If the chances of a deal now stand at 20%, why not walk away and help businesses fully prepare for an exit on WTO terms? According to one well-placed source, the current stalemate is not just about the negotiation itself but also “blame allocation.” telegraph.co.uk/politics/2020/…
“This is going to go on until New Year’s Eve because the side that says: ‘Right, that’s it, no more negotiations’ is going to be blamed for no deal. No one wants to be that person.”
Another reason for both sides going the distance is to prove they have negotiated in “good faith”. Some Brexiteers believe the Govt will have stronger grounds to repudiate the WA (beyond the parts singled out by the Internal Market Bill) if no deal is struck.
The PD clearly states that only agreements developed in “good faith” will give effect to the future relationship.
This gives the UK grounds to argue the EU has acted unreasonably in denying the UK a Canada-style deal, after Tusk's promise in October 2018.
@MPIainDS: “The UK Govt wants to be seen to be going the extra mile so they can say to the British public, and indeed the world: ‘We tried everything. Our ask is very simple and absolutely right. Their ask is indefensible and the optics are going to be very bad for them.
It’s suddenly beginning to dawn on the EU that we won’t back down. Every Pm since Thatcher has caved in but Boris has been very clear from the beginning, Brexit must mean Brexit.”
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It is Europe that would take the biggest aggregate hit from a no-deal Brexit and see a captive market slipping away for decades to come . telegraph.co.uk/business/2020/…
Britain is being subjected to the Syriza treatment of 2015: the pain is being dialed up until resistance breaks.
The EU is stating that the UK must accept the “ratchet clause” and swallow terms (dressed up as level-playing field clauses) that do not exist in normal trade deals.
Moreover, the EU will not try to reach a modus vivendi. This is the latest “no-escape” twist. The EU Commission is instructing member states to engage in a systematic non-cooperation policy, insisting that the UK must be forced back to the table “as soon as possible”.
The double-think of the woke elite blinds them to their own ridiculousness
Both @Cambridge_Uni and the @TheBookerPrizes claim to be defending free speech while simultaneously canceling people they disagree with.
@Cambridge_Uni’s defence of Dr Gopal ("The university defends the right of its academics to express their own lawful opinions which others might find controversial") happens to be a lie — and one so barefaced that it would almost be funny if it weren’t so tragic.
Cambridge has led the way in appeasing the outrage mob: it has singularly failed to defend conservative academics such as the sociologist @NoahCarl90 — summarily dismissed after an open letter from faculty members accused him of racism.
#covid-19 Scientists working at the high security laboratories at Porton Down are testing for antibodies blood samples from across Britain. They hold the key to exit from lockdown telegraph.co.uk/global-health/…
At the Centre for Applied Microbiology and Research, housed within the high security Defence Science and Technology Laboratory at Porton Down near Salisbury, scientists are pouring over 800 blood samples taken from a representative sample of the English population.
They are conducting tests today which, more than any others you may have read about, will decide the shape and timing of (not only) UK’s coronavirus exit strategy. Perhaps, just perhaps, they will provide the key to the door that is lockdown.
Sunak and Carney have delivered a combined monetary and fiscal stimulus of breathtaking panache, each reinforcing the other for maximum effect in a textbook display of timely coordination. telegraph.co.uk/business/2020/…
The preemptive "shock and awe" package cannot prevent recession as Covid-19 shuts down swathes of economic activity, but it can prevent "sound" firms from spiralling into trouble as output hits a sudden stop and liquidity evaporates.
It reduces the risk of a credit crunch that can in turn set off a negative feed-back loop through the lending system. The benefits should feed through later this year and ensure that the U-shaped recovery does not not stretch into an L-shaped slump.
China is losing its battle against the 2019-nCoV – we must brace for a global pandemic. China is nearing the point where social and economic costs of trying to stamp out the coronavirus by totalitarian methods are greater than the trauma of letting it run. telegraph.co.uk/business/2020/…
Richard Meade at Lloyd’s List: “This health emergency has paralysed ports, it has disrupted schedules across all sectors, led to serious challenges for crew management, and prompted a round of container services to be withdrawn, with lines now forecasting issues well into the
second quarter of the year. It has thrown the global gas market into turmoil”. He told me Lloyd’s is getting reports of ships floating round Asia unable to dock at port after port, and running out of food.
Green fortunes will be made as the economy is forced to decarbonise. The rapidly changing investor sentiment and the winners and losers it will create.
By Ambrose Evans-Pritchard telegraph.co.uk/business/25-tr…
Two powerful shocks have hit the fossil industry and its financial ecosystem at the same moment:
- Australia’s six million hectare inferno
- The Netherlands watershed court case
Last month the Dutch supreme court ruled that the country’s climate targets were not stringent enough. It ordered the government to slash CO2 emissions much more deeply than it had planned – or is capable of doing without radical measures – and to do so by the end of this year.