Britain is continuing to debate its role and its participation within the European Union in preparation for a major vote on whether to leave the union altogether. There are indications that the referendum – known as Brexit – is likely to be held in 2016.
Irish Independent
It could be argued that Britain was always a reluctant participant in the European experiment fearing for their sovereignty and independence.
As Margaret Thatcher warned back in 1988 “We have not successfully rolled back the frontiers of the state in Britain, only to see them reimposed at a European level, with a European superstate exercising a new dominance from Brussels”.
According to David McWilliams writing in the Irish Independent today, “Mrs Thatcher’s concerns were bang on the money as far as Britain is concerned” and that famous euro-sceptic Thatcher speech in 1988 is remarkably consistent with the British government position today.
McWilliams thinks that sentiment in Britain is ‘sanguine’ about the possibility of Brexit. He believes life will go on. Currently, opinion polls show a slight majority in favour of leaving (see below, click to expand).
Source: The Telegraph
So if Britain does leave, will that diminish the power and resolve of the remaining members of the union? How will Ireland fare post-Brexit? Will the British economy falter or prosper as a result?
Read more on the GoldCore.com blog
David McWilliams is one of Ireland’s leading economic commentators. His objective is to make economics as widely available and easily understandable on as many platforms as possible. Follow him on Twitter.
Other Sources:
See: EU referendum poll tracker and odds
DAILY PRICES
Today’s Gold Prices: USD 1050.60, EUR 994.75 and GBP 703.13 per ounce.
Yesterday’s Gold Prices: USD 1066.90, EUR 1007.68 and GBP 708.80 per ounce.
(LBMA AM)
Gold fell again yesterday and down by $16.30 to close at $1052.70. Silver was down $0.14 yesterday to $14.03. Platinum lost $9 to $828.
IMPORTANT NEWS
Gold slumps to 2010 lows on U.S. rate hike prospects – Reuters
Gold Gets Next Slam as Assets in Top ETP Sink Most Since `11 – Bloomberg
Gold Reels as Most Accurate Forecaster Says Liftoff Near Certain – Bloomberg
Why Bankruptcy Might Be the Mining Industry’s Last Best Hope – Bloomberg
India government official floats idea of national gold exchange – Reuters
IMPORTANT ANALYSIS
Gold (coin) bugs: No, we’re not crazy for buying – CNBC
Gold is money and it is essential to own some of the physical metal – Mining.com
Greeks Told To Declare Cash “Under The Mattress”, Jewelry And Precious Stones – ZeroHedge
Hedge Funds Have Never Been This Short Gold – Zerohedge
Gold Can Fall 15% More – Barrons.com
Read more News & Commentary on GoldCore.com
Download Essential Guide To Storing Gold Offshore
