Brexit may send EU 'down the drain' - German vice chancellor

[lungbing]

If the loss of about 4% of an institution causes the whole thing to collapse then it wasn't strong to start with.  

[MJP]

4 minutes ago, lungbing said:

If the loss of about 4% of an institution causes the whole thing to collapse then it wasn't strong to start with.  

 

I suspect a lot of politicians around Europe want the thing gone.

[AlexRich]

16 minutes ago, MJP said:

 

Just an anecdotal. But . . . 

 

Off the back of Brexit, one of our "EU" based clients has increased investment in the UK by £7 billion, their board overjoyed at the referendum result. Before the vote their German finance director was urging all the Brits on site to vote Leave. He said, if the UK leaves the EU, I'm moving to the UK and bringing all my money with me. He reckoned the EU was a disaster. 

 

There are always people who benefit ... a small hovercraft company (interviewed before the vote) in the UK would have been happy, as would anyone in the staycation business. But that, in itself, doesn't mean it was a good thing for the country ... our currency is lower, whilst benefiting large FTSE it's not good for domestic firms that buy overseas, lower interest rates hammer banks and savers,  and the country will have to take on more debt ... my view is that the benefits to those who gain is outweighed by those who lose ... an overall loss. 

[MJP]

Just now, AlexRich said:

 

There are always people who benefit ... a small hovercraft company (interviewed before the vote) in the UK would have been happy, as would anyone in the staycation business. But that, in itself, doesn't mean it was a good thing for the country ... our currency is lower, whilst benefiting large FTSE it's not good for domestic firms that buy overseas, lower interest rates hammer banks and savers,  and the country will have to take on more debt ... my view is that the benefits to those who gain is outweighed by those who lose ... an overall loss. 

 

Not the opinion of our biggest client, which happens to be one of Europe's biggest privately owned firms. But who are they to know?

[AlexRich]

Just now, MJP said:

 

Not the opinion of our biggest client, which happens to be one of Europe's biggest privately owned firms. But who are they to know?

 

Who are they indeed? As I said, not everyone will lose ... Bamford JCB was a big supporter of Brexit ... Of course they benefit from a weak sterling. Merlin Entertainments might benefit if more people holiday in the UK and more foreigners visit due to weak currency. But that is at the individual firm level, not the country level ... so your client may have been perfectly rational, but that does not mean the country was.

[Naam]

8 hours ago, ilostmypassword said:

You're mixing up the EU with the Eurozone. Actually, it would be a good thing to get rid of the Euro.  It has basically allowed Germany to prosper at the expense of the poorer members of the Eurozone.

 

it goes without saying that Germany's prosperity is based on the contributions siphoned from poor member states by the Brussels mafia into the vaults of the German Central Bank. Germany will also badly miss the billions of Sterling from the United Kingdom which were used to enhance the quality of German products and lower their prices to boost exports.

 

next!  

[MJP]

2 minutes ago, AlexRich said:

 

Who are they indeed? As I said, not everyone will lose ... Bamford JCB was a big supporter of Brexit ... Of course they benefit from a weak sterling. Merlin Entertainments might benefit if more people holiday in the UK and more foreigners visit due to weak currency. But that is at the individual firm level, not the country level ... so your client may have been perfectly rational, but that does not mean the country was.

 

I can't say, but think pine furniture and allen keys.

[Top man]

8 hours ago, AlexRich said:

 

You're still basking on the economic benefits of still being in the EU set up; like an oil tanker, an economy doesn't turn on a sixpence, and certainly not in 2 months. You're referring to the strength of the economy as an EU member, not as a country that is outside of the EU. 

 

We're still in the EU, we haven't left yet. Since 1973 when we joined the UK has been the fastest growth major economy in Europe, between 1950 and 1972 it was the slowest. So we may actually be reverting back to our 1950 performance, we just don't know until we are out and we are clear on the terms of trade with the EU. They just don't mention these things in the The Sun and the Daily Mail.

