EU banking regulator ESMA: Brexit interim solution for stocks

WITHu One of the big unresolved questions about Brexit is how the EU will deal with access to the London financial center. After the transition period expires at the end of the year, the UK will become a third country. The market access of British financial service providers to the EU then depends on whether the EU classifies British financial market regulation as equivalent – in technical jargon equivalent – to its own. Only when this equivalency decision has been made can investors buy and sell shares in London, among other things, at least from companies that are listed on both the island and the mainland. These include the pharmaceutical group Astra Zeneca, the media group Relx, the travel company TUI and the parent company of Iberia and British Airways.

The equivalence decision is a long time coming. The European Commission emphasizes that there is no connection between the difficult negotiations on the post-Brexit relationship between both sides and the decision on stock exchange equivalence. The reason for the delay is that there is still a lack of clarity about future British financial market regulation. However, in the dispute with Switzerland over a new framework agreement with the EU, the Commission used the equivalence decision as a means of pressure. This is one of the reasons why there has been growing concern in the Member States for some time that at the end of the year this point too will be in ruins.

Therefore, the relief is likely to be great that the EU securities supervisory authority Esma in Paris has now issued a transitional regulation for at least some of the double-listed companies. Esma said it was about minimizing market disruptions after the United Kingdom’s final withdrawal from the internal market. The authority therefore allows European investors to trade double-listed shares with a European ISIN in London next year – but with one important restriction: this only applies to securities traded in pounds. We can therefore only speak of a minimal solution.

According to Esma, it is less than 50 shares. The trading volume of these papers is below 1 percent of EU equity trading. They were not systematically traded by European investors, but rather irregularly on British stock exchanges, the supervisory authority announced. The exemption can only come into force if the British financial regulator FCA agrees. But this is a matter of form. There is still no solution for stocks that are double-listed in euros. This applies not least to Irish companies such as the airline Ryanair, the insulation technology manufacturer Kingspan or the “Bank of Ireland”. Last year Esma put the number of these papers at more than 6,200. Financial service providers and investors should not have much hope that Esma will issue a transitional regulation for these shares as well. You have already done the “maximum possible”, stressed the authority.

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The bearish bleeding continues in a Stock Market that has thrown in the towel – Economy

The Stock market continues immersed in a spiral of uncertainty, concern and weakness. For the moment, fear clearly beats hope. There are plenty of reasons, as Sabina would say. To the usual considerations – a growing pandemic / dwindling economy, uncertainty about the presidential elections in the US and Brexit – analysts also add the misgivings generated by general state budgets that the Government intends to approve. They include a tax increase that will surely not reach its income targets, and an increase in social spending, which will cause a substantial increase in public debt and the deficit. The first derivative is that many foreign investors, when in doubt, prefer to place their money in other markets, which can leave the Spanish stock markets especially bleak.

The increased tax burden on Socimis, investment companies in the real estate market, can be translated into a gradual withdrawal of foreign investors in this market. International money will seek another more friendly destination. According to the figures that the Bank of Spain, there are currently a hundred Socimis listed on the market BME Growth, the old MAB the Bursatile Alternative Market, with a market value at the end of last year of 27,000 million euros.

Business results

The Ibex 35 index starts with a loss of 2 percent, up to 6,510 points. In the little that goes of the week already accumulates a fall of more than 5 percent. Baja Bankia, who has won 180 million euros in the first nine months of the year, which is 69 percent less than in the same period last year. The entity has made provisions for 155 million to face the effects of the economic crisis derived from the health crisis.

Cutbacks at Indra, even though he has cut his losses in half. But go up Cie Automotive, whose net profit has contracted 29 percent at the end of September, to 117.8 million euros. Red numbers in Electric Network. Its profit has fallen by 4.2 percent at the end of the third quarter, to 507 million euros. And strong declines also in AENA, which has resulted in losses of 108 million euros as of September due to the brutal fall in air traffic. Neither Naturgy, the old Natural Gas, is saved from burning. The profit of the gas company has contracted 45 percent, to 490 million euros.

