Brexit, the economy and house prices part 5

Thrugelmir

gfplux wrote: »

Whatever has the EU done, well this is New this week.
http://metro.co.uk/2018/01/13/eu-ban-rip-off-card-surcharges-comes-force-today-7226626/?ito=social.t26
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“Surcharges cost Brits around £166 million a year but today’s ban will make it unlawful for retailers to charge these fees. The new rules will be enforced by Trading Standards who will have the power to take civil enforcement action against traders who breach the regulations.”
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Selling prices have already risen i.e. airfares. Just Eat are levying a 50p transaction charge. There's no such thing as a free lunch........

mrschaucer

Thrugelmir wrote: »

Just Eat are levying a 50p transaction charge. There's no such thing as a free lunch........

That quite made my evening!

Thrugelmir

gfplux wrote: »

Whatever has the EU done, well this is New this week.

Perhaps their attention would be better focused elsewhere. :cool:

ECB Bank-Crisis Management Needs Improvement, Auditors Find

The European Central Bank should upgrade its procedures for handling bank crises by improving its response to the most urgent cases and by streamlining its coordination with the euro-area bank-failure authority, according to the European Court of Auditors.

“The ECB’s operational framework for crisis management has some flaws, and there are signs of inefficient implementation,” the ECA said in a report published on Tuesday. The EU auditors made a series of recommendations with target dates for implementation stretching into next year. The ECB has accepted most of the recommendations, the auditors said.

The ECA report suggests that the ECB “refused to provide important evidence” that the auditors had requested. “This had a negative impact on the audit work to the extent that the ECA was able to draw overall conclusions about the design of the ECB’s processes, but was unable to confirm the operational efficiency, in practice, of its crisis management.”

The ECB’s oversight arm, created in 2014 and headed by Daniele Nouy, has seen its crisis management tested in the last year. In early June, it determined that Spain’s Banco Popular Espanol SA was “failing or likely to fail,” and handed it over to the Single Resolution Board. The Brussels-based SRB forcibly sold the ailing lender to Banco Santander SA, wiping out equity and about 2 billion euros ($2.4 billion) of junior bonds to absorb losses.

https://www.bloomberg.com/news/articles/2018-01-16/ecb-bank-crisis-management-needs-improvement-eu-auditors-find

Eric_the_half_a_bee

ilovehouses wrote: »

Most trade is conducted under trade deals between geographic near neighbours (RTAs).

Really? That isn't true even for the UK: 57% of our exports are outside the EU. I imagine the corresponding figure is far higher for the likes of China.

gfplux

Herzlos wrote: »

And the electorate are going to be very disappointed and upset.

In all honesty I don't think anyone is going to be happy with how Brexit turns out, except for a few gloaters online.

There may be a lot of upset voters. However many are apathetic and don’t bother to vote. In fact in Wales there is an election on 6th February 2018 for the Welsh assembly which will be a perfect time for the electorate to express their opinion on Brexit so far and send a message to Westminster.
https://en.m.wikipedia.org/wiki/Alyn_and_Deeside_by-election,_2018

Last time the Majority of the electorate didn’t bother to vote as the turnout was 35%.

There is then the Council elections in March 2018 when the electorate will have a reasonably widespread opportunity to express their opinion. Sadly if history is anything to go by the majority will not bother to excersise their hard fought for vote. The turnout is normally between 30% and 35%
https://www.local.gov.uk/about/our-meetings-and-leadership/political-composition/local-government-elections

gfplux

Thrugelmir wrote: »

Perhaps their attention would be better focused elsewhere. :cool:

ECB Bank-Crisis Management Needs Improvement, Auditors Find



https://www.bloomberg.com/news/articles/2018-01-16/ecb-bank-crisis-management-needs-improvement-eu-auditors-find

Brexit is a distraction. However your attention should be more focused on the UK as any mistakes due to lack of concentration by the British Government could effect you.
Carillion for example might have little to do with Brexit but the Government look like they took their eye off the ball in the last 6 to 12 months.

HAMISH_MCTAVISH

Eric_the_half_a_bee wrote: »

57% of our exports are outside the EU.

Around 50% of our actual exports are to the EU (the 43% figure is artificially skewed by Gold shipments between the main storage facilities in Switzerland, London and New York), and another 15% of our exports are to countries that the EU has a Free Trade Deal with, so 65% in total currently dependent on EU membership for preferential trading terms.

In addition to that, the EU currently has hundreds of other bilateral agreements in place (at least one with with virtually every country in the World, and dozens with some major countries), all of which will need to be replicated to ensure the same advantages that we have today stay in place.

To put this in perspective, we export more to Ireland than we do to China, India and Brazil combined.

This is entirely normal as most countries trade the most with their geographic neighbours, therefore trade deals with your neighbours are far more important than trade deals with distant nations on the other side of the planet.

gfplux

May and Macron will hold a joint press conference today around 17.00 UK time. This must watch moment will be live on 24 hour news channels.

HAMISH_MCTAVISH

ilovehouses wrote: »

Most trade is conducted under trade deals between geographic near neighbours (RTAs).

Indeed.

Close neighbours New Zealand and Australia, or Canada and the USA, or wherever, are always going to trade far more with each other than with the distant countries thousands of miles away like the UK.

The most important trade deals are the ones with your neighbours.

Arklight

tracey3596 wrote: »

It looks like you don't understand.
There's a heck of a difference between a trade organisation and a political union which the EU has transformed into; had it remained as the Common Market (a trade organisation) I suspect that we would not now be leaving.

Nafta?
Oh, what a bad example regardless, as cogito has already pointed out. And it looks like getting worse.
http://www.telegraph.co.uk/business/2018/01/14/nafta-could-collapse-within-week-fitch-warns/

Yes Tracey, a political union we were able to influence but mostly opt out of, while retaining all the benefits of free trade and visa fee travel. Plus a giant rebate.


The problem is that nothing short of being teleported back to 1952 will really work for you, will it?