comment by Don Draper's dandruff (U20155)
posted 13 minutes ago
UK is the single biggest export market for EU (ex UK) goods, 16% of the EU's goods find their way to the UK, just ahead of the US at 15%, and well ahead of China.
UK is the 5th biggest economy in the world, so it is more comparable to the US/Japan/China than it is to Norway.
Obviously we are heavily reliant on the EU for our exports, but the point is that both sides rely to a fair degree on the other, and it is no one's real interests to have a prolonged and bitter trade dispute.
----------------------------------------------------------------------
First of all we were overtaken by France yesterday as the 5th largest economy after losing 10% of the countries wealth in a day.
If the EU can't export to UK they'll simply find someone else who needs them. They are a big market of 500m and the world biggest and a lot of countries want to trade/work with the eu. Some countries' long term ambition is to join the big market.
As I've already said, the EU consists of 27 countries who will be able to assist each other to cope with any economic difficulty resulting from UK exit. Not all EU countries trade with uk that heavily..
comment by {honestlivpool~five~times} 👽 🐎 #worldpeace (U1661)
posted 12 seconds ago
comment by Don Draper's dandruff (U20155)
posted 13 minutes ago
UK is the single biggest export market for EU (ex UK) goods, 16% of the EU's goods find their way to the UK, just ahead of the US at 15%, and well ahead of China.
UK is the 5th biggest economy in the world, so it is more comparable to the US/Japan/China than it is to Norway.
Obviously we are heavily reliant on the EU for our exports, but the point is that both sides rely to a fair degree on the other, and it is no one's real interests to have a prolonged and bitter trade dispute.
----------------------------------------------------------------------
First of all we were overtaken by France yesterday as the 5th largest economy after losing 10% of the countries wealth in a day.
If the EU can't export to UK they'll simply find someone else who needs them. They are a big market of 500m and the world biggest and a lot of countries want to trade/work with the eu. Some countries' long term ambition is to join the big market.
As I've already said, the EU consists of 27 countries who will be able to assist each other to cope with any economic difficulty resulting from UK exit. Not all EU countries trade with uk that heavily..
----------------------------------------------------------------------
movements in the stock market are not the country's wealth, so we didn't lose 10% of anything in a day.
and what does help us is that in 2015 we were germany's 3rd largest export market, at c.. €90bn. and given that uk exports to germany were less than half that, we were their 2nd biggest net importer, only 7% behind the US.
https://www.destatis.de/EN/FactsFigures/NationalEconomyEnvironment/ForeignTrade/TradingPartners/Tables/OrderRankGermanyTradingPartners.pdf?__blob=publicationFile
comment by Don Draper's dandruff (U20155)
posted 3 minutes ago
comment by {honestlivpool~five~times} 👽 🐎 #worldpeace (U1661)
posted 12 seconds ago
comment by Don Draper's dandruff (U20155)
posted 13 minutes ago
UK is the single biggest export market for EU (ex UK) goods, 16% of the EU's goods find their way to the UK, just ahead of the US at 15%, and well ahead of China.
UK is the 5th biggest economy in the world, so it is more comparable to the US/Japan/China than it is to Norway.
Obviously we are heavily reliant on the EU for our exports, but the point is that both sides rely to a fair degree on the other, and it is no one's real interests to have a prolonged and bitter trade dispute.
----------------------------------------------------------------------
First of all we were overtaken by France yesterday as the 5th largest economy after losing 10% of the countries wealth in a day.
If the EU can't export to UK they'll simply find someone else who needs them. They are a big market of 500m and the world biggest and a lot of countries want to trade/work with the eu. Some countries' long term ambition is to join the big market.
As I've already said, the EU consists of 27 countries who will be able to assist each other to cope with any economic difficulty resulting from UK exit. Not all EU countries trade with uk that heavily..
----------------------------------------------------------------------
movements in the stock market are not the country's wealth, so we didn't lose 10% of anything in a day.
and what does help us is that in 2015 we were germany's 3rd largest export market, at c.. €90bn. and given that uk exports to germany were less than half that, we were their 2nd biggest net importer, only 7% behind the US.
https://www.destatis.de/EN/FactsFigures/NationalEconomyEnvironment/ForeignTrade/TradingPartners/Tables/OrderRankGermanyTradingPartners.pdf?__blob=publicationFile
----------------------------------------------------------------------
I was not referring to stock market. Drop in value of pounds dropped the country's wealth.
http://metro.co.uk/2016/06/24/france-overtakes-uk-as-fifth-largest-economy-as-pound-plummets-5964746/
https://twitter.com/LondonEconomic/status/746247581748068352?ref_src=twsrc%5Etfw
As I have already stated the EU is a market of 500m people and will be able to absorb the economic impact. Breaking up is a far more bigger risk and would happen if UK are seen to be better of. Economies of member states will be ruined and the world will go into a deep recession if EU breaks up.
