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Why was the next pm market closed and then re-opened?

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Replies: 745
By:
matty1
When: 21 Jun 17 10:01
Of course the Dup can enter into an agreement with the tories, even the Irish Taoiseach said that he was “very much reassured by what the prime minister had to say, that the agreement, once it is reached, will be published so it will be there for everyone to see.”
By:
Angela Rebecchi
When: 21 Jun 17 11:55
No one knows officially the formation of the next government, so they've got to wait for it to be finalised which it still hasn't.
By:
borgboy
When: 21 Jun 17 12:00
Should NOT be settled until after the vote, and until it is absolutely certain that nobody else can become PM (even if May only ends up surviving for a few days/weeks afterwards).
DUP asking for £1 billion++ 
Blimey. Magic money tree...
By:
matty1
When: 21 Jun 17 12:04

Jun 21, 2017 -- 12:00PM, borgboy wrote:


Should NOT be settled until after the vote, and until it is absolutely certain that nobody else can become PM (even if May only ends up surviving for a few days/weeks afterwards). DUP asking for £1 billion++  Blimey. Magic money tree...


source?

By:
matty1
When: 21 Jun 17 12:06

Jun 21, 2017 -- 11:55AM, Angela Rebecchi wrote:


No one knows officially the formation of the next government, so they've got to wait for it to be finalised which it still hasn't.


There is a tory minority government, officially, until such time as there is a vote of no confidence.

By:
matty1
When: 21 Jun 17 12:07
for avoidance of doubt

https://www.gov.uk/government/uploads/system/uploads/.../cabinet-manual.pd
By:
borgboy
When: 21 Jun 17 12:41
"The Queen’s Speech is the FIRST STEP in Theresa May forming her new Government..."


https://www.express.co.uk/news/politics/816186/When-is-the-Queens-Speech-vote-Theresa-May-Jeremy-Corbyn-parliament-state-opening/amp

(Source of the DUP demanding £1 billion (for health services) + other demands = BBC live coverage, a few mins ago)

BBC also confirming that TM still has no formal mandate to govern!
A government is one which governs. She may be deluding herself, and attempting to fool everyone else, but it's just not working. It's a house of cards, which could collapse at any moment.

BF should NOT settle until after the vote. End of.
By:
borgboy
When: 21 Jun 17 12:51
It couldn't be clearer really - TM is still attempting to form a government.
The BF market rules state the formation of a government, as being the settlement criteria,  (ie NOT just the first to attempt to!).

"I can still be Prime Minister. This is still on. Absolutely[/i]." - JC
By:
Frankie The Hustler
When: 21 Jun 17 12:53
Betfair have acknowledged "the Queen assent has been given", but are saying there is "still no confirmation that the government has been formed"
By:
matty1
When: 21 Jun 17 13:03

Jun 21, 2017 -- 12:41PM, borgboy wrote:


"The Queen’s Speech is the FIRST STEP in Theresa May forming her new Government..."  https://www.express.co.uk/news/politics/816186/When-is-the-Queens-Speech-vote-Theresa-May-Jeremy-Corbyn-parliament-state-opening/amp(Source of the DUP demanding £1 billion (for health services) + other demands = BBC live coverage, a few mins ago) BBC also confirming that TM still has no formal mandate to govern! A government is one which governs. She may be deluding herself, and attempting to fool everyone else, but it's just not working. It's a house of cards, which could collapse at any moment. BF should NOT settle until after the vote. End of.


If you believe everything printed in the papers you deserve everything you get.

This is the current constitution :

