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In a shift from statements at earlier summits which focussed on fiscal restraint, the Camp David summit continued the "firm committment to fiscal consolidation," yet emphasized jobs and economic growth as "imperative." There is new flexibility to address needs for economic growth and no specific timetables for fiscal balance as in previous summits. Obama had many one to one encounters with the other leaders. He discussed the euro crisis with Cameron while working out on a treadmill, and watched the Champions League soccer final between Chelsea and Bayern Munich with Merkel and Cameron. Each leader of the G-8, Harper of Canada, Monti of Italy, Hollande of France, Medvedev of Russia, Cameron of Britain, Noda of Japan, Merkel of Germany, was assigned a cabin in the rustic wooded setting of Camp David's mountains. A special effort was made to see that Germany's Merkel did not feel isolated in the setting because of the growing sentiment that austerity policies pushed by Germany are not working. On Iran, Obama stated that he was "hopeful that we can resolve this issue in a peaceful fashion that recognizes their sovereignty, but also recognizes their responsibilities."...

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Simon Nixon says British prime minister, Cameron, has antagonized European leaders by making demands to protect Britain's financial industry. Ironically this happens as Britain was arguing for stricter financial regulation. Britain has been isolated and risks remaining on the sidelines from now on. Nixon says this starts a process that could lead to Britain withdrawing from the European Union.

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Without resources, the task of leveling up the north of England with the south of England after income gaps and inequalities, is anaemic and inadequate, says this editorial in the Guardian. It says the chancellor Rishi Sunak has no intention of spending the kind of money that is necessary so that the regions scarred by accelerated deindustrialization under Margaret Thatcher and hit by austerity under David Cameron can recover and get back on their feet. It cites an IIPR think tank study that shows spending from leveling up fund was 32 pounds per person in the north of England. In the austerity decade the drop in council spending for services was 413 pounds per person in the north of England. It is an example of so little coming so late.

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To increase the appeal of the Conservative party and help it stage a comeback, party leader and now prime minister Cameron, made a pledge not to reduce the budgets for health care and the National Health Service. By sticking to keeping this pledge Cameron is committing to much deeper cuts in government agencies, public sector jobs, and other areas. Carl Emmerson of the Institute for Fiscal Studies, says that because of this the cuts elsewhere will rise to a much deeper 25%. Phillip Cowley, a political scientist, says that the NHS is a totemic issue with the British people, and helped Cameron get the top job, as the Labor party could not hit the Conservatives on the issue of the National Health Service.

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Boris Johnson was never for austerity and says this in his new book, yet he failed to make the major investments in the British economy in the way Biden has done in the US, and in some ways has left Labor's Starmer with difficult decisions with the strained budget finances of Britain. Of the investments he protected from John Osborne and his austerity plans as chancellor under Cameron Boris Johnson says- “Those big investments – Crossrail, the Olympic site, the Westfield Centre at Shepherd’s Bush – were fortuitously timed for London: vast counter-cyclical programmes that kept the spades going into the ground and people in work.” This was as Mayor of London in 2016. Of Osborne and Cameron so little is left, and so little came out of the period of austerity other than the failed investments Britain failed to make, simply a lost decade for Britain. And the diversion of Brexit under Johnson not taking Britain to a good place for the standard of living of the British people. Of the intraparty conflicts in the Tories he says Sunak's resignation as chancellor should never have happened calling it "worse than a crime," and a mistake for Sunak, the party, and the country. Johnson says that many days as PM he would come back to No.10 flat, exhausted and working into the evening when he should have been talking to colleagues, MP's to keep them all together. After Sunak's resignation from Boris Johnson's cabinet the Tory Conservatives split further apart, this time in the Boris Johnson faction of the party. Sunak's elevation to prime minister was short lived ending up with the Tories going downhill from there.  On the singular goal that led to the splits- that of Brexit- Johnson has little more to say than that in his travels he had found people wanted more Britain. ...

