Re: Is Boris the One Blinking First?

Suits me. It's playing into my hands too, and the hands of over 17 million people as well.

Re: Is Boris the One Blinking First?

Brussels 'deeply unimpressed'
https://www.bbc.com/news/uk-politics-54566897

Re: Is Boris the One Blinking First?

Australia has agreements with the EU related to trade, but it does not yet have a comprehensive free trade agreement in place; indeed, it has been*negotiating*one with the EU since July 2018.

The bulk of EU-Australia trade is currently done according to World Trade Organisation (WTO) rules.

But they do have other*agreements*in place, on trade and other issues:

- framework agreement:
in 2017, the two sides reached a so-called framework agreement (which is yet to be ratified) that establishes general principles of cooperation on a wide range of areas including trade, foreign policy and security, and development and humanitarian issues, among others;
- EU crisis management operations:
in 2015, the two sides reached an agreement to allow Australia to participate in EU crisis management operations;
- passenger name records:
in 2012, the two parties reached an agreement on the transfer of EU passenger-name records (PNR) to Australian border authorities to help combat crime and terrorism;
- mutual recognition agreement:
also in 2012, they updated their existing mutual recognition agreement (MRA) for conformity assessments, certifications and markings;
- classified information:
in 2011, an EU-Australia agreement entered into force allowing the exchange of classified information;
- wine:
an agreement on trade in wine was made in 2008;
- there are also other agreements on the peaceful use of*nuclear energy*and*scientific cooperation; and
- Australia has many bilateral agreements with EU countries, such as on*aviation, where it does not have an arrangement with the EU.

In short, EU-Australia cooperation extends well beyond trade.

Is an Australian-style deal just code for no deal?

Yes. Australia does not have a comprehensive free trade agreement with the EU, so the bulk of their trade is done according to WTO rules.

The same would be true of UK-EU trade in the event of no deal. In practice, this would mean tariffs being placed on many goods traded between the UK and the EU, alongside some quota restrictions and customs checks (Northern Ireland*would be treated differently).

But the impact of no deal for the UK would not be limited to trade in goods. No deal would mean cutting all formal bilateral ties with the EU come January 2021, including in other crucial areas such as judicial and police cooperation.

By contrast, as discussed above, Australia has a series of agreements in place across a range of issues and is seeking a free trade agreement with the EU to improve on WTO terms.
https://ukandeu.ac.uk/explainers/wha...text=Australia has agreements with the,Trade Organisation (WTO) rules

Re: Is Boris the One Blinking First?

Things are getting interesting, which I'm sure comes as no great surprise to the sensible and more-rational readers of things Brexit-related.

Boris seems to have worked a blinder and put the EU on the back foot - notice how even Macron is now spluttering reversals?

Personally I hope that - once this farce is over - Boris does as Trump once suggested and sues the EU.

There are probably excellent grounds for doing so, both from the point of EU's own rules being broken (by not ensuring a deal with the leaving country, i.e us [and much more] ) and in international law (by trying to interfere with the borders of a sovereign nation and more).

We've had years of EU intransigence.
Wouldn't it be good to see years of EU discomfort as their blatant coercion costs them dearly?

Re: Is Boris the One Blinking First?

Moody's downgrades UK credit rating to Aa3 from Aa2,*
Moody's cited three reasons for the sovereign downgrade:

First, the UKʼs economic strength has diminished since we downgraded the rating to Aa2 in September 2017. Growth has been meaningfully weaker than expected and is likely to remain so in the future. Negative long-term structural dynamics have been exacerbated by the decision to leave the EU and by the UKʼs subsequent inability to reach a trade deal with the EU that meaningfully replicates the benefits of EU membership. Growth will also be damaged by the scarring that is likely to be the legacy of the coronavirus pandemic, which has severely impacted the UK economy.

Second, the UKʼs fiscal strength has eroded. General government debt, already high and sticky prior to the crisis, has risen further as a result of the pandemic. While the UKʼs reserve currency status provides a high capacity to carry debt, the material increase in debt poses risks to debt affordability in future years, particularly in the absence of a clear plan to reduce government indebtedness. Notwithstanding recent statements of intent by the government, it is in Moodyʼs view unlikely that the government will be able meaningfully to rebuild the UKʼs fiscal strength in the coming years given the low growth environment and the likely political obstacles to doing so.

The third driver relates to the weakening in the UKʼs institutions and governance that Moodyʼs has observed in recent years, which underlies the previous two drivers. While still high,*the quality of the UKʼs legislative and executive institutions has diminished in recent years. Policymaking, particularly with respect to fiscal policy, has become less predictable and effective. Looking forward, the self-reinforcing combination of low potential growth and high debt in a fractious policy environment will create additional headwinds to addressing the economic, fiscal and social challenges that the UK faces.

The specific citing of failing institutions is a straight-up slap in the face.

https://www.moodys.com/research/Mood...ble--PR_434172

Re: Is Boris the One Blinking First?

You must explain how this rating effects everyday people?

( Answer: it doesn't. Not one bit.)

Nice try it another misdirection, but "fail".
Do you not wonder why your own IMF suggests UK growth will continue apace post-Brexit?
More than your remaining large economies of France and Germany?

Re: Is Boris the One Blinking First?

It influences investors = employers, so jobs for the common people. Or no jobs.
Interesting to note only you (the UK) were downgraded and not the major EU countries that would feel your no-deal exit most acutely - a good pointer to the disproportionate effect a 'no deal' would have.

Re: Is Boris the One Blinking First?

You're funny, mentioning people yet ignoring the blatantly obvious: where are more people going to be adversely affected by any no deal caused by EU intransigence, Solasch?
Hint: the answer very obviously relates to the huge €90billion/year surplus and which side that surplus is on.

Re: Is Boris the One Blinking First?

Ha ha! No pulling the wool over Moody's eyes!

Re: Is Boris the One Blinking First?

Instead of distraction try answering the question please - or daren't you?

Where does the €90 biliion per year surplus come from - and so where will more people be affected?