Brexit, the economy and house prices (Part 3)

mayonnaise

Back from a well deserved break hiking in Patagonia (that's in South America for the Brexiteers among you). I'm sure you all missed me.

Another success story from the Eurozone:

Portugal’s comeback is the eurozone’s socialist success story

Junk no more. Portugal has cemented its position as the eurozone’s comeback kid after securing a much-prized return to investment grade debt status last week.

https://www.ft.com/content/8d397578-9d06-11e7-8cd4-932067fbf946

Thrugelmir

mayonnaise wrote: »

Another success story from the Eurozone:

Portugal is a country not the Eurozone.

A_Medium_Size_Jock

Good news indeed for Portugal.

Other Eurozone highlights from this week:
Germany's Schauble warns of EU divisions:
http://uk.reuters.com/article/uk-germany-election-schaeuble-britain/schaeuble-warns-against-divisions-in-europe-after-brexit-nonsense-idUKKCN1BT1FB?il=0

Troubles with migration enter what might at last be a new phase:
http://www.cbc.ca/news/world/italy-migrant-crisis-europe-1.4294155
http://www.politico.eu/article/viktor-orban-migration-eu-has-won-the-argument/

Irish homeowners face a shock, courtesy of the EU:
https://www.thesun.ie/money/1547803/irish-homeowners-face-major-property-tax-shock-if-europe-forces-us-to-revalue-homes-in-2018/

Catalonians look unlikely to get a legal referendum on independence:
http://uk.reuters.com/article/uk-europe-view-tuesday/daily-briefing-spains-catalonia-stand-off-deepens-idUKKCN1BU0PD

mayonnaise

Thrugelmir wrote: »

Portugal is a country not the Eurozone.

Captain Obvious strikes again.

mayonnaise

Jack_Johnson_the_acorn wrote: »

Why would anyone take you seriously when you post links to a site that states it's goal is to" help promote the positive vision of Britain after Brexit." That's like saying look at this article about Nazism written by Hitler... But don't reject just because it was written by Hitler.

Get a grip man. It's a highly spun opinion piece by a supporter of brexit on a pro brexit website. Not much to debate. Maybe you would like to make a coherent argument based on facts rather than posting links to spin.

Well said.

ukcarper

ilovehouses wrote: »

Pssst. We already know that - Brits buy French wine, Spanish tomatoes and German cars not because the 'Eurocrats' force us to but because the consumer chooses to.

If we leave without a deal it'll be up to the UK government to decide if they'll impose import tariffs on EU imports. They don't have a completely free hand (the faceless unelected technocrats at the WTO impose certain restrictions ).

Don't worry about buying stuff - there will always be a queue of people wanting to flog us stuff. It's the selling you need to worry about.

Our trade deficit with EU is £70 billion, they sell to us £310 billion of goods and services. They might well be prepared to sacrifice that trade for political reasons but to say it will not impact on them is ridiculous.

A_Medium_Size_Jock

ilovehouses wrote: »

Pssst. We already know that - Brits buy French wine, Spanish tomatoes and German cars not because the 'Eurocrats' force us to but because the consumer chooses to.

If we leave without a deal it'll be up to the UK government to decide if they'll impose import tariffs on EU imports. They don't have a completely free hand (the faceless unelected technocrats at the WTO impose certain restrictions ).

Don't worry about buying stuff - there will always be a queue of people wanting to flog us stuff. It's the selling you need to worry about.

Perhaps you should ask Euronews for an interview so that you may similarly allay French wine producers fears?

System

ukcarper wrote: »

Our trade deficit with EU is £70 billion, they sell to us £310 billion of goods and services. They might well be prepared to sacrifice that trade for political reasons but to say it will not impact on them is ridiculous.

How can they sacrifice that trade? Ban companies selling to the UK after brexit?

We decide what we want to buy and, with some WTO restrictions, decide whether to reduce that trade by putting tariffs on EU imports.

A difficulty with WTO terms is that there must be no discrimination so the EU can't give us a favourable 0% tariff on a product if it's not given to others (there are exceptions). So if we leave the EU without a deal the EU will have to impose tariffs or reduce them for everyone else too.

I expect the UK and the EU to maintain the current tariff nomenclature and the UK will promise to make changes when the EU change theirs via some mechanism or other.

ukcarper

ilovehouses wrote: »

How can they sacrifice that trade? Ban companies selling to the UK after brexit?

We decide what we want to buy and, with some WTO restrictions, decide whether to reduce that trade by putting tariffs on EU imports.

A difficulty with WTO terms is that there must be no discrimination so the EU can't give us a favourable 0% tariff on a product if it's not given to others (there are exceptions). So if we leave the EU without a deal the EU will have to impose tariffs or reduce them for everyone else too.

I expect the UK and the EU to maintain the current tariff nomenclature and the UK will promise to make changes when the EU change theirs via some mechanism or other.

That's why they would benefit from a deal as we will have to impose tariffs on them. They might well be prepared to risk the trade by not giving us a deal but it will impact on them and they will lose some trade just as we will. No deal is bad for both sides you seem to be ignoring that.

Conrad

ilovehouses wrote: »

Don't worry about buying stuff - there will always be a queue of people wanting to flog us stuff. It's the selling you need to worry about.

On the one hand you say tariffs and barriers wont affect European exports to us, on the other that these barriers will harm the UK economy.


Jeeze, no wonder this debate is still stuck where it was 24 months ago