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President Biden is moving forward a plan to setup a maritime corridor from Cyprus to Gaza and a pier where commercial ships can drop off humnitarian aid and food. The trip would take 28 hours from Cyprus and would be able to get in 200 trucks of aid supplies each day. The Qataris and UAE will also help with this plan and Israelis will cooperate. On the diplomatic front both the European nations, Britain and the US are working together to get Israeli cooperation. British Foreign Secretary Cameron met Benny Gantz. Earlier Gantz met with Kamala Harris in Washington D.C. Gantz is part of the wartime cabinet in Israel. The US and EU, Britain all now have serious differences with Mr. Netanyahu on putting the humanitarian situation first and foremost considering the situation in Gaza.

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Poor performance by UK Tories leader Kemi Badenoch at PMQ Prime Ministers Questions in the British parliament, broadcast on C-SPAN every Sunday at 9.00 pm US EST, is leading to speculation among Tories that she may not be around after local elections. Robert Jenrick who contested the leadership election is around says skeptics. Tories have changed leaders from  Cameron to May, May to Johnson, to Truss, to Sunak, to Badenoch, and now Jenrick? That would be the seventh new Tory leader since David Cameron assumed office in 2010. Then followed Brexit and Covid pandemic, and Labour taking office with the British now favoring being part of the European Union, all coming in full circle through 7 prime ministers in 15 years. 

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This piece by Kanter in the NYT gives an account of Jean Claude Juncker's background as a political leader in Luxembourg. His father worked in the steel industry and was active in the trade union movement at a time when farming and steel making supported the economy of Luxembourg. In two decades under Juncker Luxembourg was transformed into a banking and insurance center with one of the largest per capita incomes in Europe. As a Brussels insider Juncker, according to British public opinion, is an odd choice to head the EU when it is trying to make its administration more democratic and less distant from the average person in the EU. Britain's prime minister Cameron says Juncker "was never on any ballot." The reason for Juncker's candidacy is that he is supported by the centre right parties in Europe, which also lost support in the recent elections. The Socialist and left parties fared worse in the election, but both centre right and left parties lost votes to third parties and nationalist parties such as the Marie Le Pen's nationalist party in France and the Independent party in Britain. Even chancellor Merkel of Germany initially hesitated to support Juncker, but confirmed him as her choice when German public opinion showed it favored the selection based on the largest party in the European parliament making the choice. This puts Britain and Cameron at odds with Germany, with the Swedes and the Dutch calming their doubts about Juncker and going with Germany. Little is mentioned in the media about the other candidate, an SPD leader from Germany representing the socialist and Left parties. ...

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Labour Party leader Jeremy Corbyn is for negotiating a Brexit deal that protects workers interests. Most of the Labour party supporters and the rest of the leadership is for Remain and a second referendum. Corbyn's position could help Labour in some ways as it brings support from some Leave voters who are unhappy with the way the Conservative party has handled it. Corbyn's manner of straddling between his party's position and his own could help the Labour party in the election because of is unrelenting focus on working class interests and the Brexit mess created by the Conservative party's Cameron and Johnson. 

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Mr. Boris Johnson resigns as member of parliament on June 8, 2023, with criticism of the Rishi Sunak Tory government. The Guardian shows the years in office 2019- 2022 of the man who took Britain out of the European Union, and his years in office during the pandemic. From 2016 to 2018 he was Foreign Secretary.  He was preceded by David Cameron of the Conservatives who setup a coalition government in 2010 with austerity policies till 2016, much of whose latter years as prime minister were overshadowed by Mr. Johnson leading the Brexit faction in the party and as Mayor of London. In 2023 with Britain under a cost of living crisis and in financial stress after the austerity years, this period looks like a lost decade for Britain- with the failure of its leaders under the Tories.

 

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Le Monde looks at falling living standards across the UK. It looks at Essex and Brentwood and other towns outside the metro region of London. The 2009 financial crisis caused by banks was followed in four blows of Cameron's decade of austerity and of not investing in Britain, the upheavals of Brexit, the once in a century pandemic, and now inflation, causing a depressing sight of all lower and middle social classes struggling to make a living. 