Elections and government formation
General elections
2.1 General elections allow voters on the electoral roll to cast their ballot for an
MP to represent them in the House
of Commons. In accordance with the Fixed-term Parliaments Act 2011, general elections must normally be held on the  rst Thursday in May every  ve years1 (although see paragraphs 2.2 and 2.3 below). Parliament is dissolved before such an election. Dissolution occurs automatically, 17 working days before the next election (see paragraph 2.22 for more on dissolution). Parliament meets on the date determined by the issue by Her Majesty
in Council of a proclamation summoning a new Parliament. That date may be postponed by a subsequent proclamation under the Prorogation Act 1867.2
2.2 Once Parliament is dissolved, the Fixed- term Parliaments Act 2011 gives authority for the issue of writs for the election of a new House of Commons (a writ is a formal written order). Writs are issued under the Representation of the People Act 1983
by the Clerk of the Crown in Chancery, who is also Permanent Secretary to the Ministry of Justice, to Returning Of cers in Great Britain, and by the Clerk of the Crown for Northern Ireland to Returning Of cers in Northern Ireland, and require them to cause elections to be held and to return the writ with the election result for their constituency. Writs of summons
are also issued to all Members of the House of Lords to summon them to a new Parliament.
2.3 The election process and a more detailed election timetable (derived from the Representation of the People Act 1983)
is set out at the annex to this Manual. Candidates must submit nomination papers not later than the sixth working day after the date of the dissolution of Parliament.3
Meeting of the new Parliament
2.4 The date of the  rst meeting of a new Parliament is determined by a proclamation issued by the Sovereign, on the advice
of the Prime Minister. Recent practice
had been for Parliament to meet on
the Wednesday following the election.
In 2007, the Select Committee on the Modernisation of the House of Commons recommended a reversion to the previous practice of having an interval of 12 days between polling day and the  rst meeting of Parliament.4 This was adopted in 2010.
2.5 The  rst business of the House of Commons when it meets is to elect or re-elect a Speaker and for Members to take the oath.5 The  rst business of the House of Lords is also for its Members to take
the oath.6 Normally the Queen’s Speech outlining the Government’s legislative programme will take place in the second week of Parliament’s sitting and is followed
13
The Cabinet Manual
by four or  ve days of debate.7 This is when the business of the new Parliament properly begins.
2.6 The election of the Lord Speaker is not dependent on a general election: it
takes place on a day no later than 15 July in the  fth calendar year after the previous election of the Lord Speaker. The last took place on 13 July 2011. Where a dissolution of Parliament has been announced the election either takes place on the date set for the election of a new Lord Speaker or on a day no later than one month after the State Opening, whichever is later.8
The principles of government formation
2.7 The ability of a government to command the con dence of the elected House of Commons is central to its authority to govern. It is tested by votes on motions
of con dence, or no con dence.9 See paragraph 2.19 on  xed-term Parliaments and votes of no con dence. Commanding the con dence of the House of Commons is not the same as having a majority or winning every vote.
2.8 Prime Ministers hold of ce unless and until they resign. If the Prime Minister resigns on behalf of the Government, the Sovereign will invite the person who appears
most likely to be able to command the con dence of the House to serve as Prime Minister and to form a government.10
2.9 Historically, the Sovereign has made use of reserve powers to dismiss a Prime Minister or to make a personal choice of successor, although this was last used in 1834 and was regarded as having undermined
the Sovereign.11 In modern times the convention has been that the Sovereign should not be drawn into party politics, and if there is doubt it is the responsibility of those involved in the political process, and in particular the parties represented
in Parliament, to seek to determine and communicate clearly to the Sovereign who is best placed to be able to command the con dence of the House of Commons.
As the Crown’s principal adviser this responsibility falls especially on the incumbent Prime Minister, who at the time of his or her resignation may also be asked by the Sovereign for a
recommendation on who can best command the con dence of the House of Commons in his or her place.
2.10 The application of these principles depends on the speci c circumstances and it remains a matter for the Prime Minister, as the Sovereign’s principal adviser, to judge the appropriate time at which to resign, either from their individual position as Prime Minister or on behalf of the government.12 Recent examples suggest that previous Prime Ministers have not offered their resignations until there was a situation
in which clear advice could be given to
the Sovereign on who should be asked
to form a government.13 It remains to be seen whether or not these examples will be regarded in future as having established a constitutional convention.
Parliaments with an overall majority in the House of Commons
2.11 After an election, if an incumbent government retains an overall majority – that is, where the number of seats won
by the largest party in an election exceeds the combined number of seats for all the other parties in the new Parliament – it will normally continue in of ce and resume normal business. There is no need for
the Sovereign to ask the Prime Minister
to continue. If the election results in an overall majority for a different party, the incumbent Prime Minister and government will immediately resign and the Sovereign will invite the leader of the party that has won the election to form a government. Details on the appointment of the Prime Minister and ministers can be found in Chapter Three.
Parliaments with no overall majority in the House of Commons
