Current Affairs EU In or Out

[Neiler]

Considering they export to us 40 percent, and we export 8 percent they have more to lose and they lose their 2 Nd biggest funder to the EU - don't forget if we have stayed in if the Euro crashed as it might how much damage would that have done?
At least now we have our own political democratic government and Don,t need 27 other countries to all vote yes!

Mate the EU is not a country, your talking 20+ countries there. Of course it's 8% vs 40% one county vs 20+. In fact they are frightening figures, 8% or your output is depended on the EU, 40% of what you import is dependent on the EU, that's not a good thing leaving the EU mate.

 

[blue76]

Well this has put the country on its arse.

An unmitigated disaster.

 

[Joey66]

Mate the EU is not a country, your talking 20+ countries there. Of course it's 8% vs 40% one county vs 20+. In fact they are frightening figures, 8% or your output is depended on the EU, 40% of what you import is dependent on the EU, that's not a good thing leaving the EU mate.

We have that's my point live with it!
I expected a remain vote but its an out vote - it will settle down in time

 

[bobbydigital]

So why can't we trade like China and America

There's no reason you can't.

The trade barriers in place after leaving the EU will mean that your EU imports cost more. The price of your products being sold to the EU will also become more expensive for them. For a lot of the products the UK sell to the EU they will look to buy from elsewhere as there will now be cheaper alternative options. Once you can't sell as many products what will the companies do? Either downscale operations and reduce staff or just simply move to the EU in many cases.

You can trade like them but economically you are making life a lot harder for yourself.

 

[nsno-chris]

Not doomed. Basically here are the two options.

The first is to become like Norway, which is a member of the European Economic Area, in return for which it is required to contribute to the EU’s budget and allow the free movement of people. The second is to opt out entirely, trading with the EU under the rules of the World Trade Organisation like America, China or any other country.

Option two will do a lot of damage to the economy, there is really no logical argument going around against this. But option one will require free movement. Basing their campaign around anti immigration makes it quite hard to choose option one now though.

Option 2 also opens up the ability to trade with the rest of the world, the commonwealth and the EU, having your own trade agreements. It could improve the economy in the long run

 

[Ratkiller]

I'm gutted that the majority in this case, is composed mainly of illiterate, uneducated, sun-reading gimps like yourself. I'll vault you in 12 months time you utter mutant when this country is on it's arse.

12 months eh.

Proper forward thinking you clever people.lol

 

[Darth Vader]

There's no reason you can't.

The trade barriers in place after leaving the EU will mean that your EU imports cost more. The price of your products being sold to the EU will also become more expensive for them. For a lot of the products the UK sell to the EU they will look to buy from elsewhere as there will now be cheaper alternative options. Once you can't sell as many products what will the companies do? Either downscale operations and reduce staff or just simply move to the EU in many cases.

You can trade like them but economically you are making life a lot harder for yourself.

Why?

Honestly have no idea about this stuff

 

[Neiler]

We have that's my point live with it!
I expected a remain vote but its an out vote - it will settle down in time

That figure isn't reflective mate, the UK is one economy that exports 8% to the EU, the EU 20+ economies export 40% to the UK. Your adding 20+ economies vs one the UK.

The 8% vs 40% is based on a ratio of countries 1:20 +. It actually indicates the the UK is more dependent on EU, Than the EU on the UK.

Surely this wasn't partnof a campaign was it.

 

[Bruce Wayne]

So why can't we trade like China and America

You can use standard WTO rules, but they aren't anywhere near as beneficial as our current rules, and don't include services at all, which is a huge issue for us. A good example is in financial services. There's currently a passport scheme whereby companies based in Britain can trade throughout Europe without having to have an office in the countries they're trading in.

Now we're out of the EU, that doesn't apply (or won't when we actually leave). That's why a lot of American banks have offices in London (well, one of the reasons).

 

[bobbydigital]

Why?

Honestly have no idea about this stuff

The EU has a free trade agreement which in simple terms removes the barriers to trade between countries. Without the free trade agreement protection there will be tariffs and other costs which effectively make the goods more expensive to people in the EU to buy.

A good example may be a car company. Will the average guy in the EU buy a car made in the UK now that it costs 10k more. Or will he opt for another option from the EU?
What happens to the car company now that they are selling less cars, do they make less and fire staff to cover the revenue loss? Do they move to the EU?

 

[Bruce Wayne]

Mate the EU is not a country, your talking 20+ countries there. Of course it's 8% vs 40% one county vs 20+. In fact they are frightening figures, 8% or your output is depended on the EU, 40% of what you import is dependent on the EU, that's not a good thing leaving the EU mate.

That's an important point that seems to be often overlooked when people argue that Germany et al would be crazy not to want to trade with Britain. They quite probably are, but there are some countries that do very little trade with Britain.

For Romania, for instance, there is much more importance in the movement of people than there is trade as they do little trade with us, so it's unlikely that they would approve any trade deal that doesn't involve free movement of people. It only takes one member to veto things.

 

[Neiler]

The EU has a free trade agreement which in simple terms removes the barriers to trade between countries. Without the free trade agreement protection there will be tariffs and other costs which effectively make the goods more expensive to people in the EU to buy.

A good example may be a car company. Will the average guy in the EU buy a car made in the UK now that it costs 10k more. Or will he opt for another option from the EU?
What happens to the car company now that they are selling less cars, do they make less and fire staff to cover the revenue loss? Do they move to the EU?

There are already representations being made by other EU countries through their strategic development arms to multi national companies in Britain mate.

 

[Bruce Wayne]

Option 2 also opens up the ability to trade with the rest of the world, the commonwealth and the EU, having your own trade agreements. It could improve the economy in the long run

I'm afraid it isn't as simple as that. A big reason for other countries to want to work with Britain is out gateway to the EU. We don't offer that any more so I'm not sure it will be as easy as people think. As Obama said, they're working on a trade deal with 27 countries so you can appreciate how that's a whole lot more valuable than doing so with each individually.

I mean think about it from our point of view. Would you want Britain to have to go out and strike trade deals with each of the remaining nations?

 

[Darth Vader]

The EU has a free trade agreement which in simple terms removes the barriers to trade between countries. Without the free trade agreement protection there will be tariffs and other costs which effectively make the goods more expensive to people in the EU to buy.

A good example may be a car company. Will the average guy in the EU buy a car made in the UK now that it costs 10k more. Or will he opt for another option from the EU?
What happens to the car company now that they are selling less cars, do they make less and fire staff to cover the revenue loss? Do they move to the EU?

The EU set these tariffs??

 

[Neiler]

That's an important point that seems to be often overlooked when people argue that Germany et al would be crazy not to want to trade with Britain. They quite probably are, but there are some countries that do very little trade with Britain.

For Romania, for instance, there is much more importance in the movement of people than there is trade as they do little trade with us, so it's unlikely that they would approve any trade deal that doesn't involve free movement of people. It only takes one member to veto things.

It may also suit other countries to marginalise Britan, Coutries who's economic plan is to attract foreign direct investment may want the UK out of the free market and try to attract new or moving multi nationals from Britain. Countries hoping Britain is a more difficult place to travel to Tourism. Countries with competing financial services centres or IT development may not want the UK in a free market because as it is liketo suit there economy and development. Each member state will have its own national agenda.