Browse content similar to 27/06/2016. Check below for episodes and series from the same categories and more!
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the hashtag and we will get you and others across the hour. -- we will | :00:00. | :00:00. | |
get you and service across the hour. All of last week we travelled the | :00:00. | :00:16. | |
UK. We heard why some people wanted to leave the European Union and | :00:17. | :00:19. | |
others did not. On Friday morning we got the hands from the whole | :00:20. | :00:26. | |
decided to vote to get out of the decided to vote to get out of the | :00:27. | :00:33. | |
European Union. I have come to Brussels, the centre of the European | :00:34. | :00:38. | |
Union. Behind me is the commission and across the road is European | :00:39. | :00:42. | |
Council. This is where the European Union does its business. Tomorrow | :00:43. | :00:47. | |
all of the leaders from the EU will be arriving for a European Council | :00:48. | :00:53. | |
meeting. There was plenty to discuss. The leaders of France, | :00:54. | :00:59. | |
Italy and Germany met today in Berlin to discuss what to do about | :01:00. | :01:06. | |
the UK leaving. At the present time, we have the responsibility is all | :01:07. | :01:12. | |
member states of the European Union have and the institutions to lead | :01:13. | :01:19. | |
the 27 member states on a common path, a common path that means on | :01:20. | :01:24. | |
the one hand to negotiate with Great Britain about their exit. Nothing is | :01:25. | :01:33. | |
worse than uncertainty. Uncertainty gets under way of political | :01:34. | :01:38. | |
decisions. It gets way of financial decisions. They may come -- they may | :01:39. | :01:47. | |
become a rational as a result. The United Kingdom has had this | :01:48. | :01:51. | |
and financially speaking both have and financially speaking both have | :01:52. | :01:55. | |
come into play and these have been the consequences. Europe is solid | :01:56. | :02:02. | |
and strong and they will continue even if changes will have to take | :02:03. | :02:05. | |
place and 30s be reassessed. We must place and 30s be reassessed. We must | :02:06. | :02:10. | |
think about the strategy for the next few months, which may lead us | :02:11. | :02:16. | |
to the heart of what Europe should be and I think we must think about | :02:17. | :02:25. | |
security and growth and young people and it is very important to show | :02:26. | :02:31. | |
that Europe is not just a big place of peace, where we have a 70 years | :02:32. | :02:39. | |
kept peace. One of the people to help me have some questions is this | :02:40. | :02:45. | |
expert. We can talk about the way there is a divide between what we | :02:46. | :02:50. | |
can call hawks and doves within the European Union and how they want to | :02:51. | :02:56. | |
deal with the UK. That is a political Civil War in Brussels and | :02:57. | :02:59. | |
around the EU capitals about how to deal with the results from the | :03:00. | :03:03. | |
referendum. Some people say we should give the UK time as it is | :03:04. | :03:10. | |
going through a political crisis and go through the step-by-step, Hanley | :03:11. | :03:15. | |
and carefully. Others say they should be a slice of the | :03:16. | :03:19. | |
relationship and pressure should be put on the UK to announce that they | :03:20. | :03:22. | |
are going to step forward with Article 50 as soon as possible this | :03:23. | :03:29. | |
week so they can get through this messy divorce. The Parliament is | :03:30. | :03:35. | |
about to propose a non-binding political resolution that would put | :03:36. | :03:40. | |
pressure on the UK to submit its withdrawal from the EU. They can put | :03:41. | :03:46. | |
pressure on but they cannot force the UK. John Kerry was in Brussels | :03:47. | :03:53. | |
earlier and then he met the UK Foreign Secretary. He seems to be | :03:54. | :04:01. | |
striking a town of caution. He said, we should not be vengeful or | :04:02. | :04:06. | |
scatterbrained. We need to be very careful and have a thoughtful | :04:07. | :04:11. | |
approach to this. He reminded the EU that the US still has a close | :04:12. | :04:16. | |
relationship with the UK, a special relationship, and they are going to | :04:17. | :04:19. | |
work closely to make sure this is not cataclysmic in any way. What has | :04:20. | :04:27. | |
it has been like in Brussels? It was feverish in London and presumably it | :04:28. | :04:34. | |
was the same here. Many people here believe in the Federalist European | :04:35. | :04:37. | |
