroad.
Sticking with my view that a second referendum is very unlikely. No one really wants it, especially the public. They are sick of this mess and want it over. There is even a VERY difficult question as to how to word it. How many choices are there?
UK could easily become ungovernable if there is a second referendum. Very law abiding people questioning the very basis of Governmental authority.
“…questioning the very basis of Governmental authority.”
If only….