Tomorrow the accounts of two of the greats of the Ibex are expected, as they are Repsol Y Telefónica. Today Repsol falls sharply due to the fall in the price of oil.

Today he debuts in Soltec Bag, a company dedicated to the manufacture of solar panels and components for photovoltaic installations. The company has set the starting price at 4.82 euros per share, which is the upper part of the expected range. This price values ​​the company at 440 million euros. It is the first IPO in more than two years. It will put 30 million new shares on the market.

Hurricane Zeta Reaches Category 2 | United States

NEW ORLEANS (AP) – Hurricane Zeta was approaching Louisiana at high speed with maximum sustained winds of 155 kph (100 mph), having gained Category 2 strength as it approached the coast. New Orleans, where a failure of a pumping system raised concerns about flooding, was directly in their path.

Workers closed one of the last floodgates surrounding the city as residents braced for the 27th named storm of an unusually heavy season. The famous streetcars stopped running and City Hall closed until after the storm, Mayor LaToya Cantrell said.

Warnings were issued as far as the mountains of north Georgia, unusual for the time. Seven previous storms that appeared to be heading for New Orleans veered east or west, but Zeta was still on the way.

A storm surge and strong and dangerous winds were expected to begin around noon along the US coastline in the Gulf of Mexico, where residents were preparing for the 27th named storm in a historically Atlantic hurricane season. very active.

Louisiana has had its worst this year: It has already been hit by two tropical storms and two hurricanes so far this season. New Orleans has been in the tropical cyclone warning zone seven times this year. “I don’t think we’re going to be that lucky with this one,” said city emergency director Colin Arnold.

Zeta is forecast to reach a category 2 hurricane with maximum winds of 160 kilometers per hour (100 miles per hour), according to the US National Hurricane Center.

The hurricane showed maximum sustained winds of 150 km / h (90 miles) on Wednesday morning, was moving north at 28 km / h (17 miles) and its center was 430 kilometers (265 miles) south of the mouth. from the Mississippi River.

Hurricane warnings covered Morgan City, Louisiana and along the Mississippi coast to the Alabama boundary. The hurricane watch off the coast of Florida’s northeast fringe was extended eastward to the border between Walton and Bay counties.

The center of Zeta is expected to reach the northern coast of the Gulf of Mexico and make landfall in the afternoon in southeastern Louisiana, according to the National Hurricane Center. The meteor would move overnight near the Mississippi coast and cross the southeastern and eastern United States on Thursday.

Louisiana Governor John Bel Edwards asked President Donald Trump to declare a disaster area. Edwards, Alabama Governor Kay Ivey and Biloxi, Mississippi Mayor Andrew “FoFo” Gilich declared emergencies. Trump declared an emergency in Louisiana Tuesday night.

“There is no doubt that we have seen a lot this year, with COVID and so many threats and so many storms,” ​​Gilich said in a press release, “but this storm shows that we have not seen everything yet.”

As the hurricane approached, New Orleans authorities announced that a turbine that generated power for the city’s old drainage pump system broke down Sunday with no anticipated speedy repair. There was enough power to keep the pumps running if necessary, but that would leave authorities with little backup power in the event of a failure in other turbines, officials explained at a press conference with Mayor LaToya Cantrell.

Authorities said they were considering options for getting power and making repairs if other technical problems arise. Forecasts were for 2 to 6 inches (5 to 15 centimeters) of rain in the New Orleans area. Authorities expect Zeta to move relatively quickly, which could reduce the threat of flooding.

The extraordinary hurricane season has drawn attention to the role of climate change, which scientists say causes wetter, stronger and more destructive storms.

Louisiana has suffered two tropical storms and two hurricanes this year: Laura, which killed at least 27 people in its wake in August, and Delta, which aggravated the damage left by Laura by hitting the same area a few weeks later.

“I’m physically and mentally tired,” said Yolanda Lockett, a Lake Charles sufferer, standing outside a New Orleans hotel.

Meanwhile, many people repeated the unwanted ritual of preparations on the coast again.

