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Why would the EU want to encourage UK exports to the EU aided by perhaps a 30% cumulative Sterling devaluation rendering EU competitors un-viable? Why not maximize the opportunity to replace UK exports of goods and services with indigenous EU products and services? Can the EU really afford to continue being dependent on a non-member for the production of vital goods and services?
Isn't this backwards? The eurozone has a 1% current account surplus with the UK. It's the EU that is the net exporter in this relationship, not the UK.

In fact it could be a good thing for the eurozone to lose a bit of its surplus.

A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman

by Migeru (migeru at eurotrib dot com) on Mon Sep 3rd, 2018 at 08:50:44 AM EST

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