In view of the lock-down of the site tomorrow (see below), we’re publishing two “Letters” columns today. The selection of letters below address the now blazing issue of Brexit – something strangely missing from the pronouncements of our Leader. The first letter is from our correspondent Septimus Octavius:
Good Morning Mr Davis!
You were right to appear so confident in your TV appearance with Michel Barnier. He should, at least temporarily, be known now as Michel Barrier.
The UK’s position must be that there will be no change at all in the trading relationship for goods and services between the UK and the EU after the UK is released from the Treaties. It is as simple as that; “if it ain’t broke, don’t fix it”. This would also, of course, mean that there would be no point at all in any “transitional period”.
M Barnier must be pressed on this very firmly indeed; precisely what barriers does he wish to erect? Any such barriers would naturally be mutual, and how is he going to sell that one to German car manufacturers? Eire of course is the driving force here, being one of the 27, and in respect of which it is common ground that there will be no change at all in the border after the UK is released from the Treaties. As one of the 27, this means that arrangement binds the whole of the 27.
Again, this simple point must be pressed on M Barnier; because of Eire, it will be ILLEGAL for the EU to erect any barriers to trade in goods or services.
Article 50 is brutally clear; nothing is agreed until everything is agreed and ratified by the European Parliament. M Barnier knows this, and is obviously terrified of the possibility of no deal; he expressly made it clear this week that an Agreement is essential from his viewpoint; and of course it is – no deal means no “divorce bill”.
The UK holds all the Aces, and should now play its hand accordingly without delay.
Respectfully, Septimus Octavius
Next, our invaluable correspondent Roger Arthur writes:
As indicated by the architect of the single currency, the ECB made a fatal error in bailing out bankrupt states like Greece and Ireland, see this article.
Now “Capital and Conflict” reports that the Italian government is “living on borrowed time”. That is time borrowed from the ECB, which is not supposed to favour some countries over others, and has limits on how much of each country’s debt it can buy.
Those limits are known as the Capital Key. The Financial Times explained in 2017:
According to its latest monthly bond holding data for July, the ECB “overbought” Italian debt last month, deviating significantly from its capital key rules where member state debt is bought in proportion to the size of each country’s economy.
The Italian central bank, which carries out purchases on behalf of the ECB, snapped up €9.6bn of Italian debt last month – 2 percentage points over its capital key rules […]
The lesson here is that Europe’s fatal flaw is once again having an effect. Not yet in financial markets, but in the banking system’s flows and on the ECB’s balance sheet.
It’s only a matter of time before that changes though. These problems will strike all financial markets. And this time, it’s Italy that’ll be at the centre of the crisis.
What does it mean for the UK? That we must get away from the EU Titanic ASAP.
Respectfully, Roger Arthur
Finally, this letter from our contributor Jack Russell puts the problem of Brexit in the context of UKIP’s current malaise:
I refer to the headlines in today’s ‘Daily Telegraph’, about Soros backing the Anti-Brexit campaign. I also refer to the article by Ambrose Evans-Pritchard with the ominous title ‘Parliament is sleep-walking into a British Versailles over Europe’ which to me is far more serious, given the historical connotations, that Nigel Farage’s warning about the UK becoming a ‘Vichy Britain’.
My question is: where is UKIP? Where is UKIP’s leader? Given that Nigel Farage supports him one might assume that Bolton was given pertinent information. But – nothing! The MSM, if they report about UKIP, are still focussed on Bolton’s affair exclusively. So I do ask the urgent question: where is he? Where is UKIP? And, since we have a leader who is AWOL on the most urgent question facing our country, leaving the members to their own devices – do we actually need one? Even Germany is doing fine after nearly five months without Merkel …
Respectfully, Jack Russell
Attention all readers!
We are finalising the relocation of this site to a different server. Therefore, this site will be in lock-down from 9 a.m. tomorrow, Friday 9th February. Normal service to resume as soon as everything is done, so do check in from time to time. See you all on the flip side!
Your UKIP Daily Team