AuthorTopic: TTIP tensions escalate in email exchange between EU, US  (Read 2125 times)

Offline Palloy

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TTIP tensions escalate in email exchange between EU, US
« on: May 30, 2016, 05:43:08 PM »
Greenpeace received a 248-page leak of TTIP documents this month.
Now a leak to politico.eu by someone at the Ambassadorial level shows the TTIP is coming apart at the seams.

http://www.greenpeace.org/eu-unit/en/News/2016/TTIPleaks-confidential-TTIP-papers-unveil-US-position/
#TTIPleaks: confidential TTIP papers unveil US position
Leaked text shows attempts to undermine EU environment and health protection laws
Brussels, 1 May 2016

Greenpeace Netherlands has obtained 248 pages of leaked Transatlantic Trade and Investment Partnership (TTIP) negotiating texts [1], which will be published on Monday 2 May at 11:00 CET. The documents unveil for the first time the US position and deliberate attempts to change the EU democratic legislative process.

The classified documents represent more than two-thirds of the overall TTIP text as of April, at the 13th round of TTIP negotiations in New York. They cover 13 chapters addressing issues ranging from telecommunications to regulatory cooperation, from pesticides, food and agriculture to trade barriers.

Jorgo Riss, director of Greenpeace EU, said: “These leaked documents confirm what we have been saying for a long time: TTIP would put corporations at the centre of policy-making, to the detriment of environment and public health. We have known that the EU position was bad, now we see the US position is even worse. A compromise between the two would be unacceptable.”

Greenpeace identified four main issues of concern:

Long standing environmental protection is dropped

The “General Exceptions” rule, enshrined in the GATT agreement of the World Trade Organisation (WTO), is absent from the text. This nearly 70-year-old rule allows nations to restrict trade “to protect human, animal and plant life or health", or for "the conservation of exhaustible natural resources" [2].             

No place for climate protection in TTIP

If the goals of the Paris Summit to keep temperatures increase under 1.5 degrees are to be met, trade should not be excluded from CO2 emissions reduction specifications. But nothing about climate protection can be found in the obtained texts.

Precautionary principle is forgotten

The US wants the EU to replace the EU’s hazard approach with ‘risk management’, disregarding the precautionary principle, [3] which is enshrined in the EU Treaty but is never mentioned in the consolidated text.

Open door for corporate lobbying

The leaked documents suggest that both parties consider giving corporations much wider access and participation in decision making.

Jorgo Riss said: “The effects of TTIP would be initially subtle but ultimately devastating. It would lead to European laws being judged on their consequences for trade and investment – disregarding environmental protection and public health concerns.”



https://www.rt.com/news/344877-us-eu-ttip-emails/
TTIP tensions escalate in email exchange between EU, US – report
30 May, 2016

As the US and EU continue to secretly debate the controversial Transatlantic Trade and Investment Partnership (TTIP), talks aren’t only taking place behind closed doors. Frustrations are also being aired online, according to emails obtained by Politico.

An email sent on Friday and obtained by the website shows the European Commission warning the 28 EU ambassadors in Brussels that there will be no TTIP deal unless Washington changes its approach to negotiations.


Leaked to politico.eu

The document focuses on agriculture, one of the most contentious of the 27 chapters currently under negotiation in TTIP talks.

The email expresses the Commission’s concern that “the EU has not seen substantial progress in areas of significant importance to EU agriculture, such as geographical indications, wine and non-tariff barriers.”

It goes on to state that “the US Administration does not yet seem to be in a place where it can reciprocate the EU’s efforts in TTIP and to start delivering on matters of EU interest.”

The email, written from the office of European Agriculture Commissioner Phil Hogan, was agreed upon by several Commission departments, and President Jean-Claude Juncker’s office was aware of it being sent to the EU ambassadors, according to separate emails seen by Politico.

Friday’ email came in response to what the Commission referred to as a “somewhat unusual email correspondence” received on Wednesday from Washington’s ambassador to the EU, Anthony Gardner, that criticized Hogan for making a “series of misleading statements in the press” with a list of the remarks.

In a somewhat ironic statement considering the now public nature of his email, Gardner also said that “while differences of opinion are natural, especially on tough issues like agriculture, they should be aired privately, rather than in the public arena.”