2.12 Where an election does not result in
an overall majority for a single party,
the incumbent government remains in of ce unless and until the Prime Minister tenders his or her resignation and the Government’s resignation to the Sovereign. An incumbent government is entitled to wait until the new Parliament has met to see if it can command the con dence of the House of Commons, but is expected to
14
resign if it becomes clear that it is unlikely
to be able to command that con dence
and there is a clear alternative. or
2.13 Where a range of different administrations could potentially be formed, political
parties may wish to hold discussions to establish who is best able to command
the con dence of the House of Commons and should form the next government. The Sovereign would not expect to become involved in any negotiations, although there are responsibilities on those involved in
the process to keep the Palace informed. This could be done by political parties or the Cabinet Secretary. The Principal Private Secretary to the Prime Minister may also have a role, for example, in communicating with the Palace.
2.14 If the leaders of the political parties involved in any negotiations seek the support of the Civil Service, this support may only be organised by the Cabinet Secretary with the authorisation of the Prime Minister. If the Prime Minister authorises any support it would be focused and provided on an equal basis to all the parties involved, including the party that was currently in government. The Civil Service would continue to advise the incumbent government in the usual way.
2.15 Following the election in May 2010, the Prime Minister authorised the Civil Service to provide such support to negotiations between political parties.14
2.16 As long as there is signi cant doubt following an election over the Government’s ability to command the con dence of the House of Commons, certain restrictions on government activity apply; see paragraphs 2.27–2.34.
2.17 The nature of the government formed will be dependent on discussions between political parties and any resulting agreement. Where there is no overall majority, there are essentially three broad types of government that could be formed:
• single-party, minority government, where the party may (although not necessarily) be supported by a series of ad hoc agreements based on common interests;
• formal coalition government, which generally consists of ministers from more than one political party, and typically commands a majority in the House of Commons.15
Change of Prime Minister or government during a Parliament
2.18 Where a Prime Minister chooses to resign from his or her individual position at a time when his or her administration has an overall majority in the House of Commons, it is for the party or parties in government to identify who can be chosen as the successor.16
2.19 Under the Fixed-term Parliaments Act 2011, if a government is defeated on a motion that ‘this House has no con dence in Her Majesty’s Government’, there is
then a 14-day period during which an alternative government can be formed from the House of Commons as presently constituted, or the incumbent government can seek to regain the con dence of the House.17 If no government can secure the con dence of the House of Commons during that period, through the approval of a motion that ‘this House has con dence in Her Majesty’s Government’, a general election will take place. Other decisions
of the House of Commons which have previously been regarded as expressing ‘no con dence’ in the government no longer enable or require the Prime Minister to hold a general election. The Prime Minister is expected to resign where it is clear that he or she does not have the con dence of the House of Commons and that an alternative government does have the con dence.
2.20 Where a range of different administrations could be formed, discussions may take place between political parties on who should form the next government. In these circumstances the processes and considerations described in paragraphs 2.12–2.17 would apply.
• formal inter-party agreement, for example the Liberal–Labour pact from 1977 to 1978;
Chapter Two
15
The Cabinet Manual
Pre-election contact with opposition parties
2.21 At an appropriate time towards the end of any Parliament, as the next general election approaches, the Prime Minister writes to the leaders of the main opposition parties to authorise pre-election contacts with
the Civil Service.18 The meetings take place on a con dential basis, without ministers being present or receiving a report of discussions. The Cabinet Secretary has overall responsibility for co-ordinating this process once a request has been made and authorised by the Prime Minister. These discussions are designed to allow the Opposition’s shadow ministers to ask questions about departmental organisation and to inform civil servants of any organisational changes likely to take place in the event of a change of government. Senior civil servants may ask questions about the implications of opposition parties’ policy statements, although they would not normally comment on or give advice about policies.
Dissolution of Parliament
2.22 Parliaments dissolve automatically 17 working days before the date of the next election.19 This date will ordinarily be the  rst Thursday in May  ve years after the day on which the Parliament was elected, unless an early election is held in accordance
with the provisions of the Fixed-term Parliaments Act 2011 or the Prime Minister has exercised his or her power to defer the election by up to two months because of an emergency. No further formality is required for dissolution in accordance with the Act, but a proclamation is required to summon a new Parliament for a speci ed date.
2.23 Early elections may take place in two circumstances. The  rst is where two- thirds of the membership of the House of Commons agree that it is right that there should be a general election immediately and pass a motion ‘that there shall be an early Parliamentary general election’. The other circumstance is where a government has lost a motion that ‘this House has no con dence in Her Majesty’s Government’ and no government has, within a 14-day