project and they see the future as the United States of Europe and they | :04:38. | :04:40. | |
have just lost one of their biggest states. Those people are | :04:41. | :04:47. | |
heartbroken, probably too emotional, and they think retribution might be | :04:48. | :04:51. | |
the best way to stop the domino affect around Europe, but it is time | :04:52. | :04:58. | |
to sit back and see what happens tomorrow and if they are going to | :04:59. | :05:02. | |
spend the entire time putting pressure on David Cameron or if they | :05:03. | :05:06. | |
are going to discuss their concerns and how they should move forward. | :05:07. | :05:11. | |
Thank you. We can talk about Article 50, which needs to be triggered by | :05:12. | :05:16. | |
the UK for the exit process to begin. David Cameron has said that | :05:17. | :05:20. | |
he wants his successor to do that. Here is a treat from the editor of | :05:21. | :05:25. | |
the BBC's news programme. That would go down very badly in | :05:26. | :05:41. | |
some quarters here in Brussels. We can try to understand the exit | :05:42. | :05:45. | |
process with the help of this report. No divorce is on the cards, | :05:46. | :05:56. | |
what happens next? It could be messy and could take some time. The first | :05:57. | :06:01. | |
thing is to remember the deal did David Cameron struck with the EU in | :06:02. | :06:06. | |
February. I believe this is an offer me to recommend that the United | :06:07. | :06:09. | |
Kingdom remains in the European Union. Forget that, it is off the | :06:10. | :06:15. | |
table now and instead we are hearing a lot about this. Article 50. When | :06:16. | :06:22. | |
the Article 50 process is triggered. Article 50 sets out how the country | :06:23. | :06:28. | |
can leave the EU. It has never been used before. It gives the deadline, | :06:29. | :06:32. | |
two years to negotiate the break-up and that is meant to be head, | :06:33. | :06:37. | |
although it can be extended in all 27 European countries agree. Once | :06:38. | :06:44. | |
Article 50 is underway, the UK is not allowed to take part in EU | :06:45. | :06:50. | |
decisions. We would then have 24 months to negotiate a new | :06:51. | :06:55. | |
relationship with Brussels. The key question is, what taxes and | :06:56. | :06:58. | |
restrictions will our goods and services face? What will happen to | :06:59. | :07:05. | |
EU workers in the UK? What will happen to the British citizens | :07:06. | :07:10. | |
living in other European countries? At the same time, we can start to | :07:11. | :07:16. | |
disentangle 40 years of EU law from our own British law. Many | :07:17. | :07:21. | |
environmental regulations and consumer rights were written in | :07:22. | :07:23. | |
Brussels and they will need to be replaced. Who will be in charge of | :07:24. | :07:30. | |
this? We have not officially said that we want to use Article 50 yet, | :07:31. | :07:36. | |
so the clock has not started taking. It is unlikely that will happen | :07:37. | :07:39. | |
until we get a new Prime Minister in the autumn, or at the elections in | :07:40. | :07:46. | |
France and Germany in 2017. -- after the elections. When the process | :07:47. | :07:48. | |
expect in tense negotiations. Many expect in tense negotiations. Many | :07:49. | :07:55. | |
people think through Brexit is unlikely to happen before 2020 at | :07:56. | :08:02. | |
the earliest. This message has just been sent to us. Will this change | :08:03. | :08:09. | |
the status of English is one of the languages of the European Union? | :08:10. | :08:14. | |
representatives who had been saying representatives who had been saying | :08:15. | :08:18. | |
that perhaps needs to be reconsidered giving Brexit, but | :08:19. | :08:21. | |
nothing official has been discussed yet. This will take a long time to | :08:22. | :08:28. | |
happen. In Westminster, the Prime Minister David Cameron address the | :08:29. | :08:31. | |
Commons as part of a broader debate and this is what happened. The | :08:32. | :08:38. | |
British people have voted to leave the European Union, it was not the | :08:39. | :08:42. | |
result or out, I wanted or think is best for the country I love. But | :08:43. | :08:47. | |
there can be no doubt about the result. I do not take back what I | :08:48. | :08:51. | |
said about risks, it will be difficult, but will be adjustments | :08:52. | :08:55. | |
in the economy, complex constitutional issues, and | :08:56. | :09:01. | |
challenging negotiations to do with Europe. But me in the Cabinet are | :09:02. | :09:04. | |
clear that the decision must be accepted and the process of | :09:05. | :09:07. | |
