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Old 22-02-2016, 14:32   #593
Hugh
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re: [Update] The UK votes to leave the EU

Quote:
Originally Posted by Damien View Post
Good breakdown of three possible consequences of Brexit. http://www.ft.com/cms/s/2/70d0bfd8-d...#axzz40tQoBlqs

They do point out the absurdity of the same of the claims people make about free trade deals as if they're symmetrical and easy to set up. They're not.
Really good article, I thought, with the pro & con of various scenarios.

The bit I found most interesting was
Quote:
Finally, to prevent disruption to the trade flows on which the British economy has come to depend, the country must negotiate agreements with the EU and with non-EU countries including the US, India, China, Japan and Australia. This would be a matter of urgency: in 2014 just over half Britain’s trade was with the EU, while sales to and from 60 other countries are governed by agreements struck with the bloc.
The challenge that the undecided (in which I include myself) is knowing the complexity and impact of re-negotiating these trade deals, as no one on either side really knows how difficult/beneficial these negotiations will be - Brexit supporters will see to minimise the difficulty of these, whilst the StayInners will exaggerate them, and the truth is, no one knows, as it's never been done on this scale before...
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