The EU debate - Part III

Yes, but it didn't have to be like this. All this pain and grief, for what?

I'm not claiming that the U.K. will never recover from this. I do believe, however that it will takes years. Maybe even decades - maybe never, fully.

You may have 'got your country back' but what will be left of it, especially if the nutters go for the so called 'hard Brexit' is not looking so good!

 

Why will a Full Brexit not be good,

 

Deutsche Bank being up financial **** creek is hardly news. It's been going on for ages!..

Uk banks are hardly much better of!...

 

Work it out for yourself, Kustard. Despite Tubby posting crap from The Fail, the simple fact is that some 44% of our export trade goes to the EU. We would ultimately hurt more than them in any trade war.

If the banks lose their passporting rights and leave London, that will cost the treasury billions in revenue. The City accounts for something like 12% of the entire UK GDP,...

 

That's part of the point. A lot of the stuff blamed on brexit would have likely occurred anyway, such as the banks threatening to leave, plus the EU we'd have remained in, is a basket case that needs to change.

 

The EU will do fine. The Euro, I'm not so sure.

However, any failure of the single currency would have catastrophic global consequences. You could even be looking at total global economic meltdown.

Incidentally, as I know from friends, that was much closer to,happening in 2008 than most people realise. The system was a whisker away from complete collapse!

 

WE both know we will not get passporting rights, as the Gov will not allow free movement of people and France wants the Bank business.
So may as well fully leave the EU.

 

Could the EU survive a Euro collapse?

 

If May and her Gvt are truly stupid enough to go down that road then the UK will be in serious financial trouble!..

I'm hoping some remaining semblance of what used to be called common sense will prevail. However, common sense is not so common with this administration,!

 

I wouldn't make any kind of assumptions about anything as everything is up for negotiation. The biggest certainty is that the polls say that people are worried about immigration from the EU. I dont think the populations of other countries are too worried about what the UK wants. This is why the EU is undemocratic - the people who make the decisions don't care what people think.

 

Of course it could, as the power of the trading block would remain the same.

The Euro won't fail completely anyway, there's likely to be withdrawals from it by the nations who should never have had their fragile economies tied to the likes of France and Germany in the first place, but it won't completely collapse.

 

I guess we'll have to see mate

I look forward to skimming through any new trade deals should the information be made available to us (probably not!).

 

So it alone would survive NSIS's 'catastrophic global meltdown'.

 

Non sequitur x 2. For that to be logical you would have to think the EU leaders are going to be worried by what the UK wants. And democracy isn't about doing what the people think they want, its about doing what they would want if they knew and understood all the facts. That's why our MPs are representatives not delegates.

 

So the populous of EU countries aren't arsed about what we want, but the EU is somehow undemocratic for not being arsed?

What the actual ****

What polls are these btw?

 

I don't agree that there'll be a global meltdown off the back of Greece or Italy's current position though.

 

Actually that is perfectly possible. External debts is Euro would be much more damaging to the holder than internal ones

 

It's gone too far IMO.

Say, for instance, Greece left the single currency. They owe hundreds of billions of Euros to banks, institutions, and Gvts all over the world. If they departed the single currency, they would probably have to readopt the Drachma. The problem then is that the Drachma would immediately be massively devalued due to Greeces' situation. Probably 40+% against The Euro.

So, how would Greece pay back the billions of Euros it owes? Simple answer, it couldn't! All the people it owed money too would have to write off the debt taking a massive hit to their balance sheets in already tough times.

Now, that's just Greece. Imagine Italy, Spain, doing the same thing! Remember this money is owed globally to investors East and West! The result would be almost certain global financial meltdown!...

 

#Tobes
#PowerSpurs

What say you?