Most UK trade is with non Eurozone countries..

Discussion in 'Current Affairs, News and Analysis' started by Yokel, Dec 10, 2011.

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  1. Often we hear that 40% of our trade is within the Eurozone - the obvious implications are that 60% is outside the Eurozone, and that since the Eurozone nations are our neighbours, they will need to trade with us regardless of politics.

    So why all this doom and gloom about not following the rest?
  2. The govt wants us to be gloomy, downtrodden and for us to think things are worse than they are. They can cut our pay, pensions, increase taxes. The year before the election they'll rescue us and give us small income tax breaks.
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  3. Cynical!

    However, I was specifically talking about the doom and gloom from Europhiles, who insist that if we do not follow the leaders in Paris and Berlin like sheep then we will have no influence, the economy will fail, and the sky will fall in.

    Also the Eurozone economies are contracting faster than elsewhere, so perhaps we should worry less about selling goods and services to them and more about competing globally? This is one of my pet issues to be honest.
  4. A fair comment would be that if we withdrew from the EU, and got shut of all their stupid regulations, our competitiveness with the rest of the planet would be further enhanced.

    Lets get out of this Franco-German fuckfest. It's all going to end in tears. Those tears will be French, mostly.
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  5. Don't forget Rotterdam and Antwerp Effect so the real % is significantly smaller than 40% and most of our EU trade is covered by WTO agreements so they can't block or boycott it anyways.

  6. It's a funny thing but in some ways it's easier to export abroad than it is to export within the EEC.

    Within the EEC you don't charge VAT but you cannot zero rate your VAT. What you do is swap VAT registrations and render quarterly VAT EC Sales Lists to HMRC. If the person you are exporting to doesn't have a VAT registration then you have to charge them the UK VAT and account for it.

    When I export to the Gulf I just need a Certificate of Origin (which has to be 'legalised' by the embassy concerned) Invoice and the shipping notes. Exports are zero rated so I don't need to bother with VAT but can still reclaim my VAT expenditure.

    I used to be quite pro the EU but I'm not so sure these days. I still like the idea that we should build closer ties with our neighbours and have open borders across Europe but more and more the EU seems to be being shaped to meet the needs of Germany and France and the integrity of the whole institution is being sacrificed in order to maintain the Eurozone. The Eurozone was formed knowing that many of the 'Southern' economies were fudging their figures and had inherent weaknesses that would cause major problems down the line, that has now happened. There was never any way that Greece should have been allowed to join the Euro but they were admitted to achieve a political aim.

    That's half the problem with the EU reforms are being rushed through without giving time for the various Nations and their economies to align themselves and merge on an equal footing. As it is Germany and France are having to pay the piper for allowing the fudging to happen in the first place. Fine as far as that goes but they are also trying to cede a lot of the financial services away from this country and towards Paris and Frankfurt, not for the good of Europe but for their own gain. They do this is the guise of needing tighter banking controls yet Italy had far tighter control of its banks than we did of ours and yet they are in the deep poo whereas we are just about keeping our heads above the water.

    I'm not totally convinced that we need to leave the EU but feel we should exert ourselves in making sure that the EU doesn't become a Franco-Germanic plaything. One thing is for certain though, I fear leaving a lot less than I used to.
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  7. Heresy. If it goes via the largest port in Europe it must be trade with Europe. WTO agreements? Pfft, the Common Market (remember that?) is more important.
  8. I can't see the problem regardless - we're part of the EU, whatever project the "17 plus" create on the side, they cannot restrict trade with the UK as that would be against the EU competition and free trade laws that they are charter bound to respect.

    This could be fantastic for the UK, we sit on the sidelines watching them drag each other into the void with ever higher taxes and regulation, and laugh!
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  9. Pretty much my opinion.
  10. I've never really understood why the level of trade with the EU is brought up in the pro-EU/anti-EU discussion. It's a totally moot point. UK is in a free trade zone. Just because we don't sign up to the latest diktat from Brussels doesn't mean that we will lose our ability to trade in that free trade area. The UK is entwined with the EU regarding trade.

    I've worked in aerospace all my life and all the UK companies I've worked for have some form of partnership between the UK and other countries whether that be a trans-european company like Airbus or Astrium or a partnership between companies based in different countries.

    Eg - Airbus UK make wings for the A380 - that isn't going to stop just because we are not in the Euro or only in the EFTA or outside altogether.

    Eg - Rolls Royce has partners such as MTU (Germany), Fiat Avio (Italy) and ITP (Spain) as part of the Eurojet consortium to produce EJ200 to power eurofighter typhoon. Is that consortium going to collapse if we were out of the EU? Of course not.

    I'm sure there are hundreds of such arrangements.

    And even if we did leave the the EU altogether it doesn't mean that we would stop trading with one another.

    On another note, we are net contributors to EU coffers so it's not within Brussel's interest at this moment to see us leave. They will have to ask other countries to cough up more funds.

    We could always join NAFTA. ;)
  11. You may well jest.....
  12. Please refrain for pissing your rather arkward truths into the Europhiles wheaties. ;P
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  13. We could be even smarter, and get the US back into the Commonwealth.
  14. After CMD dropped his bombshell upon the European cousins - and after having seen the clip of the Miniature man snubbing Dave as they brushed past each other, the most notable comment that I have heard about the entire debacle was that the Germans and French have managed to convince the other Euroclub nations that the earth, is in fact, flat. A comment obviously aimed at the fact that they are so blinkered by the, doomed from the beginning project, that they will believe anything so as to keep the charade going for as long as possible.
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  15. Or even NAMBLA. Just for shits and giggles. Err, literally.
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