Keep posting on Brexit if its relevant to Barcs. We are only in the phoney war and stupid headlines. Brexit is still a potent force ready to move , slowly and with no one sure in what direction. Very useful for me to read your views on this regards Barc's and banking in general.
bad day on Frank SM for RBS (down 5.29%) LLOY (down 6.4%) AAL (down 3.72%) but BARC seems to have held up (0.36% down only). If this reads across to London tomorrow there will be a blood bath on a lot of FTSE 100 shares !
I am not overly worried by leaving the EU. What worries me is if the gov somehow keep us in the EU by the back door and thus destroys democracy replacing with dictatorship. Love or hate it the vote must be honored.
> also great news the Govt DOES NOT need the MP`s to vote on Brexit TM can do it without their vote
Yes, Theresa May could invoke Article 50 on her ownsome, using the power of royal prerogative.
One eensy ickle problem with that and it all comes around from a legal case back in 1610 (yes, over 400 years ago!) called 'The case of proclamations' which gave the following decision:
"The King (The Queen, in our case) by his proclamation… cannot change any part of the common law, or statute law, or the customs of the realm. "
In short, royal prerogative cannot be used if it changes or affects any part of UK law.
OK, you say. So what? How does that affect invoking Article 50 and getting the UK out of the EU?
Well if Article 50 is invoked and the Brexit process started then it requires a rewrite of certain parts of the European Communities Act 1972, just not immediately when Article 50 is called but two years later when the UK finally leaves the EU.
So by using royal prerogative to invoke Article 50, you would eventually have to rewrite some of the UK laws as a consequence of the UK no longer being in the EU. As you can't use royal prerogative in a way that could change any UK laws, to invoke Article 50 under royal prerogative is technically "unconstitutional", against the statute of existing uK laws.
So where does that leave us? Basically it means that Theresa May could NOT invoke Article 50 under royal prerogative as to do so would be against the UK constitution!
Ahhh!, you say, but the European Communities Act 1972 would no longer be necessary as we would no longer be in Europe!
Well that would be true at that time. The problem is that you can't just "drop" a law when it is no longer necessary. It has to be repealed by UK government, and that requires a whole motion to repeal it followed by a debate and finally a vote. A vote by who? By the members of the House of Commons and the House of Lords, both of which are currently seen as being majority pro-EU.
So, to sum it up. For Theresa May to be able to invoke Article 50 in a method that is confluent with the UK constitution, the two Houses would have to vote to repeal the European Communities Act 1972 first.
So no quick and easy Brexit there. Sorry chum!
..Oh! And let's not forget that for the UK to leave the EU, the EU parliament also has to vote to allow the UK to leave.. and that vote has to be unanimous!
..and only when the UK has actually called for Article 50 can we start dicussing just what exactly leaving the EU will require.
Thank god for Brexit , get some more Jobs since Brexit , also great news the Govt DOES NOT need the MP`s to vote on Brexit TM can do it without their vote , some on this BB said they need MP`s vote to start article 50 , well they dont . http://www.dailymail.co.uk/money/index.html Lot of jobs need to be filled , House building booming now , forget that Teleghraph post banks will keep rising if all this good news keeps filtering through Danny / 5 posts for your Telegraph post what you on .
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