Posted on 01/27/2019 2:15:36 PM PST by Berlin_Freeper
The UK will be unable to have frictionless, tariff-free trade under World Trade Organization rules for up to seven years in the event of a no-deal Brexit, according to two leading European Union law specialists.
The ensuing chaos could double food prices and plunge Britain into a recession that could last up to 30 years, claim the lawyers who acted for Gina Miller in the historic case that forced the government to seek parliament’s approval to leave the EU.
It has been claimed that the UK could simply move to WTO terms if there is no deal with the EU. But Anneli Howard, a specialist in EU and competition law at Monckton Chambers and a member of the bar’s Brexit working group, believes this isn’t true.
“No deal means leaving with nothing,” she said. “The anticipated recession will be worse than the 1930s, let alone 2008. It is impossible to say how long it would go on for. Some economists say 10 years, others say the effects could be felt for 20 or even 30 years: even ardent Brexiters agree it could be decades.”
The government’s own statistics have estimated that under the worst case no-deal scenario, GDP would be 10.7% lower than if the UK stays in the EU, in 15 years.
(Excerpt) Read more at theguardian.com ...
Oy Vey, the UK is in a globalist quandary. It recognizes foreign state sponsored mosques since it is a theocracy itself (the US does too but at least we have a precedent in repressing texts of the Anglican prayers to the King to justify repelling islamic mosques and globalist state terrorism infiltrating the WTO language). So the EU is on to them. IT will be ironic when the UK will become a real nation and exit the WTO altogether and gets back to contracts like Magna Carta and stopping paying the queen.
I suspect that too...why does Brittan need to trade with the EU at all....I bet the united states would love to sell our agricultural products over there. the real reality is if Brittan plays nice on trade deals we will to.
They don’t need to if they’re willing to give up 44% of their exports and 53% of their imports.
The Euros are plenty willing to ‘help’ other countries when it suits them. However, cross them and they’ll cut you off at the knees citing the ‘rules’ all the while. Great guys. Remind me the next time you get to moralizing.
Its Project Fear all over again. This is of course just more ridiculous fearmongering.
Free trade will be negotiated... the wto has no say
Modern _experts_ are a huge piece of the wrong; the lost.
So we are very probably looking at a global recession, with no end in sight.
Bahahahahahaha!
I believe its even more than that. Absentee ballots should be terminated. Vote on voting day at the designated polling place on paper ballots. The military should have polling places at all permanent installations, but if you are out of your community, you dont vote. I wouldn’t vote occasionally for that reason.
The friggin’ sky in falling. It’s worse than anyone thought. It’ll never get better. How can they survive.
Well, maybe the muzzies will quit washing ashore, at least.
re: “UK cannot simply trade on WTO terms after no-deal Brexit”
Bet me.
Money still “talks”.
“The Gaurdian -read no further.”
exactly ...
And to top off the historic recession, climate change will kill the last Brit in a slow and agonizing yo-yoing of hot and cold and calm and stormy conditions with drought and floods tossed in for spice.....
The EEC was never a good idea. Even at this early stage it was a protectionist bloc that hampered our trade with the rest of the world by forcing us to erect tarriffs against countries outside the bloc. We shafted our Australian and NZ bretheren who were heavily dependent on exports of lamb, butter and other agricultural goods to the UK at this time and I’m amazed they still have such goodwill towards us after the way we stuffed them over so that we could embrace our historic enemies.
NAFTA is to be replaced with USMCA - and to get all three to agree to adding in the UK and the UK to agree to removing its own rules and regulations will take years of discussions if anything is agreed
Why does it take years to drop tariffs? It should take 5 minutes.
Much of the British manufacturing industry relies on Europe-wide supply chains where parts criss-cross borders. With a no-deal Brexit, this ends. So companies are moving to the continent. Many non-European companies kept the UK as their base entry into the EU. But now they are moving to different countries in the EU -- such as Kimberley Clarke, etc.
As long any agreement ensures American factories are closed and Americans are put out of work then you are good with it.
and "stopping paying the queen" - what are you talking about? The money paid to the queen are earnings from royal properties that are legally owned by the Queen.
Oh BS. They can raise their tariffs and retaliate. Then have a non tariff relationship wit the USA. The UK runs huge trade deficits every year so the EU has a lot more to lose than the UK.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.