T-plus Four
In other news.
For whatever reason, the news cycle is consumed with the fate of non-executive Members of Parliament aka the mass resignations in Jeremy Corbyn's shadow cabinet.
To look at the coverage today one would assume the UK government was in total disarray, they are but, for now lets just deal with one FUBAR situation, today the shadow government was reshuffled due to efforts to remove the duly elected leader of the Labour party....in other news we are t-plus four days from the referendum vote and we are NO closer to understanding what's going on.
The markets are not stabilizing. The FTSE 100 closed under 6,000 and the FTSE 250 went down nearly seven percent today and the FTSE 350 lost equivalent of £140bn pounds today.
Barclays and RBS halted trading on their shares because those shares dipped so much, so fast that emergency stops were activated to ensure the company didn't go broke.
These are the REAL problems of the day. These problems need to be dealt with by a serious Government. Not one in waiting but one that takes responsibility for the mess that this country is now in.
France, Italy and Germany have all stated there will be no negotiations with the EU until the Government activates article 50, the EU exit clause. This goes against what every UK government politician is arguing for, a long protracted “pre-negotiation period” before activating the exit clause.
I understand that the Labour woes are a big news story but, in the middle of a constitutional, economic and global crisis, the world needs more answers.
So…this is Monday. Only four more days until the end of the week.
PS The UK’s credit rating was downgraded today.
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