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This is an exaggeration as have been and are so many claims coming out of Tory gov. It's not worth repeating.

Eurotrib has had the opportunity to review EU 2017 WTO portfolio. No EU third-country duties approach 50% much eless 20% or 15%. Eurotrib has had the opportunity to review EU BREXIT impact papers estimating 4% tariff which is line with EU favored nation ask. Currently, EU tariff on UK imports is 0. It will remain 0 until March '19 or March '21.

Any tariff greater than 0 is the number driving prospects of "permanent insanity or piracy" through the UK.

And Eurotrib has had the opportunity to review the EU-UK joint notice to WTO regarding quota divestment. EU is highly unlikely to short UK import quota in re-balancing EU27 WTO commitments, if only to support IE's small-holders' beef & dairy exports to UK, their largest trade partner. In the scheme of things, this business is marginal to EU internal and EU-UK trade balances.

IE's and UK's biggest losses are going to come from transnational banking and financial services. That's the way it is. The writing was on the wall from '12, when Draghi took on decimating eurozone bond rates and yield. "Austerity" finished the City, ironically. This is one reason why Barnier is so confident. UK has no leverage.

Pun intended.

Diversity is the key to economic and political evolution.

by Cat on Tue Jan 23rd, 2018 at 12:46:29 AM EST

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