In the aftermath of Brexit, battle lines over the process have formed.
German chancellor Angela Merkel is on one side, Christine Lagarde and the IMF is on the other side.
Italy and France want things both ways.
IMF Seeks Quick Action
IMF head Christine Lagarde Urges Quick Action on Brexit
The International Monetary Fund has called for the UK and the EU to quell uncertainty over the implications of Britain’s vote to leave the 28-member bloc by acting quickly and cohesively, following three days of confusion.
Christine Lagarde, the IMF chief, said on Sunday that the fund “will continue to encourage the parties involved to actually proceed with this transition in the most efficient, predictable way in order to reduce the level of uncertainty, which will itself determine the level of risk we are facing”.
Christine Lagarde, the IMF chief, said on Sunday that the fund “will continue to encourage the parties involved to actually proceed with this transition in the most efficient, predictable way in order to reduce the level of uncertainty, which will itself determine the level of risk we are facing”.
Asked if the UK could reverse its shock decision, she said: “I just don’t see it, personally” but then added: “I don’t want to be quoted on that. It is very much up in the air”.
Take Your Time
Also consider Merkel Tells the UK: Take Your Time — but Don’t Call Us.
The leaders of Germany, France and Italy on Monday decided against pressing the UK into a rapid start to its Brexit negotiations, in a move that gives London time to consider its options amid raging political and economic uncertainty.
But German chancellor Angela Merkel, French President François Hollande and Italy’s prime minister Matteo Renzi also rejected suggestions from Britain’s Leave campaigners for informal discussions about the break-up — putting pressure on the UK to decide alone on its next moves.
The trio prepared the ground for a key EU summit in Brussels this week where Brexit will top the agenda and the UK will, for the first time, be excluded from part of the discussions.
The decision to give the UK time is at odds with demands from European Commission president Jean Claude Juncker and others for Britain to move quickly into formal negotiations. Ms Merkel opposes that; Mr Hollande and Mr Renzi fell in reluctantly with the chancellor’s approach, with both urging the UK to move “as fast as possible”.
Clear Message Emerges
- Chancellor Merkel wants the UK to take its time
- The IMF wants a quick resolution
- French president Francois Hollande and Italian prime minister Matteo Renzi want the UK to take its time while moving “fast as possible”.
Sheep, Goats, Chickens
If forced to label the three parities cheeps, goats, or chickens how would you assign the animals?
A process of elimination helps.
- Sheep: Hollande and Renzi are clearly the sheep, reluctantly willing to follow the lead of Merkel.
- Chicken: Chancellor Merkel. Chickens bide their time hoping problems go away. What else could Merkel possibly be up to?
- Goat: By process of elimination, Christine Lagarde is the goat.
I have a musical tribute.
Battle Lines
There’s something happening here
What it is ain’t exactly clear …There’s battle lines being drawn
Nobody’s right if everybody’s wrong …Million people in the street
Singing songs and carrying signs
Mostly say, ‘Hooray for our side’ …Stop, what’s that sound?
Everybody look what’s going down
If we bring more animals into the picture, mule is arguably a much better choice for Merkel.
Mike “Mish” Shedlock
To extend the farm animal metaphor, the EU is George Orwell’s Animal Farm from which the Brexiters are leaving.
I’m disappointed… I really thought that Watter’s world would do a millenials survey on the Brexit to find out how many Britains were packing their bag and getting ready to leave.
“Oh, they are waitng for the EU to give them permission… so, whete are they going”?
Take Cameron out of office. He is in no position to be going over to meet them as he is doing. He will be representing the UK as the disgrace that he has found, to people whose association with he has been disgraced over.
He needs to leave office NOW.
Official EU policy: We must have a sound currency and interest rates like the Bundesbank, but we want monetary policy run like Italy or Greece.
In accordance with EU regulations, your Model T Frog can be any color you like as long as it is black. The EU also expects and requires lots of creativity.
