And what kind of new concession should be offered? That is easy. What Mr Johnson would need to win a second referendum is an emergency brake on free movement of people, allowing the UK to limit the number of EU nationals moving to Britain if it has surged beyond a certain level.
In retrospect, it was a big mistake on the part of the EU not to give Mr Cameron exactly this concession in his renegotiation of the UKâ€™s terms of membership early this year. It was the prime ministerâ€™s inability to promise that Britain could set an upper limit on immigration that probably ultimately lost him the vote.
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I hardly think that â‚¬650,000 cheapens the EU passport. For the typical British citizen, the message Malta is sending is that the passport in your pocket is worth more than your house and your pension pot put together. Which may not be far wrong: take a typical UK citizen, dump her in Calcutta or Dar es Salaam and see how she gets on. EU citizenship is more valuable than most EU citizens realise.
PMI is a very important sentiment reading, not only for manufacturing, but also the economy as a whole. Although U.S. manufacturing is not the huge component of total gross domestic product (GDP) that it once was, this industry is still where recessions tend to begin and end. For this reason, the PMI is very closely watched, setting the tone for the upcoming month and other indicator releases.
The magic number for the PMI is 50. A reading of 50 or higher generally indicates that the industry is expanding. If manufacturing is expanding, the general economy should be doing likewise. As such, it is considered a good indicator of future GDP levels. Many economists will adjust their GDP estimates after reading the PMI report.
Very interesting article in the Guardian today about the type of foods we are eating and the effect it has on obesity levels in society. The main lesson? Processed foods contain even more sugar than ever and that is what makes people fat in the developed world.
At New York University, Professor Anthony Sclafani, a nutritionist studying appetite and weight gain, noticed something strange about his lab rats. When they ate rat food, they put on weight normally. But when they ate processed food from a supermarket, they ballooned in a matter of days. Their appetite for sugary foods was insatiable: they just carried on eating.