It depends. If the UK is a net importer from the EU, it is almost certainly due to engineering from Germany, agri and nuclear from France, and engineering /design/fashion from Italy to a significant extent.
The question is whether these countries will cut off their noses to spite their faces.
Looking from the outside, I have little doubt the UK standard of living will take a hit, but the economy needs rebalancing in any case and a trade war should encourage domestic manufacturing.
The north of england is a backwater mate. It will be the 3rd world without the eu
Lies.
Third world already pal most of it.
Sigh. Those countries will not have to cut off their nose to spite their face. The U.K. Is not, comparatively, that big a player.
Living standards shouldn’t drop massively though. Perhaps even wage deflation at the lower level and spiralling prices in London would stabilise a bit with EU withdrawal.
London is one of the financial capitals of the world pal. You’d do well to remember that
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Sigh. To each individually they are a decent market. You were posting a few up that Ireland will negotiate separately so as not to be disadvantaged. Why would the other countries be any different.
Also, bear in mind politicians have a limited lifespan, though sadly not limited enough in EU or in Ireland where the next never worked relative coffin surfs in on moral blackmail alone a la mcentee.
We’re going around in circles here. You can continue to overestimate the UK’s clout if you like. You live there so have perhaps been influenced by their own self regard.
International treaties, trade agreements, investment treaties, etc do not change with politicians by the way.
Nice strawman glas. I have never mentioned the uk’s “clout”, whatever that is. Merely the fact that the UK imports far more from the EU than it exports to it, hence the major EU trading economies will not want to throw up any borders to this in reality, though I’m sure there will be posturing aplenty.
Your last line is a beaut.
Self praise is no praise Flatty
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Indeed.
Fuckin Luas drivers.
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Why are they not being sacked?
Negative interest rates coming to a bank near you
Ah great. They’re paying you to take it off them. What can possibly go wrong?
No you are paying them to mind it
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Draghi’s bazooka turns out to be a water pistol. After the initial cheering subsided, European markets down -2% at the close, US equities following suit, and the Euro up 2%. Central bankers are out of ammo, despite all Draghi’s jawboning. He admitted as much in his press conference, stating that interest rates cannot go lower and calling for fiscal stimulus via infrastructure projects from governments (should have been done back in 2009, along with breaking up the big banks).
Correct J_G, consumers will never see negative interest rate loans, but will see increasing charges from the banks to store their money. Nest step will be moves to eliminate physical cash.
I know, but the principle is the same. It’s effectively the same as paying a builder to labour for him, or a farmer for ploughing his fields.
That’s been the aim all along mate.
Physical cash will be a thing of the past in less then a decade.