Brexit News Archive: 28 May 2016

Varoufakis joins leftwing Remain campaign

Greece's former finance minister says Brexit would benefit Britain's 'political and financial elites'
FT   |   Sat, 28 May 2016 12:19:37

The Eurogroup statement on Greece, annotated

The Eurogroup welcomes that a full staff-level agreement has been reached between Greece and the institutions. Phew. We got that through before the Brexit referendum.Also, the Eurogroup notes with satisfaction that the Greek authorities and the European institutions have reached an agreement on the contingency fiscal mechanism, which is in ...
Frances Coppola / Coppola Comment   |   Fri, 27 May 2016 22:49:00

Reuters Poll: Fund Managers Hike Cash on Brexit, Fed Fears

Global investors have raised holdings of cash and bonds on increased fears of the shock waves that could come from a Brexit vote and a hike in U.S. interest rates this summer, according to a new Reuters poll of global fund managers. read more
Steve Lord / FINalternatives   |   Fri, 27 May 2016 22:43:20


With Goldman suggesting VIX should be in the upper teens based on 'fundamentals' and event risks galore on the horizon (FOMC, Brexit, Spain elections, US elections, etc.) Geneva Swiss Bank suggests it is time to BTFVIX... Goldman's research indicates that changes in the unemployment rate, ISM new orders and consumer ...
Zero Hedge   |   Fri, 27 May 2016 18:50:00


Although the root cause of the UK's discontent with the EU can be found in the way that the 'Common Market' was originally (and dishonestly) sold to the British electorate, the battle of Brexit can also be viewed as yet another front in a wider, multi-faceted struggle across the EU ...
National Review   |   Fri, 27 May 2016 17:38:36

Bone Hits Back at the Straw-Coetzee Lie Machine

Will Straw was not allowed to get away with claiming that EU citizens would be sent back post-Brexit. Another falsehood pumped out by Ryan Coetzee Remainer's Lie Machine. The only people being sent packing will be the EU officials in [...]
Guy Fawkes' blog   |   Fri, 27 May 2016 14:00:25

GBP/JPY corrects for second day running, moves closer to 160.00 level

After rising above 100-day SMA for the first time since Nov. 2015 to a four-week high level of 162.53, the GBP/JPY pair erased majority of its weekly gains and has now dropped back close to the 160.00 psychological mark. In the past few weeks, receding fears of 'Brexit' had been ...
FX Street   |   Fri, 27 May 2016 13:05:11

GBP: Brexit focus restrains GDP - ANZ

Research Team at ANZ, suggests that the UK referendum on EU membership continues to dominate sentiment towards sterling and has weighed the economy. Key Quotes "Opinion polls show a rise in support for the 'Remain' campaign, but the high level of undecided votes is adding to uncertainty. The BoE suggests ...
FX Street   |   Fri, 27 May 2016 12:08:05

Friday Morning Links

MUST READS Brexit 'serious risk to growth' says G7 - BBC Abe claims success as G-7 leaders back action on economies - AP Bankers to share desks as part of financial world's cost-cutting - Telegraph Billionaire's revenge: Peter Thiel's nine-year Gawker grudge - Guardian Seventeen Words That Spelled Trouble for ...
Tim Iacono   |   Fri, 27 May 2016 11:31:16

David Cameron: 'Special relationship' will remain if Donald Trump wins US presidency

Peter Dominiczak / Telegraph   |   Fri, 27 May 2016 05:39:49

A Post-Referendum Agenda for Britain

Even if voters in the UK choose to remain in the EU, Prime Minister David Cameron will have an unpleasant mess to clean up. Rather than focus on the home front, Cameron should take the lead in putting in place a credible European policy for dealing with mass migration.
Chris Patten / Project Syndicate   |   Thu, 26 May 2016 15:33:30

IMF Not Funding July Greece Deal, Still Wants Serious Debt Relief Before Committing New Dough

The IMF has not given up on debt relief for Greece, but due to the upcoming Brexit vote, is holding off on the fight until fall.
Yves Smith / Naked Capitalism   |   Thu, 26 May 2016 09:55:05

S&P: The pound could lose its spot as one of the world's top currencies in a Brexit

Credit ratings agency Standard & Poor's has warned that the pound could lose its place as one of the world's most important reserve currencies if Britain votes to leave the European Union in June. In a new report, titled "Brexit Is A Risk To The Reserve Status Of Sterling" S&P ...
Will Martin / Business Insider   |   Wed, 25 May 2016 13:31:01

IFS warns Brexit would extend austerity for two more years

Thinktank says lower growth and extra borrowing would offset any benefits from halting what it claims is the £150m a week UK contribution to Brussels Britain's leading tax and spending thinktank, the Institute for Fiscal Studies, has warned that leaving the European Union would force ministers to extend austerity measures ...
Phillip Inman Economics correspondent / Guardian   |   Tue, 24 May 2016 23:01:23