Video above: Lionel Barber, FT editor, and Janan Ganesh, political commentator, discuss how the UK’s three Brexit ministers — Boris Johnson, Liam Fox and David Davis, the "Brexit Team" — plan to negotiate exit from the EU, and how they will work together. Published July 28, 2016, by FT.com.
Benefits of Brexit: one reason Brexit makes sense
Courtesy of: VisualCapitalist.com
While maintaining economic ties to the single market is an important point to consider, the UK also gains advantages from separating from parts of the EU ecosystem. Parts of Europe are still an economic mess, not getting any getting better. For example, see chart above on non-performing loans (NPLs). Italian banks are being crushed by €360 billion in non-performing loans. Bank stock prices in Italy have plummeted, including Banca Monte dei Paschi di Siena, Italy’s third-largest bank by assets, and UniCredit, the country’s largest bank with just under €1 trillion in assets, is trading at one-third of what it was worth a year ago. The ECB’s Mario Draghi is now backing a public bailout of Italy’s banking sector.
Portugal has a similar banking crisis brewing. Non-performing loans have mounted to 18.5%, and Prime Minister Antonio Costa is also publicly looking for a solution to help Portuguese banks. Even Germany, which is typically rock-solid, has its own banking issues. As covered a few weeks ago, the country’s largest bank, Deutsche Bank, has seen its value collapse as it has been engulfed by scandals.
See on Domain Mondo:
- Theresa May's First Speech As UK Prime Minister, Brexit, The Way Forward 14 July 2016 (calendar and profiles of members of May's 'Brexit Team')
- Deutsche Bank $DB $DBK, Italian Banks, Approaching a 'Lehman Moment'? 06 Jul 2016
- Deutsche Bank, Coco Bonds, Big Trouble Brewing? (videos) 15 Feb 2016
- Scottish fishermen see net benefits from Brexit vote | FT.com
- Brexit gives UK 'huge advantage' in trade deals, predicts car industry chief | telegraph.co.uk
- Brexit Britain to be better off says former Chambers of Commerce boss | Politics | News | Daily Express | express.co.uk
- Brexit: Science firms ‘must seize the benefits of leaving the EU' | London Evening Standard | standard.co.uk
- Who Benefits From Brexit? The Legal Industry, Of Course | Law.com
- London Could Benefit From Brexit, Luxembourg’s Finance Minister Says | WSJ.com
- Brexit Is An Opportunity, Not A Crisis | SeekingAlpha.com
- After ‘Brexit’ Vote, a Burst of Interest in Travel to Britain | NYTimes.com: "... Post “Brexit,” there are indications that Britain is increasing in popularity ... Expedia.com saw a jump in both searches and sales. A company spokeswoman, Sarah Gavin, said that the site had a 30 percent increase in flight search volume from the United States to Britain in the weeks following the Brexit referendum ..."
- 10 reasons to feel positive after Brexit | Voices | TheIndependent | independent.co.uk
- The Drawbacks and Advantages of Brexit | Politics & Policy | politicsandpolicy.org/: "Ultimately, the intellectual disagreements about the EU come down to the simple question of whether the UK is better off manipulating a system that often opposes its interests or pursuing such interests on its own. There is not very much disagreement on whether more trade agreements, deregulation, ending payments to immigrants, or strong positions on international issues could benefit Britain; both sides largely agree that they would."
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