• Hey, guest user. Hope you're enjoying NeoGAF! Have you considered registering for an account? Come join us and add your take to the daily discourse.

The UK votes to leave the European Union |OUT2| Mayday, Mayday, I've lost an ARM

Status
Not open for further replies.

Blue Lou

Member
This was erected in Dover and has since been taken down.

klphCiag.jpg


ZgvrxDOg.jpg
 
Some light reading...

LONDON - The UK has slipped to become least attractive developed market for sovereign wealth funds one year after the 2016 Brexit referendum, according to a survey by asset manager Invesco.

A survey of 97 sovereign wealth funds, pension funds and central banks with a combined $12 trillion (£9.32 trillion) in assets rated the UK 5.5 out of 10 for investor attractiveness, down from 7.5 in 2016.

Germany was the most attractive market in Europe, with a score of 7.8, while Italy and France followed with 6.1. The US was the most attractive place in the world to invest, earning a rating of 8 out 10.

Around 41% of respondents said they would seek to reduce the level of investment in the UK, while 54% said they would wait until the long-term impact of Brexit becomes clearer before making any decisions on asset allocation. Only 5% said they would seek to add new UK assets to their portfolio.

http://uk.businessinsider.com/inves...nds-shunning-uk-after-brexit-2017-6?r=US&IR=T
 
As attractive as it might be to think of the UK realizing Brexit isn't such a hot deal, eating humble pie and going back to the EU, coupled with losing their special status (with the benefit that everyone would now know that the UK needs the EU, so no more EU as excuse for all the ills), I don't think it's going to happen.

Which politician is going to stand up and tell the public "Actually, you guys are fucking morons who can't be trusted with these decisions, we were morons for putting it to a test, trust your betters, back to the EU for us"? I just can't see it. Unfortunately sometimes the only way to learn is to actually do stuff and see that it hurts...
 

Meadows

Banned
I know it probably does the souls of EU technocrats a lot of good saying stuff like the UK can't come back without worse terms, but it is a really daft thing to say to a country if you want to have any kind of working relationship with them.

If that became the official position of the EU then there is an absolutely 0% chance of us coming back and probably a near 0% chance of a deal of any kind. This would be a disaster for both the UK and EU.
 

oti

Banned
I know it probably does the souls of EU technocrats a lot of good saying stuff like the UK can't come back without worse terms, but it is a really daft thing to say to a country if you want to have any kind of working relationship with them.

If that became the official position of the EU then there is an absolutely 0% chance of us coming back and probably a near 0% chance of a deal of any kind. This would be a disaster for both the UK and EU.
Seriously?

"Yeah you guys. Just come back like nothing ever happened. Lulz."

The EU has been clear about its position all this time. No need to appeal to the idiots running the country. No need to outright lie to its citizens. After all of this the concessions made to the UK are dead.
 

Theonik

Member
I know it probably does the souls of EU technocrats a lot of good saying stuff like the UK can't come back without worse terms, but it is a really daft thing to say to a country if you want to have any kind of working relationship with them.

If that became the official position of the EU then there is an absolutely 0% chance of us coming back and probably a near 0% chance of a deal of any kind. This would be a disaster for both the UK and EU.
Sadly the EU as it exists right now is an institution that cannot grasp this concept. The exact same thing happened with Greece and the same will happen here. Deep reform is needed. If anything the Greek situation was much more damning because if that's how they treat their members wait till you see how they treat defectors.

E:
Seriously?

"Yeah you guys. Just come back like nothing ever happened. Lulz."

The EU has been clear about its position all this time. No need to appeal to the idiots running the country. No need to outright lie to its citizens. After all of this the concessions made to the UK are dead.
Even if the UK government understood this which I'm sure they do, they also know they can't sell this turd sandwich to their electorate.
There is no scenario where this can be accepted.
 
D

Deleted member 231381

Unconfirmed Member
I know it probably does the souls of EU technocrats a lot of good saying stuff like the UK can't come back without worse terms, but it is a really daft thing to say to a country if you want to have any kind of working relationship with them.

If that became the official position of the EU then there is an absolutely 0% chance of us coming back and probably a near 0% chance of a deal of any kind. This would be a disaster for both the UK and EU.

Inclined to agree. Brexit is obviously much worse for the UK than the EU, but it would be facile to pretend it isn't also bad for the EU in some respect. Even Britain returning to the status quo from before would be better for both parties than even the mildest of Brexits. I don't think that was an especially sensible comment for Verhofstadt to make.
 
Your problem is that as far as the EU is concerned, the EU is a train and the UK is a car. A collision isn't going to be great for either, but the people in the car should probably be more concerned.
Apparently some people in the UK think it's the same, but that positions are reversed.

So, what do you get in a game of chicken where both sides believe they're in the bullet-proof car that can't in any way lose? A collision.
 

oti

Banned
Sadly the EU as it exists right now is an institution that cannot grasp this concept. The exact same thing happened with Greece and the same will happen here. Deep reform is needed. If anything the Greek situation was much more damning because if that's how they treat their members wait till you see how they treat defectors.