He went on to express Washington’s position that “EU tariffs are 2-3 times as high as US tariffs and EU non-tariff barriers have virtually eliminated many of our key exports.”

However, an internal Commission briefing shared with EU ambassadors and obtained by Politico shows that the European Union has its own concerns over the possible removal of tariffs.

The document cites “substantial gains for US agriculture if tariffs and some non-tariff barriers are fully removed by the EU side. In the applied scenarios the US is a clear winner in trade in agricultural products in TTIP.”

The TTIP has been controversial since it was first proposed. Backers, including US President Barack Obama, stress that it would create the world’s largest free-trade zone, claiming the more integrated marketplace would help small businesses by opening up markets and making customs processes easier. They also say it would reduce trade tariffs on products.

However, many Europeans say the TTIP would place corporate interest above national interest, stressing that international corporations would be given power at the expense of small and medium-sized businesses. The secrecy surrounding the talks has also come under fierce criticism.

In order for the TTIP to come into force, all 28 EU member states and the European Parliament would have to ratify it – a possibility which seems increasingly unlikely. Negotiations on the deal have so far consisted of 13 rounds of talks over the course of three years.
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Offline Palloy

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Re: TTIP tensions escalate in email exchange between EU, US
« Reply #1 on: May 30, 2016, 06:17:22 PM »
More US-EU tensions, US-US corporate investors tensions, and EU-EU state tensions.   :o

https://www.rt.com/business/344807-juncker-russia-economic-forum/
EU Commission president to visit Russia despite resistance from Washington & Brussels
30 May, 2016

EU Commission President Jean-Claude Juncker plans to visit Russia on June 16, during the St. Petersburg International Economic Forum, Reuters reports, citing his spokesperson.

The Commission president would be the first leader of an EU institution to visit Russia since sanctions were imposed in March 2014 over the conflict in Ukraine.

Juncker is facing growing resistance over the trip from the US and some European countries, and even among his own staff, according to media reports.

Unnamed diplomatic sources told American magazine Politico the US fear Juncker’s visit would strengthen Russian President Vladimir Putin’s position before a crucial decision on renewing economic sanctions against Moscow.

The EU is expected to automatically prolong sanctions against Russia in July, despite a call from some European policymakers and business leaders to review the policy. They point out that sanctions against Moscow have proven politically ineffective and economically harmful for both Russia and European countries.

Juncker's aides have reportedly said the Commission president plans to go, although the trip to St. Petersburg is not on his official schedule, and his name is yet to appear on the event's official program.

“He is invited and is expected to attend, but we only confirm his agenda a week ahead because it changes so much,” a Commission spokeswoman told Politico magazine in an emailed statement.

“We certainly welcome such readiness for dialogue. President Putin has repeatedly stressed the importance to maintain and extend such dialogue,” presidential aid Dmitry Peskov told media on Monday.

According to the Russian Embassy in Washington, major US investors will take part in the St. Petersburg International Economic Forum (SPIEF) this June, despite US government objections. Last year, SPIEF was attended by PwC, Boston Consulting, Schlumberger, Intel, ExxonMobil, Boeing and other American companies. In 2015, the forum saw 205 agreements, memorandums and contracts signed, with a total worth of $4.5 billion.

The annual St Petersburg International Economic Forum will be held on June 16-18. This year’s theme is ‘Capitalizing on the New Global Economic Reality’.
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Offline Palloy

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Re: TTIP tensions escalate in email exchange between EU, US
« Reply #2 on: May 30, 2016, 06:23:00 PM »
No tensions here - until the US tries to block it.

https://www.rt.com/business/344858-eib-brics-cooperation-/
European Investment Bank seeks cooperation with BRICS bank
Published time: 30 May, 2016

The European Investment Bank (EIB) is ready to sign a cooperation agreement with the BRICS’ New Development Bank, EIB President Werner Hoyer told RIA Novosti.

On Monday, EIB and the Asian Infrastructure Investment Bank (AIIB) agreed to broaden cooperation to support investment in “strategically important projects.”

“We hope to reach such an agreement with NDB [New Development Bank] soon… We are always open for that,” said Hoyer.

