The sitting French finance minister Roland Lescure told the BBC this morning:
“British people decided, and that’s obviously their 100% right, and if they’re willing to come back, they will have to decide… But what I can tell them is: come back, anytime.”
France is in the throes of a supermassive debt crisis. Its bond yields are at the highest level in decades and the spread between French and German yields are at levels so alarming that onlookers fear a wider eurozone crisis is on the way. Good luck to the European Central Bank, which may need to start buying up bonds in large quantities…
The graph above is the spread between French and German 10-year bond yields. Good luck to France, which is enjoying watching schools get smashed up while public debt load nears 120% of GDP and no one can pass a €54 billion austerity package…
The euro has dropped 4% against the dollar since September. Despite the claims of some pro-Rejoin commentators Britain would be forced to sign up to euro accession in any rejoin situation. Burnham is off to meet struggling German Chancellor Friedrich Merz today to talk up ‘closer ties’ with the EU which could include informal talks on how the PM might force Britain back in. Out of the frying pan…
Kemi Badenoch at the 1922-ConHome bash last night:
“I did praise [Burnham] for his stamina, it was amazing. All I had to do was sit back and lie there. I didn’t have to do anything at all…”