Good job for whom?Originally Posted by Derby Tup
A good negotiator aims for win win, knows just how far to push. Barnier aimed at win lose. And since there is no agreement just acrimony, Barnier has lost this big time. He has already alienated The EUs biggest potential partner in the process.
His hubris has paralysed Europe, at a time it is already headed into a recession, from which it will not survive intact. German manufacturing is down 10 percent in a few months. Worst figures for many years, Barnier is partly to thank for that. If Germany catches a cold, Italy will catch fatal pneumonia. Yet Even now barnier refuses to discuss trade. People don't seem to realise just how serious the economics are in Italy. It is not just a local problem because of the interconnectedness of banks. Italy can easily take down the entire EU. It's banks are already insolvent. A large proportion of the bank loans are non performing already. It is teetering on a knife edge.
Barnier is now proposing a year extension in which neither the withdrawal agreement nor trade arrangements can be discussed!. The kamikaze idiot is actively trying to frustrate a deal, not to enable one. Barnier is prolonging and increasing the damage. When they write the history in ten years time , he will rightly get much of the blame
The ideology trumping common sense of tusk, Juncker , selmayr, Barnier and others have sowed the seeds of division in Europe which will manifest in populist votes. The centre will be wiped out in upcoming elections, and I predict disastrous consequences for financial confidence in the markets if populist parties take over. 200 basis points on Italian bonds will herald the beginning of the end, and the ECB are not legally allowed to help.
Seriously. I am buying gold. They used to laught at the Old timers in Greece who kept money under their beds and didn't trust banks. But when capital controls started the older generation had the last laugh. It was their money kept entire families alive. If Italian banks crash, expect bail ins here: savings replaced by worthless bank shares.
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