Taxes will be kept very low to encourage investment, but also very high to pay for EU headquarters, lavish government conferences, and plenty of welfare. Politicians that impose taxes are exempt from most of them, and just don’t pay the other taxes — regular citizens must pay always and often.
Allowing immigration to move freely throughout the block is essential to EU growth. Just don’t move to my country, we must protect our national culture and identity. But go ahead and freely move to the other EU countries, just not mine.
The EU will have a strong military force to protect itself, promote human dignity and steal Libyan oil fields… Oh, I wasn’t supposed to read that last part out loud… Anyway, you mess with us, the US military will be very angry. And France will complain. Do not test us on this.
The EU respects democracy and the rights of people to rule themselves. But we are NOT going to allow any referendums for our citizens. And we would prefer if non-EU countries keep your elections only to politicians we approve of. No Russians, Egyptians, Muslims, Ukranians or any freakin’ Europeans who believe they have a right to think for themselves.
Finally, we know we have to make a decision about this Brexit thing. DON”T RUSH US!! We love the Brits, we hate the Brits, we want to punish the Brits, we need to sell stuff to the Brits… the bleepin’ Brits don’t obey our edicts. Its very upsetting.
Maybe Merkel is not so stupid. The EU self serving administration needs changing from being an unelected policeman using teutonic policies of suppression to a democratic organisation subject to sacking by concerned citizens – (and have their privileges curbed and made to pay taxes on their income like everyone else).
Merkel is more likely to achieve change than banker enforcers like Schauble. Something needs to happen to stimulate Greece and the Latin economies including France to prevent money flowing to Germany being hoarded at minus interest rates doing nothing. A self serving German grab for Euro assets via the bankruptcy of other Countries will be the next trigger for another European war – is this a new kind of repeat?
The EU rules for Brexit are not as well written as the EU rules for shape and size of an acceptable EU cucumber. According to the EU rules Britain could spend two years preparing a negotiating position before activating Article 50. By that time Marine LePen and France could be on the British side of the negotiating table.
Not to forget regulations on cow fart emissions.
I propose a working committee on carbon capture of cow fart, possibly resulting in
a CCCF-directive.
Great Britain will do as they please and the EU will put up with it. They all remind me of children crying because they did not get their way.
The UK, Eu, and international nomenklatura are going to slow walk Brexit to death. They will find a way to reverse this seemly revolt.
This is how I see it. A lot of “knashing of teeth” but nothing really changes. The borders still go up (slightly more) the Banks get a one day reprieve today…traders start sorting the mess out…the media reports “all is well”, etc but Great Britain and the “New Europe” now forming will create connections that will exist in different forms. This won’t be like WW 1 or WW 2 where the various nations of Europe can’t even communicate with one another. The Wars on the Peripheray…which have been hitting in Europe as well as the USA are still with us and them. Russia, Turkey and Israel are now forming a coalition against the West…that’s about the only change I’ve seen. I don’t see “Europe” in fact doing much.
So that leaves the United States as usual to respond.
Japan as well apparently.
New EU ‘superstate plan’ by France, Germany
http://www.thenews.pl/1/10/Artykul/258994,New-EU-superstate-plan%e2%80%99-by-France-Germany-report
Way too late for that unless the debts of bum southern countries are forgiven and individual countries are willing to entirely give up national sovereignty by losing control of their national budgets. If the latter were to happen, when it comes to the meaning of real “austerity,” they’ll have seen NOTHING up to that point.
In short, a TOTAL German wet dream about as likely to happen as the world’s central banks giving up their garbage economic theories and models.
“The International Monetary Fund has called for the UK and the EU to quell uncertainty over the implications of Britain’s vote to leave the 28-member bloc by acting quickly and cohesively, following three days of confusion.”
What confusion? The initial talk was of it taking 2 years or more.
“The International Monetary Fund has called for the UK and the EU to … ”
Seriously, may I _call_for_ something too? Will I be _blasted_by_ someone _in_the_aftermath_ of my request? Will _studies_reveal_ my _mind_blowing_ power brokerage _in_one_simple_slide_?