Pound did not fall 10% against any major currency, let alone against all major currencies.
And as I have said here/elsewhere, the UK is the single largest market for the EU as a whole, taking 16% of the entire EU's exports, ahead of the US with 15%.
500m people or not the EU is in no state, right now, to sacrifice their biggest export market just to make a point.
comment by Don Draper's dandruff (U20155)
posted 5 minutes ago
Pound did not fall 10% against any major currency, let alone against all major currencies.
And as I have said here/elsewhere, the UK is the single largest market for the EU as a whole, taking 16% of the entire EU's exports, ahead of the US with 15%.
500m people or not the EU is in no state, right now, to sacrifice their biggest export market just to make a point.
----------------------------------------------------------------------
I didn't say the pound fell by 10% against major currencies. I said the country lost 10% of wealth yesterday.
The country was also overtaken as the 5th biggest economy due to loss in value of pounds.
You have assumed the eu is a single country. The biggest market in eu is Germany if fact, not UK. They will simply export to other countries around the world if UK isn't there.
The UK will be no different to the likes of Canada, Turkey, China, USA, etc. if they're not part of the single market. I'm sure they'll rather export to other large markets.
comment by {honestlivpool~five~times} 👽 🐎 #worldpeace (U1661)
posted 41 seconds ago
comment by Don Draper's dandruff (U20155)
posted 5 minutes ago
Pound did not fall 10% against any major currency, let alone against all major currencies.
And as I have said here/elsewhere, the UK is the single largest market for the EU as a whole, taking 16% of the entire EU's exports, ahead of the US with 15%.
500m people or not the EU is in no state, right now, to sacrifice their biggest export market just to make a point.
----------------------------------------------------------------------
I didn't say the pound fell by 10% against major currencies. I said the country lost 10% of wealth yesterday.
The country was also overtaken as the 5th biggest economy due to loss in value of pounds.
You have assumed the eu is a single country. The biggest market in eu is Germany if fact, not UK. They will simply export to other countries around the world if UK isn't there.
The UK will be no different to the likes of Canada, Turkey, China, USA, etc. if they're not part of the single market. I'm sure they'll rather export to other large markets.
----------------------------------------------------------------------
you said "losing 10% of the countries wealth in a day.", and also "Drop in value of pounds dropped the country's wealth".
so if the pound didn't fall by 10% against any major currency how did the country lose 10% of its wealth in one day?
and no, i haven't assumed that the eu is a single country, anywhere. i know that c. 8% of germany's exports, or €90bn, go to the uk; i know that that figure is much higher for some other nations (eg ROI) and lower for others. i also know that, taken as a region as a whole, 16% of EU exports come here, so we are the single biggest export market for the region as a whole.
so we may be no different to the US, but we are a much more important market than any of the others you mentioned, 4 x the size of turkey for instance.
you just casually assume that germany can wave a hand and rustle up €90bn of sales, every single year, to other countries to give them the chance to snub the UK entirely, that is utterly ludicrous.
comment by Don Draper's dandruff (U20155)
posted 10 minutes ago
comment by {honestlivpool~five~times} 👽 🐎 #worldpeace (U1661)
posted 41 seconds ago
comment by Don Draper's dandruff (U20155)
posted 5 minutes ago
Pound did not fall 10% against any major currency, let alone against all major currencies.
And as I have said here/elsewhere, the UK is the single largest market for the EU as a whole, taking 16% of the entire EU's exports, ahead of the US with 15%.
500m people or not the EU is in no state, right now, to sacrifice their biggest export market just to make a point.
----------------------------------------------------------------------
I didn't say the pound fell by 10% against major currencies. I said the country lost 10% of wealth yesterday.
The country was also overtaken as the 5th biggest economy due to loss in value of pounds.
You have assumed the eu is a single country. The biggest market in eu is Germany if fact, not UK. They will simply export to other countries around the world if UK isn't there.
The UK will be no different to the likes of Canada, Turkey, China, USA, etc. if they're not part of the single market. I'm sure they'll rather export to other large markets.
----------------------------------------------------------------------
you said "losing 10% of the countries wealth in a day.", and also "Drop in value of pounds dropped the country's wealth".
so if the pound didn't fall by 10% against any major currency how did the country lose 10% of its wealth in one day?
and no, i haven't assumed that the eu is a single country, anywhere. i know that c. 8% of germany's exports, or €90bn, go to the uk; i know that that figure is much higher for some other nations (eg ROI) and lower for others. i also know that, taken as a region as a whole, 16% of EU exports come here, so we are the single biggest export market for the region as a whole.
so we may be no different to the US, but we are a much more important market than any of the others you mentioned, 4 x the size of turkey for instance.
you just casually assume that germany can wave a hand and rustle up €90bn of sales, every single year, to other countries to give them the chance to snub the UK entirely, that is utterly ludicrous.
