The Guardian is covering German finance minister Wolfgang Schäuble’s interview comments that he will not let Britain play with him or his EU friends if it does not do what he wants.
Germany’s finance minister, Wolfgang Schäuble, has slammed the door on Britain retaining access to the single market if it votes to the leave the European Union.
In an interview in a Brexit-themed issue of German weekly Der Spiegel, the influential veteran politician ruled out the possibility of the UK following a Swiss or Norwegian model where it could enjoy the benefits of the single market without being an EU member.
“That won’t work,” Schäuble told Der Spiegel. “It would require the country to abide by the rules of a club from which it currently wants to withdraw.
“If the majority in Britain opts for Brexit, that would be a decision against the single market. In is in. Out is out. One has to respect the sovereignty of the British people.”
I am left wondering what he means and why we should care. On what he means, the article does not help.
A lot of people seem to be under the impression that “trade deals” are somehow important. I am of the view that unilateral free trade is perfectly fine. If the German government wants to tax and bully Germans who want to buy things from people in Britain, that is very much the German people’s problem. It might mean that Germans buy fewer things from the UK, but does that really matter? Mainstream thinking seems to be that it will cost Jobs, but jobs are a cost. There is no shortage of work to do, so if British people spend less time and effort making things for Germans they will just have more time and effort left to make things for other British people, or people in other countries. Of course there will be some short term pain and turmoil as a result of changes, but that is true of all changes, so I think it is only necessary to consider the long term. And in the long term, as long as the British government allows us to buy things from Europe if we want to, everything will be fine.
George Osborne tweeted, “UK would have to accept free movement and pay in to EU to continue to access trade”, as if the EU would impose an embargo on us like the USA does Cuba.
Peter Mandelson said, “We cannot leave the club and continue to use its facilities.” What facilities specifically does he mean? There is an awful lot of vague language about. As far as I can tell we will still be able to visit France and bring back wine, even outside of the EU.
Matthew Elliot, formerly of the Taxpayers’ Alliance, Big Brother Watch and now the Vote Leave Campaign Committee, said, “The eurozone economies are dependent on trade with the UK. We are the fifth largest economy in the world, while many of them are in a desperate state due to the failing single currency. There is no question about it, Britain will still have access to the single market after we vote leave. It would be perverse of the eurozone to try to create artificial barriers – and would do far more damage to them than to anyone else.” This sounds about right. But then he went on to talk about the ability to “forge trade deals” with emerging markets outside of the EU, which I still see as unnecessary.
People trade with people. Governments just decide whether to get in the way or not. At least for now, UK government people on both sides of the EU debate are talking about the importance of not getting in the way. So that is one good thing.
The value of the Pound is reacting to every last little bit of news about the EU referendum. The mainstream media would like us to worry that its value could drop if we vote to leave. Everyone is talking about it. Even City AM, though the two comments point out that it depends what time spans you look at. In any case, past Guardian articles bemoan a high value Pound, so Guardian readers must now vote to leave.
The value of the Pound also reacts to traders with fat fingers. I conclude that there is nothing to see here.
Anyway it is quite obvious what will happen to the economy in the event of Brexit: some short term turmoil while things reconfigure themselves to the new arrangements, followed by a bit more growth than there would have been otherwise thanks to slightly less friction from interfering politicians.
This tweet was the first I’d heard of it.
Today I learned that Stansted Airport security will make you put your child’s comforter through the Xray machine. And before you get it back, if the beeper goes off, ask him to stand still on his own to have a wand waved at him.
My two year old boy sat down and screamed at the man. I was very proud.
I am watching Brexit: The Movie. I am only about half an hour in and I am learning a lot. I did not realise how little power the European Parliament had or how many different councils and presidents there were. The tone is measured and reasonable, rather than polemical and raving, which makes it useful and easy to share widely. I understand that it focuses on economic issues, which might even change the minds of those who think anti-EU sentiment is confined to xenophobics. The production standards are very high, too.
I wonder if it will get any publicity in the mainstream press.
Some people think the Rio Olympics might cause the Zika virus to spread all over the world. Reddit is not a reliable place for sensible political commentary, but I am heartened at how up-voted comments like these are:
mixmastamikey: “Global Health Disaster” How about just “Global Disaster”… Why the fuck can’t we reuse olympic venues? Seriously why does a different country need to host the olympics every 4 years. Cant everyone just buy a fucking island and call it olympic island maybe update a few things here and there.
BlueBlazerIrregular: But then the IOC wouldn’t be able to steal millions and would lose out on all that graft and bribery. Think of the rich for once! They are people too!
kangamooster: Hmm, I guess you could consider lizardfolk people….
Kamuiberen: Wait, are we talking about IOC or FIFA here?
BlueBlazerIrregular: Same modus operandi
Anyway it seems unlikely that the Olympics will be stopped or moved and I am not sure if doing so would really make any difference. I am hopeful of solving problems with technology, though. I am quite keen on the plan to exterminate all mosquitoes. And then there is IBM’s rather interesting research into a chemical that blocks viruses in general.
