UK Parliament approves Brexit bill, govt to begin exit process by Mar 31

March 14, 2017

Washington, Mar 14: Britain lurched closer to leaving the European Union Monday when Parliament stopped resisting and gave Prime Minister Theresa May the power to file for divorce from the bloc.

But in a blow to May's government, the prospect of Scotland's exit from the United Kingdom suddenly appeared nearer, too. Scottish First Minister Nicola Sturgeon called for a referendum on independence within two years to stop Scotland being dragged out of the EU against its will.

Amid Britain's divorce from EU, Scotland wants Independence

In an announcement that took many London politicians by surprise, Sturgeon vowed that Scotland would not be "taken down a path that we do not want to go down without a choice." Sturgeon spoke in Edinburgh hours before the European Union (Notification of Withdrawal) Bill passed its final hurdle in Parliament's upper chamber, the House of Lords.

The House of Commons approved the bill weeks ago, but the 800-strong Lords fought to amend it, inserting a promise that EU citizens living in the U.K. will be allowed to remain after Britain pulls out of the bloc.

They also added a demand that Parliament get a "meaningful" vote on the final deal between Britain and the remaining 27 EU nations.

Both amendments were rejected Monday by the Commons, where May's Conservatives have a majority. A handful of pro-EU Conservatives expressed their unhappiness, then abstained from the vote. The bill returned to the Lords, in a process known as parliamentary ping pong. Faced with the decision of the elected Commons, the Lords backed down and approved it without amendments.

Labour peer Dianne Hayter, who proposed the amendment on EU citizens, said the Lords had done their best, but "our view has been rejected in the elected House of Commons, and it is clear the government is not for turning."

Once the bill receives royal assent - a formality that should be accomplished within hours - May will be free to invoke Article 50 of the EU's key treaty, triggering two years of exit negotiations, by her self-imposed deadline of March 31.

May was forced to seek Parliament's approval for the move after a Supreme Court ruling in January torpedoed her attempt to start the process of leaving the bloc without a parliamentary vote.

Debate between House of Commons and House of Lords

The House of Commons and House of Lords battled over the bill's contents, with the status of EU nationals in Britain - and Britons in fellow EU member countries - drawing especially emotional debate. Both British and EU officials have said such residents should be guaranteed the right to stay where they are, but the two sides have so far failed to provide a concrete guarantee, leaving millions of people in limbo.

Scottish National Party lawmaker Joanna Cherry told the House of Commons that one constituent, a Lithuanian, had told her "the uncertainty caused by this government and this Parliament is making her feel worse about her personal situation in Britain than she did in Lithuania under the Soviets."

Brexit Secretary David Davis told lawmakers the government had a "moral responsibility" to the 3 million EU citizens living in Britain and the 1 million Britons in other member states, and intends to guarantee their rights as soon as possible after exit talks start.

"That is why we must pass this straightforward bill without further delay, so the prime minister can get to work on the negotiations and we can secure a quick deal that secures the status of both European Union citizens in the U.K. and also U.K. nationals living in the EU," he said.

Pro-EU lawmakers accused the government and Brexit-backing lawmakers of running roughshod over the concerns of the 48 percent of Britons who voted to stay in the EU.

Conservative legislator Dominic Grieve called the government's opposition of handing Parliament a final vote on Brexit "deranged," and the Green Party's Caroline Lucas said lawmakers should not just hand ministers a blank check.

"We were not elected to be lemmings," Lucas said.

Euroskeptics accused pro-EU legislators of trying to frustrate the will of voters who passed a June referendum to leave the EU.

"The simple truth is this - deal or no deal, vote or no vote, positive vote or negative vote, this process is irreversible," Conservative legislator Edward Leigh said. "We're leaving the EU, and that's what the people want."

May is now free to trigger Article 50 as early as Tuesday, but the government signaled the move would come much closer to the March 31 deadline. May spokesman James Slack repeated the government's position that it would happen by the end of March.

"I've said 'end' many times, but it would seem I didn't put it in capital letters strongly enough," he said.Political union under threat

The government's satisfaction at victory in Parliament was tempered by the prospect of an independence vote that threatens the 300-year old political union between England and Scotland.

Sturgeon said she would seek to hold a referendum between the fall of 2018 and the spring of 2019 so Scottish voters could make an "informed choice" about their future. While Britons overall voted to leave the EU, Scottish voters backed remaining by 62 to 38 percent, and Sturgeon said they should not be forced to follow the rest of the U.K. into a "hard Brexit" outside the EU single market.

In a 2014 referendum, Scottish voters rejected independence by a margin of 55 percent to 45 percent. But Sturgeon said the U.K.'s decision to leave the EU had brought about a "material change of circumstances."

May - whose government would have to approve a legally binding referendum - accused Sturgeon's Scottish National Party of political "tunnel vision" and called her announcement "deeply regrettable."

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Vietnamese billionaire Truong My Lan sentenced to DEATH for $44bn fraud

News Network

April 11,2024

Real estate tycoon Truong My Lan was sentenced Thursday to death by a court in Ho Chi Minh city in southern Vietnam in the country's largest financial fraud case ever, state media Thanh Nien said.

It's a rare verdict - she is one of very few women in Vietnam to be sentenced to death for a white collar crime, i.e. looting one of the country's largest banks over a period of 11 years.

The decision is a reflection of the dizzying scale of the fraud. Truong My Lan was convicted of taking out $44bn (£35bn) in loans from the Saigon Commercial Bank. The verdict requires her to return $27bn, a sum prosecutors said may never be recovered. Some believe the death penalty is the court's way of trying to encourage her to return some of the missing billions.