period, secured a motion that ‘this
House has con dence in Her Majesty’s Government’. In either of these cases, the date of the election is set by the Sovereign by Proclamation on the advice of the Prime Minister and dissolution occurs 17 working days before the date appointed for the election. Proclamations are issued by Her Majesty in Council.
2.24 Parliament may be prorogued before being dissolved or may just adjourn. It has not been modern practice for Parliament to be dissolved while sitting. Prorogation brings
a Parliamentary session to an end. It is the Sovereign who prorogues Parliament on the advice of his or her ministers. The normal procedure is for commissioners appointed by the Sovereign to prorogue Parliament in accordance with an Order in Council. The commissioners also declare Royal Assent
to the bills that have passed both Houses, so that they become Acts, and then they announce the prorogation to both Houses in the House of Lords.20
2.25 It is not necessary for Parliament to
have been prorogued in order for it to
be dissolved. In 1992, 1997, 2005 and 2010 Parliament was dissolved following prorogation, but in 2001 and for all the elections in the 1970s and 1980s after the 1970 election, Parliament was dissolved while adjourned without a prorogation.
Finalisation of Parliamentary business
2.26 Where an early general election takes place, the date appointed for the poll may enable Parliament to sit for a few days before dissolution, known as the ‘wash-up’ period. Dissolution occurs automatically
17 working days before the date appointed for the election. Some business may have to be completed before the dissolution.
In particular, any money voted to the Government but not appropriated has
to be appropriated by the date of the dissolution21 and, depending on the time of year, it may be necessary to do other business to keep government working while Parliament is unavailable because of the dissolution.
16
Restrictions on government activity
2.27 While the government retains its responsibility to govern and ministers remain in charge of their departments, governments are expected by convention to observe discretion in initiating any new action of
a continuing or long-term character in the period immediately preceding an election, immediately afterwards if the result is unclear, and following the loss of a vote
of con dence. In all three circumstances essential business must be allowed
to continue.22
Government activity between the start of an election period and polling day
2.28 In the period immediately preceding an election, the Cabinet Of ce publishes guidance on activities in the run up to polling day.23 The Prime Minister writes to ministers in similar terms.
2.29 During this period, the government retains its responsibility to govern, ministers remain in charge of their departments and essential business is carried on.24 Ministers continue in of ce and it is customary for them to observe discretion in initiating any action
of a continuing or long-term character. This means the deferral of activity such
as: taking or announcing major policy decisions; entering into large/contentious procurement contracts or signi cant long- term commitments; and making some senior public appointments and approving Senior Civil Service appointments, provided that such postponement would not be detrimental to the national interest or wasteful of public money. If decisions cannot wait they may be handled by temporary arrangements or following relevant consultation with the Opposition.
Activity post election
2.30 Immediately following an election, if there is no overall majority, for as long as there is signi cant doubt over the Government’s ability to command the con dence of
the House of Commons, many of the restrictions set out at paragraphs 2.27–2.29 would continue to apply. The point at which the restrictions on  nancial and other commitments should come to an
end depends on circumstances, but may often be either when a new Prime Minister is appointed by the Sovereign or where
a government’s ability to command the con dence of the Commons has been tested in the House of Commons.
Activity following loss of con dence
2.31 If a government loses a vote that ‘this House has no con dence in His or Her Majesty’s Government’, it will remain in of ce during the government formation period of up to 14 days, until a government has secured the con dence of the House of Commons, or no government has secured such con dence and Parliament is dissolved 17 working days before the date set for the early general election. During that period the restrictions in paragraphs 2.27–2.29 would apply.
Directions during a period of restrictions on government activity
2.32 The rules under which an accounting of cer may seek a direction from a minister (where the of cer has an objection to a proposed course of action on grounds of propriety, regularity or value for money relating to proposed expenditure) continue to apply during the three periods described above. The principles set out in paragraphs 2.27–2.29, as appropriate, will be relevant to the application of those rules.
2.33 In normal circumstances (as set out in Chapter Ten: Government  nance and expenditure), a ministerial direction
to an accounting of cer is sent to the Comptroller and Auditor General (C&AG) who will normally forward it to the Committee of Public Accounts. It should also be copied to the Treasury Of cer
of Accounts. During any period when Parliament is prorogued or dissolved, if the occasion for any such directions arose, and taking account of issues of commercial or other sensitivity, the direction, together with the reasoning provided by the accounting of cer, should be made public immediately by the department and laid before both Houses at the  rst opportunity after Parliament meets. The direction should also be sent to the C&AG and copied to the Treasury Of cer of Accounts
Chapter Two
17
The Cabinet Manual
at the time of publication.
Other elections
2.34 Some more limited restrictions on government activity also apply during other elections: to the European Parliament,
the Devolved Administrations and local government. The guidance issued by the Cabinet Of ce for the May 2011 elections provides an example.25

