Brexit Is Almost Here... We are at the Finish Line!

Discussion in 'Wall St. News' started by Stockolio, Mar 28, 2019.


    The EU has moved into full crisis mode, with officials now setting the terms the UK will have to meet for Brussels to open talks on avoiding an economic meltdown in the weeks after a no-deal Brexit.

    In anticipation of a no-deal outcome on 12 April after MPs voted down eight Brexit options on Wednesday, and the likely rejection of the withdrawal agreement on Friday, EU ambassadors on Thursday morning opened discussions on the terms to be set for the bloc to return to the negotiating table.

    European press gets popcorn out for another chaotic day of Brexit
    Read more
    The EU’s chief negotiator, Michel Barnier, told the diplomats during the meeting that a no deal was now “the most plausible outcome”, and that there was an urgent need to war-game the bloc’s response to it. The EU is to step up its “full-on crisis” preparations, according to a diplomatic note.

    It was agreed among the member states that for there to be any talks after the UK has crashed out, the bloc’s 27 capitals will expect Downing Street to agree to signal by 18 April that it will pay the £39bn Brexit bill despite the failure of the Commons to ratify the withdrawal agreement.

    The terms of the Irish backstop, keeping Northern Ireland in large parts of single market legislation and the EU’s customs territory in order to protect the Good Friday agreement, would remain as the bloc’s solution for avoiding a hard border on the island of Ireland.
    Visaria likes this.
  2. schweiz


    The leave camp always repeats that they can always do like Switzerland and Norway, which are not in the EU but made trade deals with the EU.
    What the leave camp does not tell is that Switzerland and Norway PAY to acces the EU market. The contribution they pay to the EU is around 0.3% of their GDP. The UK will have to pay something similar. With a GDP of roughly 3700 billion that would cost the UK around 11 billion euro each year. So leaving the EU to not send 350million each week to the EU will be replaced by these 11 billion. The UK will have to pay but have no say in the EU.

    Maybe they can do after the Brexit a referendum to get back in the EU as it was cheaper.

    I am almost sure that on ET not a single British knew about these contributions.
    Last edited: Mar 28, 2019
    dasr and The Futures Farmer like this.
  3. Who cares about the truth, traders need to make decisions based off results... No deal even though not too bad in real economic terms, with current climate in cycle will trigger a vicious sell-off. I think no deal is in the lead at this point, Europe's deal will never pass cause it's a Brexit in name only, too many MP's are opposed to that it seems. Remainer's can pull a upset with a second referendum but unlikely, May said she woudln't even honour the amendment for that

    I will be updating it daily as this is the biggest juncture for the markets, others please do so as well
  4. schweiz


    One of the only things they voted on is that they will refuse a no deal. That was accepted with a majority. Even the most eminent leave politicians agreed that a no deal is excluded. They even want to vote pro May now.

    If the biggest sponsors of the leave camp change their opinion, why ordinary people cannot?
  5. JSOP


    After such an abusive treatment of UK in the Brexit negotiation treatment, a long time contributing member while in the EU, now UK is exiting from EU with nothing and EU still dares to extort more money from UK??!! Seriously??!!! LOL How about refunding to UK the $11 Billion that UK has contributed to EU and all of the trade deficits for all the years that UK was part of EU??!!

    May is such an incompetent negotiator! She was appointed for one and only one purpose: to negotiate the Brexit deal. She had this ONE task to do and she failed miserably! Oh well at least Britain is out!
    Carlw and Clubber Lang like this.
  6. JSOP


    That's still more preferable than staying EU. UK has stayed in EU before, paid and paid and paid and paid and did it ever had any say in the EU? If it had, why would it choose to leave? All these other countries who are staying in EU and are paying their "club fees", are they having any say??!! Otherwise why would Holland be considering to leave too? No, EU is a German-Franco empire; NOBODY in the EU has any say even over their own countries' affairs, paying or non-paying; it's EU's way or the highway. No if I am not going to have any say even over my country's laws and policies and have to be dictated by this "club", even when I am paying $11 billion every single year as the club fees, it's better that I leave. At least now UK will get its sovereignty, its border control back, it's own country back. And then later on, Britain will see. If it's worth it for Britain to pay to get access to this EU's one market, then it might consider to pay although judging from all the time when Britain was part of EU that Britain imported more from EU than EU from Britain so not sure if Britain would feel it's worth it especially if it can start trading with even bigger partners like US and China.

    All in all, it was a good move for UK to be out. I just hope the UK politicians are all smart enough to see that.
  7. Last edited: Mar 28, 2019
  8. Turveyd


    Personally I find it quite embarrassing to be british and hope the EU does the only honourable thing at this point, which is basically nuking the entire country back to the stone age as we deserve.

    Thanks EU!!
  9. Visaria


    So they will not talk unless £39 billion is paid?

    That's the Empire for you! Can't wait to leave.
  10. Visaria


    #10     Mar 28, 2019