 

What the German is saying is that there is no incentive to negotiate a good deal with the UK, in other words, there is an incentive to negotiate a bad one! So the uncertainty and constant leaks when the negotiations get underway after Article 50 is triggered will create even more instability ... not great for inward investment and you will likely see EU headquarters of multinationals and banks transfer to mainland Europe. They want free trade with 500 million plus people, not 60 million. Domestic firms will be more cautious also, not good for employment. And immigration continues unabated, so more people competing for fewer jobs. 

 

But not to worry, we have Boris, Liam and David bumbling along completely clueless as to what it takes to build trade deals ... they are busy fighting amongst themselves ... fiddling as Rome burns! 

 

What a mess! The funny part is that it is self-inflicted. And idiots gloat at this great victory! Hooray ... let's build some warships and retake the Empire ... for England and St George! 

 

 

 

What a pathetic specimen of a human being you really are.because people want control of their own country you say they are idiots. While you're probably seating somewhere in Thailand. U <deleted> low life. 

[happy Joe]

Clearly the German Vice Chancellor announced that there will be no gifts or breaking arrangement granted to the British.

 

He recalled that the only successful way out would be a status where the incumbent retains all rights and duties of members, but without participating in the decisions. (Norway statute)

 

Good luck Brits, we Europeans were not finished laughing.

[Top man]

1 minute ago, happy Joe said:

Clearly the German Vice Chancellor announced that there will be no gifts or breaking arrangement granted to the British.

 

He recalled that the only successful way out would be a status where the incumbent retains all rights and duties of members, but without participating in the decisions. (Norway statute)

 

Good luck Brits, we Europeans were not finished laughing.

Have you actually seen how much we have traded with China since the vote. Go away you little child. 

[Seraphina]

Was this the same Vice Chancellor who said, shortly after the Brexit vote, "Well, you know, this means that English doesn't have to be the common language anymore". After I stopped laughing, I thought of retraining as a lawyer because they would certainly benefit if everyone reverted to their own language. French would be a disaster and we already know that Esperanto was a colossal failure and French wouldn't be much better. Many French youngsters nowadays don't even know the plural of: 'the original'. Pfff, les  jeunes!

[Linzz]

20 minutes ago, happy Joe said:

Clearly the German Vice Chancellor announced that there will be no gifts or breaking arrangement granted to the British.

 

He recalled that the only successful way out would be a status where the incumbent retains all rights and duties of members, but without participating in the decisions. (Norway statute)

 

Good luck Brits, we Europeans were not finished laughing.

 

You maybe laughing on the other side of your face since you are run by politicians and officials who will never admit they're wrong so can never reverse their policies that are ruining the EU. Now the ECB is heading towards disaster with it's negative interest rates which is not working. So where to next? Pension funds will go broke. Countries will withdraw from the economic austerity forced upon them by Merkel.They're clearly worried because the threats are just window dressing and they know that the UK is their biggest market. Lucky escape for the UK. Marxist/ Keynesian economics and uncontrolled borders and one size fits all imposition on different countries with different cultures and languages cannot work. It's not the US with one language though the intention originally was to be the US of Europe. The Federation of the USSR failed too.

[gchurch259]

I never understood the need for a Super Power Government to tell the other Governments how to run the countries !!

 

Oh, Damn I forgot we in the US have that same problem The Federal have taken over almost all faciet of what is Sovereign State Rights.

 

Who thinks Big Government is good other than Communist Countries ?? 

[Red Parrot Fish]

13 hours ago, jaidam said:

The German vice chancellor is choking on his sour grapes. Remember they warned the UK would have financial crisis if it chose to Brexit? Well, since we decided to Brexit the British economy is going great guns, strong growth on all fronts - increased consumer demand, job creation, less borrowing, higher FTSE. It's all good. Meanwhile the German economy has weakened since Brexit - with no hope for any recovery.

