NATO allies alarmed, annoyed by US Open Skies exit

After a special NATO session on Friday to discuss next steps, the statement read out by Secretary-General Jens Stoltenberg was little more than a compilation of long-held views reconfirming NATO's commitment to arms control, disarmament and non-proliferation and a relatively mild rebuke that Russia's "selective implementation" of its obligations "has undermined" the treaty. NATO noted US plans to "reconsider its withdrawal should Russia return to full compliance," and pledged further efforts toward convincing the Kremlin to do so, which it suggested should happen at "the earliest date possible."

Read more: NATO allies alarmed, annoyed by US Open Skies exit | World| Breaking news and perspectives from around the globe | DW | 22.05.2020

Britain:The mouse who roars- as Biritain-EU start exit negotiations : "We will walk away if no deal likely in June, Johnson warns EU – by Benjamin Fox

The UK has threatened to walk away from Brexit trade talks and head towards WTO trading terms with the EU if a draft deal is not in place in June, according to the mandate published by Boris Johnson’s government on Thursday (27 February).

The mandate states that the outline of a deal should be in place at a June summit “and be capable of being rapidly finalised by September”.

“If that does not seem to be the case at the June meeting, the government will need to decide whether the UK’s attention should move away from negotiations and focus solely on continuing domestic preparations to exit the transition period in an orderly fashion,” it says.

The UK has threatened to walk away from Brexit trade talks and head towards WTO trading terms with the EU if a draft deal is not in place in June, according to the mandate published by Boris Johnson’s government on Thursday (27 February).

The mandate states that the outline of a deal should be in place at a June summit “and be capable of being rapidly finalised by September”.

“If that does not seem to be the case at the June meeting, the government will need to decide whether the UK’s attention should move away from negotiations and focus solely on continuing domestic preparations to exit the transition period in an orderly fashion,” it says.

Note EU-Digest: Boris Johnson is playing a dangerous game, with some European politicians calling him " the mouse who roars"

 Read more at: We will walk away if no deal likely in June, Johnson warns EU – EURACTIV.com

Quitting European Union Will Be Damaging For British Exports - by Kalyan Kumar

The rising clamour in Britain to quit the European Union will ultimately backfire the British exports. This warning has been sounded out by David Godfrey, CEO, UK Export Finance. 

Godfrey is the head of the UK's export credit agency and he has fact to argue that sustained association with the European Union is "critical" for British exporters to avoid the risk of being frozen out of the biggest overseas markets. Godfrey, in an interview with The Telegraph, said: "I personally think most business leaders gain an awful lot from being part of the EU. It is critical and important for us to continue there."

 

The export credit guarantee agency was set up in 1919 to support British foreign trade soon after the First World War. Funded by the Treasury, the agency has more than £20 billion exposure on its balance sheet and helps British companies to stimulate exports by way of letters of credit, payment guarantees and direct loans.

The remarks by Godfrey have come in the backdrop of Prime Minister David Cameron's statements and the soaring popularity of the Euro-sceptic UK Independence Party asking to renegotiate Britain's relationship with the EU. The prime minister even wants tightening of the UK's borders to clamp down on migrant workers from other EU states.

In a recent reaction, Jose Manuel Barroso, the outgoing president of the European Commission, also cautioned Britain against quitting EU and end up losing its global influence. The quitting process, referred  as "Brexit," will land the U.K. in distress and would find it hard to negotiate with major trading partners such as China and the US on its own account, Boroso said. 

Read more: Quitting European Union Will Be Damaging For British Exports - International Business Times

"Britain on road to disaster": Cameron’s EU ‘debacle’ proves he is a threat to British economy, says Miliband

David Cameron poses a “real and present danger” to the economy because his doomed bid to block Jean-Claude Juncker leads Britain towards an exit from the European Union that could put up to three million jobs and thousands of businesses at risk, Ed Miliband said today. 

Note EU-Digest:  When will Britain understand that the "power" of the British Empire has come to an end and that their only chance to remain a valuable player on the world's political and economic scene is in participation with the other 27 members of the EU.

Read more: Cameron’s EU ‘debacle’ proves he is a threat to British economy, says Miliband | The Times

Greece leaving the euro could be the spring surprise - by Matthew Lynn

What is the biggest shock that could hit the markets in the coming year? The Federal Reserve not just tapering, but deciding to hike interest rates back to normal levels? Violent protests in China aimed at toppling the government? OPEC deciding to price oil in bitcoins rather than dollars?

Any of these would come as a surprise. 

 

But the most likely shock is something the markets have stopped worrying about — a sudden and dramatic Greek exit from the euro EURUSD -0.15%  

 .

True, there were plenty of predictions of Greece getting out of the euro in 2011 and 2012. It never happened. Instead, a modest amount of debt was written off and the Greeks knuckled down to year after year of grinding recession. The markets have stopped worrying about a Greek exit from the euro — the so-called  Grexit.

Indeed, there has even been some talk of a Greekcovery getting underway. But in fact, the Grexit has not been cancelled, just postponed.

Read more: Greece leaving the euro could be the spring surprise - Matthew Lynn's London Eye - MarketWatch