----------------------------------------------------------------------
http://www.independent.co.uk/news/business/news/ftse-100-eu-referendum-brexit-sterling-pound-bank-housebuilders-a7099951.html
You should read about world happened on Friday. The stock market and pounds were suffered severely.
Also if we exit the EU €90bn becomes irrelevant as that only happens due to free trade. So if you're eu and want trade with someone outside eu, who would it rather be Britain or USA?
i know exactly what happened in the markets on friday, you still haven't explained how the country lost 10% of its wealth in one day.
stock markets are nothing to do with the wealth of the country as a whole. and i'm sure you're aware that the FTSE 100 was actually the best performing major european index yesterday.
and to state the blindingly obvious the EU is perfectly free to trade with the UK on exactly the same terms as it has traded with it for the last 40 years, if it wishes to do so.
quite how €90bn worth of exports become "irrelevant" I don't know. i'm sure the exporters of Germany/France/ROI would love to know that their sales to the UK are irrelevant.
stock markets are nothing to do with the wealth of the country as a whole. and i'm sure you're aware that the FTSE 100 was actually the best performing major european index yesterday.
==========================
Pound fall, increased debt, loss of investment/pension, confidence, decrease in value of certain products, etc.. I could go. It's probably more than 10% if you carry a proper/more detailed analysis..
comment by {honestlivpool~five~times} 👽 🐎 #worldpeace (U1661)
posted 2 minutes ago
stock markets are nothing to do with the wealth of the country as a whole. and i'm sure you're aware that the FTSE 100 was actually the best performing major european index yesterday.
==========================
Pound fall, increased debt, loss of investment/pension, confidence, decrease in value of certain products, etc.. I could go. It's probably more than 10% if you carry a proper/more detailed analysis..
----------------------------------------------------------------------
More detailed analysis? you haven't offered any analysis at all!
And €90bn exports will not longer be seen as such as the framework will be different. If the UK do no agree to their terms then they would have to consider what more riskier to them.. i.e. being more favourable to uk and triggering the breakup of the eu - which is a lot more riskier to the German economy - compared to finding another country to trade with / potential €90bn hit. Obviously the 90bn won't just disappear as of German economy as Britain's place will be replaced by someone else.
comment by Don Draper's dandruff (U20155)
posted 8 minutes ago
comment by {honestlivpool~five~times} 👽 🐎 #worldpeace (U1661)
posted 2 minutes ago
stock markets are nothing to do with the wealth of the country as a whole. and i'm sure you're aware that the FTSE 100 was actually the best performing major european index yesterday.
==========================
Pound fall, increased debt, loss of investment/pension, confidence, decrease in value of certain products, etc.. I could go. It's probably more than 10% if you carry a proper/more detailed analysis..
----------------------------------------------------------------------
More detailed analysis? you haven't offered any analysis at all!
----------------------------------------------------------------------
The pound was down by around 9% vs USD. I've already listed other elements that may also be influenced by the turmoil with regards to wealth and economy.
comment by {honestlivpool~five~times} 👽 🐎 #worldpeace (U1661)
posted 7 minutes ago
And €90bn exports will not longer be seen as such as the framework will be different. If the UK do no agree to their terms then they would have to consider what more riskier to them.. i.e. being more favourable to uk and triggering the breakup of the eu - which is a lot more riskier to the German economy - compared to finding another country to trade with / potential €90bn hit. Obviously the 90bn won't just disappear as of German economy as Britain's place will be replaced by someone else.
----------------------------------------------------------------------
You seem to assume that the reason Germany does not already export €90bn to the rest of the world is because it chooses not to, ie that the current level of exports is determined by capacity constraints rather than limited demand, so that they can just pick up €90bn of orders from elsewhere and cut off the UK.
But there is no way on earth that is true, and so no way on earth that they will make life so difficult for the UK that EU exports will go to zero. there will be negotiation, and there will be demands, some of which will be met, some of which won't.
so i agree that they won't want to risk the whole EU breaking up - though i suspect the cat is already out of the bag on that one - but it won't come at the cost of cutting off all trade with the UK, or making it prohibitively expensive, because that would push the entire EU into recession.
This is an interesting read;
http://news.sky.com/story/1717515/will-brexiteers-deliver-on-campaign-pledges
The more I look into this the more concerned I am that although we've voted out nothing is really going to change. All it appears to have done is create a huge chasm across our nation along Geographical, Social and Economical lines. And for what?
comment by Don Draper's dandruff (U20155)
posted 12 minutes ago
comment by {honestlivpool~five~times} 👽 🐎 #worldpeace (U1661)
posted 7 minutes ago
And €90bn exports will not longer be seen as such as the framework will be different. If the UK do no agree to their terms then they would have to consider what more riskier to them.. i.e. being more favourable to uk and triggering the breakup of the eu - which is a lot more riskier to the German economy - compared to finding another country to trade with / potential €90bn hit. Obviously the 90bn won't just disappear as of German economy as Britain's place will be replaced by someone else.
