Friday, August 21, 2020

How the French government is using Brexit for its economic advantage

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Syed Ahmed Uzair

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How the French government is using Brexit for its economic advantage

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Global Views 360

Publication Date

August 21, 2020

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The Eiffel Tower Paris, France

The Eiffel Tower Paris, France | Source: Paul Gaudriault via Unsplash

Brexit is an abbreviation for "British exit," which refers to the decision of the UK to leave European Union (UK). The decision to leave the EU was put to a referendum on June 23, 2016 by the then Prime Minister Boris Johnson, which resulted in a 52% to 48% majority for those who called for the UK to leave the EU.

The UK had joined the European Economic Community in 1973, and later became the founding member of European Union in 1992. The entry of the UK had always generated opposition from a section of the political spectrum in the country. It was earlier opposed by the left wing parties followed by the Eurosceptic parties like UKIP (United Kingdom Independence Party) and later propagated by a section of Conservative party.

After a lot of false starts, the UK Parliament ratified Brexit which specified that the UK will leave  the EU on 31 January 2020. An eleven month long transition period was also specified to enable the UK and EU to negotiate their future relationship. During this transition period the UK will remain subject to EU law, remain part of the EU customs union, and single market, but no longer be part of the EU's political bodies or institutions.

Euro, the currency of European Union | Source: Markus Spiske via Unsplash

The loss of the UK, the largest non-eurozone member of the EU means that the focus shifts towards the eurozone members but more importantly it leaves a 75 billion euro deficit in the EU’s budget and raises questions regarding its future direction. In the absence of the UK, it would be challenging for the EU to continue its commitment towards fiscal responsibility, free trade and enlargement of the block.

A 2019 report from New Financial Aid cited that Britain’s exit from the EU would mean the bloc losing its biggest financial centre, London. It also mentioned that many business hubs and financial organizations had started opening hubs in the EU to cope with Brexit.

As per New Financial Britain accounted for almost one-third of the entire capital market activity of the EU, which is more than France and Germany combined. The report had suggested that France and Germany would have a “duopoly” in most major financial sectors post UK’s exit, with France being the dominant in most of the sectors.

Emmanuel Macron, President of France | Source:  Presidencia de la República Mexicana via Wikimedia

The two biggest economies of post-Brexit EU, France and Germany have taken different public postures on Brexit. The president of France, Emmanuel Macron has termed Brexit as a blessing in disguise for France and an opportunity for “European renaissance.” His German counterpart, Angela Merkel has however, chosen to remain silent on the issue.

France has taken an aggressive stance on attracting business away from the UK ever since the 2016 referendum in the UK was won by the leavers in the UK. France under president Macron has rejigged its tax system and reformed its labour laws to create a more business-friendly environment.

Paris had also initiated a poster campaign with the slogan “Tired of the fog? Try the frogs!” in a bid to drive financial investments from London in the wake of the Brexit developments in late 2016. Officials from Paris had also assured stability to the British businesses citing that Paris would be the only global city left in Europe after the exit of Britain.

Arnaud de Bresson, managing director of Paris Europlace, the organization responsible for promoting the financial sector in France points out that Paris is well ahead of its competitors in the EU-27 bloc with nearly 180,000 employees in the financial sector. The next best figures are from Frankfurt with 70,000 workers from the financial sector as per the report by the organization. Brexit has resulted in nearly 80 to 100 financial businesses from London relocating nearly 4000 jobs to Paris, and as per de Bresson this process is “likely to accelerate”.

The French Economy Minister, Bruno Le maire had said in February 2020 that Paris would become the leading financial centre in Europe in the wake of Brexit. He even went ahead to say that the French economy “must take advantage of Brexit”. However, his statements are not exactly accurate. The UK still remains the undisputed leader in the financial sector with 250,000 employees and 7% contribution to its GDP.

French senator Christian Cambon | Source: Boicaro via Wikimedia

French senator Christian Cambon who serves as the co-chair of the Senate Brexit Committee had warned in 2019 that Brexit could have adverse impacts on a few sectors of France’s economy. "Our farmers, our fishermen, our businesses, and the regions of Normandy and Haute France. It will have consequences for all these areas and for the whole of the EU, it could even give other members some ideas. That’s why we want to follow the process step by step while abiding by the competences of the Senate." French fishing industry members have had concerns over being denied access to British waters post Brexit, considering that 75% of fishing taking place in Haute France is in British territorial waters.

However, President Macron remains as optimistic as ever regarding Brexit’s impact on the nation’s economy and has been actively promoting his nation via a series of reforms to attract businesses and investments. He also launched the 'Choose France' package which provides financial help and English-language support to UK based businesses that want to move to France.

The short-term projections are pointing to be somewhat in favour of France, it remains to be seen if Brexit will have a positive impact on the nation’s economy in the longer run or the UK will have the last laugh.

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February 13, 2021 8:54 PM

Black Lives Matter: Looking back at the journey of racial justice movement as a Nobel Peace Prize Nominee

The killing of George Floyd by a police officer in the state of Minnesota, has confronted the people of the United States in particular and the Western World in general about the existence of deep-rooted racism which has remained even after the Civil Rights movement and many decades of progress.

