Hapus Dydd Gŵyl Dewi!
Mar 1, 2013 1:15:31 GMT -5
Post by Deleted on Mar 1, 2013 1:15:31 GMT -5
Good morning to Sydney Grew, and indeed, to everyone reading The Third today. Hapus Dydd Gŵyl Dewi! Happy St David's Day!
Dydd Gŵyl Dewi yn Llundain
'The Financial Times' leads this morning with some editorial comment on the diplomatic fallout from EU bonus cap: European parliament’s victory reveals UK’s shifting status. For all the consternation in the City of London about what will happen to bankers’ pay, the bigger question about the bonus cap set to be included in the EU’s capital rules is what it means for the UK’s future relationship with Europe. If a tentative compromise sticks between the European parliament and the Irish presidency of the European Council, EU-based banks will have to limit bonuses to staff to a maximum percentage of their salaries. George Osborne, UK chancellor, may still push for exemptions, but the fact that he is fighting for scraps testifies to a fundamental change in Britain’s ability to get its way in Europe. The salmon pink newspaper concludes thus:
[/b]
Meawhile, the Liberal Democrats have held on to the Hampshire seat of Eastleigh, with their candidate Mike Thornton winning a majority of 1,771 votes. Mr Thornton said there was "no greater honour" than to represent the constituency, and pledged to be a "strong voice for every person" in it. The UK Independence Party's candidate Diane James beat the Conservatives into third place by 1,012 votes. The results indicate a 19.3% swing from the Lib Dems to UKIP. UKIP leader Nigel Farage said the following:
[/b]
BBC News - Eastleigh by-election: Liberal Democrats hold on to Hampshire seat
It is possible, therefore, that not only are the Scots heading for independence from the United Kingdom (UK) in March 2016, Neil McGowan, but that the British are heading out of the European Union (EU) during the terrible teens. From a German perspective, kleines c would advocate the reintroduction of the 'Mark', as economic plans such as the single currency, conceived in the absence of an effective political framework, are always doomed to failure. As for the euro, it should continue as a common rather than as a single currency, allowing the eurozone to solve the eurocrisis. Eurozone central banks should regain the power to manage their own currencies. In order to address the current and ongoing global financial crisis, here is plan c:
[/b][/i]
Wikipedia - Global public good
I propose some toast: to the Welsh! Three cheers from kleines c and the gang (breakfast coffee)!
Dydd Gŵyl Dewi yn Llundain
'The Financial Times' leads this morning with some editorial comment on the diplomatic fallout from EU bonus cap: European parliament’s victory reveals UK’s shifting status. For all the consternation in the City of London about what will happen to bankers’ pay, the bigger question about the bonus cap set to be included in the EU’s capital rules is what it means for the UK’s future relationship with Europe. If a tentative compromise sticks between the European parliament and the Irish presidency of the European Council, EU-based banks will have to limit bonuses to staff to a maximum percentage of their salaries. George Osborne, UK chancellor, may still push for exemptions, but the fact that he is fighting for scraps testifies to a fundamental change in Britain’s ability to get its way in Europe. The salmon pink newspaper concludes thus:
" ... If a bonus cap is a diplomatic defeat, it is one for which the UK bears much of the blame. David Cameron, prime minister, has misjudged the European parliament, whose power was boosted by the Lisbon Treaty and which insisted on a bonus cap as a condition for putting global capital rules into EU law. Pulling his party out of the EP’s main centre-right grouping handicapped his ability to win over parliamentarians, had he had any interest in doing so.
Another error was to overestimate support from Berlin. Other countries have long opposed the UK’s stance on finance; it is German sympathy that has granted Britain an effective veto in these matters. In this case, that sympathy seems outweighed by other considerations: a desire to get to a deal on capital requirements; suspicion of the Anglo-American way of investment banking; and, no doubt, irritation at how Britain hectors the eurozone while declining to take part in what Germany sees as solutions.
If this new reality is seen in the UK as causing real damage to the City, the consequences of Berlin’s changing attitude may be more fissile than it intended. So may another earlier choice by the UK coalition: to stand on the sidelines as the rest of Europe charts a common course, instead of remaining at the table as it used to do, and as a like-minded country such as Sweden still does. The UK’s desire to be an outsider on the inside is becoming ever harder to fulfil."
Another error was to overestimate support from Berlin. Other countries have long opposed the UK’s stance on finance; it is German sympathy that has granted Britain an effective veto in these matters. In this case, that sympathy seems outweighed by other considerations: a desire to get to a deal on capital requirements; suspicion of the Anglo-American way of investment banking; and, no doubt, irritation at how Britain hectors the eurozone while declining to take part in what Germany sees as solutions.
If this new reality is seen in the UK as causing real damage to the City, the consequences of Berlin’s changing attitude may be more fissile than it intended. So may another earlier choice by the UK coalition: to stand on the sidelines as the rest of Europe charts a common course, instead of remaining at the table as it used to do, and as a like-minded country such as Sweden still does. The UK’s desire to be an outsider on the inside is becoming ever harder to fulfil."
Meawhile, the Liberal Democrats have held on to the Hampshire seat of Eastleigh, with their candidate Mike Thornton winning a majority of 1,771 votes. Mr Thornton said there was "no greater honour" than to represent the constituency, and pledged to be a "strong voice for every person" in it. The UK Independence Party's candidate Diane James beat the Conservatives into third place by 1,012 votes. The results indicate a 19.3% swing from the Lib Dems to UKIP. UKIP leader Nigel Farage said the following:
"If the Conservatives hadn't split our vote we would have won. What happened here in Eastleigh was not a freak result. Something is changing. People are sick and tired of having three social democrat parties that are frankly indistinguishable from each other. If you want to have a managed migration policy, you cannot remain a member of the European Union. My prediction is, that over the next year or two, as the European debate gathers pace in this country, the issue of immigration and border controls will become the absolute key to the whole thing."
BBC News - Eastleigh by-election: Liberal Democrats hold on to Hampshire seat
It is possible, therefore, that not only are the Scots heading for independence from the United Kingdom (UK) in March 2016, Neil McGowan, but that the British are heading out of the European Union (EU) during the terrible teens. From a German perspective, kleines c would advocate the reintroduction of the 'Mark', as economic plans such as the single currency, conceived in the absence of an effective political framework, are always doomed to failure. As for the euro, it should continue as a common rather than as a single currency, allowing the eurozone to solve the eurocrisis. Eurozone central banks should regain the power to manage their own currencies. In order to address the current and ongoing global financial crisis, here is plan c:
" ... If kleines c were in charge of the global economy, I would abandon Plan A and B, in favour of plan c. I would negotiate a change to the law, not only in the United Kingdom, but all around the world, and then coordinate the purchase of all sovereign debt by central banks to precisely 80% of Gross Domestic Product. As for government spending, I would look for smart rather than dumb growth, investing in (infrastructure) projects which would not only see a positive return, but also stimulate sustainable economic growth across the wider economy. I would also instruct the Bank of England to consider more imaginative quantitative easing (QE3), but in order to get the money into the real economy, I would encourage all central banks around the world to create new money to invest in global public goods."
Wikipedia - Global public good
I propose some toast: to the Welsh! Three cheers from kleines c and the gang (breakfast coffee)!