----------------------------------------------------------------------
You seem to assume that the reason Germany does not already export €90bn to the rest of the world is because it chooses not to, ie that the current level of exports is determined by capacity constraints rather than limited demand, so that they can just pick up €90bn of orders from elsewhere and cut off the UK.
But there is no way on earth that is true, and so no way on earth that they will make life so difficult for the UK that EU exports will go to zero. there will be negotiation, and there will be demands, some of which will be met, some of which won't.
so i agree that they won't want to risk the whole EU breaking up - though i suspect the cat is already out of the bag on that one - but it won't come at the cost of cutting off all trade with the UK, or making it prohibitively expensive, because that would push the entire EU into recession.
----------------------------------------------------------------------
I haven't said Germany pick and choose who they trade with. Removal of red take across eu states to create a free market makes it easier to trade. That's why countries want more trade agreements. I.e. Germany are more likely to increase trade with the USA if TTIP deal goes through.
A Britain that is outside the eu potentially creates red tape and restrictions that will make it more difficult for Germany to trade with Britain. Hence why I've said the €90bn is likely to be irrelevant.
Sorry mate I can't see any logic in saying the 90 bn is irrelevant
It's 90 bn in sales to the companies in its most important. Industries
comment by The Kaiser's Trainers (U5676)
posted 1 minute ago
Sorry mate I can't see any logic in saying the 90 bn is irrelevant
It's 90 bn in sales to the companies in its most important. Industries
----------------------------------------------------------------------
It's no longer 90bn as unless the UK remain part of the single market. That's my point.
??? what are you smoking?
90bn worth of goods is 90bn worth of goods. whether we're in the eu or not.
if they force trade tariffs on us, we might buy less, but end up paying around the same amount including tariffs, we might buy the same amount but pay more including tariffs, we'd sure as hell look at getting a similar amount back in trade tariffs of our own.
that's how trade tariffs work, they're reciprocal, they work both ways.
net result, Germany exports 90bn worth of goods to the uk.
it's so bloody simple and obvious, why can't you get your head around it, you had the same problems understanding quite simple concepts of how the financial markets worked. now it's the trade markets.
for all yours and redintheheads supposed research you claimed to be doing before the vote, neither of you actually seem to have learnt much.
comment by 19th title coming soon. (U12879)
posted 37 minutes ago
??? what are you smoking?
90bn worth of goods is 90bn worth of goods. whether we're in the eu or not.
if they force trade tariffs on us, we might buy less, but end up paying around the same amount including tariffs, we might buy the same amount but pay more including tariffs, we'd sure as hell look at getting a similar amount back in trade tariffs of our own.
that's how trade tariffs work, they're reciprocal, they work both ways.
net result, Germany exports 90bn worth of goods to the uk.
it's so bloody simple and obvious, why can't you get your head around it, you had the same problems understanding quite simple concepts of how the financial markets worked. now it's the trade markets.
for all yours and redintheheads supposed research you claimed to be doing before the vote, neither of you actually seem to have learnt much.
----------------------------------------------------------------------
We are speaking of future trades. Of course 90bn is 90bn. We may eventually find trades similar worth outside eu, but we may not. Also we could end up giving up even more law or as leavers call it "sovereignty" to whoever we end up striking the deal with, along with other trades the we had with the eu worth billions of pounds, which contribute to put us among the top 6 economies in the world. Fact is that life will be much more difficult.
Report: Britain doesn't have the expertise to negotiate bilateral trade agreements.
The former top official at the Foreign Office, Sir Simon Fraser, told BBC Radio 4's Today programme that Britain doesn't have the expertise to negotiate its own trade agreements.
As agreements have been negotiated by the EU for decades, Britain is unprepared to act independently, with two few officials with the necessary expertise.
"I doubt there are more than between a dozen and 20 serving British officials who have real experience of trade negotiations."
The UK will need hundreds of experts to act in this area alone, added Sir Simon.
It's the end of the world, isn't it? I mean, we've never been in such a dire, life threatening, demoralised, pitiful, catastrophic state than we are in right now, aren't we? It really is the end of the world.
This is a thousand times worse than we were in 1918 and 1945 after the two world war thingys when millions (of people, not just money, which is far more important isn't it?) were lost. On reflection these times must seem like a doddle when compared to the Armageddon we will inevitably face now that some of us - not all, perish the thought - have managed to cheat ourselves out of that glorious institution, the EU.
Can this drivel get any worse? Am I making it any worse by these inane comments?
Probably.
It's the end of the world. Again.
JimmyTheRed
Sign in if you want to comment
EU Referendum and the aftermath
Page 5 of 5
posted on 25/6/16
comment by Don Draper's dandruff (U20155)
posted 13 minutes ago
UK is the single biggest export market for EU (ex UK) goods, 16% of the EU's goods find their way to the UK, just ahead of the US at 15%, and well ahead of China.
