Former US President Bill Clinton and former British prime minister PM Tony Blair are to join forces to fight against a possible British exit from the European Union. Mrs Clinton has already waded into the Brexit debate and thrown her weight behind President Obama who also advises that Britain should remain within the EU Mr Clinton is understood to be preparing a return to Britain to campaign with Tony Blair against Brexit.
Submitted by Constantin Gurdgiev via True Economics blog,
In a recent op-ed in FT, Wolfgang Mu?nchau raised a very valid point that globalisation, free trade and markets liberalisation do produce both winners and losers. Nothing new here. But the key point is that this realisation must be timed / juxtaposed against political and social realities on the ground...
Quoting from Mu?nchau (emphasis is mine):
Following this weekend's leak by Greenpeace demonstrating not only that the TTIP is driven entirely by narrow corporate interests, but that Obama is openly willing to reneg on his pro-environment agenda just to pass the Transatlantic Treaty at any cost, the blowback arrived earlier today when France became the first major European nation which threatened to reject the huge free trade deal between the U.S. and the European Union, because according to AP "it's too friendly to U.S. business and probably doomed."
Despite unleashing his bazooka, Mario Draghi - like his colleagues at The BoJ - appears to have hit the limit of his impotence as the European Commission cut its outlook for growth and inflation across the Union for 2016 and 2017. Citing the economic slowdown in China and other emerging markets, geopolitical tensions and uncertainty ahead of the U.K. referendum on EU membership, WSJ reports EU’s economists also cautioned that the strength of factors that have been supporting growth in the region, such as low oil prices and a weaker euro, could start to fade.