By:
matty1
When: 21 Jun 17 13:07
If you can't read this easily,it is from the Cabinet Manual on the parliament website.
By:
matty1
When: 21 Jun 17 13:38
Latest from Betfair just now

This is the update we have just received from the Exchange team. Our rules clearly state "This market will be settled on the formation of the first ministry (government) after assent is given by the reigning monarch after the next UK general election." There is still no confirmation that a government has been formed even though assent has been given therefore we are not settling yet.
By:
borgboy
When: 21 Jun 17 13:44
What a waste of time.  If you read rubbish like that, you deserve everything you get.

The Market Rules are infinitely more important.

"If there is any ambiguity as to who occupies the position, then Betfair reserves the right to void this market at its absolute discretion.

Betfair expressly reserves the right to suspend and/or void any and all bets on this market at any time in the event that Betfair is not satisfied (in its absolute discretion) with the certainty of the outcome.

So, who cares what a Cabinet manual says? BF are using common sense.

TM is still the old PM, she is NOT the "new" one yet (for the purposes of either this market, or the country in general!)

"she is in office, but not in power" - Laura Kuensberg (BBC Political Editor)

A government is one with the power to govern. TM currently holds ZERO power, and no mandate with which to govern.  She is STILL trying to cobble together a working government.

Stop trying to cloud the issue, and just read the market rules! That's all that matters, ultimately. "Absolute discretion" renders your cabinet manual effectively pointless. 

Hope that helps ;)
By:
borgboy
When: 21 Jun 17 13:45

Jun 21, 2017 -- 1:38PM, matty1 wrote:


Latest from Betfair just nowThis is the update we have just received from the Exchange team. Our rules clearly state "This market will be settled on the formation of the first ministry (government) after assent is given by the reigning monarch after the next UK general election." There is still no confirmation that a government has been formed even though assent has been given therefore we are not settling yet.


Lol... There you go then! Nice one. Cheers Matty :D

By:
Fatslogger
When: 21 Jun 17 13:55

Jun 21, 2017 -- 1:07PM, matty1 wrote:


If you can't read this easily,it is from the Cabinet Manual on the parliament website.


I can cope with some dry documents but I'm not reading that whatever the formatting!

Kind of agree with the notion that today doesn't make May much if at all more obviously new PM than before.

By:
kevinglass
When: 21 Jun 17 14:04
So if tomorrow the PM announces a DUP deal do we get settlement then.....as that in effect means she has the numbers. Or do we need it tested by the first Queens speech vote?

Still not sure.
By:
bingo bongo
When: 21 Jun 17 14:34
So betfair make a statement to clarify their position without actually clarifying what they are waiting for, brilliant.
By:
adge
When: 21 Jun 17 14:48
that's politics for you , bingo bongo
By:
matty1
When: 21 Jun 17 15:20
Even Jeremy Corbyn in his latest answer to the Queens Speech, moments ago, referred to the Tory party as the minority government, which it is.
By:
kevinglass
When: 21 Jun 17 15:28
Ask him to phone Betfair, maybe they'd listen.

So either (a) They need an official announcement re the DUP deal or (b) They need to pass the first vote on the Queens speech.