In St. Bernard Parish, a town on the Louisiana coast east of New Orleans, Robert Campo was preparing his marina, again, for the arrival of a storm.

“We are closed for four or five days. That’s four or five days when nobody fishes. They are four or five days in which nobody catches prawns. They are four or five days in which the economy does not work ”, he said.

Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

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UK government received alert about second “deadliest” wave of Covid-19

The outbreak includes alerts about its consequences in one of the European powers. The UK government received a report that warns about the effects of the second wave of the Covid-19 coronavirus. According to the text, a greater amount of loss of life is expected due to the effects of the pandemic.

The Scientific Advisory Group for Emergencies (SAGE) provided the conservative executive with a projection before the rise in infections. A number of advisers are even recommending Prime Minister Boris Johnson to take more drastic measures. A source confirmed that “It will be worse this time, more deaths”.

Daily Telegraph published data from the report that the British government handled privately. The media reports that the text establishes that the second wave of the virus “will be more deadly than the first.” The document specifies that “The death toll will remain high throughout the winter”.

The analysis indicates that deaths will reach a lower level than in the first outbreak, but will accumulate in the long term. The cited document reports that the deaths will remain high “for weeks or even months”. The physician and scientist Patrick Thompson Vallance is one of the proponents of this projection.

Thompson Vallance and other government advisers want Johnson to consider tighter restrictions to curb the spread. In some sectors, blockades are even requested to counteract the increase in cases. The British newspaper confirms that the ruler of the United Kingdom “It is under a lot of pressure to close again”.

Social distancing notice in Slough

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Trump, last stronghold of American apartheid

As his electoral defeat becomes more and more likely, Trump intensifies his inflammatory rhetoric. Generating chaos and doubts about the vote count is his main strategy. The most hopeful thing he’s been heard to say in the campaign was that if he loses, he might leave the US. But if he somehow retains power, the local and international consequences of an openly repressive and racist regime can be fatal.

NEW YORK – The virulence of America’s 2020 presidential election is not because of Donald Trump himself, but because of what he represents: racist power structures that have existed for centuries, even though they have sometimes changed shape. The long history of institutionalized American racism will not survive the next generation; that’s why Trump is so shockingly reactionary in his attempts to prolong it. But if he were to win a second term, his white nationalism streak could still do a lot of damage to the United States and the world; hence this election is by far the most important in the modern history of the country.

Racism was built into the United States since the founding of the colonies, with its economies based on the enslavement of Africans and the killing and looting of native peoples. Slavery became so integrated into American society that only a bloody civil war could end it; not like in most other countries, where the African slave trade and possession ended peacefully.

After the civil war, there was a brief period of emancipation for the African American population during the Reconstruction era (1865-76) which was soon replaced by a renewed system of racist repression, so comprehensive and systematic that in practice it was an American version. apartheid. The legalized segregationism of the southern United States is well known, but no less damaging were the repression and segregation in the north and west, with practices such as segregated access to housing, obvious employment discrimination, faulty or non-existent schooling. and systemic malfunction of justice.

In his brilliant and eloquent book The Color of Law, Richard Rothstein examines how federal, state and local governments, in collaboration with the violence of white vigilantism, created and perpetuated African-American ghettos across the country, while supporting and promoting the appearance of segregated white housing estates. Many overtly racist laws ended up being repealed by Congress or overturned by federal courts in the late 1960s. But racism continued, as evidenced by police brutality, the mass incarceration of young black men beginning in the 1970s, the permanent suppression of the black vote, and widespread employment discrimination. And most of the developments mentioned remained almost exclusively white.

The civil rights movement of the 1950s and 1960s produced profound and lasting changes. But it also prompted a political counter-reaction from white conservatism, especially in the South and the Midwest. White working-class and evangelical voters who had always been part of Franklin D. Roosevelt’s New Deal coalition turned to the Republican Party, which vowed to resist future attempts at desegregation and to support the policies of social conservatism. This “southern strategy” contributed to the electoral victories of Richard Nixon in 1968 and Ronald Reagan in 1980. And that same rural and suburban base, white and evangelical, facilitated the triumphs of George Bush father and son and Trump.