UK is the 5th biggest economy in the world, so it is more comparable to the US/Japan/China than it is to Norway.
Obviously we are heavily reliant on the EU for our exports, but the point is that both sides rely to a fair degree on the other, and it is no one's real interests to have a prolonged and bitter trade dispute.
----------------------------------------------------------------------
First of all we were overtaken by France yesterday as the 5th largest economy after losing 10% of the countries wealth in a day.
If the EU can't export to UK they'll simply find someone else who needs them. They are a big market of 500m and the world biggest and a lot of countries want to trade/work with the eu. Some countries' long term ambition is to join the big market.
As I've already said, the EU consists of 27 countries who will be able to assist each other to cope with any economic difficulty resulting from UK exit. Not all EU countries trade with uk that heavily..
posted on 25/6/16
comment by {honestlivpool~five~times} 👽 🐎 #worldpeace (U1661)
posted 12 seconds ago
comment by Don Draper's dandruff (U20155)
posted 13 minutes ago
UK is the single biggest export market for EU (ex UK) goods, 16% of the EU's goods find their way to the UK, just ahead of the US at 15%, and well ahead of China.
UK is the 5th biggest economy in the world, so it is more comparable to the US/Japan/China than it is to Norway.
Obviously we are heavily reliant on the EU for our exports, but the point is that both sides rely to a fair degree on the other, and it is no one's real interests to have a prolonged and bitter trade dispute.
----------------------------------------------------------------------
First of all we were overtaken by France yesterday as the 5th largest economy after losing 10% of the countries wealth in a day.
If the EU can't export to UK they'll simply find someone else who needs them. They are a big market of 500m and the world biggest and a lot of countries want to trade/work with the eu. Some countries' long term ambition is to join the big market.
As I've already said, the EU consists of 27 countries who will be able to assist each other to cope with any economic difficulty resulting from UK exit. Not all EU countries trade with uk that heavily..
----------------------------------------------------------------------
movements in the stock market are not the country's wealth, so we didn't lose 10% of anything in a day.
and what does help us is that in 2015 we were germany's 3rd largest export market, at c.. €90bn. and given that uk exports to germany were less than half that, we were their 2nd biggest net importer, only 7% behind the US.
https://www.destatis.de/EN/FactsFigures/NationalEconomyEnvironment/ForeignTrade/TradingPartners/Tables/OrderRankGermanyTradingPartners.pdf?__blob=publicationFile
posted on 25/6/16
comment by Don Draper's dandruff (U20155)
posted 3 minutes ago
comment by {honestlivpool~five~times} 👽 🐎 #worldpeace (U1661)
posted 12 seconds ago
comment by Don Draper's dandruff (U20155)
posted 13 minutes ago
UK is the single biggest export market for EU (ex UK) goods, 16% of the EU's goods find their way to the UK, just ahead of the US at 15%, and well ahead of China.
UK is the 5th biggest economy in the world, so it is more comparable to the US/Japan/China than it is to Norway.
Obviously we are heavily reliant on the EU for our exports, but the point is that both sides rely to a fair degree on the other, and it is no one's real interests to have a prolonged and bitter trade dispute.
----------------------------------------------------------------------
First of all we were overtaken by France yesterday as the 5th largest economy after losing 10% of the countries wealth in a day.
If the EU can't export to UK they'll simply find someone else who needs them. They are a big market of 500m and the world biggest and a lot of countries want to trade/work with the eu. Some countries' long term ambition is to join the big market.
As I've already said, the EU consists of 27 countries who will be able to assist each other to cope with any economic difficulty resulting from UK exit. Not all EU countries trade with uk that heavily..
----------------------------------------------------------------------
movements in the stock market are not the country's wealth, so we didn't lose 10% of anything in a day.
and what does help us is that in 2015 we were germany's 3rd largest export market, at c.. €90bn. and given that uk exports to germany were less than half that, we were their 2nd biggest net importer, only 7% behind the US.
https://www.destatis.de/EN/FactsFigures/NationalEconomyEnvironment/ForeignTrade/TradingPartners/Tables/OrderRankGermanyTradingPartners.pdf?__blob=publicationFile
----------------------------------------------------------------------
I was not referring to stock market. Drop in value of pounds dropped the country's wealth.
http://metro.co.uk/2016/06/24/france-overtakes-uk-as-fifth-largest-economy-as-pound-plummets-5964746/
https://twitter.com/LondonEconomic/status/746247581748068352?ref_src=twsrc%5Etfw
As I have already stated the EU is a market of 500m people and will be able to absorb the economic impact. Breaking up is a far more bigger risk and would happen if UK are seen to be better of. Economies of member states will be ruined and the world will go into a deep recession if EU breaks up.
posted on 25/6/16
Pound did not fall 10% against any major currency, let alone against all major currencies.