“We began to think, how can we move forward and kind of attack the virus in a very different way,” says Hedrick. “Instead of going after its RNA or DNA, we looked at the glycoproteins that surround…the virus.” No matter what the virus and how it mutates, it’s going to have these substances on the surface; they have electric charges (some positive, some negative) that a chemical can stick onto. What the researchers developed is a polymer that adheres to the virus, blocking it from hooking onto a victim cell in the body.
The idea is to put the molecule in soap and hand-wipes, but it could also be put into a person.
Assuming it works as well as the researchers say, the macromolecule couldn’t come soon enough to handle frightening outbreaks like Zika, Ebola, and chikungunya. But it hasn’t quite come yet. “My gut feeling is, something like a wipe, something like a hand cleaner is going to be relatively straightforward to move to market,” says Hedrick. “It you market it as a true antiviral, I would imagine it would take 3, 4, 5 years maybe maximum.” Getting the macromolecule into humans, where it uses all three of its powers, would require clinical trials than could extend over several years.
Serious question: why the need for such long clinical trials? What is wrong with marketing something with the caveat that it is not fully tested yet and it might be a cure worse than the disease but if you have a terrible enough disease it might be worth a try?
I am at Brian Micklethwait’s place for his latest Friday. This argument against leaving the EU was made (I am literally live blogging, this is breaking news!): The good thing about Brussels is that it is impossible to be emotionally attached to it. This weakens the state.
Interesting discussion is now ensuing. And we have not even got to the speaker yet.
I think we need a Samizdata crowd-sourced entry to the Spectator’s Erdogan offensive poetry competition. Get to work, commentariat!
Edit: apologies for the slow moderation. Comments here seem to be triggering the smite bot a lot for some reason.
I enjoyed this tweet. Regulars might recognise the name.
“One of my top scientists has four kids. How is he going to provide for his kids without profit?” So says Martin Shkreli on this week’s Milo Yiannopoulos Show. Shkreli is supposedly the most hated man in America for raising the price of the drug Daraprim from $18 per dose to $750. The way he tells it, it was like buying a wine company that was selling wine for $2.50 cents per bottle but losing money, when all the similar wine was selling for $100 per bottle. He saved the business.
He described being interviewed on CNBC, a business news channel.
I went on there and it felt like they were shaming me for raising the price of Daraprim and I’m sitting there saying, “all fucking day, 24 hours a day all you talk about is profits, and my profits are inappropriate?
Milo laments the regression of America from a place that celebrated success to one where the media and the government like to punish rich people. Shkreli pointed out how people used to love to hate Bill Gates, but they do not any more, now that he is giving he money away. “What else did they think he was going to do with it?” he asks, pointing out that once you have one billion dollars, you can no longer really spend any more on yourself.
Shkreli has been arrested on fraud charges. He says the charges against him make no sense, given that his investors are making lots of money.
In the interview he comes across as a fun guy who annoys the right people. His Twitter feed is entertaining, too.
Update: There is something of an Ayn Rand novel about his questioning from Congress.
Mars, owner of Dolmio and Uncle Ben’s food brands, is labelling its products to tell people which ones they should only eat once per week. It is something to do with trying to get people to eat less sugar, for some reason.
Nutritionist Jenny Rosborough from Action on Sugar told the BBC’s Victoria Derbyshire programme: “It’s great that they are pushing forward this responsible labelling and raising awareness. “But the challenge we have with it is that only the health conscious will look at the labels in the first place, therefore it’s not going to hit the people who need it the most.”
By which she means poor people who are too stupid to be allowed to make their own decisions. And who are Action on Sugar anyway? The writer of the blog Hemiposterical has found that they are the same people as Consensus Action on Salt and Health, funded largely by the mysterious Marcela Trust. What motivates them, I wonder? (Incidentally, even the NHS is very lukewarm about the harmful effects of salt, when pressed.)
And where did this new war on sugar come from? There is a sugar tax. There is even an app. Made by a quango. It is like a conspiracy of very boring illuminati. And even evil multinational corporations are going along with it. Very strange.
Perhaps it originates from inside the World Health Organisation, who last year urged “countries” to reduce people’s sugar intake by half to 25g per day for adults because sugar causes bad teeth, obesity and diabetes. Yesterday I drank a 330ml bottle of lemonade containing 33g of sugar. I am not obese, do not have diabetes and still have all my teeth.
Put yourself in the position of the head of a government agency. You have an amorphous blob of population and you can poke it with various sticks (such as advice, regulation and taxes) and observe the effects (such as the amount of money spent on certain medical treatments). You can vary the pointyness of the sticks and the amount of poking and get different effects. You keep doing this until you get the effect you want. The truth of the stick is irrelevant. Individuals have no reason to think that there is any truth in government advice. It can be ignored (ignoring taxes is harder). What surprises me is that I observe people making some attempt to follow the advice and berating themselves for failing.