• 270 days Could Crypto Overtake Traditional Investment?
  • 275 days Americans Still Quitting Jobs At Record Pace
  • 277 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 280 days Is The Dollar Too Strong?
  • 280 days Big Tech Disappoints Investors on Earnings Calls
  • 281 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 283 days China Is Quietly Trying To Distance Itself From Russia
  • 283 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 287 days Crypto Investors Won Big In 2021
  • 287 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 288 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 290 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 291 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 294 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 295 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 295 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 297 days Are NFTs About To Take Over Gaming?
  • 298 days Europe’s Economy Is On The Brink As Putin’s War Escalates
  • 301 days What’s Causing Inflation In The United States?
  • 302 days Intel Joins Russian Exodus as Chip Shortage Digs In
  1. Home
  2. Markets
  3. Other

IMF Changes Tune On Brexit: Prior Fearmongering Suddenly a 'Better Opportunity for Reform'

Now that the Brexit vote is over the IMF radically changed its tune.

Ahead of the vote IMF head Christine spoke of a "prolonged period of uncertainty." Now the IMF sings praises of opportunities to come.

Please consider Lagarde says Brexit will Give EU More Freedom for Reform.

Christine Lagarde, the head of International Monetary Fund, has expressed optimism that Europe will emerge from the Brexit crisis "on top", saying Britain's exit from the EU could leave the bloc with more freedom to implement decisions.

Ms Lagarde suggested the UK's vote last month to leave the EU left European leaders with greater flexibility to carry out reforms and move ahead with projects the UK had previously opposed.

"I have heard European commissioners, one after the other, say, 'this is so complicated, we can't do it because of the British'," she said. "Maybe there are things that one should consider doing now that the British aren't going to be sitting at the table."

"I believe Europeans will come out of Brexit on top," she added

The IMF has previously warned that Brexit could trigger a "prolonged period of uncertainty," and called on the UK and EU to work towards a "smooth and predictable transition".


Freedom to Reform

Hooray, with those nasty British out of the way, at long last the EU is free to reform.

They can start by booting Jean-Clause Juncker and scrapping thousands of nannycrat rules.

But let's stop pretending it was the UK holding back reform. It was Chancellor Angela Merkel on immigration rules and France on agricultural rules. Jean-Claude Juncker wants a United States of Europe, complete with its own army.

On June 30,I noted Four Countries Blame Jean-Claude Juncker for Brexit, Two Seek His Ouster.


Key Ideas

  • Poland, Hungary, Slovakia and the Czech Republic issued a joint statement "The genuine concerns of our citizens need to be better reflected. National parliaments have to be heard."

  • Poland and the Czech republic want Juncker booted.

  • Governments in Warsaw, Budapest, Prague and Bratislava say powers should be repatriated to national capitals to make the EU more democratically accountable.

  • "No one believes in the United States of Europe" said Poland's deputy prime minister Mateusz Morawiecki.

  • "Our voice is the voice of reason," said Morawiecki, "as for many years the British voice was the voice of reason."

  • Czech prime minister Bohuslav Sobotka has said the overall functioning of the EU and the commission should change.

  • Robert Fico, the Eurosceptic premier of Slovakia -- which takes over the EU's rotating presidency this week -- has offered to host an exceptional summit to discuss the bloc's future shape. "If somebody thinks we can offer to the European public what we give it now after Brexit, they are mistaken," said Fico.

Christine Lagarde

Certainly, getting rid of Juncker constitutes reform, but somehow I doubt that is what Largarde had in mind.

And note Poland's deputy prime minister Mateusz Morawiecki called the UK a "voice of reason."

Apparently, now the the "voice of reason" is gone, the EU can reform.

Lagarde is more delusional than ever.

 

Back to homepage

Leave a comment

Leave a comment