Is the European Union really being unreasonable over the City of London?
Or are we seeing an inevitable consequence of a Brexit that prioritised sovereignty over financial services?
A thread…🧵💵🏦🇬🇧🇪🇺
To some extent yes – especially true among French.
But don’t discount the financial stability concerns, especially since UK ministers have said they intend to use Brexit to diverge on regulation...6/
When the UK was in the EU both co-operated to determine financial regulation.
Now there’s no institutional mechanism to force co-operation, build trust, ensure enforcement etc...8/
More from Government
Which metric is a better predictor of the severity of the fall surge in US states?
1) Margin of Democrat victory in Nov 2020 election
or
2) % infected through Sep 1, 2020
Can you guess which plot is which?
The left plot is based on the % infected through Sep 1, 2020. You can see that there is very little correlation with the % infected since Sep 1.
However, there is a *strong* correlation when using the margin of Biden's victory (right).
Infections % from https://t.co/WcXlfxv3Ah.
This is the strongest single variable I've seen in being able to explain the severity of this most recent wave in each state.
Not past infections / existing immunity, population density, racial makeup, latitude / weather / humidity, etc.
But political lean.
One can argue that states that lean Democrat are more likely to implement restrictions/mandates.
This is valid, so we test this by using the Government Stringency Index made by @UniofOxford.
We also see a correlation, but it's weaker (R^2=0.36 vs 0.50).
https://t.co/BxBBKwW6ta
To avoid look-ahead bias/confounding variables, here is the same analysis but using 2016 margin of victory as the predictor. Similar results.
This basically says that 2016 election results is a better predictor of the severity of the fall wave than intervention levels in 2020!
1) Margin of Democrat victory in Nov 2020 election
or
2) % infected through Sep 1, 2020
Can you guess which plot is which?
The left plot is based on the % infected through Sep 1, 2020. You can see that there is very little correlation with the % infected since Sep 1.
However, there is a *strong* correlation when using the margin of Biden's victory (right).
Infections % from https://t.co/WcXlfxv3Ah.
This is the strongest single variable I've seen in being able to explain the severity of this most recent wave in each state.
Not past infections / existing immunity, population density, racial makeup, latitude / weather / humidity, etc.
But political lean.
One can argue that states that lean Democrat are more likely to implement restrictions/mandates.
This is valid, so we test this by using the Government Stringency Index made by @UniofOxford.
We also see a correlation, but it's weaker (R^2=0.36 vs 0.50).
https://t.co/BxBBKwW6ta
To avoid look-ahead bias/confounding variables, here is the same analysis but using 2016 margin of victory as the predictor. Similar results.
This basically says that 2016 election results is a better predictor of the severity of the fall wave than intervention levels in 2020!
