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Yves Smith

    May delays blueprint for future EU ties until after June summit Financial Times. This is madness and assures a no deal outcome. Early on, I thought there were parallels to Greece, but the difference was that the Greek strategy was coherent save for one fatal flaw: they greatly overestimated their bargaining leverage. But here the same underlying delusion is becoming more obvious on the part of the British officialdom. The only way the UK approach makes any sense is that they assume (or have persuaded themselves) that the EU is bluffing and will relent (David Davis has said this repeatedly). So now, like Greece, they are more openly acting as if they are playing a game of chicken. But again, the Greeks recognized that was what they were up to. Is there anything approaching that level of self awareness in the Government?

by generic on Tue Jun 5th, 2018 at 11:24:38 AM EST

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