Lloyds Banking Share Discussion Threads

[alphorn] 22/6/2019 10:06

Max #221. You have got it.


I posted this last week on my thread:

Some still seem to be in never never land:

"The Bank of England governor, Mark Carney, has said that the UK would be hit automatically by tariffs on exports to the EU in a no-deal Brexit, rejecting a claim made by Boris Johnson that this could be avoided.
Tory leadership candidate Johnson said this week that tariffs would not necessarily have to be paid if the UK left the EU without a deal because the UK could rely on article 24 of the general agreement on tariffs and trade (Gatt).
Some Brexit supporters have claimed that the Gatt, a treaty under the auspices of the World Trade Organization (WTO), would allow a “standstill221; in which tariffs are avoided, even in the absence of any agreement on trade.

Many trade experts say this is not the case without agreement from both sides. Carney cited the head of the WTO and Liam Fox, the minister for international trade who backed the Vote Leave campaign in 2016, to contradict Johnson.
Talking to the BBC, Carney said: “Gatt 24 applies if you have an agreement, not if you’ve decided not to have an agreement or have been unable to come to an agreement.
“Not having an agreement with the EU means that there are tariffs automatically because the Europeans have to apply the same rules to us as they apply to everyone else. If they were to decide not to put in place tariffs they also have to lower their tariffs with the United States, with the rest of the world. And the same would hold for us.”"

[poikka] 22/6/2019 10:04

Minerve - "Forget GATT 24 chimps."

Gatt XX1V chimp. Apparently it's not to be confused, and yes I do understand Roman numerals before you go off on one,

[maxk] 22/6/2019 10:00

GATT requires cooperation, so perhaps you are right.

[minerve 2] 22/6/2019 09:59

I'm sure Mr Carney is better informed than self-interested Brexiter columns.

[minerve 2] 22/6/2019 09:58

Mr Carney’s comments are supported by trade economists and lawyers, who have long been bemused by Brexiter arguments that the clause would allow British exports to continue to flow untaxed and without restrictions after a no-deal exit.


Forget GATT 24 chimps.

[maxk] 22/6/2019 09:56

Did you read Poikka's article Min?

[minerve 2] 22/6/2019 09:51

Great the BBC got it to the front page as a headline - AS THEY SHOULD!

We want to know what buffoon PM we are looking at getting, thanks to the ever so astute Tory party!

ROFLMAO!

[minerve 2] 22/6/2019 09:50

Love it! We can we have another 'Boris Blooper' in a few days please!

[minerve 2] 22/6/2019 09:49

By-the-way CHIMPS, most smartphones can record voice very well. You don't specialist equipment.

[minerve 2] 22/6/2019 09:46

stag6

We don't all have scumbag lager lout Friday nights!

Some of us are cultured.

LOL

[poikka] 22/6/2019 09:38

Boris should've called in that Tory MP bloke from Mansion House event, he'd have shown the 'lady' the door.

So who's to say that Boris was the problem in their dispute, apart from ever reliable slime ball Grieve, of course.

[poikka] 22/6/2019 09:35

Here's the link

hxxps://lawyersforbritain.org/a-simple-explainer-about-article-xxiv-of-the-gatt

[patientcapital] 22/6/2019 09:12

That's because there aren't any.

[steve4003] 22/6/2019 08:59

PLease read CtRs link post262014 and please supply legal arguments against.
as I've not seen any yet.

I won't hold my breath.

[steve4003] 22/6/2019 08:51

Can somebody supply a link to which leavers said 10-20 year recovery and when said.

[alphorn] 22/6/2019 08:44

diku - as I said "we each have our views"...…R30;…...and our own tea leaves.

Happy brewing. Mine is Russian Earl Grey.

[diku] 22/6/2019 08:37

Why put it in a 10 - 20 years bracket?...has Brexit been experienced before anywhere?...so why not 0 - 5 years or 5 -8 years or 8 - 10 years...fair to say nobody knows...then there is also the possibility no impact at all...




Alphorn21 Jun '19 - 22:05 - 262195 of 262205
0 0 1
It appears that we agree on one thing - a no deal will be costly.
Even the ultra exiteers at any cost have said that at best it will take 10-20 years to recover.
I won't argue with you about that being a price worth paying - we each have our own views.

[maxk] 22/6/2019 08:29

Everything is different now it's the Conservative Party grass roots doing the voting


CHARLES MOORE
Follow Charles Moore 21 JUNE 2019 • 9:10PM







Whoever the members pick will have just 101 days to succeed


Sometimes it makes a difference where you are when you write. I am writing this column at home in the country, somewhere in southern England. The sun is shining and the midsummer grass is green after rain. Being close to the grass, I am close to the grass roots – the people who will decide who the next Conservative leader will be.

Viewers of Channel 4 News on Thursday had the delicious sight of Jon Snow complaining that the Tory electorate in this vote were all white men over the age of 55. Mr Snow is white, male and aged 71. The victim of his harangue was Nusrat Ghani, the brown-skinned, female, Conservative MP for Wealden, who is...




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[xxxxxy] 22/6/2019 08:27

Gatt 24 and free trade

By JOHNREDWOOD | Published: JUNE 22, 2019

The Governor of the Bank of England tells us we cannot escape tariffs by offering to negotiate a free trade agreement. If the EU agrees to free trade talks as we leave the EU then we can.

Gatt is a Treaty designed to promote ever freer trade. Article 24 allows members of Gatt – now the WTO – to negotiate free trade agreements with each other that go further than the trade liberalisation and tariff reduction offered to all other members by the states concerned. The two states must not seek to raise barriers with others as a result of proposing a Free Trade Agreement between themselves. The aim “should be to facilitate trade between the constituent territories and not to raise barriers to the trade of other contracting parties with such countries”

The only requirement to gain GATT approval for having no tariffs on each other’s trade whilst in negotiation is that the two states or customs unions must agree ” a plan and a schedule for the foundation of such a free trade area within a reasonable length of time”.

[grahamite2] 21/6/2019 23:31

Whatever happens, or doesn't, with our exit from the EU the most remarkable thing might turn out to be a remade Conservative Party, a party that actually likes and listens to its members. It must be nearly thirty years since this was the case. Oddly, this coincided with a healthy parliamentary majority, broad popular support, healthy membership levels, home ownership being the norm and so on. Of course, if we don't leave the EU then that remade Conservative Party will actually be called The Brexit Party, but the beneficial effects will be much the same.

[maxk] 21/6/2019 23:12

The Guardian always tell the troof!

[inaminute] 21/6/2019 23:11

If he'd got a brain he would have thought it

[grahamite2] 21/6/2019 23:09

In Life of Brian John Cleese's character said, one total catastrophe like this is just the beginning! And one has to admit, remoaners never give up, however badly things are going for them.

The moment they lost the referendum they got to work on neutralizing it, starting with the brilliant but wholly fraudulent concept of hard/soft Brexit. Naturally their friends in the media ran that for all it was worth.

The latest disaster for them is that Boris has got to the final two, which more or less means he will be PM. And immediately the remoaners start trying to show Boris is unfit.

But it was a blunder to give the story about his domestic situation to The Guardian. Every member of the Party will immediately smell a rat. It won't do Boris a bit of harm.