AGAIN.
WE'RE BETTER BY 102 POINT.
I WANT TO BRING INTO THE
CONVERSATION AMBASSADOR ANTHONY
GARDNER, HE IS LIVE IN LONDON
AND A FOX BUSINESS EXCLUSIVE.
HE WAS THE U.S. AMBASSADOR TO
THE EUROPEAN UNION.
SO WE ARE THRILLED THAT YOU ARE
JOINING US.
GIVE ME YOUR INITIAL GUT
REACTION AND SENSE OF WHAT
HAPPENS NEXT, AMBASSADOR.
>> IT'S GREAT TO BE BACK ON THE
PROGRAM.
CLEARLY A HUMILIATING DEFEAT,
WHICH IS THE RESULT, I HATE TO
SAY IT, OF OVER TWO YEARS OF
FAILING TO BE STRAIGHT WITH THE
BRITISH PEOPLE ABOUT THE REAL
CHOICES ON THE TABLE AND THE
COSTS AND THE BENEFITS OF EACH
OF THOSE OPTIONS.
BUT WE ARE WHERE WE ARE.
I THINK SHE'S GOING TO BE UNDER
ENORMOUS PRESSURE NOW TO MAKE
TWO STATEMENTS.
THE FIRST IS THAT THE COUNTRY,
THE U.K. WILL NOT CRASH OUT
WITHOUT A DEAL.
THERE IS A PRESSURE FROM THE
BUSINESS COMMUNITY TO MAKE THAT
STATEMENT.
THE SECOND IS THAT THERE WILL BE
A REQUEST TO EXTEND THE ARTICLE
50 PROCESS, MORE TIME CLEARLY IS
NEEDED.
THE RESULT OF TODAY'S VOTE,
WHICH WAS DRAMATIC, YOU KNOW,
THE GOVERNMENT WAS HOPING FOR
MAYBE A LOSING BY 50, MAYBE 100
MAX.
SHE LOST BY OVER 200 VOTES.
THE CONSEQUENCES OF THIS STEM
FROM A GAME OF CHICKEN THAT WENT
REALLY BADLY WRONG.
SHE WAS SAYING YOU ACCEPT MY
DEAL OR YOU KNOW, CATASTROPHE.
THE PROBLEM IS A LOT OF THE
FACTIONS ACTUALLY WANT THERE TO
BE A NO DEAL IN THE CASE OF THE
HARD LEVERS, IN THE CASE OF
LABOUR, THEY WANT DEFEAT FOR THE
GOVERNMENT TO TABLE A NO
CONFIDENCE MOTION.
AND THERE'S SOME WHO BELIEVE
THAT SAYING NO TO HER DEAL WILL
RESULT IN THE PEOPLES VOTE.
LIZ: WE WERE JUST SHOWING VIDEO
OF THE ACTUAL MOMENT.
I DON'T KNOW IF YOU SAW THE
VIDEO EARLIER OF THERESA MAY
WHERE SHE LITERALLY WENT LIKE --
YOU COULD SEE THE FRUSTRATION.
AMBASSADOR, THAT LEADS ME TO THE
QUESTION, HOW MUCH OF THE FAULT
LIES ON HER SHOULDERS WHEN IT
COMES TO A FAILURE OF PROPER AND
CLEAR CONCISE COMMUNICATION OF
THE PROS AND THE CONS TO EXPLAIN
THIS?
YOU KNOW, I'M NOT ON THE GROUND
THERE, BUT COULD THAT JOB HAVE
BEEN DONE MORE EFFECTIVELY?
>> WELL, I VIEW ABSOLUTELY YES.
I HAVE BEEN FOLLOWING THIS FOR
TWO YEARS.
A LOT OF DELUSIONS WERE
ENTERTAINED, UNFORTUNATELY, BY
ALL SIDES, BUT PARTICULARLY I
THINK BY THIS GOVERNMENT, NOT
BEING STRAIGHT ABOUT REALLY WHAT
THE U.K.'S NEGOTIATING LEVERAGE
WAS AND IS, WHAT THE EU COULD
POSSIBLY ACCEPT, AND WHAT THE
CONSEQUENCES OF THE REAL
DECISIONS OF THE OPTIONS ON THE
TABLE WERE.
SO MY VIEW A LOT OF UNNECESSARY
TIME HAS BEEN WASTED.
