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£65 Billion withdrawn from UK - Brexit ruining economy already Watch

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    (Original post by JordanL_)
    it's growing.
    At the slowest rate on the planet, bar Antarctica.
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    :facepalm:I'm obviously referring to the part that the UK will be making more than 65bn outside the EU.

    Whoops.
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    (Original post by *Stefan*)
    :facepalm:I'm obviously referring to the part that the UK will be making more than 65bn outside the EU.

    Whoops.
    That's common sense. Exchanging the world's only failing economy with multiple non failing ones, seems pretty logical it would make more.
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    (Original post by Jebedee)
    That's common sense. Exchanging the world's only failing economy with multiple non failing ones, seems pretty logical it would make more.
    Common sense for the economically illiterate.

    EU is a failing economy? It is the biggest, most successful in the world. You need to get your facts checked.
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    (Original post by *Stefan*)
    Common sense for the economically illiterate.

    EU is a failing economy? It is the biggest, most successful in the world. You need to get your facts checked.
    "Most successful"

    Didn't realise having the slowest growth on the planet (bar antarctica) was "successful"
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    (Original post by EuanF)
    "Most successful"

    Didn't realise having the slowest growth on the planet (bar antarctica) was "successful"
    As I said, for the economically illiterate.

    You do realise that Europe, being the largest economy in the world, cannot grow like Asia right?

    And Asia is paying the price for its massive growth already.

    Bu whatever floats your boat. If you think the UK will be making billions despite the clear-cut reluctance of other countries to talk on deals then there's nothing one can do.
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    (Original post by The Financier)
    I'm moderately in favour of Remain, but I think this £65 billion figure is misleading. If you have a subscription to the FT, Chris Giles explains it very well, but if not, the crux is that much of the figure is probably explained by people reducing exposure to Pound Sterling in case it's value falls from a Brexit scenario.

    Whilst you have £60 billion less in sterling denominated liabilities in March, you have £42 billion more liabilities in other foreign currencies so much of it is coming back, just in a different form. If billions were leaving the economy permanently (i.e. capital flight) you'd see less deposits in UK Banks but data in March showed a £10 billion rise in deposits. In other words, the bulk of this originates from currency risk mitigation and does not represent the damage done to the economy.

    That isn't to say that no-one has pulled out their money permanently in case of Brexit, nor that no-one will do so in the event of a Leave vote, just that the figure exaggerates the actual damage done so far.
    You should get an award for being the first sensible post in this thread.

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    (Original post by *Stefan*)
    As I said, for the economically illiterate.

    You do realise that Europe, being the largest economy in the world, cannot grow like Asia right?

    And Asia is paying the price for its massive growth already.

    Bu whatever floats your boat. If you think the UK will be making billions despite the clear-cut reluctance of other countries to talk on deals then there's nothing one can do.
    It isn't the largest.
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    (Original post by *Stefan*)
    Common sense for the economically illiterate.

    EU is a failing economy? It is the biggest, most successful in the world. You need to get your facts checked.
    Source?
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    (Original post by Jebedee)
    Source?
    http://ec.europa.eu/trade/policy/eu-...e/index_en.htm

    Or link for a much more elaborate (and more recent) source
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    (Original post by *Stefan*)
    http://ec.europa.eu/trade/policy/eu-...e/index_en.htm

    Or link for a much more elaborate (and more recent) source
    So when you subtract a big chunk of that trade which represents the UK it is no longer the number one economy in the world is it? The trade between UK and other world economies, with the added factor that we will still have EU trade because they simply can't afford to cut us off, puts the UK in a better position.
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    (Original post by Jebedee)
    So when you subtract a big chunk of that trade which represents the UK it is no longer the number one economy in the world is it? The trade between UK and other world economies, with the added factor that we will still have EU trade because they simply can't afford to cut us off, puts the UK in a better position.
    Did you seriously just say this? What kind of logic is this?

    And if you remove California and New York from the US it won't be the 2nd largest either. The UK has benefited enormously being in the EU with regards to trade. You can't simply say - oh look, if we remove the UK, it'll fall. That missed the point entirely.

    Yeah, look how certain Schauble is - http://www.theguardian.com/politics/...-schauble-says

    It's hilarious that people think they can leave and continue to get the benefits as well. As he says, the UK either stays or leaves. Leaving and trying to get another deal would lead to the same position.
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    (Original post by Proximo)
    Honestly, when jobs are at risk, people's lives, I can tell I don't really care about "taking about control", not being homeless is a bit more important.
    Don't worry, when we leave the EU we'll have control of immigration and have a quarter of a million less people to find jobs and homes for each year. Unemployment and homelessness should fall, and hopefully house prices with it.

    Don't believe the scaremongering. Sure some people will lose jobs, but there will be a lot less competition for new jobs.

    Being in the EU never guarantees job security anyway, look what happened to the fishing industry and they prevent us implementing tax reliefs and other aids for industries that need them such as the steel industry.
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    (Original post by Jebedee)
    We're allowed 2 years grace before any trade is affected, by then we would have found more alternative sources of trade. Which will amount to more than £65m.
    Why don't we find £65 billion in trade now rather than waiting for it to disappear and having to find it later?
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    (Original post by *Stefan*)
    Did you seriously just say this? What kind of logic is this?

    And if you remove California and New York from the US it won't be the 2nd largest either. The UK has benefited enormously being in the EU with regards to trade. You can't simply say - oh look, if we remove the UK, it'll fall. That missed the point entirely.

    Yeah, look how certain Schauble is - http://www.theguardian.com/politics/...-schauble-says

    It's hilarious that people think they can leave and continue to get the benefits as well. As he says, the UK either stays or leaves. Leaving and trying to get another deal would lead to the same position.
    I don't care about scare tactics dude, 20% of German cars are sold here so it is crazy to think the Krauts would turn their back on that volume of trade just to punish us for leaving. Obviously the EU won't come crashing down just because we've pulled out but they will want to retain trade that they value rather than see it go elsewhere.

    (Original post by Maker)
    Why don't we find £65 billion in trade now rather than waiting for it to disappear and having to find it later?
    Well we will be as soon as the referendum is settled.
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    (Original post by Jebedee)
    I don't care about scare tactics dude, 20% of German cars are sold here so it is crazy to think the Krauts would turn their back on that volume of trade just to punish us for leaving. Obviously the EU won't come crashing down just because we've pulled out but they will want to retain trade that they value rather than see it go elsewhere.



    Well we will be as soon as the referendum is settled.
    I think this £65 billion is a myth, if it was there for the taking, it would have been taken already.

    I think a lot of Brexiters are under the impression getting new business is easy and they can just drop business from the EU and pick more up from the US, China etc.

    I don't think there are a lot of Americans and Chinese just waiting around for the British to take their money. They are already buying stuff from other people and the British will have to work hard and spend money to try to get their business.
 
 
 
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