Umm, really?

EU policymakers and officials are returning to their desks with a spring in their step. This summer has seen the ‘Brexit effect’ quietly gathering momentum, so much so that it’s shaping into one of the most spectacular own-goals of European history, on a par with Germany’s Third Reich or the Russian Revolution.

Some Brussels think tank or other.

9 thoughts on “Umm, really?”

  1. By all means dismiss the views of a self-interested think tank. But as a free marketeer who places great faith in the wisdom of capitalist crowds, wouldn’t you agree that the fall in Sterling reflects rather poorly on the progress of Brexit thus far?

  2. Yeah and Hitler’s Ghost is returning to his desk in the Phantom Reichstag with a spring in his step. And telling the Phantom Eva Braun “Next year in Moscow”.

    Trouble is that Eva has heard all before–so many times.

  3. @AndrewM
    Markets, any markets, don’t like uncertainty. GBP hasn’t looked like a safe haven for money since the referendum result. So, people who want a safe haven for money haven’t been using it as a safe haven. The operative word there being “safe”. They’ve been buying other currencies. In part, the Euro. In my & others’ opinions, the Euro is now looking way over-valued.

    Unlike many people who merely comment, I prefer to back my opinions with money & have been spread betting on the GBP/€ rate. I saw mid last week as a floor & went bull of GDP. As of this morning, that’s about the price of a new car banked. provided it’s one of the less expensive Mercs. And I reckon on selectively trading right up to 1.50€/£ over the next couple/three years. And trading it down, from the overshoot. Roll on €urocollapse.
    I love markets. And uncertainty.

  4. To add to the above:
    Following the referendum result, the pound went into free-fall. BUT NOTHING HAD ACTUALLY CHANGED! The sun was still shining, people were going to their jobs, Tescos were still selling balsamic vinegar in ridiculously small expensive bottles…
    Markets process information and, just at the moment, they’ve a lot of information to process. Eventually they’ll decide whether Brexit was a good thing or a bad thing. When the information’s in. At the moment, they don’t know.

  5. The £ was overvalued when we were attached to the Euro (by proxy), we were holding its value down.

    We are no longer attached and so currencies are revalued to reflect the new reality.

    The Germans hold the Euro up and the rest of the EZ hold it down, this is good for Germany and not so good for Greece/Portugal etc. (this disparity is no longer damped somewhat by the UK).

    ‘Rather than allowing Brexit to dominate its agenda, the EU should press ahead at full speed with creating a genuine foreign and security policy, at long last completing the single market and tackling the eurozone reforms needed to breathe life back into the European economy.’

    Surely the EU should be thankful for Brexit concentrating their minds on their agenda, presumably prior to June 2016 they were just fucking about and having a laugh at EU taxpayers expense. That it takes a member to decide to quit before they will even entertain getting their lazy arses into gear demonstrates that the institution is not fit for purpose and we are better off out.

  6. @bloke in spain, September 9, 2017 at 11:45 am

    To add to the above:
    Following the referendum result, the pound went into free-fall. BUT NOTHING HAD ACTUALLY CHANGED! The sun was still shining, people were going to their jobs, Tescos were still selling balsamic vinegar in ridiculously small expensive bottles…

    … and the best was Soros lost billions having bet big on UK obeying Obum’me and voting remain.

  7. I didn’t bother to read the article but what exactly is the problem?

    I thought we all knew that Brexit was going to make the EU’s(EU≠member nations) spectacular own-goals highly visible.

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