“Also, isn’t it technically possible for Boris Johnson to be UK’s PM and POTUS?”
Where in the articles I posted did it say that?
And the things written about in those articles have been written about in many papers both in Britain and the US. Also, the leave leaders have already admitted in interviews they are not going to do the things they promised.
Went to my athletic club and was watching the the UEFA Euro 2016 on a Hispanic station. Hilarious cut to Spain forward Nolito being asked what he thought about Brexit.
“I think it’s a dance or maybe I’m wrong. A dance that they do in the NBA.”
Since he is considering joining Manchester City, he may be learning more about it.
That statistic is a bit misleading. Yes, according to UK statistics, the UK exports 220 billion pounds in goods and services annually to other EU countries and imports 290 billion pounds annually from those countries. So that makes the UK a net importer. But that’s a bit of an optical illusion. Fully 44% of the UK’s exports go to EU countries, while only 8% of other EU countries’ exports go to the UK. So who would be hurt more by a full-scale trade war between the UK and the EU? I say without a doubt the UK, a small island state heavily dependent on its continental neighbors for imports of basic goods, and with a heavily export-oriented economy that would be devastated by the loss of trade with the EU. The EU’s loss of 8% of its export market would also be painful, but not nearly as painful as the UK’s loss of 44% of its export market.
It won’t come to that, of course; a trade war is in no one’s interest. But the suggestion that the EU needs to treat the UK with kid gloves, and give it something close to the full benefits of continued free access to the single market but now without any of the costs and responsibilities, is misguided. Top EU officials have indicated they’re prepared to drive a hard bargain, in part to signal to other would-be exiters that there’s no free ride here—if you quit the EU, you can’t expect to continue to receive the full benefits of free access to the single market. It probably won’t be unduly harsh or vindictive, but it will be tough, and there will be a price to be paid.
Also note that a very large fraction of the UK’s exports are exports of services, largely financial services, primarily out of London. The financial sector in London is too big and too important to simply go away, but it is now very much in question how much EU nations will continue to turn to London for financial services. Paris, Frankfurt, and Amsterdam will make strong bids to capture some of that market, and probably stand a good chance of doing so now that London will no longer be part of the EU, quite independently of whatever trade deals the UK (or England-Wales) is able to strike with the EU.
@TatinG, it applies to continental Europe.
As I said earlier in this thread, the UK leaving isn’t that big a deal (though it’s bad for the UK). France and Germany breaking apart would be. And the continental stock indicies tanked more because of the fear that populist sentiment would spread to the mainland.
Re: #422: I mentioned before, Dublin and Edinburgh (when Scotland secedes) as well.
Populist sentiment must be crushed! It contradicts the elite establishment’s views.
I’ve heard that Sir Paul McCartney and Ringo Starr got together and are recording a new song titled Back in the EU
Just to put a slightly finer point on my post #422, UK exports to other EU countries represent 13-15% of the value of the UK’s economy, while exports from other EU countries to the UK represent 3-4% of the value of those countries’ economies. Those figures are big enough to matter to both sides, so it’s in everyone’s interest to strike a trade deal. But Boris Johnson should be under no illusion that he somehow has the EU over a barrel and can hold out for generous concessionary terms. There’s no question that it’s the UK (or England-Wales) that would get hammered the hardest if a trade agreement can’t be reached.
It’s so absurd and simplistic to use the word “elite” as an insult towards the Remain supporters, given that the leaders of the Brexit campaign are not exactly members of an underclass. Is it fair to characterize all the people in Scotland and Northern Ireland who voted to remain as members of the elite establishment? The substantial majority of people who live in London? In any event, this kind of rhetoric, pretending to deify the “wisdom of the commons” (usually for the speaker’s own political ends) reminds me of the esteemed Senator from Nebraska, Roman Hruska:
Aren’t all senators considered elite?
When you compare one country in Europe to the entire rest of Europe, of course the percentages will be skewed. The math dictates that. But economies don’t run on percentages, but euros and pounds.
For example, the UK is one of the largest export markets for German cars, which explains why the German stock market was punished more heavily than the UK stock market. You can bet that German automakers will kick and scream if their autos are subject to punitive tariffs when they land in the UK.
This is a valid concern. I don’t know what the specific rules are for the physical presence that actually needs to be in the Euro zone. Depending on what those rules are, the impact could vary from negligible to dramatic.
On the financial ledger, Scotland relies on subsidies from England. If Scotland were to split and join the EU would the rest of the EU want another ‘taker’ country to subsidize? How would the North Sea oil be split - English or Scottish?
When Britain refused the join the Eurozone there were predictions that it would hurt Britain’s economy. That has proven not to be the case.
I’m sure the vast majority are from people in the remain camp.
How “we” turn it back? … Who do you people think you are? [-(
They are the people who feel that democracy cannot be trusted to the stupid population. Those who know the right way must prevail to save the rabble from their crazy ideas.
Are you sure?
http://www.bbc.com/news/business-16477990
The BBC says yes.
I think the story on Scotland subsidies depends upon who you think owns the diminishing North Sea oil and what each barrel is worth.
England subsidizes Scotland via the Barnett formula.
http://www.telegraph.co.uk/news/uknews/scotland/1580787/How-the-Barnett-formula-works.html
Even accounting for North Sea oil Scotland runs a deficit of 15 billion pounds per year.
http://www.bbc.com/news/uk-scotland-scotland-politics-35757787
I am really enjoying the news coverage of Brexit and the comments here. So many people trying to figure out how to thwart the will of a majority of the British people (and an even larger majority of the English people). Why? Because that majority is “wrong”.