The habitually secretive communist authorities were uncharacteristically forthright about this case, going into minute detail for the media. They said 2,700 people were summoned to testify, while 10 state prosecutors and around 200 lawyers were involved.

The evidence was in 104 boxes weighing a total of six tonnes. Eighty-five defendants were tried with Truong My Lan, who denied the charges.

"There has never been a show trial like this, I think, in the communist era," says David Brown, a retired US state department official with long experience in Vietnam. "There has certainly been nothing on this scale."

The trial was the most dramatic chapter so far in the "Blazing Furnaces" anti-corruption campaign led by the Communist Party Secretary-General, Nguyen Phu Trong.

A conservative ideologue steeped in Marxist theory, Nguyen Phu Trong believes that popular anger over untamed corruption poses an existential threat to the Communist Party's monopoly on power. He began the campaign in earnest in 2016 after out-manoeuvring the then pro-business prime minister to retain the top job in the party.

The campaign has seen two presidents and two deputy prime ministers forced to resign, and hundreds of officials disciplined or jailed. Now one of the country's richest women has joined their ranks.

Truong My Lan comes from a Sino-Vietnamese family in Ho Chi Minh City, formerly Saigon. It has long been the commercial engine of the Vietnamese economy, dating well back to its days as the anti-communist capital of South Vietnam, with a large, ethnic Chinese community.

She started as a market stall vendor, selling cosmetics with her mother, but began buying land and property after the Communist Party ushered in a period of economic reform, known as Doi Moi, in 1986. By the 1990s, she owned a large portfolio of hotels and restaurants.

Although Vietnam is best known outside the country for its fast-growing manufacturing sector, as an alternative supply chain to China, most wealthy Vietnamese made their money developing and speculating in property.

All land is officially state-owned. Getting access to it often relies on personal relationships with state officials. Corruption escalated as the economy grew, and became endemic.

By 2011, Truong My Lan was a well-known business figure in Ho Chi Minh City, and she was allowed to arrange the merger of three smaller, cash-strapped banks into a larger entity: Saigon Commercial Bank.

Vietnamese law prohibits any individual from holding more than 5% of the shares in any bank. But prosecutors say that through hundreds of shell companies and people acting as her proxies, Truong My Lan actually owned more than 90% of Saigon Commercial.

They accused her of using that power to appoint her own people as managers, and then ordering them to approve hundreds of loans to the network of shell companies she controlled.

The amounts taken out are staggering. Her loans made up 93% of all the bank's lending.

According to prosecutors, over a period of three years from February 2019, she ordered her driver to withdraw 108 trillion Vietnamese dong, more than $4bn (£2.3bn) in cash from the bank, and store it in her basement.

That much cash, even if all of it was in Vietnam's largest denomination banknotes, would weigh two tonnes.

She was also accused of bribing generously to ensure her loans were never scrutinised. One of those who was tried used to be a chief inspector at the central bank, who was accused of accepting a $5m bribe.

The mass of officially sanctioned publicity about the case channelled public anger over corruption against Truong My Lan, whose fatigued, unmade-up appearance in court was in stark contrast to the glamorous publicity photos people had seen of her in the past.

But questions are also being asked about why she was able to keep on with the alleged fraud for so long.

"I am puzzled," says Le Hong Hiep who runs the Vietnam Studies Programme at the ISEAS - Yusof Ishak Institute in Singapore.

"Because it wasn't a secret. It was well known in the market that Truong My Lan and her Van Thinh Phat group were using SCB as their own piggy bank to fund the mass acquisition of real estate in the most prime locations.

"It was obvious that she had to get the money from somewhere. But then it is such a common practice. SCB is not the only bank that is used like this. So perhaps the government lost sight because there are so many similar cases in the market."

David Brown believes she was protected by powerful figures who have dominated business and politics in Ho Chi Minh City for decades. And he sees a bigger factor in play in the way this trial is being run: a bid to reassert the authority of the Communist Party over the free-wheeling business culture of the south.

"What Nguyen Phu Trong and his allies in the party are trying to do is to regain control of Saigon, or at least stop it from slipping away.

"Up until 2016 the party in Hanoi pretty much let this Sino-Vietnamese mafia run the place. They would make all the right noises that local communist leaders are supposed to make, but at the same time they were milking the city for a substantial cut of the money that was being made down there."

At 79 years old, party chief Nguyen Phu Trong is in shaky health, and will almost certainly have to retire at the next Communist Party Congress in 2026, when new leaders will be chosen.

He has been one of the longest-serving and most consequential secretary-generals, restoring the authority of the party's conservative wing to a level not seen since the reforms of the 1980s. He clearly does not want to risk permitting enough openness to undermine the party's hold on political power.

But he is trapped in a contradiction. Under his leadership the party has set an ambitious goal of reaching rich country status by 2045, with a technology and knowledge-based economy. This is what is driving the ever-closer partnership with the United States.

Yet faster growth in Vietnam almost inevitably means more corruption. Fight corruption too much, and you risk extinguishing a lot of economic activity. Already there are complaints that bureaucracy has slowed down, as officials shy away from decisions which might implicate them in a corruption case.

"That's the paradox," says Le Hong Hiep. "Their growth model has been reliant on corrupt practices for so long. Corruption has been the grease that that kept the machinery working. If they stop the grease, things may not work any more."

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