I have a memory of @anandMenon1 et al writing about a TM deal being greeted with a surge of ‘it’s a deal’ goodwill (it wasn’t) but the argument seems to hold true for the current deal.
More from Objective Columnist
The Commission’s view, according to several sources, is that Brexit means existing distribution networks and supply chains are now defunct and will have to be replaced by other systems.
Brexit reality bites: The new dawn of trade friction via @RTENews https://t.co/p6VdlhZUAN
— Tony Connelly (@tconnellyRTE) January 9, 2021
Of course, this was never written on the side of a bus. And never acknowledged by government. Everything was meant to be broadly fine apart from the inevitable teething problems.
It was, however, visible from space to balanced observers. You did not have to be a trade specialist to understand that replacing the Single Market with a third country trade arrangement meant the end of many if not all of the complex arrangements optimised for the former.
In the absence of substantive mitigations, the Brexit winners are those who subscribe to some woolly notion of ‘sovereignty’ and those who did not like freedom of movement. The losers are everyone else.
But, of course, that’s not good enough. For understandable reasons Brexit was sold as a benefit not a cost. The trading benefits of freedom would far outweigh the costs. Divergence would benefit all.
London's status as a financial centre isn't as secure as some might think | Dan Davies https://t.co/q9SU7ra4oF
— The Guardian (@guardian) February 13, 2021
The extremely small minority of people who known anything about this who think that Brexit will be good for the City make a number of arguments which I shall address in turn...
1. They need us more than we need them. This is a variant of the German carmakers argument. And we know how that went...Business will follow the profit opportunity and if that has moved then so will the business...
And what do we mean by us / we. We’re not talking about massed ranks of Euro investing / trading etc blue blooded British institutions.
Au contraire. We’re talking about the London based subs of US, Asian and indeed European capital markets players...As soon as they think the profit opportunity has moved then so will they...it’s a market innit...
Still, he's taken a very big step back now. The cliff risk was today; both sides were so close to the edge they could easily have gone over it. The fact @10DowningStreet didn't means Govt must genuinely believe there's now a landing zone that works, & which it can sell ENDS
— Mujtaba Rahman (@Mij_Europe) December 13, 2020
I find it most amusing that people invest so much value in public statements, briefings, tabloid headlines, the tweets of obscure backbenchers etc. Cherchez les fundamentals!
There is a deep vein of analytical pessimism in one particular direction, which, whether correct or not, is noteworthy. On the one hand, a firm belief in the fundamentals - gravity exists - but on the other hand those fundamentals are not meaningful to the final decision.
But gravity does exist! Whether one likes it or not. We do not have wings. Or feathers. And the realisation of the fundamentals will impact the political calculation (though timing differences may apply).
You don’t have to invest any particular optimism or see any virtue in the principal players to make this point.
More from Politics
Right-wing media have essentially convinced themselves that Trump never said "very fine people." They're lying. https://t.co/5960NPMYLJ
— Parker Molloy (@ParkerMolloy) February 11, 2021
I was wondering why that tweet had so many stupid replies. And now I see
The Fine People Hoaxers are trying hard to keep you from reading the actual FULL transcript because then you would see how the hoax was pulled off with devious editing. https://t.co/PQLj0DWuPj
— Scott Adams (@ScottAdamsSays) February 11, 2021
Seriously, this was “the night before.” If you’re at the march where they’re changing “Jews will not replace us” and “Blood and soil,” you’re not a “very fine person.” Full stop.
Trump defense talking about how the then-president was praising the peaceful protests at Charlottesville that occurred "the night before" the violence on Saturday. That was the night where the torch-bearing crowd chanted "Jews will not replace us." pic.twitter.com/HCKS6Q9LBY
— Anthony Zurcher (@awzurcher) February 12, 2021
There are 3 important moments in that transcript.
1.) When someone asked Trump about a statement *he had already made* about there being blame on “both sides,” he said the “fine people” line.

2. Trump does clarify! “I’m not talking about the neo-Nazis and white nationalists — because they should be condemned totally “
Okay!
Then adds that there were “many people in that group other than neo-Nazis and white nationalists.”

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