And as I have said here/elsewhere, the UK is the single largest market for the EU as a whole, taking 16% of the entire EU's exports, ahead of the US with 15%.
500m people or not the EU is in no state, right now, to sacrifice their biggest export market just to make a point.
posted on 25/6/16
comment by Don Draper's dandruff (U20155)
posted 5 minutes ago
Pound did not fall 10% against any major currency, let alone against all major currencies.
And as I have said here/elsewhere, the UK is the single largest market for the EU as a whole, taking 16% of the entire EU's exports, ahead of the US with 15%.
500m people or not the EU is in no state, right now, to sacrifice their biggest export market just to make a point.
----------------------------------------------------------------------
I didn't say the pound fell by 10% against major currencies. I said the country lost 10% of wealth yesterday.
The country was also overtaken as the 5th biggest economy due to loss in value of pounds.
You have assumed the eu is a single country. The biggest market in eu is Germany if fact, not UK. They will simply export to other countries around the world if UK isn't there.
The UK will be no different to the likes of Canada, Turkey, China, USA, etc. if they're not part of the single market. I'm sure they'll rather export to other large markets.
posted on 25/6/16
comment by {honestlivpool~five~times} 👽 🐎 #worldpeace (U1661)
posted 41 seconds ago
comment by Don Draper's dandruff (U20155)
posted 5 minutes ago
Pound did not fall 10% against any major currency, let alone against all major currencies.
And as I have said here/elsewhere, the UK is the single largest market for the EU as a whole, taking 16% of the entire EU's exports, ahead of the US with 15%.
500m people or not the EU is in no state, right now, to sacrifice their biggest export market just to make a point.
----------------------------------------------------------------------
I didn't say the pound fell by 10% against major currencies. I said the country lost 10% of wealth yesterday.
The country was also overtaken as the 5th biggest economy due to loss in value of pounds.
You have assumed the eu is a single country. The biggest market in eu is Germany if fact, not UK. They will simply export to other countries around the world if UK isn't there.
The UK will be no different to the likes of Canada, Turkey, China, USA, etc. if they're not part of the single market. I'm sure they'll rather export to other large markets.
----------------------------------------------------------------------
you said "losing 10% of the countries wealth in a day.", and also "Drop in value of pounds dropped the country's wealth".
so if the pound didn't fall by 10% against any major currency how did the country lose 10% of its wealth in one day?
and no, i haven't assumed that the eu is a single country, anywhere. i know that c. 8% of germany's exports, or €90bn, go to the uk; i know that that figure is much higher for some other nations (eg ROI) and lower for others. i also know that, taken as a region as a whole, 16% of EU exports come here, so we are the single biggest export market for the region as a whole.
so we may be no different to the US, but we are a much more important market than any of the others you mentioned, 4 x the size of turkey for instance.
you just casually assume that germany can wave a hand and rustle up €90bn of sales, every single year, to other countries to give them the chance to snub the UK entirely, that is utterly ludicrous.
posted on 25/6/16
comment by Don Draper's dandruff (U20155)
posted 10 minutes ago
comment by {honestlivpool~five~times} 👽 🐎 #worldpeace (U1661)
posted 41 seconds ago
comment by Don Draper's dandruff (U20155)
posted 5 minutes ago
Pound did not fall 10% against any major currency, let alone against all major currencies.
And as I have said here/elsewhere, the UK is the single largest market for the EU as a whole, taking 16% of the entire EU's exports, ahead of the US with 15%.
500m people or not the EU is in no state, right now, to sacrifice their biggest export market just to make a point.
----------------------------------------------------------------------
I didn't say the pound fell by 10% against major currencies. I said the country lost 10% of wealth yesterday.
The country was also overtaken as the 5th biggest economy due to loss in value of pounds.
You have assumed the eu is a single country. The biggest market in eu is Germany if fact, not UK. They will simply export to other countries around the world if UK isn't there.
The UK will be no different to the likes of Canada, Turkey, China, USA, etc. if they're not part of the single market. I'm sure they'll rather export to other large markets.
----------------------------------------------------------------------
you said "losing 10% of the countries wealth in a day.", and also "Drop in value of pounds dropped the country's wealth".
so if the pound didn't fall by 10% against any major currency how did the country lose 10% of its wealth in one day?
and no, i haven't assumed that the eu is a single country, anywhere. i know that c. 8% of germany's exports, or €90bn, go to the uk; i know that that figure is much higher for some other nations (eg ROI) and lower for others. i also know that, taken as a region as a whole, 16% of EU exports come here, so we are the single biggest export market for the region as a whole.
so we may be no different to the US, but we are a much more important market than any of the others you mentioned, 4 x the size of turkey for instance.
you just casually assume that germany can wave a hand and rustle up €90bn of sales, every single year, to other countries to give them the chance to snub the UK entirely, that is utterly ludicrous.
