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UK Ministers: Mad as Hell and Can't Take it Anymore

Boris Johnson is the latest UK minister to resign over Brexit. His letter to May explains why.

UK Foreign Secretary Boris Johnson resigned this morning. Brexit minister David Davis resigned yesterday.

Two other understory ministers resigned leaving May's government in chaos.

Davis stated Theresa May's proposal “hands control of large swaths of our economy to the EU,” adding the negotiating approach could just lead to further demands for concessions from the EU.

Brexit Central has the full text of Boris Johnson's Resignation Letter.

Here are the key snips.

The British Government has spent decades arguing against this or that EU directive, on the grounds that it was too burdensome or ill-thought out. We are now in the ludicrous position of asserting that we must accept huge amounts of precisely such EU law, without changing an iota, because it is essential for our economic health – and when we no longer have any ability to influence these laws as they are made.

In that respect we are truly headed for the status of colony – and many will struggle to see the economic or political advantages of that particular arrangement. It is also clear that by surrendering control over our rulebook for goods and agrifoods (and much else besides) we will make it much more difficult to do free trade deals. And then there is the further impediment of having to argue for an impractical and undeliverable customs arrangement unlike any other in existence.

What is even more disturbing is that this is our opening bid. This is already how we see the end state for the UK – before the other side has made its counter-offer. It is as though we are sending our vanguard into battle with the white flags fluttering above them. Indeed, I was concerned, looking at Friday’s document, that there might be further concessions on immigration, or that we might end up effectively paying for access to the single market.

Theresa May is Incompetent

Boris Johnson and David Davis are correct.

Theresa May is incompetent and unwilling to do the job at hand.

Mad as Hell and Can't Take it Anymore

Johnson and Davis are mad as hell and can't take it anymore. Both quit with big shouts.

It was the correct decision.

Hard Brexit Odds Rise

Mike "Mish" Shedlock

Proposals for dealing with increasing inequality? His post hints at banksters multiple times, so we could stop recklessly printing money and rewarding fraud and incompetence. Of course this isn't on the agenda and at this point it's doubtful rates could ever be normalized with this debt overhang.

So really there is no solution. Sit back and enjoy the fireworks!

And 20% of German cars end up on British Roads. If the Europeans want to play hard ball then Mutti can deal with the unions.
As for removing inequality, how about treating bankers like every other business and don't bail them out. The rich have got richer thanks to QE and low interest rates which caused asset price inflation but pensioners got shafted when their savings produced no interest. Best way to remove inequality is to normalise interest rates. The young will be able to afford a house, pensioners get some income and the City gets shafted. A win win.

RobinBanks: "how about treating bankers like every other business and don't bail them out".

Interesting thing is that the leaders of the UK, elected by the people of the UK, could have chosen to do that regardless of anything coming from the EU. That is to say -- Brexit is irrelevant to what Robin sees as the real problem.

In or out of the EU, the UK's big problem is the metropolitan leadership in London, who are disconnected from the people of the UK. You guys need a Trump!

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