- Joined
- Dec 13, 2015
- Messages
- 9,594
- Reaction score
- 2,072
- Location
- France
- Gender
- Male
- Political Leaning
- Centrist
In full here.
Snippets:
Brexit will prove to be a colossal blunder to the British economy, tantamount to the same happening in the US - for instance California seceding and establishing a separate nation. (Interesting option, and I wonder what the American people would think of that circumstance!)
There will be less European synergy because the Brits will no longer be privy to the important meetings that employ EU data to discuss possible policy alternatives regarding entire industries. Of which they were previously participants.
Ditto the ability to make use of EU-funds in the development of key technologies. That funding is considerable, and will impact British universities.
Moreover, they will be cut off from any discussion regarding the EU-Central Bank financial manipulations of the Euro that could impact the British pound - whereas before they had some say in the matter as an EU-member.
These, I suggest are important privileges, or (as LBJ used to say) "Better being inside the tent pissing out, than outside pissing in" ...
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Snippets:
1) Will a post-Brexit UK need a new trade deal with the European Union?
Yes. Once the UK’s formal decision to leave the EU is notified to the European council of EU leaders, under article 50 of the Lisbon treaty, the UK will be giving formal notice that it will be leaving the EU. Article 50 sets a two-year window to renegotiate a new legal basis for Britain’s trade relationship with the EU - although it also allows for an extension.
2) Will tariffs be imposed on UK goods and services under a new trade deal with the EU?
This is entirely possible and up for discussion under a grand UK-EU deal. Currently, UK companies are able to trade with the EU on a tariff free and quota free basis. During negotiations for a new trade deal, there is nothing to stop Brussels seeking to impose a 5% tariff on all UK car exports (more than eight of 10 UK-made cars are sold abroad). The UK can, of course, threaten tit-for-tat tariffs on BMW or Fiat cars, but it means consumers on both sides of the Channel suffer.
5) What happens to Britain’s financial services industry?
Britain’s financial and professional services industry – banks, accountants, corporate lawyers, investment managers is a significant contributor to GDP (around 12%, which is more than manufacturing). On Saturday, a senior figure at the European Central Bank said banks in the City of London risked being stripped of their lucrative EU “passports” that allow them to sell services to the rest of the union. The City, as the industry is better known, will want to retain that passport; otherwise it will not, for instance, be able to advise on a mega-euro takeover in Germany or sell euro-denominated products such as derivatives.
Brexit will prove to be a colossal blunder to the British economy, tantamount to the same happening in the US - for instance California seceding and establishing a separate nation. (Interesting option, and I wonder what the American people would think of that circumstance!)
There will be less European synergy because the Brits will no longer be privy to the important meetings that employ EU data to discuss possible policy alternatives regarding entire industries. Of which they were previously participants.
Ditto the ability to make use of EU-funds in the development of key technologies. That funding is considerable, and will impact British universities.
Moreover, they will be cut off from any discussion regarding the EU-Central Bank financial manipulations of the Euro that could impact the British pound - whereas before they had some say in the matter as an EU-member.
These, I suggest are important privileges, or (as LBJ used to say) "Better being inside the tent pissing out, than outside pissing in" ...
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