Speaking at a news conference at the EU Embassy in China, he also expressed hopes for productive cooperation between AIIB and the BRICS bank, along the same lines as “the European Investment Bank had with the World Bank on some concrete projects.”

Hoyer said there is no rivalry among the AIIB, NDB, EIB and the World Bank, as they are complimentary. “We need each other because investment projects, particularly those regarding construction of infrastructure objects are so huge that no one of us could deal with it alone. That’s why we should work with each other, and we do it very well,” the official said.

The EIB is the long-term lending institution of the European Union owned by its 28 member states. It provides low-interest loans for projects aimed at improving infrastructure, energy supply, and environmental protection in Europe and developing countries.

The New Development Bank created by Brazil, Russia, India, China and South Africa started in July 2015 with initial authorized capital of $100 billion. The goal of the bank, headquartered in Shanghai, is to fund infrastructure projects in emerging economies for sustainable development.

Last month, the BRICS bank approved its first package of loans. The $811 million investment will be directed at renewable energy projects in Brazil, China, South Africa and India. The bank estimates the renewable energy field projects with a combined capacity of 2.37MW can help reduce harmful emissions by four million tons annually.
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Offline Palloy

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Re: TTIP tensions escalate in email exchange between EU, US
« Reply #3 on: May 31, 2016, 12:39:39 AM »
https://www.rt.com/news/344886-eu-tusk-union-illusion/
‘Specter of break-up haunting Europe’: EU chief Tusk blasts ‘illusions’ of bloc’s unity
31 May, 2016

European Council President Donald Tusk has sounded the alarm, warning that Eurosceptic movements are gaining momentum in the EU because the dream of a federation-like union being pushed by EU leaders is out of touch with the views of ordinary Europeans.

“The specter of a break-up is haunting Europe. A vision of a federation doesn’t seem to me like the best answer to it,” Tusk said at a meeting of the European People’s Party, the biggest bloc in the European Parliament, Reuter reported.

Addressing fellow EU leaders, including German Chancellor Angela Merkel and EU chief executive Jean-Claude Juncker, Tusk took a shot at the idea, popular among EU conservatives, of creating a more federalized Europe. European leaders who pursue what Tusk called utopian “illusions” are not in tune with their own peoples,’ who do not share their “Euro-enthusiasm.”

“Obsessed with the idea of instant and total integration, we failed to notice that ordinary people, the citizens of Europe, do not share our Euro-enthusiasm. Disillusioned with the great visions of the future, they demand that we cope with the present reality better than we have been doing until now ... Euroscepticism [has] become an alternative to those illusions.”

“It is us who today are responsible for confronting reality with all kinds of utopias – a utopia of Europe without nation states, a utopia of Europe without conflicting interests and ambitions, a utopia of Europe imposing its own values on the external world,” the former Polish prime minister said.

As European Council president, Tusk said that it was time for “an honest and open debate on the subject.”

Speaking just a month before a British referendum on whether to stay in the bloc, Tusk called the possibility of a “Leave” vote a risk to the European Union, pointing out that the Brexit debate has been mostly focused on fears that greater EU integration means a loss of sovereignty for the UK.

British Prime Minister David Cameron has called a referendum to decide whether Britain should leave the 28-nation European Union, which is to be held on June 23.
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Offline agelbert

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Re: TTIP tensions escalate in email exchange between EU, US
« Reply #4 on: May 31, 2016, 12:51:43 PM »
The accurate news items Palloy just presented evidence the rank corruption and brain dead, biosphere math challenged stupidity of the oligarchic profit over people and planet assholes destroying any and all chances that future generations have to inherit a viable biosphere.

So it goes. Everybody knows.   



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Offline Palloy

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Re: TTIP tensions escalate in email exchange between EU, US
« Reply #5 on: May 31, 2016, 03:47:05 PM »
Travel advisories are another tool to raise tensions.  EU could equally validly issue a travel advisory against visiting the US, but it is always the US that does it first.

https://www.rt.com/usa/344968-state-department-europe-advisory/
Keep out: State Dept urges Americans not to visit Europe
31 May, 2016

Europe is not the place to be for American tourists this summer, according to the State Department. A travel advisory warns US citizens there is a risk of terrorist attacks on tourist sites and major events in the Old World until the end of August.

Though no specific threat was named, many European countries have already suffered attacks connected to the so-called Islamic State (IS, formerly ISIS/ISIL). In Belgium, 32 people were killed and 340 injured in the March 22 bombings at the airport in Zaventem and a downtown Brussels metro station.

France is still under the state of emergency declared last November, when terrorists killed 130 and injured 368 in a series of attacks in Paris.

In the advisory issued Tuesday morning, the State Department alerted US citizens “to the risk of potential terrorist attacks throughout Europe, targeting major events, tourist sites, restaurants, commercial centers and transportation.”

“The large number of tourists visiting Europe in the summer months will present greater targets for terrorists planning attacks in public locations, especially at large events,” the warning said.

France and Poland were singled out in the advisory, due to events drawing large crowds of people. The State Department specifically named the July 2-24 Tour de France cycling race, and the European soccer championships, scheduled from June 10 to July 10 at venues across France.

Poland is imposing additional border controls and security measures between July 4 and August 2. The Eastern European country is expecting up to 2.5 million people in Krakow for the Roman Catholic Church’s World Youth Day events, scheduled for July 26-31.

US citizens should be aware that the “local infrastructure may be strained due to the large number of visitors,” the State Department said.

Americans were also urged to avoid crowds, “exercise vigilance when in public places or using mass transportation,” and be prepared for additional security measures and “unexpected disruptions.”

The travel advisory expires on August 31.

“Last year before the terror attacks began, the US also issued a warning. That warning in the report was actually bluntly ignored by most of the countries in Europe. So this comes as no surprise that they’ve made this announcement. And, of course, they’re concerned that the security forces as a whole is not paying attention to the growing threat of ISIL,” Ricardo Baretzky of the European Center for Information policy and Security told RT.

Baretzky says that besides the Euro 2016 in France, Europe has become unstable due to growing protest movements, which also plays into the hands of terrorists.

“There is a lot of things happening at the moment. We have also seen instability movements happening across Europe: we see the riots in France, we see the riots in Brussels today, a few weeks ago in Berlin. So, there’s a growing movement on the ground. There are two factors of risk: the one – security risk of external threats and the risk from internal threats. So, both factors is a dangerous situation in this point of time,” Baretzky said.
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Offline RE

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Brexit could eventually lead to downfall of Western civilisation
« Reply #6 on: June 13, 2016, 06:21:30 PM »
BIG Fear Mongering!

RE

http://www.theguardian.com/politics/live/2016/jun/13/eu-referendum-live-labour-remain-campaign-final-10-days-vote

EU referendum live: Brexit could eventually lead to downfall of Western civilisation, says EU chief

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Offline RE

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Brit Labour MP Assassinated
« Reply #7 on: June 16, 2016, 10:41:15 AM »
A "Lone Gunman" a week before the Brexit vote?  Why do I have a problem with this narrative?  :icon_scratch:

RE

http://www.usatoday.com/story/news/2016/06/16/british-mp-shot-stabbed-english-village/85974954/

British MP dies after shooting attack on village street
Doug Stanglin, USA TODAY 1:26 p.m. EDT June 16, 2016

Jo Cox, a British member of parliament was in critical condition after being shot and stabbed in her constituency in northern England on Thursday. The 41-year-old Labour Party lawmaker was attacked as she prepared for a meeting with constituents in USA TODAY
Jo Cox, Labour MP

(Photo: Yui Mok, AP)

Jo Cox, a Labour member of the British parliament, died Thursday after being shot repeatedly on the street in a village in northern England where she was meeting with local constituents.

The 41-year-old mother of two was left bleeding on the pavement in Birstall, 200 miles north of London. She was airlifted to a local hospital where she died about an hour after the shooting. A 77-year-old man was injured in the incident.

Police arrested a 52 year-old local man identified as Tommy Mair, the Yorkshire Evening Post post reports. Neighbors were quoted as describing him as a "loner."

Police said they believe the shooting was a “lone incident” and are not looking for anyone else in connection with the attack, the Associated Press reports.

Clarke Rothwell, who runs a cafe near the murder scene, told the Press Association the assailant "was shouting 'put Britain first'. He shouted it about two or three times. He said it before he shot her and after he shot her."

Britain First, which is the name of a far-Right group, said on its website that it was "not involved and would never encourage behaviour of this sort," the AP reported.

Rothwell said the gunman, who was wearing a white baseball cap and a jacket, fired three shots, the final one at her head. He described the weapon as an "old fashioned-looking" hand gun. Rothwell also told the BBC that he believed the attacker also stabbed her multiple times.

Violence against politicians is rare in Britain, as are gun attacks, and figures from all parts of the political spectrum expressed deep shock.

Both the Vote Leave and Britain Stronger in Europe campaigns suspended activity ahead of next week’s vote over whether Britain should remain a part of the 28-member bloc at the news.

The rival sides in the referendum have been canvassing feverishly ahead of what is expected to be a close vote and Cox had been campaigning for the “remain” camp.

It wasn’t clear if the attack on her was linked to the EU debate or whether Cox had been deliberately targeted.

No serving U.K. member of Parliament has been killed since 1990, when the Irish Republican Army killed Conservative lawmaker Ian Gow with a booby-trap bomb placed under his car outside his English home. A former lawmaker, Donald Kaberry, was injured in an IRA bombing in 1990 and died the next year.

Copx has been one of the most outspoken lawmakers on the subject of the Syrian civil war, and has been critical of Britain’s reluctance to deepen its military involvement against the Islamic State group as part of efforts to end it.

Prime Minister David Cameron said he was cancelling a planned speech in Gibraltar after “the terrible attack.”

“Our thoughts and prayers are with Jo and her family,” Cameron tweeted
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Offline RE

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Re: Brit Labour MP Assassinated
« Reply #8 on: June 16, 2016, 10:59:16 AM »
More from ZH

RE

http://www.zerohedge.com/news/2016-06-16/british-labor-mp-jo-cox-shot-and-stabbed-assailant-who-allegedly-shouting-britain-fi
Brexit Campaigns Suspended After British Lawmaker Shot Dead By Mentally Ill Assailant

by Tyler Durden - Jun 16, 2016 10:25 AM

Update: The West Yorkshire Police reports that Jo Cox has died as a result of her injuries. The police also adds that a full probe is under way to establish motive. It remains to be seen if the Brexit referendum vote will be delayed as a result of this death.

Update: 52-year-old man arrested after Labour MP Jo Cox was shot in street outside her constituency surgery has been named as Tommy Mair.  A brief public data history search reveals that Mair had psychological problems:

    Thomas Mair, 46, started volunteering at the park after learning about the opportunity through the Mirfield-based Pathways Day Centre for adults with mental health problems.  He said: "I can honestly say it has done me more good than all the psychotherapy and medication in the world. "Many people who suffer from mental illness are socially isolated and disconnected from society, feelings of worthlessness are also common mainly caused by long-term unemployment.

     

    "All these problems are alleviated by doing voluntary work. Getting out of the house and meeting new people is a good thing, but more important in my view is doing physically demanding and useful labour.

     

    "When you have finished there is a feeling of achievement which is emotionally rewarding and psychologically fulfilling.

     

    "For people for whom full-time, paid employment is not possible for a variety of reasons, voluntary work offers a socially positive and therapeutic alternative."

* * *

Update: Responding to unconfirmed allegations the shooter shouted "Britain First!" before the incident, the group Britain First has said:

    A single eyewitness also claimed (unconfirmed) that the assailant “apparently” shouted “Britain First” during the attack, but this is pure hearsay at the moment.

     

    There is LOTS of use of words such as “apparently” and “allegedly”.

     

    That hasn’t stopped the media publishing multiple articles condemning Britain First for somehow being involved.

     

    Britain First obviously is NOT involved and would never encourage behaviour of this sort.

     

    As an MP and and a mother, we pray that Jo Cox makes a full recovery.

* * *

Update:  As BBG adds, campaigning was suspended in Britain’s European Union membership referendum after news of the attack, which happened just before 1 p.m., came out.

* * *

Update: Here is a photo of Jo Cox' assailant getting arrested. As SkyNews adds, "West Yorkshire Police said a 52-year-old man was arrested in connection with the attack, which happened near the town's library. Witness Hichem Ben Abdallah said a man "was kicking her as she was lying on the floor." He said that after a bystander intervened, the attacker produced a gun, stepped back and shot her twice."

 

* * *

With tensions in the UK already running high ahead of next week's historic Brexit vote, moments ago the Guardian reported that Jo Cox, the MP for Batley and Spen, was in critical condition after she was shot and stabbed in her West Yorkshire constituency.  The Labour politician was injured in the attack and there is an ongoing police operation in the area, a witness told the Press Association.  It is unclear who the assailant was or the motive.


Jo Cox, the Labour MP for Batley and Spen

The following statement has been released from West Yorkshire Police:

    "At 12.53 today, police were called to a report of an incident on Market Street, Birstall, where a woman in her 40s had suffered serious injuries and is in a critical condition. A man in his late 40s to early 50s nearby also suffered slight injuries.

     

    Armed officers attended and a 52-year-old man was arrested in the area. There are no further details at present. Police presence in the area has been increased as a reassurance to the community."

The Labour Party have released the following statement:

    "We're aware of the incident that happened this afternoon. All our thoughts are with Jo Cox and her family. We cannot give any further updates at this time."

Armed officers are reportedly on the scene in Birstall, near Dewsbury, West Yorkshire. West Yorkshire police said in a tweet: “We are aware of a serious incident ongoing in Birstall. Details will be released in the press in due course.”

The attack reportedly took place near the town’s library, where the MP holds advice surgeries. Yorkshire ambulance service said it was aware of an incident but had no further information.  According to a Labour source, Cox was shot and stabbed after she had conducted her morning surgery for constituents.

Another person, who has not been identified, was also injured and both were taken to hospital, the source said. The attack was said to have taken place sometime after 1pm.

The whole incident lasted about 15 to 20 minutes according to witness Mr Abdallah, and another bystander told him Ms Cox had also been stabbed.

He added: "He was kicking her and he was pulling her by her hair. A very courageous man from the dry cleaners tried to restrain him and he couldn't stop him because all of a sudden he pulled a gun. She was a standing still target for him when he shot her."

Witness Clarke Rothwell told BBC News said there was an altercation between a man carrying a gun and Cox. He purposefully targeted her, said Rothwell, who runs the cafe next to the library where the incident took place.

“He shot this lady and then shot her again,” he said. “He lent down. Someone was wrestling with him and he was wielding a knife and lunging at her. Three times she was shot. People were trying to help her. Then he ran off down a one-way street. Me and my mate drove round to try and find him.”

 

According to Sky News, which cites a witness: "All of a sudden this guy in the baseball cap pulled  a gun. It looked like a gun from the First World War, or a handmade gun. He fired the first shot. I  ran away, as everybody else did. All of a sudden we heard the second shot."

More witness reports via Sky News:

Witness: "Her legs were in aid triangular way, like someone on a  bed. She was leaning a bit on the left-hand side, with her hair at the  back. Everybody was crying, the women. I'm absolutely shocked"

Witness: "All of a sudden we heard the second shot. Obviously, we remained in the restaurant for a couple of minutes. Then we decided to venture out and see what had happened. hen we went out and at first I didn't recognise that it was Jo. A lady was on the  floor, her face bleeding.

Witness: "She is still alive, I presume she's still alive We believe she is still alive but her condition has been described as serious. She looked as though she was still breathing."

Was Brexit a motive? Sky says that according to a witness report, the assailant shouted "Britain First".

It appears the assailant may have been caught.
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Offline RE

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THANK GOD THAT MP WAS ASSASSINATED!  BREXIT CHANCES NOW REDUCED!

This after a straight week where the polls were indicating increased support for Brexit.  ::)

WHAT TIMING!  THANK GOD THOSE PSYCHOS GO NUTS RIGHT WHEN YOU NEED THEM!

RE

http://www.reuters.com/article/us-global-markets-idUSKCN0Z3020


Markets | Fri Jun 17, 2016 2:19am EDT
Asian shares face weekly losses, sterling steadies as Brexit risk seen ebbing
SINGAPORE/TOKYO | By Nichola Saminather and Lisa Twaronite


A man walks in front of a screen showing today's movements of Nikkei share average outside a brokerage in Tokyo, Japan, June 2, 2016.
Reuters/Issei Kato

Asian shares rose on Friday but were set for weekly losses as investors favored safe haven assets because of fears that Britain will vote to quit the European Union, though the killing of a pro-EU politician was seen swaying sentiment toward the "Remain" camp.

European shares are also poised for a strong start, with financial spreadbetter IG expecting Britain's FTSE 100 to open 0.8 percent higher and Germany's DAX to start the day up 1.1 percent.

Campaigning for Thursday's referendum, which overshadowed this week's U.S. and Japanese central bank meetings, was temporarily halted after a British member of parliament, Jo Cox, was shot and fatally wounded on Thursday.
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The recently volatile pound rose 0.4 percent to $1.4255 with analysts noting the pro-membership MP's death could generate sentiment in favor of remaining in the EU.

MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.6 percent, but was down nearly 2.7 percent for the week.

China's CSI 300 index advanced 0.5 percent, and the Shanghai Composite added 0.4 percent. That helped them shrink losses for the week to 1.7 percent and 1.5 percent respectively.

Hong Kong's Hang Seng gained 0.5 percent, but is set for a weekly decline of 4.3 percent.

Wall Street marked gains overnight, with the benchmark S&P 500 index erasing sharp intra-day losses to snap a five-day losing streak.

"Investors are considering the risk of Brexit to have been lowered, both by reports that European hedge funds believe Brexit will not get up and, secondly, that the shooting (of Cox) has played against the Brexit vote," said Angus Gluskie, managing director of White Funds Management in Sydney.

Japan's Nikkei stock index closed up 1.1 percent, taking back some of its steep losses. But Japanese shares still shed more than 6 percent in a week in which the safe-haven yen soared after the Bank of Japan decided against delivering additional stimulus to counter waning inflation and weak global growth.

"Continued inaction by the BOJ in the face of these risks only reinforces the market's suspicions that the central bank is running out of policy options, feeding back into a stronger yen," HSBC economist Izumi Devalier said in a note.

Japanese Finance Minister Taro Aso said on Friday that he was deeply concerned about "one-sided, rapid and speculative moves" seen in the currency market and would respond if necessary to ensure stability in currencies.

The dollar clawed back some lost ground on Friday, rising 0.1 percent to 104.36 yen, but it was still down 2.4 percent for a week in which it dropped as low as 103.555. That was its deepest low since August 2014.

The dollar index, which tracks the greenback against a basket of six major peers, also slipped 0.1 percent, and is set for a weekly decline of the same magnitude.

The euro added 0.3 percent to 117.395 yen, but was still down 2.4 percent for the week. On Thursday, it plumbed a three-year low of 115.51.

The Federal Reserve also stood pat on policy on Wednesday, though it signaled it still planned to raise rates twice in 2016. But it also downgraded its economic view, and said slower growth would slow the pace of future monetary policy tightening.

Crude oil prices rose for the first time in seven days as Brexit concerns ebbed, after losses of almost 4 percent overnight.

U.S. crude rose almost 1 percent to $46.66 a barrel, and Brent crude climbed 1.4 percent to $47.85. Both recorded losses of about 10 percent over the previous six sessions. [O/R]

Gold also advanced 0.4 percent to $1,283.33 an ounce following wild swings overnight. Spot gold surged to a near-two-year high of $1,315.55, but closed down 2.8 percent from that level as markets bet on growing support for Britain to remain in the EU. It is set to rise 0.8 percent this week, its third consecutive weekly gain.

(Reporting by Lisa Twaronite and Nichola Saminather; Additional reporting by Caroline Valetkevitch; Editing by Simon Cameron-Moore and Eric Meijer
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Offline Palloy

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Re: TTIP tensions escalate in email exchange between EU, US
« Reply #10 on: June 17, 2016, 01:19:42 AM »
Nobody, least of all the Tokyoers, knows what the outcome of the Brexit vote is going to be, let alone whether it will be "swayed by the shooting", and nobody knows whether the British Government will even follow the advice of the referendum, or how long it will take to do so.

In the end the Pound only moved 0.4%, which is well within normal daily fluctuations.

Far more important was the doveish Fed's not raising rates, and the hawkish JCB not lowering them, catching out the carry trade based on USDJPY.  And then there is the sentiment of the Tokyoers, which nobody understands at all.
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