Since 2007 real wages in UK have fallen by 3.5%. Between 1970 and 2008 wages grew by 33% every 10 years.

The poorest 10% in Britain have 22% lower purchasing power than the poorest 10% in France, says Torsten Bell of Resolution Foundation, author of report "Stagnation Nation."

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When so much of infrastructure healthcare and education still needs more funding, and when St Paul's Cathderal lacks essential funds for basic maintenance and is in danger of closing, the Greensill scandal shows how much reallocation of funds to infrastructure, health, and education to help workers, students and families is needed. How much the existing culture distorts allocation of capital in ways that are vital to the future of families, students and workers, and lobbying acts in ways that are against the national interest. Here the WSJ says the lobbying of David Cameron, former UK prime minister extended to getting access to funds for Greensill, a  company that operated in  supply chain finance, lobbying for funds from the emergency financing facility provided by the Bank of England. Treasury rejected 56 messages sent by Cameron to top British politicians over several months to have rules changed. Greensill went into bankruptcy in March 2021, stranding investors who had put in $10 billion. A parliamentary committee is now looking into this case of Greensill. The company was founded by an Australian Lex Greensill, and does little more than provide companies a cash advance to stretch out the time to pay bills. One question no parliamentary committee will ask is why when the needs for infrastructure, health and education are so great $10 billion in funds, public or private even go into something like supply finance that does so little for the country. This is an example of the kind of distortion in the uses of capital that has become commonplace today, creating societies and countries with poorly  funded infrastructure and essential services in the advanced countries of Europe and the US. ...

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Theresa May, the new British prime minister, announces her choice for cabinet positions- Liam Fox is new minister for International Trade, David Hammond is the new Chancellor of the Exchequer replacing Osborne. Hammond was Foreign Secretary under Cameron and helped negotiate the Iran nuclear accords. David Davis, a former minister for Europe, is in charge of a new ministry created to arrange Britain's exit from the EU. Boris Johnson replaces Hammond as Foreign Secretary. Johnson was Mayor of London and was a key figure in the Leave campaign. Michael Gove is out. David Davis and Johnson were in the Leave campaign and are now given responsibility for working on Brexit, a move that puts to rest any doubts about steps to be taken for Brexit, and is an effort to reunite the Conservative Party. With Osborne out, a principal architect of the austerity budgets of the 6 years of Cameron's government is now replaced by Hammond, who will now reflect the desire of Theresa May to come up with policies that "benefit everyone" and fight "burning injustice" to use May's first words as she assumed office at 10 Downing Street.  ...

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Wasn't immigration from Europe  one of the main reasons for pushing for Brexit by Brexiteers? UK left the European Union on Jan 31, 2020. So how has this changed since Brexit asks The Times of London? It may come as a surprise to know that Poles and Romanians who came to the UK before Brexit to fill low skilled jobs are are now replaced by high skilled Indians, Pakistanis, Nigerians, data from the Department of Works and Pensions suggests, and cited by The Times. And the numbers are large far exceeding by a factor of 3 the numbers before Brexit. Official data this week says The Times shows net migration hit 700,000 last year 2022 compared to 223,000 at the time of the Brexit vote. Three reasons are given. The first is that there is a surge in foreign students whose lucrative fees support British universities. Second one off schemes enabled hundreds of thousands of Ukrainians and Hong Kong Chinese to come to the UK. And the third the biggest reason is that the post Brexit regime issued 800,000 visas in its first year. This means that instead of less well off Europeans, more affluent Chinese, Ukrainian refugees, and better educated Indians and Pakistanis made their way to the UK. In any case a high rate of immigration took place, and one set of Eastern Europeans Ukrainians replaced another set from Poland and Romania. Brexit was essentially a serious distraction for Britain leading to three Tory governments. Had Cameron been honest and not used Brexit as a ploy to generate support the Tories could well have been replaced in a tight election after the austerity period. Instead Britain had four prime ministers and constant upheaval Cameron replaced by Theresa May, Boris Johnson, Liz Truss, Rishi Sunak. Ending up with the Tories and Britain in not a good place in where it matters- the economy, growth, health, education, and cost of living. Britain must now look to Labour for reviving the lives of workers and families, reviving the economy, fighting climate change, creating hope for the future. ...

