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strong and stable

We've had a few crazy days with the aspiring strong and stable Parliament. Buffooning Boris is being taken to court for his ducking and diving associated with closing Parliament. So much for the will of the people and democratic processes.

No wonder most of the other parties are so guarded around the lies of progress in the negotiation and the thought that Boris might simply hoodwink everyone to get Brexit passed.

But where to start? The pound? The stock market? British industry? Let's take a look.

The Pound hasn't done so well, dropping from 1.69 to around 1.22 against the dollar.

Maybe the stock market has fared better? Or maybe not. Here is the FTSE100 compared with the DAX and the S&P400.

I seem to remember I summarised British industry in January 2019. Slip slidin' away.
  1. JPMorgan Chase & Co chief executive Jamie Dimon said the bank would probably use Frankfurt as the legal domicile of its European operations after Brexit, though jobs could be put elsewhere as well.
  2. HSBC chief executive Stuart Gulliver confirmed possible plans to move 1,000 jobs from Britain to Paris in case of a so-called "hard" Brexit, and said recent reforms from the French government would be positive, if enacted.
  3. Goldman Sachs and Morgan Stanley are planning to spread their operations across a number of cities including Dublin and Paris.
  4. Lloyds, Standard Chartered, Credit Suisse, Citigroup and Nomura are among the banks that are planning to expand or set up new offices in Frankfurt in light of Brexit.
  5. Hubertus Väth, the managing director of Frankfurt Main Finance said: “All in all, we expect a transfer of €750bn to €800bn in assets from London to Frankfurt, the majority of which will be transferred in the first quarter of 2019.”
  6. Nomura Holdings has set up new offices for certain operations in Paris and Frankfurt as part of its Brexit preparations, but says it headquarters remain in London.
  7. Other Japanese firms, including Daiwa Securities and Sumitomo Mitsui Financial Group, plan to move their main EU bases out of London.
  8. Carolyn Fairbairn, director-general of the CBI, said the failure to sort out Britain’s departure from the European Union was damaging Britain’s brand abroad and had joined a list of systemic risks to the world economy.
  9. Ford has predicted that a no-deal Brexit will result in costs of $800m (£612m) during 2019 alone, in the latest in a series of stark warnings over potential disruption to British manufacturing.
  10. The Swiss pharmaceuticals company Novartis has said it is stockpiling drugs in the UK before a possible no-deal Brexit, which it warned would be “hugely impactful” for patients.
  11. Jaguar Land Rover, the UK’s largest carmaker, informed employees that it will shut down its four main factories for extra time because of “potential Brexit disruption”.
  12. Airbus manufactures aircraft wings in the UK and employs 14,000 people in the country. Chief executive Enders stated: “It is a disgrace that, more than two years after the result of the 2016 referendum, businesses are still unable to plan properly for the future.”
  13. The BBC is considering Brussels as the location for a new EU base after Brexit to allow it to continue to broadcast across the continent.
  14. Sony will move its European headquarters from the UK to the Netherlands to avoid disruptions caused by Brexit.
  15. Panasonic has already moved its headquarters to Amsterdam, mostly because of tax issues potentially created by Brexit.
  16. BMW plans to shut its Mini plant for a month after the UK’s official departure from the European Union, to minimise the impact of a no-deal Brexit that it fears would cause a shortage of parts.
It's hardly stable, despite Gove's claims that everything will be fine if there's a No Deal Brexit.

Similar stories of uncertainty in the House too, with shambolic scenes intended to echo the time of King Charles I, when members held the Speaker in his chair to delay ending the session.

A glance at certain commonplace pub names would remind us that it didn't end well for the Ruler.

This post first appeared on Rashbre Central, please read the originial post: here

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strong and stable


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