implementing the decision in the best possible way must now begin. | :09:08. | :09:14. | |
Many people feel disenfranchised and powerless. Especially in parts of | :09:15. | :09:18. | |
the country that have been left behind for too long. Communities, Mr | :09:19. | :09:27. | |
Speaker, that have been let down, not by the European Union but by | :09:28. | :09:34. | |
Tory governments. Those communities do not trust politicians to deliver | :09:35. | :09:39. | |
because for too long they have not. In Scotland we are being told from | :09:40. | :09:43. | |
majority against weaving, we are majority against weaving, we are | :09:44. | :09:48. | |
going to have to do is we are told and we will be taken out of Europe | :09:49. | :09:53. | |
against our will. Mr Speaker, let me tell the House and are friends | :09:54. | :09:58. | |
across Europe, we have no intention whatsoever of seeing Scotland taken | :09:59. | :10:08. | |
out of Europe. That would be totally democratically unacceptable. We are | :10:09. | :10:13. | |
European country and we will stay at European country and if that means | :10:14. | :10:17. | |
we have to have another independence referendum to protect Scotland then | :10:18. | :10:23. | |
so be it. Could I have skin to say today, and to condemn very clearly, | :10:24. | :10:30. | |
those people who are implying that decent people all over this country | :10:31. | :10:34. | |
who voted to leave the European Union are somehow closet racists. | :10:35. | :10:42. | |
Can I urge him to look at broader arrangements to build a wider | :10:43. | :10:47. | |
consensus, setting up a joint Committee of both Houses of | :10:48. | :10:51. | |
Parliament, cross-party, to look at wider arrangements and involve | :10:52. | :10:55. | |
people from all across the country in the negotiations about our future | :10:56. | :11:01. | |
Britain with the EU. Britain feels divided now and we have a | :11:02. | :11:05. | |
responsibility to build a new consensus for the future. Ben Brown | :11:06. | :11:11. | |
live from Westminster. We did not hear from the Prime Minister and | :11:12. | :11:15. | |
Chancellor over the weekend. There was talk of a power vacuum in | :11:16. | :11:19. | |
Westminster. The David Cameron address that today? I think he did | :11:20. | :11:25. | |
and he tried to be calm about the whole Brexit result, not the result | :11:26. | :11:33. | |
that he wanted he said, but the process towards leaving the European | :11:34. | :11:38. | |
Union will be far from plain sailing although the British economy is | :11:39. | :11:42. | |
strong. That was also the message from George Osborne, the chance of | :11:43. | :11:48. | |
big checker. He made some remarks at 7am before the markets opened. Some | :11:49. | :11:53. | |
people are calling it Project Reassurance. He was trying to say | :11:54. | :11:59. | |
that the British economy is strong and they can withstand whatever | :12:00. | :12:05. | |
storms lie ahead, but since then the pound has fallen to its lowest level | :12:06. | :12:10. | |
against the dollar for 31 years, the credit rating has been downgraded | :12:11. | :12:19. | |
for the UK, and on top of the fallout of the referendum results | :12:20. | :12:22. | |
there is a political crisis at Westminster and build parties | :12:23. | :12:27. | |
because the Conservative Party are looking for a new leader, | :12:28. | :12:31. | |
nominations open on Wednesday, and the Labour Party as we will see | :12:32. | :12:45. | |
later on, there are a lot of people calling for Jeremy Corbyn to go and | :12:46. | :12:50. | |
be a leadership election thereto. We know that Hilary Benn was sacked and | :12:51. | :12:59. | |
Lucy decided to go. Owen Smith also resigned. Angela Eagle went today. I | :13:00. | :13:05. | |
don't think we could call what was happening in the Labour Party | :13:06. | :13:08. | |
unusual scene. Angela Eagle was unusual scene. Angela Eagle was | :13:09. | :13:14. | |
almost in tears as she resigned. Huge emotions here. In the last hour | :13:15. | :13:22. | |
at Westminster we had a meeting of the Parliamentary Labour Party | :13:23. | :13:25. | |
inside the Palace of Westminster. Lots of Jeremy Corbyn's MPs were | :13:26. | :13:28. | |
telling him to step down and that he telling him to step down and that he | :13:29. | :13:32. | |
was not good enough to be a leader, but outside some left-wing members | :13:33. | :13:36. | |
of the grassroots organisation of the grassroots organisation | :13:37. | :13:39. | |
Momentum, that supports the Labour leader, saying he should not resign. | :13:40. | :13:44. | |