But today, young Americans are much more racially diverse (and racially diverse). They are also more educated: College campuses, by bringing together Americans of many diverse backgrounds, foster an environment of real diversity that contributes to greater racial tolerance.

According to a recent opinion poll by Pew Research, voters aged 18-29 split 59% for Joe Biden and 29% for Trump, who also doesn’t get much support from college students. Among undergraduate voters, Biden beats Trump 57% to 37%. And among graduates, the margin is even higher: 68% to 28%. Trump’s electoral base is concentrated on older, white, less educated, Protestant voters, many of whom moved to segregated housing estates decades ago precisely to avoid integration.

In 2016, the voters who changed the outcome of the election were white workers from the Midwest who had lost their jobs to automation and international trade (many of whom previously voted Democrats). Trump seduced them with a promise to stop immigrants and minorities from competing with them for housing and jobs, and he was going to relocate numerous industrial jobs with a firm stance on China. It was an effective message.

But this year, the “hinge vote” is likely to favor Biden. Trump’s disinterest in public health allowed Covid-19 to wreak havoc. Add to that a weak economy, the fact that jobs that went to China did not return, the general rise in factory unemployment since the start of the Trump presidency, and Biden’s compelling proposals to create millions of jobs. By investing in green and clean infrastructure, it turns out that Trump’s message is no longer attractive to many of those voters.

As demographic makeup and cultural attitudes in America are changing, older segregationist white voters may find that this election is their last chance. Trump’s remaining ploy is voter suppression, with sinister threats that his defeat will unleash vigilante violence. Time and again he refused to promise a peaceful handover of power, and his ominous call on white supremacist groups to “back off and wait” for election results still resonates.

As his electoral defeat becomes more and more likely, Trump intensifies his inflammatory rhetoric. Generating chaos by sowing unfounded doubts about the vote count is his main strategy to retain power. The most hopeful thing he was heard to say throughout the campaign was that if he loses, he might leave the country. But after a lifetime of tax avoidance and financial fraud, justice will catch up with him sooner or later.

If Trump somehow retains power, the local and international consequences of an openly repressive and racist regime in the United States can be fatal. Inside the country, unleashed and unhinged white supremacist groups could fuel an outright spiral of violence. And on the international level, Trump’s evangelical base is burning with desire for a cold war with China, in keeping with the xenophobia, anti-Chinese racism and the historical ignorance of these voters.

In short, the coming weeks will be dangerous times. America and the world will not be safe until Trump is gone.

The author

Jeffrey D. Sachs, Professor of Sustainable Development and Professor of Health Policy and Management at Columbia University, is Director of the Columbia Center for Sustainable Development and the United Nations Sustainable Development Solutions Network. He has served as a special advisor to three UN Secretary Generals. His books include The End of Poverty, Common Wealth, The Age of Sustainable Development, Building the New American Economy, and most recently, A New Foreign Policy: Beyond American Exceptionalism.

Translation: Esteban Flamini

Copyright: Project Syndicate, 2020.

www.project-syndicate.org

Global Autonomous Navigation Market Growth, Demand, Threat Analysis 2020 by Regions, Leading Players, Application, and Forecast to 2029

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Mild Weather Helps California Fire Fighting

LOS ANGELES (AP) – Warmer weather Wednesday helped firefighters fight two fires that have forced the evacuation of nearly 100,000 Southern Californians.

Authorities lifted some evacuation orders Tuesday as the winds subsided and the fires burning in the forested hills surrounding urban centers in Orange County were somewhat contained. More people will be allowed to return home in the next few hours.

“With a more favorable climate, fire crews will have opportunities to better control flames,” the California Department of Forests and Fire Protection said in a statement.

The Silverado Fire broke out early Monday morning amid high winds near Irvine, a city of 280,000 residents 35 miles south of Los Angeles.

That conflagration and another dubbed the Blue Ridge just to the north, which erupted a few hours later near the town of Yorba Linda, led to the evacuation of thousands of residents. At least 10 homes were damaged by the fire.

