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…




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Quote of the Day

George Osborne paraphrases Boris, telling the FT:

“If the ball came loose at the back of the scrum, I wouldn’t fumble it”

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