E:

Even if the UK government understood this which I'm sure they do, they also know they can't sell this turd sandwich to their electorate.
There is no scenario where this can be accepted.

Then let this play out as it is planned, I'd say.
 

Tacitus_

Member
Inclined to agree. Brexit is obviously much worse for the UK than the EU, but it would be facile to pretend it isn't also bad for the EU in some respect. Even Britain returning to the status quo from before would be better for both parties than even the mildest of Brexits. I don't think that was an especially sensible comment for Verhofstadt to make.

EU knows that it's bad, that's been their position from the start. But they can't just let countries use A50 as a negotiating tactic without any consequences.
 

Meadows

Banned
EU knows that it's bad, that's been their position from the start. But they can't just let countries use A50 as a negotiating tactic without any consequences.

The idea that anyone else would use a50 in this way after what it's done to the UK's political/economic system is pretty insane.

And that's it's impact on the UK!! The 5th largest economy in the world. Imagine how badly it would go for Italy, Poland or Denmark for example.
 

Kyougar

Member
Inclined to agree. Brexit is obviously much worse for the UK than the EU, but it would be facile to pretend it isn't also bad for the EU in some respect. Even Britain returning to the status quo from before would be better for both parties than even the mildest of Brexits. I don't think that was an especially sensible comment for Verhofstadt to make.


But we (EU) would be at the point we were before this disaster. A return to the status quo with all the benefits for the UK would be just coasting to the next populistic bout to take back control.

The UK has to know it risked everything and got away with a blue eye (getting rid of the benefits) and not play it like "it was just a prank, bro".


The EU will lose more in the long term if we sweep the brexit under the rug. Every alt right party that wants to set foot in other countries and plays with their own exit will see that you can try an exit and if it doesnt work out, just say sorry and you will be back.
THAT cant happen ever!
 
D

Deleted member 231381

Unconfirmed Member
But we (EU) would be at the point we were before this disaster. A return to the status quo with all the benefits for the UK would be just coasting to the next populistic bout to take back control.

The UK has to know it risked everything and got away with a blue eye (getting rid of the benefits) and not play it like "it was just a prank, bro".


The EU will lose more in the long term if we sweep the brexit under the rug. Every alt right party that wants to set foot in other countries and plays with their own exit will see that you can try an exit and if it doesnt work out, just say sorry and you will be back.
THAT cant happen ever!

The UK has already taken significant economic damage from this. I don't think there's a single country that seriously wants to follow that example. Even if the UK does cancel, it will still have lost one significant benefit - its 'soft power'. The UK was surprisingly influential over EU legislation and internal reform outcomes, and had a knack of managing to strike up good alliances (something not appreciated domestically, obviously). That's now gone. The UK would be re-entering utterly humbled.

So I think piling on top extra punishments, just when there's the first sign of wavering, would be a very bad idea. It just makes things worse for everyone - the EU included. Nobody needs more punishment here.
 

KingSnake

The Birthday Skeleton
I think dropping the concessions that Cameron negotiated under the threat of leaving EU is fair. The whole point of that negotiation was for UK to not go for Brexit. Not respecting your part of the deal and losing everybody's time in the process should have consequences.
 
I am not sure the EU has a leg to stand on if the UK rescinds the A50 notification. Obviously we all know it is uncharted water but if they can take backsies on the notification letter I cannot see how anyone can argue that we wouldn't by default be back at the status quo.
 
I am not sure the EU has a leg to stand on if the UK rescinds the A50 notification. Obviously we all know it is uncharted water but if they can take backsies on the notification letter I cannot see how anyone can argue that we wouldn't by default be back at the status quo.

There is nothing in A50 that allows you to rescind the notification of your intention to withdraw from the EU. You could argue that the negotiation described in A50 would allow for an annulment of the notification to be negotiated, but that needs the consent of the remaining member states.
 

Meadows

Banned
I am not sure the EU has a leg to stand on if the UK rescinds the A50 notification. Obviously we all know it is uncharted water but if they can take backsies on the notification letter I cannot see how anyone can argue that we wouldn't by default be back at the status quo.

Yeah I do think there is something to be said for this. Article 50 is a process to leave. If that process is stopped then there's not really any circumstance under which we'd be stripped of our previous rights.

The situation would be different of course if in 10 years time we re-applied to join the EU.
 

KingSnake

The Birthday Skeleton
The article 50 can be stopped only if the rEU votes to stop it. That vote can be conditioned by changing few things before.
 

Theonik

Member
The article 50 can be stopped only if the rEU votes to stop it. That vote can be conditioned by changing few things before.
There is nothing in the process stipulating that. In fact there is very little stipulated about the process at all. Everyone is winging it right now so it's more of a case of reaching a mutually agreeable settlement so the whole matter can be swept under the rug.

The whole 'Rules of the EU' thing only exists when it suits certain parties on either side.
 