Experts estimate that climate change has become a factor in the California fires, as trees and plants are drier and therefore more flammable. October and November are usually fire season, but 8,600 fires have broken out in the state, devastating a record 16,600 square kilometers (6,400 square miles) and destroying about 9,200 homes, businesses and other structures. A total of 31 people have died.

Two firefighters battling the Silverado Fire are at the hospital in critical condition after suffering severe burns all over their bodies, Orange County Fire Chief Brian Fennessey said. Three other firefighters were injured as well, but less seriously.

At one point the winds were so intense that tractors overturned and forced the suspension of the water jet planes. On Tuesday the winds subsided, and the meteorological service predicted that this trend will continue for the rest of the week.

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Correspondents Christopher Weber in Los Angeles and Olga R. Rodriguez in San Francisco contributed to this story.

MIT recommends the nomination of Bettina Wiesmann

news

CDU Mittelstandsvereinigung Frankfurt proposes her again as Member of the Bundestag

by Norbert Dörholt

(28.10.2020) On Monday, October 19, the district board of the Mittelstands- und Wirtschaftsvereinigung of the Frankfurt CDU (MIT) unanimously nominated the CDU member of the Bundestag, Bettina M. Wiesmann, who was directly elected in constituency 183 (North, East and South of Frankfurt) for the coming election period recommended.

The MIT district chairman Boris Rhein said: “Bettina Wiesmann is a member who represents Frankfurt in Berlin with great commitment and competence. With her focus on family, educational and social policy, she addresses many topics that are of great importance for our international and particularly European-influenced city. Your work in the Family Committee and the Children’s Commission of the Bundestag, e.g. in the areas of protecting children from abuse and violence, youth media protection and digital education, family and youth policy as well as dealing with sexual development in a dignified manner, affects the Union parliamentary group’s priorities in this legislative period. In addition, their focus is on strengthening the economic and financial location of Frankfurt / Rhine-Main, especially with a view to Brexit and the pandemic-related economic slump, and, for example, to prevent nonsensical projects such as a financial transaction tax. After all, she was involved in the Defense Committee and repeatedly put important security issues up for discussion in the constituency. “

“Bettina Wiesmann, who had previously been my colleague in the Hessian state parliament for almost ten years and was previously a local councilor in the Nordend, knows about the importance of the federal division of tasks in our state,” continued Rhein. “That is why she is always looking for solidarity with the state of Hesse and the city of Frankfurt and advocates effective solutions across all levels, for example in school, science or transport policy.”

Wiesmann himself said: “I am very happy about this vote of confidence from MIT. In view of the current challenge of the pandemic, which we must neither dramatize nor relativize, but also in the run-up to two important elections in the coming year, such a recommendation helps us to continue our work with all our might and wisdom. The decision itself must of course be made in due course by the constituency assembly. “

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VOX is not an anti-European party

One of the most repeated rattles against Abascal’s speech during the motion of censure has been the idea that VOX is a Europhobic party that wants to remove Spain from the European Union. It is proven once again that in our country a very primitive and simple Europeanism has permeated, which understands any criticism against the European Union as an unforgivable mortal sin. Even highly educated people incur it, who do not feel rejection of the VOX program in advance, but who tear their clothes at the slightest reminder that not everything that the current EU advocates suits us.

It seems as if that Ortega’s maxim that stated that “Spain is the problem and Europe is the solution.” Many Spaniards believe in that phrase at face value, without realizing that when our great philosopher wrote these words, the properly European thing was to get into World War I., that immense and filthy slaughterhouse that left Europe heading towards communism and towards “fascisms”. That stupid motto was the one that encouraged our Italian and Portuguese cousins ​​to take part in the Great War in order to “be European”, and the only thing they reaped was a few thousand dead and no modernization. Luckily, our Restoration politicians, who are so badly talked about today, did not take it for being so submissively “European”.

