Nomura “Brexit” Contingency Document in Full
Ambrose Evans Pritchard reports this lunchtime that Nomura have begun contingency planning for a possible British exit from the EU:
“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 document was 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”. For some reason the Telegraph have not published the whole document so here it is:
With the Eurozone set to go tits up again in the autumn, that November by-election could prove very interesting…
The sooner we out the EU the better.
I am out!
I guess you’re hoping it all goes tits up before 1st July next year ?
It will be the EU they accede to, not the Euro. The date for the Euro is being kicked further and further into the long grass and is not now expected until 2017. For which read after 2020, if ever, the way things move here.
Having said that, the Kuna and the Euro can be used interchangeably here, even including private individuals who all know the latest exchange rates. That applies to Istria and Dalmatia. Not sure the idea has currency(!) in inland parts, though.
Curiously, the Kuna has been quite depressed against the Euro recently. The economy is rather a basket case due to immense amounts of bureaucracy left over from the communist days. Foreign debt is just over 100%. And we could use some of your water at the moment!
well get back in before we shut the cat flap for the night
Have probably the only electronically operated cat flap in Istria here!
No more broom and dust!
did you know the italian crooner sergio endrigo came from istria
thought not
more useless titbits to adbd to the total sum of futile human knowledge tomorrow
I thought you were out and in at the same time due to Wave-Particle Duality?
Sorry! Just notice you as you replied to Lou Scannon.
Whereas you are quite correct, effects can have multiple causes…
A very good debate on R4 yesterday evening, even though it was chaired by pro EU Evan Davis infront of a carefully selected audience of Europhiles at the LSE. There was simply no good reason why we should remain in and every reason why we should either come out or renegotiate our membership.
To save the Euro they have little choice but to go into political and fiscal Union but Socialist France and hard working Germaqny are poles apart and it could get very bloody. But at least we will be in the outer core
Renegotiate our membership?
Given that it would be impossible to renegotiate anything meaningful or in our interests with 27 different countries all wanting some sort of quid pro quo arrangement. That inevitably leaves just out as the only viable option.
Everything else is just chatter.
Not according to George Eustace but I tend to agree with you. There really was not one good reason why we should remain in Europe, not one. It’s a political ideology, nothing more.
Nonsense, this is merely the product of an unpaid summer holiday intern provided by Unite.
Well, thank God someone is thinking about it. All we get from the Government is Lords reform and “gay” marriage.
and windmills
Coming to your channel very soon:
‘Weird sex : Lord knows I married a gay windmill.’
Absolutely bang on there old bean!!
I only bother with really cracking top-notch issues don’tchaknow!!! what??
And of course, preserving my standing with the €USSR!
What!!?? Wattage???
lord stansted
are you a human third runway ??
if so please decamp to heathrow where your skills are sorely needed
Great Joy!
That’s about EU exit of course, not Lords reform & “gay” marriage!
Or Mp’s charging £678 to learn Hebrew so they can communicate with their gay spouse over breakfast.
What exactly does it take to get voters to put their X somewhere else?
Guido – you need to wake up to the mood. Die hards are getting fed up with No 10
Ah Israel, the most racist state in the world.
Nomura, isn’t that a type of wallpaper?
Uncooked fish
Also the make of trumpet used at Jericho.
The usual wishful thinking from Guido
UK exit from EU…isnt gonna happen.
Can you read? This is from Nomura – take it up with them.
We must boost our economy by pushing for Turkey to join the EU. Swarming into Britain, 20 to 30 million extra workers, and 20 o 30 million extra pensioners, will boost Britain, improve job opportunities for British workers, and rub the right’s nose in it.
OK so long as none of them are winners.
Yeth! Counthil houtheth and benefitsth for all of them!
If that’th acceptable to the unionth.
There’s a bird dropping on your head Milliweed
I have often wondered what had happened to Moussa Koussa.
I’m alive and well thank you.
I’m still here too….
That’s OK Abu. You need to stay close to your employers and your ‘work’
i m still here too
i think i still play midfield for the arsenal unless wenger s fired me .