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Agreement signed by Britain's prime minister Cameron and Alex Salmond of Scotland for a referendum by the end of 2014 on greater autonomy for Scotland or independence.

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Quentin Letts writes this exceptional and humorous account in the Daily Mail of the events that unfolded in the weeks after the Darling-Salmond debate on the Scottish referendum for independence, and after the first polls showed Alex Salmond's Scotland Independence Party ahead in the vote. Here he describes in good humored as well as insightful detail -the moves, maneouvring and efforts of London politicians, the media, and the elites, during the days leading to the referendum as alarm grows about a breakup of Britain. Cameron, Clegg, Miliband, 100 Labor MPs rushing to Edinburgh to plead with the Scots, and the clever Alex Salmond who had a flair for old style political haranguing, all figure in what Letts says was a worthwhile topic for a Shakespearean tragedy, showing Britons in uncharacteristic passionate terms. Lets does not mince words about the motivations of the actors- Labor Party seeing damage to its own prospects in the next elections by losing its Scottish base will do everything to avoid the prospect of dissolution. Cameron of the Conservatives looking to energize the English vote with a promise of devolution for all including Englishmen to improve his own prospects, when the UK Independence Party and Nigel Farage were threatening the Conservatives from the right. One actor Letts does not mention is Britain's former Labor prime minister Gordon Brown, who is from Scotland. Brown may have saved the day by his passionate plea to fellow Scottish voters to stay with Britain, the only truly credible voice from London in Edinburgh and the countryside. As it turned out Glasgow went to the Independence Party, but Edinburgh went to the "Stay Together" alliance with over 60% of the vote, and prevented any last minute surge for the independence vote. Brown pointed out in an oped in the WSJ that Scotland had gained on almost equal terms with England and the rest of Britain in terms of average incomes as a result of efforts in recent decades, truly important bedrock considerations....

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Britain's David Cameron leads the successful effort to hold down spending in the European Union's next 7 year budget plan, supported by Germany and the Netherlands. The new 2014-2020 EU budget plan holds down government contributions to the budget to 959.99 billion euros. There is a 35 billion decrease from the last budget plan after adjusting for inflation, and less than the 1.03 trillion euros proposed by the European Commission, the EU's executive body. Actual spending is set at 908 billion euros compared to 943 billion euros for 2007-2013. Cuts were made in some areas- direct subsidies to farmers went down to 277 billion euros from 337 billion euros. EU funding to tackle high youth unemployment and build transnational infrastructure increased 37% to 126 billion euros. Funds allocated for investment projects in poorer regions slightly declined to 325 billion euros. Special rebates to the UK and the Netherlands remain- the Netherlands rebate is 1 billion euros. The mood of European leaders was summarized in the words of Britain's prime minister Cameron: "Frankly, the European Union should not be immune from the sorts of pressures that we have to reduce spending, find efficiencies and make sure that we spend money wisely that we are all having to do right across Europe."...

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Both the Remain and Leave campaigns for the EU referendum are suspended in Britain following the killing of Labor MP Jo Cox.  The killing was described by police as done by a man with links to right wing extremism and mental health services.  David Cameron and Jeremy Corbyn, leaders of the Conservative and Labor parties, say this is an "attack on democracy."

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The Vickers commission, has been appointed by the Cameron government to look into the British banking system and the largest banks. Ringfencing to protect retail deposits from the bank's other investment activities has been suggested. The focus is on increasing capital requirements as critical to protecting British taxpayers and the banking system. This means going beyond the Basel 3 requirements to build an extra safety buffer for the types of situations the British government was faced with in HBOS, where losses were even greater than average. Determining this should be coordinated with EU and Basel regulators.