The years of racial discrimination led to the emergence of the Black Lives Matter (often abbreviated as BLM) movement. The BLM movement has been nominated for the 2021 Nobel peace prize as well.

This article explains the BLM movement, it's nomination for the Nobel Peace Prize as well as its symbolics importance in the lives of the black people. In other words, it looks back at the journey of this racial justice movement as a Nobel Peace Prize Nominee.

What is the Black Lives Matter movement?

The BLM movement started in 2013 after George Zimmerman—a white man—shot dead—black teen—Trayvon Martin—to death in 2012. The term “Black Lives Matter” was taken from the tweet of a woman named Alicia Garza, which turned into a trending hashtag and later into the name of the whole movement, co-founded by herself, Patrisse Cullors, and Opal Tometi.

The movement aims at equality and racial justice for Black people and highlights the injustices and oppression against them.

Furthermore, there is also strong resistance from the police and usage of military weapons against the black protestors as compared to the white ones, a kind of systematic racism which was clearly visible during the Storming of the Capitol Hill.

When a black person named George Floyd was killed by a white police officer in Minnesota on 25 May last year, the movement gained momentum and there were solidarity protests not only in America, around the globe—including countries like the UK, France, Australia and Germany. There were even violent protests in some parts of the US, and in some places the right wing groups clashed with these protestors.

The Movement Growing Profusely

A pro-right wing ruling government, where the President himself was criticised for being racist on several occasions and the upcoming elections led to increasing dissent—furthering the growth of the movement. George Floyd became the face of the movement along with many other black people who lost their lives before due to systematic racism—some names in the unfortunately endless list were Breonna Taylor, Ahmaud Arbery, . The movement also started getting the support of Hollywood celebrities, who supported the movement on their social media handles.

Amidst of all this, a similar killing of yet another black person, named Jacob Blake happened, which sparked the protests further.

“The group has called for defunding the police for at least five years”, Black Lives Matter Los Angeles co-founder Melina Abdullah told CNN. Some of the protestors believe that defunding the police could decrease such incidents.

In June, after pressure from BLMLA and massive protests, the Los Angeles City council unanimously approved a measure to develop an unarmed model of crisis response that would replace police officers with community-based responders for nonviolent calls.

Corrine Basabe, a black woman, started the George Floyd Justice Billboard Committee. Because of that, there are also billboards in cities like Los Angeles, New York and Washington DC, which are made for people to see regarding the Black Lives Matter movement and the killing of George Floyd. This way, many people driving through the roads could be reminded of what happened.

Featuring an oil painting by New York City artist Donald Perlis, a white, the billboards also include a quote from the Rev. Martin Luther King Jr.: "Injustice anywhere is a threat to justice everywhere." His painting was also displayed in New York’s Times Square.

When asked what she hopes for BLM's future, co-founder Patrisse Cullors said she knows the movement will win. "I know this because our work is full of love, healing and dignity," she said. "And we centre Black people's humanity and life over our death and decimation."

Backlash

The movement faced backlash from various right-wing groups like The American Patriot and Proud Boys. There was a slogan “All Lives Matter” from the Anti-BLM protestors, which minimises the problems faced by the black community in their daily lives. The then President Donald Trump also refused to condemn the right-wing groups and he defended the police instead of supporting the Black people’s cause.

In Arizona, Rep. Walt Blackman, a Black GOP member of the Arizona Legislature labelled BLM as a “terrorist organisation” in an interview with Fox News Radio affiliate KFYI.

There are a lot of post-truth narratives defaming the BLM movement.

Nomination for Nobel Peace Prize

As mentioned earlier, the BLM movement has been nominated for the 2021 Nobel peace prize, for the way they spread and called for a systematic change in the world, through non-violent protests. It has been nominated by a Norwegian MP.

In his nomination papers, the Norwegian MP Petter Eide said the movement had forced countries outside the US to tackle racism within their own societies.

“I find that one of the key challenges we have seen in America, but also in Europe and Asia, is the kind of increasing conflict based on inequality,” Eide said. “Black Lives Matter has become a very important worldwide movement to fight racial injustice. They have had a tremendous achievement in raising global awareness and consciousness about racial injustice.”

He said that one other thing that impressed him about the BLM movement was the way “they have been able to mobilise people from all groups of society, not just African-Americans, not just oppressed people, it has been a broad movement, in a way which has been different from their predecessors.” He has previously nominated human rights activists from Russia and China for the prize.

His written nomination concludes: “Awarding the peace prize to Black Lives Matter, as the strongest global force against racial injustice, will send a powerful message that peace is founded on equality, solidarity and human rights, and that all countries must respect those basic principles.”

Nominations for the Nobel peace prize are accepted from any politician serving at a national level, and they are allowed only 2,000 words to state their reasons. This year’s deadline was February 1, and the committee prepares a shortlist by the end of March. The winner is chosen in October and the award ceremony is scheduled for 10 December. The World Food Programme was the winner last year.

The movement deserves the nomination, and if it is declared the winner of the Nobel Peace Prize, then it’s going to be a huge win for the Black people and will give a push towards an ideal where there will be no racism.

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