He went out and spoke to them. He did not speak directly about his | :13:45. | :13:47. | |
leadership or the referendum results very much, but John MacDonald who is | :13:48. | :13:52. | |
his right-hand man and long-time friends and allies said to the rally | :13:53. | :14:01. | |
outside Parliament, let me make it clear, Jeremy Corbyn is not | :14:02. | :14:06. | |
resigning and we are not going anywhere. There is a crisis in the | :14:07. | :14:10. | |
Labour Party, the main opposition party. Jeremy Corbyn may have the | :14:11. | :14:15. | |
support of members in the country, but certainly lots of his MPs and | :14:16. | :14:20. | |
most senior MPs want him to stand down. Thank you for joining us live | :14:21. | :14:28. | |
from Westminster. He will be back later, so if you have questions | :14:29. | :14:31. | |
about what is happening you can use our hashtag. One man is saying why | :14:32. | :14:38. | |
is the pound being down against the dollar but not reporting the pound | :14:39. | :14:42. | |
to your old relationship. I think they are both relevant but the | :14:43. | :14:45. | |
reason we are reporting the ball against the dollar is striking, | :14:46. | :14:50. | |
bigger than that against the Euro. The pound is at 831 year low. One of | :14:51. | :14:58. | |
the top credit rating agencies just downgraded the UK's AAA rating. | :14:59. | :15:07. | |
We're going to talk to them about why they have taken that decision in | :15:08. | :15:08. | |
a couple of minutes. Welcome back to Brussels. I next to | :15:09. | :16:29. | |
the European Commission and our lead story here from the BBC is that the | :16:30. | :16:33. | |
leaders of France, Italy and Germany have met today to discuss the UK's | :16:34. | :16:37. | |
plans to leave the European Union. The express regret but also said | :16:38. | :16:41. | |
they are committed to the EU project. Some of the main stories | :16:42. | :16:50. | |
from BBC World Service. The radio has been covering the elections in | :16:51. | :16:55. | |
Spain. The Prime Minister is preparing to start college in talks. | :16:56. | :16:58. | |
His party won the largest number of seats but failed to secure an high | :16:59. | :17:06. | |
rate majority. Israel and Turkey have reached an agreement to | :17:07. | :17:09. | |
normalise their relationship after normalise their relationship after | :17:10. | :17:11. | |
the six-year rest. Ties were ruptured when Israel raided a | :17:12. | :17:17. | |
Turkish vehicle that was taking aid to people in Gaza. Nessie has | :17:18. | :17:25. | |
decided to retire from football. He was on losing sites in a major final | :17:26. | :17:30. | |
when Argentina went down against Chilean penalties. We can talk about | :17:31. | :17:40. | |
the business side of the story of the UK leaving the European Union. | :17:41. | :17:47. | |
The credit in the -- the credit rating agency S has downgraded the | :17:48. | :17:59. | |
UK's credit rating from AAA to AA. It says that the decision will | :18:00. | :18:03. | |
weaken the predictability, stability and effectiveness of policy-making | :18:04. | :18:11. | |
in the UK. We can bring in the chief ratings officer at the agency. Thank | :18:12. | :18:14. | |
you for your time. Why did you you for your time. Why did you | :18:15. | :18:21. | |
choose to announce this today? We announced that because we had a | :18:22. | :18:23. | |
referendum on Thursday where the outcome was released on Friday and | :18:24. | :18:29. | |
this has changed our view on how we assess the institutional framework | :18:30. | :18:33. | |
under which policy-making takes place in the UK. This is reflecting | :18:34. | :18:39. | |
the new information that came in late last week and that is why be | :18:40. | :18:45. | |
published today. Do you think that some of the difficulties I just | :18:46. | :18:48. | |
lifted being short or medium-term problems rather than fundamental | :18:49. | :18:55. | |
problems? They are a medium to longer term but also fundamental. | :18:56. | :19:05. | |
When you are assessing sovereign risk it depends how decisions are | :19:06. | :19:09. | |
made, it is the political institutions that decide how an | :19:10. | :19:14. | |
economy can react to certain challenges that they might be facing | :19:15. | :19:18. | |
economically or otherwise. What we learnt last week, to our surprise | :19:19. | :19:25. | |
and many others, is that the predictability of policy-making in | :19:26. | :19:30. | |
the UK is not what we believed it was. It is difficult going forward | :19:31. | :19:35. | |