Very glad to hear it. I thought ‘you’ were (unintentionally) hilarious and so very camp.
They fantasize an awful lot on here, for instance Dave being replaced by Boris / Farage becoming PM / Louise Bagewashe & Nadine Doris in naked mud-wrestling.
Surely Bonkers Boris story is more interesting. Lost the plot today, demanding all school children do 2 hours PE every DAY.
That’s pretty close to standard in a real school.
You know, a private one.
Private? Hardly – most of the amenrties are shared with the locals.
So those paying pay Council Tax for local education (private excluded), private education (general public included) and no rebate.
Madness
Where does one opt out?
Yeah – Boris is thinking gymslips.
OK Moussa.
We are not going to get rid of you so we shall hang you on the wall after all. What sort of hook do you need? Don’t want you dropping on the floor, now…
Steady with the strong stuff, SC.
abu hamza s hook will do fine
But what about all the Euros I bought with the gold???
They accept them in Marks & Spencer
Maitre d’: “I’d like to welcome the British delegation to our most humble restaurant, would you like to chose a table monsieur Cameron?”
Dave: “Thank you, we’ll have that one near the door”
Better still just get it delivered.
We should attribute the spread of food banks to Cameron, Clegg & Osborne.
why
have they just nationalised greggs ???
Wrong people thinking about an exit, until we get rid of the corrupt tripartite then we will still be screwed, it will need more than a bit of glue remover to unglue us from the EU and get our corrupt politicians to understand that they will lose out if we carry on the way we are going, which is a big circle.
The only way we can exit the EU is by getting rid of all the treasonous sons of bitches that now inhabit the HOC at the next election.
Exactly, which is unlikely to happen, sadly. The most we can look forward to is a few
new faces in the Commons, who will struggle to “catch the Speaker’s eye”.
Howzat ?
I was only popping out for a minute.
“that November by-election could prove very interesting…” General Election surely.
That’s Bliar’s dream of being the next EU Dictator/President well and truly jinxed. Mwahahaha.
Sadly it’s not over until it’s over and Camoron gives us at least a referendum on the EU, if we are going to go crash bang like the rest of Europe then let our braindead have a vote , while they’re not watching the soaps or the Olympics.
What’s the chances that the hypocrites Labour spin this by offering us a referendum as soon as they know we are no longer going to be part of the eu.
How so? Hopefully this country will escape the clutches of the EU. But he could still be ‘Dictator/President’ of this totalitarian set-up.
He is probably a puppet master already along with Mandy!
Yes, that’s more than likely.
What happened to Grexit? Spaindex? Italaxe? I reckon that Germany might just say sod it and leave.
Went the same way as DUEMA. Just a dream…
DUEMA complete success. Ed is still leader.
…and he may well win the next election for Labour.
“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”.
What and Van Rompuy and Barroso giving up their £50 odd million a day hand out just like that? Dream on.
:-C Grexit has not really happened?
Both the coalition and the EU operate on the cock-up theory of events and so it’s pointless trying to guess the future.
I just don’t understand. I’m deliberately taking as long as I can to disintegrate and be the catalyst for insurrection and revolution in several European states, yet Boy Dave and chums still close their eyes and think I’m not happening. Do the British political class and their parasites in the media and NGOs have a death wish?
All banks will be working on contingency documents for all manner of potential scenarios
Means nothing
I did not bother to read it…no need really.
I’m guessing profit makers (excluding the politically inept and those on a nice little earner) have actually worked out the german body electorate withdrew their support from the Euro some considerable time ago….while the average german was happy to accept a crooked and/or inept political class while the cash rolled in it will be unlikely to tolerate them now their best customers want their money back.
Goes without saying Dave and Chums are hoping to spring their cash before it all goes tits up….you can bet your boots if they miss the boat UK Jobs will be the last thing on their minds….nothing new there!
Problem is, the only main opposition party that could win against Merkel is the SPD, and they’re even keener than the CDU to throw the German taxpayer’s money out of the window and socialise the whole eurozone. So it’ll be frying pan, fire until the Freie Waehler party gets going properly.