RE: Brexit29 Jul 2019 17:55
Hmm don't thinks so. The will not be any Brexit chaos as the EU can ill afford one. In all the negative coverage its been long forgotten that we trade at a significant deficit with the EU so in a tariff situation the impact on us will be less than vice versa. we can strike trade deals with orhers so that will mitigate too. It won't be long before we a "stand still " arrangement with Brussels. Forex markets will continue to squeeze Sterling in the meantime which will be good for exporters. Admittedly we may have to tighten our belts a bit when it comes to imported fruit and veg but then maybe if we throw away a little less before the sell by date we would not notice the difference to any real extent. Inflation even with sterling at this level is pretty tame and won't really do much going forward, We will see from the figures on Wednesday that Lloy is in great heath despite having had to carry the 400 gorilla of PPI for years. Unlike EU banks we put our house in order and are thus well able to cope with the "stress' of leaving the EU, The EU banks on the other hand did not repair the roof when we did and could now cost the best part of £half a trillion to put right. We don't want to be on the hook for any of that. A Corbyn govt will seek to nationalise and/or strangle the financial services sector to raise funds for their naive unworkable widely discredited idiotic economic policies. The financial instability this would cause would be well outside the Armageddon scenarios the BOE has concocted to date and has seen Lloy pass with flying colours. We have a PM who is not afraid to tell it how it is and if the Scotts p$ss him off he will no doubt remind them who is funding them and who they are trading with as Bruce has already pointed out earlier. Nicola's Scotland will find no warm bed in the EU and when push comes to shove I suspect many Scots are well aware of the Hobson's choice facing them.
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