Edition: International | Greek

Home » Editor’s Column

In a ‘constructive’ Brexit spirit May repeats: ‘better no deal than a bad deal’

In her speech in Florence (Italy) at the end of September, UK Prime Minister May made clear that Britain will not leave the EU on March 30 2019, the date that the EU Withdrawal Bill will be enacted and the UK membership will be terminated officially

By: N. Peter Kramer - Posted: Tuesday, September 26, 2017

text size [–] [+]
Her Florence speech confirmed the UK’s intention to adopt a status quo transition, where the UK continues to operate under ‘the existing structure of EU rules and regulations’, for around two years after March 2019. Mrs May also said that no member state would have to pay more, or receive less from the EU budget until 2020, the end of the current multiannual budget period.
Her Florence speech confirmed the UK’s intention to adopt a status quo transition, where the UK continues to operate under ‘the existing structure of EU rules and regulations’, for around two years after March 2019. Mrs May also said that no member state would have to pay more, or receive less from the EU budget until 2020, the end of the current multiannual budget period.

MORE ON Editor’s Column

by N. Peter Kramer

But she worked hard to reassure all those who voted to Leave that there will be a ‘strictly time-limited implementation’ period of two years. 

Instead of a grand, detailed vision with her personal stamp upon it, to some extent she tried pleasing all sides. What else could she have done in Florence at that moment? Mrs May was not aiming to get Britain through the next four years but the next five or six months. And in doing so, to unblock negotiations which have stalled, she had to play many trump cards. 

Her Florence speech confirmed the UK’s intention to adopt a status quo transition, where the UK continues to operate under ‘the existing structure of EU rules and regulations', for around two years after March 2019. Mrs May also said that no member state would have to pay more, or receive less from the EU budget until 2020, the end of the current multiannual budget period. 

Did she make too many concessions? Impossible to answer. Everything will be forgotten when there is a bold, flexible final deal. The Prime Minister, much too vaguely, tried to outline one in her speech. And do not overlook that she repeated: better no deal than a bad deal. Anyhow, Mrs May made a reasonable offer and the EU must respond. 

The question now whether the EU will be reasonable as well. Not many EU watchers outside the Brussels bubble are expecting that. The ‘war’ will go on. It looks as though the EU negotiators don’t want to negotiate at all. Under the guise of negotiations, Barnier and his team want to force May to give, unconditionally, everything that Brussels wants. After that, they, perhaps, might be willing to hear what she wants….

Europe

AU-EU 2017 Summit: A summit that must make history

Amidst an unprecedented migration crisis, new security threats, and rapidly growing populations, it’s no secret that Africa and Europe need a redefined partnership that delivers jobs, growth, and security to both continents, argues Dorine Nininahazwe

Business

Is the age of management over?

"The key to management is to get rid of the managers," advised Ricardo Semler, whose TED Talk went viral, introducing terms such as “industrial democracy” and “corporate re-engineering”

Editor’s Column

Eurozone banking supervision shows a growing audit gap

By: N. Peter Kramer

The supreme audit institutions of five European countries (Germany, Cyprus, Finland, Austria and the Netherlands) conclude in a joint report that there is a growing audit gap in the public supervision of banks in the eurozone

MARKET INDICES


Live World Indices are Powered by Forexpros - The Leading Financial Portal.

Magazine

View 5/2017 2017 Digital edition

Current Issue

5/2017 2017

View past issues
Subscribe
Advertise
Digital edition

All contents © Copyright EMG Strategic Consulting Ltd. 1997-2017. All Rights Reserved   |   Home Page  |   Disclaimer  |   Website by Theratron