Following the ridiculously round number demands of EUR100 billion ransom to leave the EU, UK PM Theresa May has stated that EU officials have issued threats against The UK as Europe's negotiating stance has toughened. Furthermore, May accuses EU countries of trying to maliciously influence UK general election result.
Sterling slumped overnight, and tensions between the UK and Europe escalated after EU negotiators hiked their initial demand for Birtain's Brexit bill over recent weeks, widening the divide between Brussels and London, which in turn questions whether it owes anything at all before Brexit talks start next month.
With much of Europe and Asia, including the U.K., France, Germany and China markets closed for Labor Day, Asian stocks and the dollar rose buoyed by news that Congress had reached a deal to keep the US government funded through the end of September. S&P futures are up 4 points or 0.2%. Oil declined as rigs targeting crude in the U.S. rose for a fifteenth week and output from Libya rebounded.
This could be the first official map produced by the European Union to exclude the UK. But it is also an inaccurate one: the UK is still a member state of the EU.
Submitted by Ronan Manly, BullionStar.com
An article in February on BullionStar’s website titled “A Chink of Light into London’s Gold Vaults?” discussed an upcoming development in the London Gold Market, namely that both the Bank of England (BoE) and the commercial gold vault providers in London planned to begin publishing regular data on the quantity of physical gold actually stored in their gold vaults.