Xando

Member
I am not sure the EU has a leg to stand on if the UK rescinds the A50 notification. Obviously we all know it is uncharted water but if they can take backsies on the notification letter I cannot see how anyone can argue that we wouldn't by default be back at the status quo.

If the UK would try to rescind A50 without approval this would become a court case in which case chances are basically 50:50.
In this case UK has 2 options, either try it's luck with the court (and possibly leave without a deal because EU surely won't negotiate during a court case) or accept terms the EU will accept.
 

Meadows

Banned
If the UK would try to rescind A50 without approval this would become a court case in which case chances are basically 50:50.
In this case UK has 2 options, either try it's luck with the court (and possibly leave without a deal because EU surely won't negotiate during a court case) or accept terms the EU will accept.

tbh all of this stuff is pretty emblematic of the red tape that people hate about the EU
 
D

Deleted member 231381

Unconfirmed Member
tbh all of this stuff is pretty emblematic of the red tape that people hate about the EU

Isn't this the absence of red tape? It's so confusing because there's not enough clarifications, not because there's too many!
 

Xando

Member
tbh all of this stuff is pretty emblematic of the red tape that people hate about the EU

I see where you are coming from but i think in this case the EU is trying to make a point to proof poland and these other countries they can't trigger A50 as a negotiating tactic.

Still if all of this is done they definitely need to clarify A50.
 

*Splinter

Member
Isn't this the absence of red tape? It's so confusing because there's not enough clarifications, not because there's too many!
Indeed, and it blows my mind that such important matters weren't considered ahead of time.

I wrote a more comprehensive set of rules for a Rigs tournament for 50 players and approximately three spectators.
 
I am not sure the EU has a leg to stand on if the UK rescinds the A50 notification. Obviously we all know it is uncharted water but if they can take backsies on the notification letter I cannot see how anyone can argue that we wouldn't by default be back at the status quo.

The UK can't take the notification back.

There is nothing to discuss about it.
 

Showaddy

Member
I'd hope that Verhofstadt's comments are posturing for the current Conservative Government. If, by some miracle, a left-wing government managed to win power and steer the country back into the EU It'd be incredibly dumb to punish them for doing so, it'd only lead to resentment and build up more support amongst the right wing again.
 

Theonik

Member
I'd hope that Verhofstadt's comments are posturing for the current Conservative Government. If, by some miracle, a left-wing government managed to win power and steer the country back into the EU It'd be incredibly dumb to punish them for doing so, it'd only lead to resentment and build up more support amongst the right wing again.
You are of course assuming leaving the EU is a right wing matter when it is not. The left wing of the UK has opposed the EU the longest after all. (both wings for different reasons of varying validity)
This shouldn't be a partisan issue in my opinion. There is value from a compromise that appeases all parties.
 
I'd hope that Verhofstadt's comments are posturing for the current Conservative Government. If, by some miracle, a left-wing government managed to win power and steer the country back into the EU It'd be incredibly dumb to punish them for doing so, it'd only lead to resentment and build up more support amongst the right wing again.

There is no EU loving majority in the UK, so it's a pointless exercise.
 

afroguy10

Member
Meanwhile…

img_01139auzd.png

I'd actually laugh if this wasn't so terrifying. My future, my savings, my pension, my quality of life, my wages, my ability to travel the world and experience other people and cultures, heck, even my job could all be drastically altered with this shitshow and they don't have a clue where to even start.
 

Kyougar

Member
You are of course assuming leaving the EU is a right wing matter when it is not. The left wing of the UK has opposed the EU the longest after all. (both wings for different reasons of varying validity)
This shouldn't be a partisan issue in my opinion. There is value from a compromise that appeases all parties.

So there is no one who loves the EU, good riddance?
 
I agree. Just like there's not gonna be single market membership as long as FoM isn't accepted.
And yet the single market existed long before FoM.
I cannot accept that the two are inextricably linked and that one couldn't work without the other. Things worked perfectly fine before 1992.
 

*Splinter

Member
And yet the single market existed long before FoM.
I cannot accept that the two are inextricably linked and that one couldn't work without the other. Things worked perfectly fine before 1992.
They're linked by agreement rather than necessity, yes. But the EU won't change that agreement as it would weaken the union.

In theory we could have single market access without FoM, we simply don't have anything to offer the EU that they want enough to back down on this point (except boatloads of money, at which point single market access would be more expensive than simply accepting trade tarrifs based on WTO or whatever).
 

Theonik

Member
FoM is a necessity to facilitate the current state of the free market. You could have a FTA that excludes FoM but its scope would be limited from that. You can't include services for example and many kinds of modern industries require moving people over on a regular basis. It's a very difficult compromise to reach and no even in the UK's interests.

The UK has no use for a FTA that doesn't include services.

So there is no one who loves the EU, good riddance?
The people in the UK that actually liked the EU only ever did for selfish reasons largely. 'It's good for the economy' 'It keeps UK influence in the continent' etc. So yeah.
 
Status
Not open for further replies.
Top Bottom