• 5 hours Citibank Analyst Predicts $300k Bitcoin By End Of 2021
  • 3 days Bitcoin Lives Up To Its Safe Haven Status In A Big Way
  • 3 days 14 Million People Will Lose Unemployment Benefits On December 31st
  • 5 days Why 12 Million American Millionaires Isn’t Good News
  • 6 days Big Oil Is Paying The Price For Investing In Renewables
  • 7 days The Banking Industry’s $35 Billion Gravy Train Could Disappear
  • 8 days Did Amazon Just Democratize Prescription Drugs?
  • 9 days The Private Space Race Just Got Very Real
  • 11 days Short Sellers Are Willing Big In This Turbulent Market
  • 12 days SpaceX Gets Go-Ahead To Send Humans Into Space
  • 13 days Saudi Arabia Lost $27 Billion In Oil Crash
  • 14 days China’s Big Tech Takes A Hit As Regulators Crack Down
  • 15 days Black Friday Could Be Retailers’ Only Hope
  • 16 days Why You Should Not Dump Your Stay At Home Stocks Just Yet
  • 17 days The Real Reason Why Uber And Lyft Stocks Have Soared Nearly 50%
  • 19 days Bitcoin Heads Towards $16,000 And No One’s Cashing In
  • 20 days Elon Musk’s $250 Tesla Tequila Is Already Sold Out
  • 21 days Will The San Francisco Wealth Tax Spark An Exodus Of The Rich?
  • 22 days The Fin-Tech IPO Of The Century Just Got Crushed
  • 23 days UK Bookies Report Largest-Ever Political Bet Ahead Of Election Results
What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

  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