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The lack of a formal constitution in Britain means that a lot depends on politicians in parliament acting like good chaps, says Economist magazine. With the divisions over Brexit in both parties the political norms and self-restraint of an earlier period are lacking. As a result informal rules of conduct, and other conventions are being ignored, norms of British politics have collapsed with the situation created by the Brexit referendum vote. In another essay shown on this page the Economist points out that the chumocracy under Cameron gambled the future of Britain on a major issue with a simple 51% and you are out of EU vote, when even less momentous issues are decided in two stage process and super majority required.

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Michael Gove resigns from the Tory government of Rishi Sunak days after the announcement of UK elections on July 4, 2024. Here he says a greater implosion than gaining about 150 seats  for the Tories party could even blow away his chances in a solid Tory seat. Much has changed in Britain since the days of Brexit which is highly unpopular today with the British public. The Times Tim Shipman looks at the controversial decisions of Gove and how he added credibility to the Leave campaign when he had previously advised Cameron against holding a referendum. Today 58% of British people support joining the European Union. Gove's actions and that of others including Johnson, Cummings and Sunak show Conservatives in a poor light leaving Britain in a precarious position with low growth and little room in finances for the kind of investment Britain needs for its infrastructure, public services and its economy. It is a lesson that sudden ill thought out moves for political advantage by politicians and poor decisions can create chaos and diminish a nation's prospects. ...

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Putting 300,000 children in poverty, affecting 1.6 million families, that is the cost of the two child benefits cap of Tory finance minister under Cameron, Osborne. The cost 1.7 billion pounds when 18 billion pounds of debt was added to the debt of company running the British water utility Thames Water, with a chunk of it to to pay dividends, that was privatized in 1989, as shown in the Guardian. Leading to its inability to make the investment needed and to the water quality issues in the Thames river. Thames Water is near financial collapse with parent company defaulting on its debt in April, according to the Guardian. The misallocation of funds under the Tories is a warning about what happens under Reagan/Friedman economic theory that has become part of the existing culture and damaged the economy in the US and Europe. These are what the King's Speech called "the scars of 14 years where politics (and economic theory) was put above the national interest, and decline deep in the marrow of our institutions." It is a time for deep reflection on what has happened. ...

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Documents cited by German magazine Der Spiegel show the U.S. National Security Agency (NSA) spying on the European delegation to the UN. An open letter to Britain's prime minister David Cameron published on Sept. 1, 2013 in Nordic newspapers, Sweden's Dagens Nyheter, Finland's Helsingin Sanomat, Denmark's Politiken, and Norway's Aftenposten, says: "We are deeply concerned that a stout defender of democracy and free debate such as the United Kingdom uses anti-terror legislation in order to legalize what amounts to harrassment of both the newspaper and individuals associated with it." The reference was to the Guardian newspaper which was asked to hand over Snowden document files to the British government. The Guardian newspaper destroyed computer equipment containing Snowden files after being pressured by the Birtish government. The open letter said Cameron's action "were undermining the position of the free press throughout the world." The issue of spying by the NSA has aroused strong sentiment in Germany and the Nordic countries because of memories of the period before 1945....

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The Cameron and Tory plan to cut the deficit quickly is a gamble, especially if fiscal cuts choke off growth. Cuts could have been made in the NHS which would have put less stress elsewhere. The huge budget deficit, at 11% of GDP, says the Economist, left Mr Cameron and his Liberal allies with few options. By generating three quarters of the savings through spending cuts, by cutting most government department budgets by 25%, Britain has taken a radical course. Chancellor of the Exchequer Osborne's focus is on slimming the government, and Cameron's closest adviser Hilton is looking at decentralizing government. A course certainly not expected from Mr Cameron's coalition with Mr Clegg's Liberals, and not in the first 100 days. Now it remains to be seen when Spain, and America look to Britain for ideas, says the Economist in this editorial.