It starts: first Asian bank mulls British exit from the EU

So we have a new term: BRIXIT.

Japan's biggest bank Nomura has issued an 11-page study evaluating the likelihood that the UK will leave the European Union entirely or partly.

Events could accelerate as soon as this autumn if eurozone woes force the Government to commit to a firm date for a BRIXIT referendum.

"The effect a looser relationship with the EU would have on the UK economy in general and on the financial services sector in the UK in particular is not clear at this time, even though British eurosceptics argue that being freed from EU regulation would be a booster. However, the prospect is, in our view, bound to raise concerns – indeed, is doing so already in the City."

The core point is that the eurozone may have to take drastic steps in integration (fiscal union, etc) to save the euro, making it nigh impossible for a fully sovereign state to remain part of the Project.

In other words, it is not so much Britain leaving the EU as the EU leaving the treaty-based club of sovereign states it was supposed to be.

The report is part of the bank's "Issues which keep me awake at night" series.

It does not take sides.

Here are a few extracts, written by Alastair Newton (an ex-British diplomat, former head to Tony Blair's G7 team, and intelligence co-ordinator in the first Gulf War). Unfortunately, we cannot post the whole report online because of Nomura's compliance rules. The bank emphasises that this is his personal opinion.

Continue: http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/1000193...

Blair is "deeply worried" UK may leave EU: paper

(Reuters) - Former British Prime Minister Tony Blair told a German newspaper he
was "deeply worried" Britain might opt to leave the European Union in a
referendum, particularly if too many powers were transferred to Brussels without
democratic legitimacy.

Talk of Britain leaving the EU was once farfetched, but the euro zone debt crisis and the prospect of the currency bloc forging a closer political union have convinced some senior UK politicians it is time to demand a new relationship with Brussels.

Current Prime Minister David Cameron said last month it was a "perfectly honorable position" to call for an immediate referendum on Britain's EU membership - something polls show a majority of British people would vote to reject - but that he would never campaign for an "out" vote because leaving the EU would not serve British interests.

Blair told Die Zeit it was clear that the euro zone crisis would lead to a "powerful political change of the EU", adding: "And on this point, I am deeply worried that Britain could decide by referendum to leave the whole process."

Continue: http://www.reuters.com/article/2012/08/08/us-britain-eu-blair-idUSB...


 

Cracking of the Euro-Elite ... The Triumph of Hope?

Euro founder admits some nations may be forced to leave ... One of the founding fathers of the euro admits that some states may be forced to abandon the single currency, but insists Germany would be better off staying in. Otmar Issing, a former European Central Bank chief economist, warned that the eurozone could be heading towards fracture in a book called How we save the euro and strengthen Europe published this week. "Everything speaks in favour of saving the euro area. How many countries will be able to be part of it in the long term remains to be seen," said Mr Issing in the book, which is written as a conversation between an economist and a journalist. – UK Telegraph

Dominant Social Theme: Like Celine Dion's heart, the EU and euro will go on ...

Free-Market Analysis: Are the Eurocrats finally starting to crack? Otmar Issing, a notable pro-EU figure, has just released a book that promotes the possibility of a euro bust-up.

This is a remarkable turn of events, in our view. It signals we may be correct about what we call the Internet Reformation and the impact it is having on power elite plans to build world government.

More on that below ... First, let's summarize the article excerpted above.

Any way you analyze it, it sounds like the beginning of a climb down.

Read more:  http://thedailybell.com/4166/Cracking-of-the-Euro-Elite-The-Triumph...

Views: 817

Comment

You need to be a member of 12160 Social Network to add comments!

Join 12160 Social Network

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

cheeki kea posted a photo
Wednesday
Burbia posted a video

Strange Videos That Expose Something Massive

#disturbing #video #strange #scary #scaryvideos #strangevideos This is a compilation of the most disturbing videos on the internet, not only...
Wednesday
Doc Vega posted blog posts
Tuesday
Burbia commented on Burbia's video
Tuesday
Burbia posted a video

SUPEROLA & THE LOST BURGERS

This Game is RUBBISH !
Tuesday
pohonemas33 team commented on tjdavis's photo
Thumbnail

DejaVu

"nice very goodjob, i wish you can visit official situs pohonemas33"
Jul 26
Sandy posted a photo
Jul 26
Doc Vega posted a blog post
Jul 25
Saint Quinn favorited Burbia's video
Jul 24
Doc Vega posted blog posts
Jul 24
Burbia commented on tjdavis's blog post The Jewish Couple That Taught Bob Dylan Hebrew and Introduced Him to Zionism
"Haaretz put this story behind a pay wall. Sali Ariel and Terry Noble were the names of the couple…"
Jul 23
William Heckman is now a member of 12160 Social Network
Jul 23
cheeki kea commented on tjdavis's photo
Jul 23
cheeki kea commented on cheeki kea's video
Thumbnail

This Woman DESTROYED Harley-Davidson's Future Forever

"It's a sad day on the highway. But I guess the show must go on. Watch out for the ruination of…"
Jul 23
cheeki kea posted a video

This Woman DESTROYED Harley-Davidson's Future Forever

This Woman DESTROYED Harley-Davidson's Future ForeverWelcome to Ride Radar – Your Frontline Source for Motorcycle Deals, Trends & Market Mayhem.Looking for t...
Jul 23
tjdavis posted a photo
Jul 23
Burbia posted a status
"Who knew releasing the MLK files and literally deflecting, it ends up implicating himself with the Epstein Files."
Jul 21
Burbia posted a video

Dan Bilzerian DEMOLISHES MAGA Nutjob Patrick Bet-David on His Own Show

Watch as two powerhouse personalities collide in this no-holds-barred debate on one of the world’s most contentious issues. Patrick Bet-David, known for his ...
Jul 21
Doc Vega's 7 blog posts were featured
Jul 20
tjdavis's 2 blog posts were featured
Jul 20

© 2025   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted