Matthew Lynn is a financial columnist and author of ‘Bust: Greece, The Euro and The Sovereign Debt Crisis’ and ‘The Long Depression: The Slump of 2008 to 2031’
The bankers would all move to Frankfurt. The hedge funds would all decamp to Zurich. The asset managers would be off to Paris and Dublin, and the lawyers, accountants and consultants would swiftly follow them. For much of the last four years since the UK voted to leave the European Union, it has been assumed
It might be a bit late, but the supply will come on tap eventually. France’s Sanofi has partnered with Pfizer to start manufacturing its vaccine. BioNTech has just bought a factory in Marburg, Germany from Switzerland’s drugs giant Novartis to retrofit into a vaccine plant. With plenty of money being splashed around, production will arrive
Valdis Dombrovskis could probably do without his moment in the limelight. His spell as prime minister of Latvia, a country with a population of 1.9 million, was largely successful, at least until the collapse of a supermarket roof in 2014 brought his coalition to an early end. Shunted off to Brussels, he worked quietly as
The German Army had to join a NATO exercise with broomsticks because they didn’t have any rifles. It’s special forces became a hotbed for right-wing extremism. Working mothers were meant to get federally-funded childcare, to help fix the country’s demographic collapse, but it never arrived, and the birth rate carried on falling. Every child was
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On this week’s episode, Kate Andrews says the challenges of Joe Biden’s administration go beyond governing. (00:35) Plus, Liam Kennedy explains the history of Irish-American identity. (09:25) Finally, Jeremy Clarke wonders why everyone is a log expert (18:20)
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Why has the vaccine rollout turned nasty? (00:45) What’s the sex abuse scandal rocking France’s elite? (16:55) Have artists run out of new ideas? (28:35) With Daily Telegraph columnist Matthew Lynn; science journalist and author of Pale Rider: The Spanish Flu of 1918 Laura Spinney; Spectator contributor Jonathan Miller; journalist Anne-Elisabeth Moutet; Dean Kissick, New York
Armed guards are patrolling the perimeter fence of a sleek factory. Software experts are fending off hackers. Border officials are checking trucks and ferries, not for weapons or illegal immigrants, but for a mysterious biochemical soup, while spies and spin doctors are feeding social media with scare stories flaming one national champion or another. Welcome
There are plenty of different ways in which Matt Hancock, the health secretary, can be criticised for his handling of the Covid-19 crisis. Track and trace didn’t work, lockdowns were sporadic and probably too late, and the messaging wobbled all over the place. But comparing the British vaccination drive to France and the rest of
As news emerges that both Pfizer and AstraZeneca are cutting supplies of their Covid-19 vaccines to the EU by up to 60 per cent, EU officials are turning on the drug companies, threatening fines and lawsuits if they don’t speed up deliveries. The Italian Prime Minister Giuseppe Conte has blasted the delays as unacceptable and
It is petty, small-minded, mean-spirited, and childish. It is certainly not difficult to think of a few adjectives to describe the UK’s decision to refuse diplomatic status to the European Union’s mission in London. Diplomats, and European ones in particular, take matters of status, protocol and etiquette very seriously, and the snub looks, on the
He took the European Union to the edge of a no-deal Brexit, creating logistical chaos on both sides of the Channel. His high-handedness and patronising manner hardened positions on both sides. And his brinkmanship clearly failed, leading to a far more distant relationship with the UK than might otherwise have been possible. It would be
Rewind a few months, and it was all meant to be very different. With Covid-19 rampant across the world, the European Union would take charge of sourcing vaccines from the major drugs companies. Its massive buying and regulatory power, coupled with its finely-tuned administrative machine, would make sure its 440 million people were protected from
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On this week’s episode, author and financial columnist Matthew Lynn begins by arguing that the EU has already botched its Covid vaccine rollout. (00:25) Then, Will Knowland, formerly an English teacher at Eton, explains why he was dismissed from the school and criticises its ‘stifling monoculture’. (08:20) And finally, Mary Wellesley reflects on the lives
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Coronavirus vaccines are now being distributed across the world, but what are the challenges posed by its delivery? (01:30) Is Boris Johnson the SNP’s greatest weapon? (13:55) And is Prince Harry becoming more and more like his mother? (23:35) With financial columnist Matthew Lynn; former director at the McKinsey Global Institute Richard Dobbs; the UK’s
The banks would all flee. International investors would take fright. And the pound would turn into the Great British peso. We heard a lot over the last four years about how leaving the European Union would be catastrophic for the UK economy. But here is something odd. With the transitional arrangement coming to an end
It was the most excruciating moment of Ursula von der Leyen’s short tenure as President of the European Commission. On Friday morning she hastily put together a press conference to counter the growing media storm across Europe over the EU’s handling of vaccine procurement. She doubled down on ‘solidarity’, announcing that the Commission had managed
It was a ‘rush of blood to the head’. Its central bank would prove to be hopelessly ineffective. And cultural differences would remain too deeply ingrained for an internal market to ever work as it should. We learned this week from papers released in Dublin that Mrs Thatcher was completely damning about the idea of
In the end, the fish were only of symbolic importance. Neither does it matter that much what happens to Scottish seed potatoes, no matter how much of a fuss Nicola Sturgeon kicks up. Farming, tariffs and quotas are of relatively little importance given that the exchange rate will simply adjust to compensate for any changes
The port of Dover has been closed down. The Eurotunnel isn’t carrying any freight for a couple of days. The lorries are already starting to back up in Kent, the supermarkets are working out where they can get fresh supplies from, and flights have been suspended, with the British likely to find they are turned
Factories will close. Prices will rise. Profits will suffer. Another day, another warning of disaster from one of the major car manufacturers about the catastrophic cost of a no-deal Brexit. But hold on. Before anyone’s eyes start to glaze over, there is a twist to this one. It is a German company that is starting