----------------------------------------------------------------------
http://www.independent.co.uk/news/business/news/ftse-100-eu-referendum-brexit-sterling-pound-bank-housebuilders-a7099951.html
You should read about world happened on Friday. The stock market and pounds were suffered severely.
Also if we exit the EU €90bn becomes irrelevant as that only happens due to free trade. So if you're eu and want trade with someone outside eu, who would it rather be Britain or USA?
posted on 25/6/16
i know exactly what happened in the markets on friday, you still haven't explained how the country lost 10% of its wealth in one day.
stock markets are nothing to do with the wealth of the country as a whole. and i'm sure you're aware that the FTSE 100 was actually the best performing major european index yesterday.
and to state the blindingly obvious the EU is perfectly free to trade with the UK on exactly the same terms as it has traded with it for the last 40 years, if it wishes to do so.
quite how €90bn worth of exports become "irrelevant" I don't know. i'm sure the exporters of Germany/France/ROI would love to know that their sales to the UK are irrelevant.
posted on 25/6/16
stock markets are nothing to do with the wealth of the country as a whole. and i'm sure you're aware that the FTSE 100 was actually the best performing major european index yesterday.
==========================
Pound fall, increased debt, loss of investment/pension, confidence, decrease in value of certain products, etc.. I could go. It's probably more than 10% if you carry a proper/more detailed analysis..
posted on 25/6/16
comment by {honestlivpool~five~times} 👽 🐎 #worldpeace (U1661)
posted 2 minutes ago
stock markets are nothing to do with the wealth of the country as a whole. and i'm sure you're aware that the FTSE 100 was actually the best performing major european index yesterday.
==========================
Pound fall, increased debt, loss of investment/pension, confidence, decrease in value of certain products, etc.. I could go. It's probably more than 10% if you carry a proper/more detailed analysis..
----------------------------------------------------------------------
More detailed analysis? you haven't offered any analysis at all!
posted on 25/6/16
And €90bn exports will not longer be seen as such as the framework will be different. If the UK do no agree to their terms then they would have to consider what more riskier to them.. i.e. being more favourable to uk and triggering the breakup of the eu - which is a lot more riskier to the German economy - compared to finding another country to trade with / potential €90bn hit. Obviously the 90bn won't just disappear as of German economy as Britain's place will be replaced by someone else.
posted on 25/6/16
comment by Don Draper's dandruff (U20155)
posted 8 minutes ago
comment by {honestlivpool~five~times} 👽 🐎 #worldpeace (U1661)
posted 2 minutes ago
stock markets are nothing to do with the wealth of the country as a whole. and i'm sure you're aware that the FTSE 100 was actually the best performing major european index yesterday.
==========================
Pound fall, increased debt, loss of investment/pension, confidence, decrease in value of certain products, etc.. I could go. It's probably more than 10% if you carry a proper/more detailed analysis..
----------------------------------------------------------------------
More detailed analysis? you haven't offered any analysis at all!
----------------------------------------------------------------------
The pound was down by around 9% vs USD. I've already listed other elements that may also be influenced by the turmoil with regards to wealth and economy.
posted on 25/6/16
comment by {honestlivpool~five~times} 👽 🐎 #worldpeace (U1661)
posted 7 minutes ago
And €90bn exports will not longer be seen as such as the framework will be different. If the UK do no agree to their terms then they would have to consider what more riskier to them.. i.e. being more favourable to uk and triggering the breakup of the eu - which is a lot more riskier to the German economy - compared to finding another country to trade with / potential €90bn hit. Obviously the 90bn won't just disappear as of German economy as Britain's place will be replaced by someone else.
----------------------------------------------------------------------
You seem to assume that the reason Germany does not already export €90bn to the rest of the world is because it chooses not to, ie that the current level of exports is determined by capacity constraints rather than limited demand, so that they can just pick up €90bn of orders from elsewhere and cut off the UK.
But there is no way on earth that is true, and so no way on earth that they will make life so difficult for the UK that EU exports will go to zero. there will be negotiation, and there will be demands, some of which will be met, some of which won't.
so i agree that they won't want to risk the whole EU breaking up - though i suspect the cat is already out of the bag on that one - but it won't come at the cost of cutting off all trade with the UK, or making it prohibitively expensive, because that would push the entire EU into recession.
posted on 25/6/16
This is an interesting read;
http://news.sky.com/story/1717515/will-brexiteers-deliver-on-campaign-pledges
The more I look into this the more concerned I am that although we've voted out nothing is really going to change. All it appears to have done is create a huge chasm across our nation along Geographical, Social and Economical lines. And for what?
posted on 25/6/16
comment by Don Draper's dandruff (U20155)
posted 12 minutes ago
comment by {honestlivpool~five~times} 👽 🐎 #worldpeace (U1661)
posted 7 minutes ago
And €90bn exports will not longer be seen as such as the framework will be different. If the UK do no agree to their terms then they would have to consider what more riskier to them.. i.e. being more favourable to uk and triggering the breakup of the eu - which is a lot more riskier to the German economy - compared to finding another country to trade with / potential €90bn hit. Obviously the 90bn won't just disappear as of German economy as Britain's place will be replaced by someone else.
