As establishment blowback strikes following over 300 European business leaders call for the British to vote to leave the EU, it is worth remembering Margaret Thatcher’s historic speech, known as the “The Bruges Speech” delivered September 20th, 1988, in which she rejects the political union of Europe and "the federalization of Europe."
Exactly one year and one month ago, I penned "Fu$k the Fundamentals!": Negative Rates In EU Will Absolutely Wreck the Very System the ECB Sought to Save" a piece that warned of the consequences of the EU negative rate policy and how it would effect Spain and Denmark among other EU nations, in particular. To wit:
According to David Cameron, the poorest and most vulnerable people in the UK would be hit hardest by the economic consequences of leaving the EU. Leaving the union would be a “national error” Cameron wrote in an article for the Daily Mirror newspaper. He said leaving would see prices rise and threaten jobs, in a move that has been seen as an attempt to reach out to Labour voters. The BBC reports: The referendum takes place on 23 June, when voters in the UK will be asked whether they want the country to remain in, or leave, the European Union.
In a shocking slap in the face for UK PM Cameron, more than 300 business leaders are calling on Britain to vote to leave the European Union, saying that the country’s "competitiveness is being undermined by our membership." As The Telegraph reports, the letter, signed by some of Europe's most senior business executives, claims Brussels "red tape stifles growth" and a Brexit would "create more jobs" exclaiming that "it is business - not government - which generates wealth."