Schäuble adds to Brexit Angst
The new “Spiegel”-cover was meant to bolster the remain camp in UK’s upcoming EU referendum. Instead, due to an interview with German finance minister Schäuble, the Brexit Angst gets bigger.
In an interview with the “Spiegel” quoted by the “Guardian”, the man who wanted to kick Greece out of the Euro is now threatening the UK: There will be no single market access after Brexit, he says:
If the majority in Britain opts for Brexit, that would be a decision against the single market. In is in. Out is out. One has to respect the sovereignty of the British people.
With these harsh remarks, Schäuble is adding to the Brexit Angst that has taken the markets into turmoil on Friday. Here is another quote, from the “FT”, this time:
“UK political risk has become the biggest deal in global financial markets,” strategists with Citi said.
As always, Schäuble seems to be completely unaware of the slump in the markets – or, even worse, he could be playing with it. The German Bund is a safe haven, isn’t it?
And again, the “Spiegel” helps to spread German-style “Vertrauen” (Confidence). Remember the Grexit-debate last year? It was the magazine from Hamburg that started the German “out”-campaign…
alex
11. Juni 2016 @ 20:11
In fact, nothing special will (or even can) happen if Brexit comes (or not), not for GB, not for the EU. Most likely behind the scenes bilateral agreements between GB and EU are already being prepared for any case – bilateral agreements the Swiss Federation and some other European countries have already signed wit the EU. So Schäuble was actually not warning GB, but other EU countries, not to leave this more and more stranding EU-ship. The possible Brexit will change absolutely nothing to better in GB, nor to worse. But it will show, that it is possible to leave without catastrophe following, and that is something Schäuble fears most in a now by Germany absolutely political and economical dominated EU. France or Italy might follow in the years to come, with an Euro-exit as well. So countries will be hopping off the ship, one by one, fed up by a German domination, that is using the EU as a mechanism for a politics of mercantilism, driving the periphery (Spain, France, Italy, SE- Europe) in an absolute economic disaster. Looks like Germany will have to learn it “the hard way” – once again. At the end of this decay I believe a new EU-multilateral-arrangement will pop up, that will prevent the domination of one country over so many others. So thanks to the Brits to do this first step – you will surely not be better off after, but you will (hopefully) help the rest of EU, to consider to take some needed political action as well – to turn the EU in the proper direction again.
Peter Nemschak
11. Juni 2016 @ 20:59
Any member of the EU (Germany, Great Britain and France included) must be aware that outside the European Union its weight on the global level will be insignificant. The unresolved question will remain, what the proper direction of the EU is.
Claus
11. Juni 2016 @ 23:37
The proper direction of the EU? To vanish in a puff of smoke!
Ein Europäer
11. Juni 2016 @ 19:45
Ignoring threats from Mutti to halt’s Maul Mensch, Wolfie went public again.
The diary of Wolfie or ze Memoires of Mr. Wolfie:
Today i haff an interfiew, telling zat Brexit vould mean a dezision against my big fat Fizkal Union. I forgot ve muss not mention Brexit. I dit zat a cupple of times, but i sink i get avay mit it by saying zat we haff to respect ze sovereignty of ze Britissh people.
Furzer proof off my seorie zat Mann kann any old scheiss spout zees days and the Dummköpfer vill beleef it.
Later ze Telefone is gerungen and it iz Mutti viz all kinds of silly kvestyuns about my interfiew.
Mutti alvayss she is aganst me plottink, but zere issnt much she can do while i haff ze oberhand. Ziss Vuman she muss on my list go of those who vill likwidated.
Claus
11. Juni 2016 @ 14:38
One could laugh if it was not so pitiful! If Britain is leaving the EU I am really looking forward for a EU-sanction against the UK including a total ban of cars from Mercedes, Audi, Volkswagen, Skoda, Renault, Peugeot, Seat and Fiat being sold in UK and Rolls-Royce being excluded from Sales & Service of aviation jet propulsion engines, thus grounding a substantial part of the global civil and military aviation. UK probably would retaliate this with a ban against Juncker and Schulz entering the UK. Or with an overflight ban for non-UK airlines.
As to Schäuble: Signs of old age dementia?
As to DER SPIEGEL: There is remarkable interest already by investors to purchase a nice newly built publishing building in Hamburg, top location, top staff dining facilities, which is expected to be sold soon due to crumbling numbers of paid circulation. Surprise?
hyperlokal
11. Juni 2016 @ 13:20
Spiegel: Please don’t go
Lächerlicher kann sich ein ehemaliges Nachrichten-Magazin nicht machen.
Peter Nemschak
11. Juni 2016 @ 13:11
Schäuble is right. You cannot be half-pregnant. In other words you can’t eat the cake and have it. The UK has for many years tried to get the best of all worlds at the expense of others. Now she has to make up her mind.
Joe Thorpe
11. Juni 2016 @ 11:46
I wouldn’t take any notice of that swivel eyed fool. The day we become independent again is the day he becomes an irrelevance to my life!