Sunday, 26 June 2016

When someone says your like Hitler, how do you react when they want you to give them a good deal ?

Boris Johnson, the possible next prime minister, caused genuine and grave offence by likening the European project to the ambitions of Hitler. His declarations that Brexit will trigger events that unravel the entire project is

The UK has next to no trade negotiators, and will need hundreds, to replicate the market access it currently has with 50 states around the world .

Britain has made clear it doesn’t want free movement – and so any deal on those grounds would be so impossibly fragile as to be a waste of time. Frankfurt and Paris would certainly like our banks. clearing houses that trade in Euros and generate billions for the Exchequer will have to be domiciled in the Eurozone.

A Canadian-style trade deal, that will set tariffs on imports and exports. That may be fine for German manufacturers. But Britain’s service economy will be cut up like an old car. British graduates are about to learn what it's like to use an Australian-style points system. 

If a deal covering trade arrangements isn’t struck once the two-year period expires, Britain is  simply released from the EU treaties and left on crippling WTO terms - something the Treasury terms  a "severe shock scenario" and which it envisages would likely result in a cut in GDP of six per cent and increase unemployment by 800,000, not including the risks presented by emergency spending cuts, or the "tipping points" presented by the crystallisation of financial stability risks.

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