The ideal of building a well-balanced Europe was the dream of politicians, mostly Catholics, and of strong humanistic convictions. Y Admittedly, for some years, the design was successful not only in terms of general prosperity, but in overcoming the nationalistic hatreds that had bloodied the continent. But the successful project of Robert Schumann, Jean Monnet, Alcide de Gasperi and Konrad Adenauer was followed by relativistic, secularist politicians and openly opposed to the values ​​that made Europe great. So we would not do any service to Spain or Europe if we uncritically joined, as the PSOE and PP do, the globalist and bureaucratic project that wants to make Spain a secondary pawn of France and Germany. Just after Brexi, Europe should open a process of reflection about what it wants to be, and Spain can and must play a leading role in this debate.

At VOX we are aware that the mere existence of the euro is a certain guarantee against a populist drift of the government that we suffer, in the sense that With our own currency we could already be like Venezuela. From Europe we have received a lot of money through the famous ERDF funds, and now we expect significant help with the very serious economic crisis that we already have. But putting your fate in the hands of your creditors is not in itself a blessing. From Europe we received a lot of funds in the past that allowed us first-rate infrastructure, but we also dismantled our industry at their request and now we see how crazy that option is.

Just as a family that lives beyond its means puts itself in the hands of its bank – which can be a usurer – so it can happen to our country. When Europe lends us the money we are going to need, it is very likely that it will put up very tough conditions. We are not going to like many of these demands, and we are not even sure that such claims will be fair, in the sense that there will be “innocent” sectors that will suffer in their flesh, which means paying the loan with all the interest that they are going to give us so “generously”. When we are told what we have to cut back on to return what we already need, we will see the dramatic consequences of having renounced our financial sovereignty.

In any case, our reluctance towards the EU is not based solely on economic factors. We insist that many good things have come from there, but Many of us do not understand the mania of the European courts to always agree with the enemies of Spain. Of course, if the same Spanish politicians are sympathetic to the Basque and Catalan separatists, we are not going to expect foreign judges to become Agustina de Aragón either. But the truth is that the balance of our integration since that distant 1986 is not all the positive that they want to sell us. And, surely, the main responsible for these negative effects have been the Spanish politicians, those of the PPSOE of always, who They did not defend our interests responsibly, and submitted themselves in a lazy way to the interests of others.

Many politicians scoff at the complaint that Abascal made of that almighty millionaire named George Soros, whose tentacles branch out throughout the European institutions. And they call these accusations conspiracy, without bearing in mind that Soros himself does not hide his intention to fragment Spain, turning it into a mosaic of antagonistic mini-republics. So that Those who scoff at these denunciations are either completely ignorant or simply accomplices of this disintegrating will.

If they rush us, where is it written that Spain has to renounce having its own foreign policy, not subject to what the Brussels elite say? Our country can and should exercise its leading role in Latin America and throughout the world, without having to subordinate its message to any community authority. Is that a crime? And, on the other hand, why do we have to adopt gender ideology, climate alarmism, free abortion and euthanasia to be a Europeanist? Because those are the predominant “values” in today’s Europe, the ones that want to be imposed by force on countries like Poland or Hungary.

What VOX advocates, therefore, is an EU that involves loyal collaboration and cooperation at all levels – economic, political, cultural, military … – between free and sovereign states. As simple as that. The most essential core of the still current Spanish Constitution is national sovereignty, that is, the idea that the Spanish people have the last instance when making political decisions. So these pro-Europeanists who want to dilute our nation into a superior organization without borders defend ideas that are profoundly unconstitutional, probably as coup and anti-Spanish as those of Puigdemont or Otegui, although they disguise themselves as moderation and prudence.

Definitely, We say yes to Europe, but to that of the founding fathers, and not to the Masonic monstrosity that it has become in recent times.

Tormenta Archives – New Jersey Hispano

A hurricane warning for the Yucatan Peninsula was extended from Tulum to Dzilam, including Cancun and Cozumel. This satellite image provided by the National Oceanic and Atmospheric Administration shows Tropical Storm Zeta, on Sunday, October 25, 2020 at 2110 GMT. This satellite image provided by the National Oceanic and Atmospheric Administration shows …

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