That's why I felt Andrea Leadsom was better value at 12/1. Gove is finished in my opinion due to his back stabbing. If Leadsom can get into the final two candidates in the Conservative race, then it comes down to the party members as to which of these two is selected. And there is a good chance the members choose a Brexiteer when compared to the steady, but somewhat drab Theresa May. Out of those who campaigned for Leave, Leadsom has the best handle on the rationale for leaving, having started the Fresh Start Project in 2011. http://www.eufreshstart.co.uk/ https://en.wikipedia.org/wiki/Fresh_Start_Project
Gove isn't a contender. This is all political gamesmanship. I really don't believe he even wants the job. I think he realised that Boris was incapable of doing the job and decided to take him out. A wise decision in my eyes as Boris would have been a disaster on the world stage. My issues with Leadsom are personal and they probably cloud my judgement somewhat regarding her chances. For me she is far too 'in bed' with our industry to be objective when making economic decisions. I also find some of her religious views fairly distasteful. I read a funny Tweet yesterday saying that since our politicians are doing such a bloody dreadful job at the moment we should invite Iceland to make a takeover bid for the UK. They have experience in successfully running an island nation off the north west coast of Europe which is outside the EU. They can also put together a football team which isn't a national embarassment.
So...A week later: http://stockcharts.com/h-sc/ui?s=spy http://stockcharts.com/h-sc/ui?s=tlt http://stockcharts.com/h-sc/ui?s=bnd http://stockcharts.com/h-sc/ui?s=xlu http://stockcharts.com/h-sc/ui?s=ed http://stockcharts.com/h-sc/ui?s=EWU AND the British Pound ETF http://stockcharts.com/h-sc/ui?s=fxb The enduring loser (so far) is the British Pound. My portfolio is net up.
Don't forget about my country, Wales! Still in Euro 2016 and playing Belgium today. Interesting comments about Gove. I take your point about Leadsom, though I don't know her personally, but given her background in financial services I think she will be in the best position to negotiate around this key area. She almost certainly knows more about financial derivatives and financial service passporting than most of the EU stiffs. I think of her as the "smiling assassin", but I'm probably a little biased because she began her career as a trader. May might win more friends in Brussels and keep a steady ship, but I suspect Leadsom will be better in negotiations, in part because has spent years thinking about the important issues. Either way, it seems that she may be given a key role if May does indeed win the contest. Perhaps a good cop - bad cap pairing, with Leadsom doing the dirty work! Edit - Next Conservative Leader odds: May 1/3, Leadsom 4/1, Gove 7/1
In other European news: *AUSTRIAN COURT ORDERS REPEAT OF PRESIDENTIAL RUNOFF VOTE So we might, after all, end up with a far-right president in Austria.
I still can't believe how wrong the odds were coming into Brexit. Some of the leave punters surely cleaned up. Leadsom is a bit more rounded, but May is more likely to tamp down on the free movement business. No matter the winner, I'd like to see both wind up at the table.
Is it fair to say that the last "thief" has left the boat to avert responsibility and that the UK sorely lacks any talent in politics to even start any Brexit talks? https://next.ft.com/content/7ccfd858-41e0-11e6-b22f-79eb4891c97d
Maybe, but then why would anyone care, after all the annual Vienna opera ball seems to be the only remarkable event that any tabloid or the media in general would ever report that remotely tangents Austria. The majority in Central Europe still want one federal government. Maybe Brexit was a God-given in that it taught the valuable lesson to never ever again let extremists get away with lies and falsification of facts. Europe now has a tremendous chance to revamp its way it is governed and how its body is elected. It also can now demonstrate that it can get its act together and keep Turkey out of Europe while at the same time stem the inflow of immigrants. Europe has to follow Australia's lead in simply rejecting refugee boats even if that means each last one of the refugees drowns. That is the only message people will understand and which will keep the desperate from paying the mafia to traffic them to Europe. Lot's of work and it can either work out to be a success or if European bureaucrats still do not see the urgency to adjust then I probably tend to agree that over long the European experiment will crumble.
I guess if those wage re-negotiations fail and Americans also leave the City aside most of the European talent that makes up the City in sales and trading as well as M&A, the only "financial professionals" left in the UK will be some punters at the betting firms and a few who work in clearing who reach for the hankies because their jobs will be gone soon. Brixit will pretty much undo financial services in London without any outside intervention, I am afraid. https://next.ft.com/content/9f255288-41e1-11e6-b22f-79eb4891c97d