 

 Brexit is the gift that never stops giving. Every moan and whine only increases the pleasurable bask in the sun that is post Brexit Britain. Hooray.

 

And sterling continues it's downwards path. You think this is a success? 

[Red Parrot Fish]

11 hours ago, AlexRich said:

 

You're still basking on the economic benefits of still being in the EU set up; like an oil tanker, an economy doesn't turn on a sixpence, and certainly not in 2 months. You're referring to the strength of the economy as an EU member, not as a country that is outside of the EU. 

 

We're still in the EU, we haven't left yet. Since 1973 when we joined the UK has been the fastest growth major economy in Europe, between 1950 and 1972 it was the slowest. So we may actually be reverting back to our 1950 performance, we just don't know until we are out and we are clear on the terms of trade with the EU. They just don't mention these things in the The Sun and the Daily Mail.

 

What the German is saying is that there is no incentive to negotiate a good deal with the UK, in other words, there is an incentive to negotiate a bad one! So the uncertainty and constant leaks when the negotiations get underway after Article 50 is triggered will create even more instability ... not great for inward investment and you will likely see EU headquarters of multinationals and banks transfer to mainland Europe. They want free trade with 500 million plus people, not 60 million. Domestic firms will be more cautious also, not good for employment. And immigration continues unabated, so more people competing for fewer jobs. 

 

But not to worry, we have Boris, Liam and David bumbling along completely clueless as to what it takes to build trade deals ... they are busy fighting amongst themselves ... fiddling as Rome burns! 

 

What a mess! The funny part is that it is self-inflicted. And idiots gloat at this great victory! Hooray ... let's build some warships and retake the Empire ... for England and St George! 

 

 

 

 

Great post. 100% correct.

[Johnyo]

they need to remember that trade works both ways, as for immigration - I don't think anyone has or will complain about skilled people coming to the UK to work provided they actually have a job - contribute to the economy and are not allowed welfare unless they have made suitable contributions "in the UK".............as for refugees - well that is a different matter entirely

So according to your reasoning all British retirees who have never contributed to the Spanish/ French/ Italian etc system should not have access to their health systems?


Sent from my iPhone using Thaivisa Connect

[swissie]

After the Brexit negotiations are done in 2 to 5 years, there will be statements issued by the EU and the UK "That the Brexit was successfully  concluded for the benefit of the UK and the EU."

During that time (behind closed doors), Bi-Lateral Agreements between the EU and the UK will be hammered out to the extent, that negative economical Brexit effects will be neutralized. Basically, the Brexit will prove to be a political " non-event".

Cheers.

 

[AlexRich]

2 hours ago, Top man said:

Have you actually seen how much we have traded with China since the vote. Go away you little child. 

 

Is that the same China who's daily newspaper described the UK after the vote as having a "loser mentality"? 

 

Trade since the vote? How would that change since 23 June? Any trade that took place did so with a UK that was in the EU ... and, you might not know this, we still are in the EU.

[Basil B]

Now I understand the term "Sour Grapes"

 

Drinking cheap plonk made from sour grapes = belly ache 

[Andaman Al]

What will send the EU 'down the drain', is the fact that it is not working and the bureaucracy is costing untold billions and billions per year. Suddenly the UK is so important. What a shame it wasn't treated as such. The sooner May executes the exit strategy the better.

[peterb17]

7 hours ago, Baerboxer said:

 

More than your turnip heap did eh?

 

7 hours ago, phantomfiddler said:

Nice to know the Brits finally accomplished something worthwhile

 

 

Interesting of course that your post is in English - that very small island has had more influence on the planet than any other country. 

 

I met up yesterday with a German friend - who had been back home for a couple of months - she hated what was happening to her country- and said that many at home wished they could do what the Brits voted for. 

 

I think if are not British you don't quite understand the determination of that small kingdom .

 

In a few years - it will be good. 

