Last weekend, in his 4,000 word essay on Brexit in the Daily Telegraph, Foreign Secretary Boris Johnson resurrected the claim, much touted during the Brexit referendum, that the UK pays Brussels £350 million every week. This prompted howls of protest from the mainstream media and even from the head of the Office of National Statistics.…
The Brexit talks-about-talks have started badly. What is the chance that there will be no deal at all? Are investors heading for the rapids…? Come dine with me On 26 April Theresa hosted dinner at her well-appointed home in Downing Street for Jean-Claude (a louche Belgian gentleman whom she had met on a caravanning holiday…
Ready. Aim. Fire! The notorious Article 50 of the Treaty of Lisbon (2007) was “triggered” by the United Kingdom last night when Prime Minister May signed off a historic letter to Donald Tusk, President of the European Council. This was delivered by hand by Sir Tim Barrow, our man in Brussels, at 12:20 BST this afternoon.…
Every school kid now knows that if the British government wants to fulfil the will of the British people expressed last June they have “to trigger” or, “to invoke” Article 50 of the Treaty of Lisbon (2007). Prime Minister May has stated that she intends to do this before the end of March 2017. Sadly,…
Regular readers will know my stance on Brexit. And I voted as I did – after much reflection – well aware of the risk of turbulence ahead. Just as I anticipated that the Pound would descend, not in a linear fashion, but in steps. Until, that is, the end-game becomes clear. In a rational world…
Despite the Brexit vote, house builders remain an attractive investment proposition. With its high, well-covered yield and low valuation, Berkeley is a star buy for the long term in my opinion. Brexit may cause underperformance in the short run as well as a volatile share price, but Berkeley’s overall risk/reward ratio has significant appeal. According…
Don’t tell ze Britisch but ve really need zem… In a recent reflection on what central bankers get up to when they meet together for some rest and recreation, I attempted to explain what TARGET2 is. This is the settlements system that, since 1999, has facilitated payments between the various Eurozone countries’ internal settlement platforms.…
The remainiacs control the media Do not underestimate the breadth and depth of the recusant remainiacs. Their mouthpieces are the BBC, the Economist and the increasingly ludicrous Financial Times. But they have extensive influence propagated by Church of England vicars, luvvies, much of the teaching profession as well as trendy entrepreneurs and a throng of…
This is a piece written by Jim for our friends at the Milken Institute, who were generous enough to allow us to reproduce it here. Two weeks ago, I pulled my first all-nighter since I was 18. The news that the side I supported—those urging the United Kingdom to leave the European Union—had won the…
There have been some massive winners and losers since the result of the EU referendum was announced on June 24th. The main casualties have been UK-listed companies exposed to the domestic economy and their European counterparts, with the biggest beneficiaries being international businesses with dollar denominated earnings. It is highly likely that the political and…