to come to the view that the effectiveness and transparency and | :19:36. | :19:37. | |
stability of policy-making in the UK is still among the best in the world | :19:38. | :19:42. | |
and that is why we reassessed our view on that and we no longer think | :19:43. | :19:49. | |
that the institutions are a strength on the credit file of the UK. You | :19:50. | :19:54. | |
will be aware that when you make an announcement like this there are | :19:55. | :19:58. | |
political consequences and economic consequences, it makes it harder to | :19:59. | :20:03. | |
borrow money. Do you consider those consequences when you are producing | :20:04. | :20:07. | |
a rating? Our role as a rating agencies to inform investors in a | :20:08. | :20:20. | |
non-biased way. This may be a good moment to remind everyone that the | :20:21. | :20:26. | |
rating has gone from AA to AAA. That is still a very high rating, it is a | :20:27. | :20:36. | |
matter of shades of grey. We thank all things considered that the | :20:37. | :20:43. | |
decision to leave the European Union raises so many uncertainties that we | :20:44. | :20:48. | |
think that the risks to investors have increased. Thank you for | :20:49. | :20:56. | |
explaining your thinking on that. We can highlight a couple of the | :20:57. | :21:00. | |
elements of the financial fallout from the boat to leave the European | :21:01. | :21:05. | |
Union. The pound has hit a 31 year low against the dollar, down by | :21:06. | :21:11. | |
3.6%, down 11% since the vote was announced. The FTSE 250, which | :21:12. | :21:17. | |
merely contains companies that are UK focus, it has seen falls | :21:18. | :21:23. | |
particularly on Friday it not seem since the 1980s. That meant people | :21:24. | :21:31. | |
wanted to hear from the Chancellor of the Exchequer, George Osborne, | :21:32. | :21:35. | |
the man in charge of the economy. Early in the morning he gave this | :21:36. | :21:40. | |
statement. It will not be plain sailing in the days ahead. You | :21:41. | :21:45. | |
should not underestimate our resolve. We were prepared for the | :21:46. | :21:50. | |
unexpected and we are equipped for whatever happens. We are determined | :21:51. | :21:57. | |
that unlike it years ago, Britain's financial system will help our | :21:58. | :22:02. | |
country deal with any shocks and dampen them, not contributed those | :22:03. | :22:08. | |
shocks or make them worse. When you look at all these things, depending | :22:09. | :22:12. | |
on who you are you get different cancers as to how serious this | :22:13. | :22:19. | |
financial response to Brexit is. -- different cancers. The people you're | :22:20. | :22:28. | |
talking to, how do they describe it? I have spent all day at their stock | :22:29. | :22:34. | |
exchange on Wall Street. I'm speaking to investors and traders | :22:35. | :22:41. | |
here. On Friday there was a lot of shock and use that reflected in the | :22:42. | :22:45. | |
shop has subsided but today there shop has subsided but today there | :22:46. | :22:52. | |
are still so many unknown is an unanswered questions. -- the shock. | :22:53. | :22:58. | |
What is Britain look like and what is the framework? As a result of | :22:59. | :23:02. | |
those questions you are seeing a lot of uncertainty on US markets. The | :23:03. | :23:08. | |
markets have just closed 15-20 minutes ago and they are down again | :23:09. | :23:11. | |
on the different indices. It is a on the different indices. It is a | :23:12. | :23:19. | |
sense that investors are searching for and so is that I'm not been made | :23:20. | :23:25. | |
very clear because of the political turbulence you mentioned. Thank you. | :23:26. | :23:32. | |
A few minutes ago I was talking to the SNP. -- I was starting to SNP. | :23:33. | :23:45. | |
-- I was talking to death and P. There is a warning that could be | :23:46. | :23:49. | |
more downgrades. Lots of you are sending in messages. We will get | :23:50. | :23:59. | |
into this life Westminster so if you have any questions about any | :24:00. | :24:02. | |
elements of the Brexit story you are welcome to get in touch. Some people | :24:03. | :24:07. | |
are asking about the crisis in the Labour Party and how that might end | :24:08. | :24:12. | |
up. Others are asking about the border between Northern Ireland and | :24:13. | :24:16. | |
the Republic of Ireland. There are a lot of questions and I cannot | :24:17. | :24:18. | |
promise you an answer for all of promise you an answer for all of | :24:19. | :24:25. | |
them but I will do my best with the experts. | :24:26. | :24:30. |