[Naam]

34 minutes ago, peterb17 said:

that very small island has had more influence on the planet than any other country

true! but the emphasis is on "had" 

[hawker9000]

17 hours ago, craigt3365 said:

I hope the EU stays together.  Dealing with multiple currencies and visas was a pain for travelers!!!!

 

Well, you don't need an EU to deal with visas.  Easy for the countries involved to negotiate all that away if they wish without any need whatsoever for an expensive, sovereignty-sapping big brother in Brussels.  And while you may have found some convenience for yourself in the single currency, there was certainly a downside as well.

 

[i claudius]

20 hours ago, AlexRich said:

 

Greece should never have been allowed to join the Euro in the first place, they gave money to Goldman Sachs to fiddle their books. They then went on an epic borrowing binge, and are inherently corrupt. They now find themselves in a mess of their own making, and will most likely have to leave the Euro as the others will tire of bailing them out and the Greeks will not be able to sustain the austerity. Greece cheated their way into the Euro and are now paying the consequences.

 

The UK never joined the Euro, and played by the rules. The comparison doesn't make much sense. As Greece was getting worse, the U.K. was improving, with the highest growth of all ... within the EU ... not outside. 

 

15 hours ago, AlexRich said:

 

The common view that unites Europe currently is that the UK will get a worse deal on leaving than staying, the French will try to manoeuvre to their own advantage, but essentially the EU will have the whip hand in negotiations. You presume that it is just business as usual, I think you are wrong there ... the UK leaving has put a halt to further integration ... perhaps the one good thing to come out of this. The Germans want to keep the EU together because it has been good economically and has encouraged good relations rather than wars, something that is overlooked. I don't think for one second that Merkel is concerned about a backlash internally in Europe should the terms on the UK be viewed as harsh. She is playing the 'good' cop, just like she did during the Greek crisis. The ultimate aim is to ensure that the terms of exit are poor, and are seen to be poor ... and we shall see this once the negotiations are underway.

 

 

 Well if the Greeks "fiddled" their way in ,it was with the full cooperation of Brussels , the way they let in Romania ,latvia , Slovakia and uncle tom cobly and all and the way they want Turkey to join the happy bunch , so please dont make us laugh .

[i claudius]

13 hours ago, happy Joe said:

Clearly the German Vice Chancellor announced that there will be no gifts or breaking arrangement granted to the British.

 

He recalled that the only successful way out would be a status where the incumbent retains all rights and duties of members, but without participating in the decisions. (Norway statute)

 

Good luck Brits, we Europeans were not finished laughing.

 

 

See how much your laughing when your clinging to the wreckage ,while we sail away in our nice new lifeboat .

[AlexRich]

22 minutes ago, i claudius said:

 

 Well if the Greeks "fiddled" their way in ,it was with the full cooperation of Brussels , the way they let in Romania ,latvia , Slovakia and uncle tom cobly and all and the way they want Turkey to join the happy bunch , so please dont make us laugh .

 

Turkey? Now I'm laughing ... you actually bought that?

 

 

[useronthenet]

Germany has just realized that the 2nd biggest financial contributor will leave a huge hole in the coffers. I wonder where they will find the shortfall?

[dick dasterdly]

10 hours ago, Andaman Al said:

What will send the EU 'down the drain', is the fact that it is not working and the bureaucracy is costing untold billions and billions per year. Suddenly the UK is so important. What a shame it wasn't treated as such. The sooner May executes the exit strategy the better.

Exactly.

 

My gripe regarding the EU is the cost.

 

Bureaucracy/way OTT salaries/the 'govt' frequently moving between two locations - its ridiculous, horrendously expensive and unjustifiable.

 

And that's before we start talking about some member countries ignoring the regulations they don't like - whilst others enforce every regulation.

[MockingJay]

Europe is already down the drain, so stop whining!

[Grouse]

15 hours ago, MJP said:

 

I can't say, but think pine furniture and allen keys.

 

IKEA would like to do more manufacturing in the UK because of the weak GBP. However, they can't find people in the UK who can assemble furniture