Would be nice if Betfair perhaps clarified. Surely it can't go past the vote??!!
By:
Fatslogger
When: 21 Jun 17 15:38
It's inconceivable the market won't settle if the Queen's Speech is voted through. The more interesting question is what would settle it in the interim. I think an announcement by the DUP would do it but I think they've had too much fun pr1ck teasing the Tories to own up to an agreement, even if there is one.
By:
matty1
When: 21 Jun 17 16:39
pnam, has bet365 settled, yet.
By:
pnam
When: 21 Jun 17 17:43

Jun 21, 2017 -- 4:39PM, matty1 wrote:


pnam, has bet365 settled, yet.


Nope, I took the earlier Twitter somment I posted with a pinch of salt. They seem to be as undecided as Betfair, just picked their latest response on Twitter again:

https://twitter.com/bet365/status/877555861144653829

By:
pnam
When: 21 Jun 17 17:47
Should also add that Smarkets haven't settled either, I've got no idea what their position is on when they intend to close the market.
By:
luckyman
When: 21 Jun 17 18:44
888/Unibet have settled today.
By:
Sybil Thorndike
When: 22 Jun 17 00:55
Betfair hanging on to our money
By:
ufcdan
When: 22 Jun 17 07:52
Now what ? Is it cos Liz didn't put her crown on Crazy
By:
1alph1
When: 22 Jun 17 21:05
When do we think this will be settled? Any news?
By:
kevinglass
When: 23 Jun 17 13:13
God Knows, Betfair clearly don't, or they might have given us a clue by now.

I'm hoping for the DUP announcement, if not, clearly must be ok after the Queens speech vote.
By:
ufcdan
When: 23 Jun 17 14:21
Think after numerous reports on the news etc where Theresa May is referred to as the PM I think they could be on very sticky ground !
By:
ufcdan
When: 23 Jun 17 14:23
It's just came to me...............maybe anxious is in charge of payouts and can't come to terms with it, hence the delay Laugh
By:
anxious
When: 23 Jun 17 14:44
Laugh Dan i would void it all and declare a no Race
By:
Jes1981
When: 24 Jun 17 06:36
Has anyone known an even to be "in play" for this length of time? It's been that was for nearly 2 and a half weekes now.
By:
adge
When: 24 Jun 17 21:35
they will have difficulty finding any reason not to settle after the queen's speech vote is carried on tuesday afternoon
By:
adge
When: 25 Jun 17 10:40
and after listening to david davis on tv this morning i'm at a total loss as to the prices offered
i trust this will become evident on tuesday
By:
borgboy
When: 25 Jun 17 12:26
Adge... Tuesday? The vote isn't until Thursday (at the earliest. It is actually possible for it to be delayed).

Theresa May can't go out in public without being booed.
Jeremy Corbyn can't go out in public without being mobbed.

So, yeah, lump on! Crazy

"Lay, lady, lay..."
By:
spurs to buy big
When: 25 Jun 17 12:39
is May walking(perhaps citing health) the only way shes not PM ??..no Tory willing to push her +Corbyn does not have the numbers
By:
Fatslogger
When: 25 Jun 17 21:14

Jun 25, 2017 -- 12:39PM, spurs to buy big wrote:


is May walking(perhaps citing health) the only way shes not PM ??..no Tory willing to push her +Corbyn does not have the numbers


Yes, unless DUP (and everyone else) back Labour. See my working for this well up the thread. There are some other crazy scenarios but they've got to rely on nut job stuff like the Tories letting Corbyn be PM by not voting against him and even they only arise if the DUP pulls the plug on the Tories, which in itself is a very long shot, imo.

May going is also now highly unlikely - the knife would be in by now if anyone were about to stick it in and if she were going to resign that too would have happened.

By:
matty1
When: 26 Jun 17 09:05

Jun 20, 2017 -- 8:52PM, matty1 wrote:


The DUP are some of the most experienced negotiators in the Uk, I wouldn't read too much into the reports, today. They are more concerned about the negotiations re the resumption of Stormont, which has to be concluded before the 29 th. I believe an agreement with the tories on a confidence and supply arrangement will be agreed before Monday of next week. I'll post on here eating humble pie, if I'm wrong.


oops I was wrong.

https://www.theguardian.com/politics/2017/jun/25/conservatives-edge-closer-to-a-deal-with-the-dup
Looks like tomorrow, now.

By:
Jes1981
When: 26 Jun 17 11:15
DUP deal done. Details announced shortly.

Settle!
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