Brexit Phase Two - Trade

skid2

LE
Book Reviewer
So we've been offered a temporary customs arragement. Wow, I wonder what that means. I'm glad Sammys impressed that it has nothing to do with an actual customs union.
 
I do?
And I will. As soon as the report which manages to satisfy the DUP, the eu and the Irish government turns up.
It won't satisfy the Comission, although it was written on their behalf
 
Freedom of movement.
ITV NW Tonight have got their knickers in a twist about rough sleepers dying 'in the current cold weather'? They are running a story about some rough sleeper getting a kicking in Blackpool. A despicable act IMHO.
Cuts to an interview with the victim, an Eastern European with little grasp of English.:confused:
So why hasn't this unemployed bloke not been sent home as per EU rules?
 
Uncle Nige on LBC at the moment, until 1900.:cool:
 
So why hasn't this unemployed bloke not been sent home as per EU rules?
Indeed.
The whole migration issue has been blown wide open, thanks to Brexit. Name me one party that included tackling immigration in their manifesto other than UKIP?
Politicians of all marks have been shafting us for decades. It wasn't even discussed until the brexit run up, to do so was 'wacist'.
 
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Wordsmith

LE
Book Reviewer
That means the E.U. is going to move the goalposts to allow a 3% deficit.
It doesn't need to move them - it already allows for a 3% budget deficit. The problem is one of the other criteria.

Euro convergence criteria - Wikipedia
Government debt-to-GDP ratio: The ratio of gross government debt (measured at its nominal value outstanding at the end of the year, and consolidated between and within the sectors of general government) relative to GDP at market prices, must not exceed 60% at the end of the preceding fiscal year.
Italy's debt is 133% and rising. (And Greece is at an eye watering 180% of GDP - a trifling three times the limit).

Debt inevitably rises sharply in a recession. Italian debt is already on an upward trajectory. Increasing the rate of debt growth just increases the already high probability that the Italian economy gets into deep smeg in the next recession.

As I've posted before, within the eurozone, trade is a zero sum game. If you increase your exports, some other country decreases their exports. Italy has been on the losing end of that equation for years - hence the steadily rising dislike for the EU.

As the euro is a half-finished product, there is only one way Italy can regain its lost competitiveness. Internal devaluation - forcing wages and prices down. (The solution forced on Greece by the EU). That would require Italy to cut both the numbers of and wages of public sector staff, cut public sector spending and so on. Less wages and people in work puts a downward pressure on wages and prices - and the Italian economy slowly becomes more competitive - but at a huge social cost.

Not unnaturally the Italian government in not keen on pushing people out of work for the greater good of the EU. So it's trying a different tack - expansionary spending to stimulate economic growth. Which of course pushes the country further into debt and increases the chance of an economic failure in the next recession.

Basically, the Italians have no good choices left, so they've opted to put Italian interests ahead of EU interests. Which has really pleased Brussels.

Wordsmith
 
This is what a MAIN Swiss / French border looks like. Within the Schengen area



Sent from my iPhone using Tapatalk
Read the replies ;-) He got his arse handed to him.
 

skid2

LE
Book Reviewer
It doesn't need to move them - it already allows for a 3% budget deficit. The problem is one of the other criteria.

Euro convergence criteria - Wikipedia


Italy's debt is 133% and rising. (And Greece is at an eye watering 180% of GDP - a trifling three times the limit).

Debt inevitably rises sharply in a recession. Italian debt is already on an upward trajectory. Increasing the rate of debt growth just increases the already high probability that the Italian economy gets into deep smeg in the next recession.

As I've posted before, within the eurozone, trade is a zero sum game. If you increase your exports, some other country decreases their exports. Italy has been on the losing end of that equation for years - hence the steadily rising dislike for the EU.

As the euro is a half-finished product, there is only one way Italy can regain its lost competitiveness. Internal devaluation - forcing wages and prices down. (The solution forced on Greece by the EU). That would require Italy to cut both the numbers of and wages of public sector staff, cut public sector spending and so on. Less wages and people in work puts a downward pressure on wages and prices - and the Italian economy slowly becomes more competitive - but at a huge social cost.

Not unnaturally the Italian government in not keen on pushing people out of work for the greater good of the EU. So it's trying a different tack - expansionary spending to stimulate economic growth. Which of course pushes the country further into debt and increases the chance of an economic failure in the next recession.

Basically, the Italians have no good choices left, so they've opted to put Italian interests ahead of EU interests. Which has really pleased Brussels.

Wordsmith
So basically Italy, despite your earlier and and often repeated assertions show no intention of leaving the Eu.. Or doing themselves further harm.
 
Freedom of movement.
ITV NW Tonight have got their knickers in a twist about rough sleepers dying 'in the current cold weather'? They are running a story about some rough sleeper getting a kicking in Blackpool. A despicable act IMHO.
Cuts to an interview with the victim, an Eastern European with little grasp of English.:confused:
And then of course you decided he deserved it.
edited .
Can you show us where he say that the victim deserves it?
 

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