EU Australia FTA negotiations fail

The inflation calculator takes that into account Dan.

NOW, run this through your head.
The pound was overvalued before the referendum.
As a result British exports cost more than they should have done.
Thus British exports were down.

£223.3 billion in 2015 was exported to the EU.
That's equivalent to £293,210,519,657.90 now.
£340 billion in 2022 was exported to the EU.

Stop grumbling, we'd be in a real mess and a recession if we'd stayed.
All so you could enjoy free movement ?
Sorry, but fuck that.
It's not worth the economic harm it was doing.

Actually I was thinking 'more a load of cobblers' especially your account of the GBPEUR exchange rate movements before and after the referendum.

As a matter of fact, the exchange rate was broadly similar between mid-2007 and the present, bumping along in the €1.10 to 1.25 range (mostly below 1.20). The pound did start to strongly appreciate in the summer of 2015 as a result of the Greek debt crisis and talk from the BoE about interest rate rises.

www.theguardian.com/business/2015/jul/17/strong-pound-good-for-holiday-bad-for-homeowner

But it all came back to earth with a bump immediately after the referendum so the so-called 'overvalued pound' only existed for a few months in 2015 and early 2016. Apart that from the pound was historically low for over 15 years after the earlier collapse in late 2007 when it plunged from €1.47 to almost parity in just a few months.

But I'll bid you good-day and leave you to dig up some more ripping yarns from the Brexit Big Book of Economic Fairy-tales.

"The pound had been severely overvalued before the referendum."

Brarp wrong again.

Before the referendum the pound was at around the same value against the Euro beween mid-2007 (when it collapsed as a result of the financial crisis) and late 2015 when it started to appreciate for reasons already explained. In the Spring of 2016 it collapsed again and has remained at its historically low levels ever since.

The myth of the 'overvalued pound' might have had validity between 1999 and 2007, but since then it doesn't (apart from the aforementioned 2015/16 'blip') and certainly doesn't now. So put that in your inflation machine and smoke it.



Since you continue to re-present the same old chestnuts this conversation has reached the terminus as far as I'm concerned.

Oh gawd yet more vinnyesque rhubarb. How to stem the flow?

Loss of trans european police coordination.
Huge loss of foreign direct investment.
Having to beg to get access to Horizon
Cut out of Galileo programme.
Lowest GDP growth in G7.
Further costs to to EU when UK citizens need to buy visas next year.
Closure of small businesses who dealt with the EU due to higher costs and time impediments to supply.
Prohibition due to costs of UK arts groups touring the EU.
The loss of international respect.

But worst of all, the ease with which the UK population was lied to.
And the few remaining hollow heads who still hear those lies.
I still cannot believe that the promises made by those lying corrupt opportunists were accepted as possible.
I am still waiting for Germany to collapse because British arent buying their cars, and the first of 40 new hospitals.
I also am still amazed at how little British voters know about other places and even the basics of economics.

I see NONE of the Brexiteers promises happening. I only see depression, real hardship, a crash on the standard of living, a collapse of the medical care, a depletion of national defense, a crumbling of innovation (except in genetic research), and a loud mea culpa mixed with hopeless "now what".

I am not intetested in endless quibbles over tiny monthly percentages as proof of success.
Brexit was sold as the gateway to a new British renaissance where governments could work for the british people and could be voted out if necessary.

I am still waiting 7 years on.

how can they be doing better if they are in recession and we are not?


is a recession a sign of economic strength now?