YOU KNOW, SHE CAN NOW GO BACK
AND SEEK TO GET FURTHER
CLARIFICATIONS FROM THE EU,
WHICH SOUNDS LIKE WHAT SHE
INTENDS TO DO, BUT THERE'S NOT
MUCH MORE THAT THE EU CAN DO
BEYOND WHAT IS ALREADY SAID IN A
LETTER THAT WAS SENT BY THE
PRESIDENT OF THE EUROPEAN
COMMISSION, EUROPEAN COUNCIL,
YESTERDAY TO MAY, IN WHICH THEY
TRIED TO CLARIFY WHAT THIS
BACKSTOP MEANS AND THAT THEY
INTEND TOGETHER WITH THE U.K. TO
MAKE IT TEMPORARY --
LIZ: CAN WE -- AS YOU'RE
TALKING, AMBASSADOR, I WANT TO
GIVE AN UPDATE.
THE EUROPEAN BANKS ARE MOSTLY
LOWER EXCEPT FOR DEUTSCHE BANK
WHICH IS UP A QUARTER OF A
PERCENT.
BUT NONE OF THESE ARE U.K. BANKS
AT THE MOMENT, ON THE SCREEN.
WE DO HAVE OUR DOW JONES
INDUSTRIALS UP 133 POINTS.
AND AS YOU'RE TALKING, I DON'T
KNOW IF WE CAN PUT UP WHAT
THERESA MAY'S BREXIT DEAL WAS,
BUT IN ESSENCE, IT ALLOWED A
RELATIONSHIP TO CONTINUE WITH
THE EUROPEAN UNION INVOLVING
THIS CROSS BORDER TRADE WITH
NORTHERN IRELAND AND IRELAND.
YOU WOULD HAVE TO THOUGH BE
BEHOLDEN TO THE EU'S
REGULATIONS.
IT IS LIKE BEING PART OF A GOLF
CLUB.
IF YOU LEAVE THE GOLF CLUB, YOU
DON'T GET TO PLAY THERE ANYMORE,
BUT YOU DON'T HAVE PAY THE DUES.
IF YOU LEAVE THE GOLF CLUB AND
WANT TO PAY ON OCCASION AND PLAY
ON OCCASION, YOU ARE STILL
SUBJECT TO THEIR RULES.
IS THAT SORT OF THE PROBLEM THAT
PEOPLE WHO VOTED NO ON THIS HAD?
>> I THINK YOU PUT YOUR FINGER
ON IT.
YOU KNOW, THE PROBLEM FOR MANY
YEARS HAS BEEN THE U.K. WHEN IT
WAS, STILL IS A MEMBER OF THE
EU, TRIED TO HAVE ALL THE
BENEFITS OF NOT BEING A MEMBER,
THROUGH A LOT OF OPT-OUTS.
NOW IT TOOK A DECISION TO LEAVE,
BUT WANTED TO HAVE ALL THE
BENEFITS OF BEING A MEMBER.
YOU CAN'T HAVE IT BOTH WAYS.
IF YOU LEAVE, YOU ACTUALLY
LEAVE, AND HER DEAL TRIED TO
STRADDLE THIS UNCOMFORTABLE
POSITION OF BEING OUT BUT
ACTUALLY BEING IN FOR MANY
PURPOSES.
RIGHT?
YOU KNOW, THE PROBLEM HAS BEEN
AS YOU SAID THE BACKSTOP.
MANY PEOPLE HAD HOPED THAT THE
U.K. WOULD HAVE A UNILATERALLY
RIGHT OF DECISION -- UNILATERAL
RIGHT OF DECISION TO TERMINATE
THE BACKSTOP.
THE EU SAID NO WE CAN'T DO THAT.
WE WILL ISSUE A CLARIFICATION TO
SAY WE WILL WORK EXPEDITIOUSLY
FOR AN ALTERNATIVE ARRANGEMENT,
FREE TRADE AGREEMENT THAT WILL
MAKE THE BACKSTOP NO LONGER
NECESSARY.
IF WE CAN'T REACH THAT DEAL BY
DECEMBER 2020, EITHER WE EXTEND
THE TRANSITION OR WE WILL
CONTINUE TO NEGOTIATE TO A DEAL
THAT WILL NO LONGER MAKE IT
NECESSARY.
BUT THE U.K. CANNOT HAVE A
UNILATERAL RIGHT TO TERMINATE
IT.
LIZ: AMBASSADOR, GREAT TO HAVE
YOU.
THANK YOU FOR STAYING UP LATE
THERE.
WE DO APPRECIATE IT.
AMBASSADOR ANTHONY GARDNER, AND
I DO JUST WANT TO QUICKLY LET
YOU KNOW THAT THE BREXIT