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© Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.Warring Brexit sides squeeze May as clock ticks down
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itsonlyrocknroll
Prime Minster Theresa government has the responsibly for UK withdrawal from the European Union. This includes exiting membership of the single market and customs union.
Jacob Rees-Mogg chairs the European Research Group (ERG) of 60 Brexit MPs, branding any proposed customs partnership model, well to quote Rees-Mogg
“It’s completely cretinous. It’s a silly idea. It wouldn’t work. It’s impractical. It’s bureaucratic. And it means we’re effectively in the single market,”
There is also the potential deal breaker over governance and oversight of the so called European Commission Withdrawal Agreement, in draft form, remains absent of legal liabilities or specific provisions for how a member states leaves in the absence of a deal.
https://ec.europa.eu/commission/publications/draft-withdrawal-agreement-withdrawal-united-kingdom-great-britain-and-northern-ireland-european-union-and-european-atomic-energy-community_en
When Michel Barnier EU’s chief Brexit negotiator addresses the media usual accompaniment is threats, demands and ultimatums. The result could be the UK government calling his bluff.
Luddite
The UK should stay in the Customs union. It's economic suicide to make trading difficult with our biggest market.
Tangerine2000
You can't stay in the Customs Union and leave the EU though. The Customs Union isn't actually so great. It only accounted for 44% percent (actually less than that because of the Rotterdam effect) of UK exports during the last report. It's continually going down and is estimated to be soon be thirty something percent. The Customs Union in the past, trading freely with the world is the future.
Toasted Heretic
May should have resigned over the Windrush scandal, it's outrageous she's still the boss. But what choice her replacement? Racist buffoon Johnson, android fundamentalist Rees-Mogg or backstabber Gove?
itsonlyrocknroll
Crucially, continuity is of paramount importance.
Prime Minster Theresa May continued premiership must represent a resemblance of stable government.
At least until October European Council meeting. Private polling suggests that the Government will lose in key London boroughs and worse.
One area is the drastic impact of Brexit on UK CCPs, central counterparty clearing houses, and the risk management practices and legality of/to OTC derivatives contract settlement, calculated at $26 trillion up to March 2019.
The impact for all 28 member states, that London provides for cost efficient clearing services to counterparties located in other EU countries and vigorous detailing of multilateral netting of risk exposures especially in the an event of default or termination could have a detrimental effect on pensions, investments, business loans, and a incalculably disruptive effect on banks debt exposure.
Realistically the UK political, democratic culture is rooted in the electorate being able to hold politicians directly accountable. Windrush is an example. Federalism is not a remotely feasible alternative.