Opinion from a Libertarian ViewPoint

By Blocking Boris Bercow Bins any Real Brexit – Gold Goats ‘n Guns

Posted by M. C. on October 23, 2019

The last breath of an empire that has been dying for a hundred years.

Snatching death from the jaws of life.

House of Commons Speaker John Bercow denied Boris Johnson’s government a meaningful vote on his EU Withdrawal Treaty on Monday after allowing Oliver Letwin to table an amendment designed to force the Government to withdraw it on Saturday.

That amendment passed and the vote was withdrawn. And the question now is what’s next?

The better question is why? Why did they do this when it raises the probability of a No-Deal Brexit given the ‘no extension’ rhetoric coming from the EU?

The answer should be self-evident. The EU will happily grant an extension if the right conditions are in place. And those conditions are simply anything that continues to pave the path towards overturning the 2016 Brexit Referendum vote.

The EU agreed to Boris Johnson’s deal last week because it was the closest thing to a perfect deal for them they would get in a reasonable time frame. The EU want a deal because it brings more certainty to the financial and investment situation across the continent.

What I wrote for Money and Markets on Friday still holds in my opinion:

The EU really thought they had this thing stitched up, as the Brits would say. But the war of attrition they waged against Brexiteers worked against them. Public opinion in the U.K. has hardened around a “No Deal” option and Nigel Farage’s sniping at the Tories’ mishandling of Brexit has been incredibly effective.

I have little doubt that this is what I or Nigel Farage would consider a good deal. In fact, it’s a terrible treaty that sees the U.K. give up most of its leverage in return for very few guarantees.

But it was a deal that was politically possible given the circumstances. And the movement by Brussels at the last minute is your clue that economic conditions on the European continent are far worse than they are letting on.

I’ve been banging on about this for months, Germany’s economy is crashing. As that continued and the domestic political pressure mounts on Angela Merkel, the leverage was rising on the U.K.’s side of the negotiations.

And since Johnson has done the politically unthinkable, get a deal from the EU, his opponents in Parliament are now trying to ensure that whatever happens next he will pay a terrible price politically for it…

Be seeing you

brexit boris - News


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