----------------------------------------------------------------------
You seem to assume that the reason Germany does not already export €90bn to the rest of the world is because it chooses not to, ie that the current level of exports is determined by capacity constraints rather than limited demand, so that they can just pick up €90bn of orders from elsewhere and cut off the UK.
But there is no way on earth that is true, and so no way on earth that they will make life so difficult for the UK that EU exports will go to zero. there will be negotiation, and there will be demands, some of which will be met, some of which won't.
so i agree that they won't want to risk the whole EU breaking up - though i suspect the cat is already out of the bag on that one - but it won't come at the cost of cutting off all trade with the UK, or making it prohibitively expensive, because that would push the entire EU into recession.
----------------------------------------------------------------------
I haven't said Germany pick and choose who they trade with. Removal of red take across eu states to create a free market makes it easier to trade. That's why countries want more trade agreements. I.e. Germany are more likely to increase trade with the USA if TTIP deal goes through.
A Britain that is outside the eu potentially creates red tape and restrictions that will make it more difficult for Germany to trade with Britain. Hence why I've said the €90bn is likely to be irrelevant.
posted on 25/6/16
Sorry mate I can't see any logic in saying the 90 bn is irrelevant
It's 90 bn in sales to the companies in its most important. Industries
posted on 25/6/16
comment by The Kaiser's Trainers (U5676)
posted 1 minute ago
Sorry mate I can't see any logic in saying the 90 bn is irrelevant
It's 90 bn in sales to the companies in its most important. Industries
----------------------------------------------------------------------
It's no longer 90bn as unless the UK remain part of the single market. That's my point.
posted on 25/6/16
??? what are you smoking?
90bn worth of goods is 90bn worth of goods. whether we're in the eu or not.
if they force trade tariffs on us, we might buy less, but end up paying around the same amount including tariffs, we might buy the same amount but pay more including tariffs, we'd sure as hell look at getting a similar amount back in trade tariffs of our own.
that's how trade tariffs work, they're reciprocal, they work both ways.
net result, Germany exports 90bn worth of goods to the uk.
it's so bloody simple and obvious, why can't you get your head around it, you had the same problems understanding quite simple concepts of how the financial markets worked. now it's the trade markets.
for all yours and redintheheads supposed research you claimed to be doing before the vote, neither of you actually seem to have learnt much.
posted on 25/6/16
comment by 19th title coming soon. (U12879)
posted 37 minutes ago
??? what are you smoking?
90bn worth of goods is 90bn worth of goods. whether we're in the eu or not.
if they force trade tariffs on us, we might buy less, but end up paying around the same amount including tariffs, we might buy the same amount but pay more including tariffs, we'd sure as hell look at getting a similar amount back in trade tariffs of our own.
that's how trade tariffs work, they're reciprocal, they work both ways.
net result, Germany exports 90bn worth of goods to the uk.
it's so bloody simple and obvious, why can't you get your head around it, you had the same problems understanding quite simple concepts of how the financial markets worked. now it's the trade markets.
for all yours and redintheheads supposed research you claimed to be doing before the vote, neither of you actually seem to have learnt much.
----------------------------------------------------------------------
We are speaking of future trades. Of course 90bn is 90bn. We may eventually find trades similar worth outside eu, but we may not. Also we could end up giving up even more law or as leavers call it "sovereignty" to whoever we end up striking the deal with, along with other trades the we had with the eu worth billions of pounds, which contribute to put us among the top 6 economies in the world. Fact is that life will be much more difficult.
posted on 25/6/16
Report: Britain doesn't have the expertise to negotiate bilateral trade agreements.
The former top official at the Foreign Office, Sir Simon Fraser, told BBC Radio 4's Today programme that Britain doesn't have the expertise to negotiate its own trade agreements.
As agreements have been negotiated by the EU for decades, Britain is unprepared to act independently, with two few officials with the necessary expertise.
"I doubt there are more than between a dozen and 20 serving British officials who have real experience of trade negotiations."
The UK will need hundreds of experts to act in this area alone, added Sir Simon.
posted on 26/6/16
It's the end of the world, isn't it? I mean, we've never been in such a dire, life threatening, demoralised, pitiful, catastrophic state than we are in right now, aren't we? It really is the end of the world.
This is a thousand times worse than we were in 1918 and 1945 after the two world war thingys when millions (of people, not just money, which is far more important isn't it?) were lost. On reflection these times must seem like a doddle when compared to the Armageddon we will inevitably face now that some of us - not all, perish the thought - have managed to cheat ourselves out of that glorious institution, the EU.
Can this drivel get any worse? Am I making it any worse by these inane comments?
Probably.
It's the end of the world. Again.
JimmyTheRed
Page 5 of 5