Published on Jul 22, 2016: Now that the UK has a new government, Theresa May and her ministers have been looking further afield as the country prepares to negotiate its way out of the EU. James Blitz rounds up the week’s Brexit news.
U.K. PM Theresa May: Britain Won’t Leave EU Before End of 2016:
U.K. Prime Minister Theresa May speaks at a press conference following her first meeting with German Chancellor Angela Merkel. Published July 20, 2016
The only thing we have to fear is fear itself.--Franklin D. Roosevelt, U.S. President, FDR's First Inaugural Address (1933)"... the arguments for big short-run damage from Brexit look quite weak ... Indeed, the rebound in British stocks, which are now above pre-Brexit levels, is already causing some backlash against conventional economists and their Chicken Little warnings. Sorry, people, sloppy thinking is always a vice, no matter what cause it’s used for." -- Paul Krugman, Nobel Prize-winning economist, June 30, 2016, NYTimes.com
Markets in Europe since the June 23rd Brexit vote: UK's FTSE100 UP +6.19%; Germany's DAX DOWN -1.07%, France's CAC40 DOWN -1.90%, Friday, July 22:
|Top to Bottom: FTSE100, DAX, CAC40 (source: google.com)|
UK explores multi-billion pound free trade deal with China | BBC.com: "[UK] officials are looking at New Zealand's free trade agreement with China which took four years to negotiate and came into effect in 2008. Care would have to be taken over security concerns and the possibility of China "dumping" cheap imports in the UK - for example steel.... At the G20 many countries are now moving into practical mode ... [Brexit vote is] now a matter for the history books. The British public have spoken. The present challenge is seeing how the fifth largest economy in the world can take advantage of that decision, rebuilding a "close" trading relationship with the EU and new economic relationships with countries, like China, which, it should be remembered, has never had a free trade agreement with any EU country."
See also: News Review [24Jul] | DomainMondo.com: As noted before on Domain Mondo, the EU actually needs the UK more than the UK needs the EU (which is why the UK, instead of EU-dependent Greece, will be the first member state to leave the EU)... UK Property Market Proves Resilient post-Brexit and One month after Brexit: ... "little Brexit effect on [UK] retail sales growth" and ecommerce transactions "showing similar growth rates to those before the referendum."
feedback & comments via twitter @DomainMondo