How long would it take to complete deals within WTO
- Thread starter Notch7
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I heard a chap on the radio (an expert on trade), he said in the order of 20 years.
Oh dear
Fake Radio. Fess Up what song were you listenning to?
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Here are some golden quotes from the time were were told not joining the Euro would be a disaster (hindsight is great):
"The head of one of the world's biggest car companies reignited the debate over the single currency yesterday with a warning for the government that its £1.5bn investment in the UK would be at risk if Britain stayed out of the euro." - Toyota, January 2000
"Nissan, the Japanese carmaker, said yesterday that further investment in the UK depends on whether Britain joins the euro." Carlos Ghosn, Cheif Executive of Nissan, 2002
"With Greece now trading in euros, few will mourn the death of the drachma" Financial Times, 2001
"...the euro will create a single market of transparent prices, reduced exchange rate risk and a pan-European capital market. Each of these will give a stimulus to competition and productivity growth across Europe." Adair Turner (former head of CBI), 2001
"Even if it [taking Britain into the euro] is unpopular, I will recommend it if it is the right thing to do." Tony Blair, June 2001
"...by keeping the pound, the UK misses out on much of the trade creation now occurring within its principal trading partner, the euro-zone." Members of Imperial College, Harvard University and London School of Economics, 2002
"The most important function of monetary policy is to provide stability..." Nick Clegg (in support of the Euro, not long before the Euro crisis occured)
"it is difficult to see how the UK can afford to remain outside the Euro economically. At present the public opinion in the UK is against joining the Euro, and for keeping the pound... Almost all change is resisted for various reasons, mainly psychological. Fear of the unknown, laziness in trying to avoid the extra the adaptation will require." Some bizarre reasons given to ditch the pound by a body promoting the Euro in the early 2000s.
"Britain will join the Euro, and we will start moving towards it during 2002. It is only a question of time how long we can afford to remain out of it. Sweden and Denmark also can hardly afford to remain apart from the Euro for more than a few years." Same group in the same year during the Euro hype.
Single currencies have never worked, throughout history...
"The head of one of the world's biggest car companies reignited the debate over the single currency yesterday with a warning for the government that its £1.5bn investment in the UK would be at risk if Britain stayed out of the euro." - Toyota, January 2000
"Nissan, the Japanese carmaker, said yesterday that further investment in the UK depends on whether Britain joins the euro." Carlos Ghosn, Cheif Executive of Nissan, 2002
"With Greece now trading in euros, few will mourn the death of the drachma" Financial Times, 2001
"...the euro will create a single market of transparent prices, reduced exchange rate risk and a pan-European capital market. Each of these will give a stimulus to competition and productivity growth across Europe." Adair Turner (former head of CBI), 2001
"Even if it [taking Britain into the euro] is unpopular, I will recommend it if it is the right thing to do." Tony Blair, June 2001
"...by keeping the pound, the UK misses out on much of the trade creation now occurring within its principal trading partner, the euro-zone." Members of Imperial College, Harvard University and London School of Economics, 2002
"The most important function of monetary policy is to provide stability..." Nick Clegg (in support of the Euro, not long before the Euro crisis occured)
"it is difficult to see how the UK can afford to remain outside the Euro economically. At present the public opinion in the UK is against joining the Euro, and for keeping the pound... Almost all change is resisted for various reasons, mainly psychological. Fear of the unknown, laziness in trying to avoid the extra the adaptation will require." Some bizarre reasons given to ditch the pound by a body promoting the Euro in the early 2000s.
"Britain will join the Euro, and we will start moving towards it during 2002. It is only a question of time how long we can afford to remain out of it. Sweden and Denmark also can hardly afford to remain apart from the Euro for more than a few years." Same group in the same year during the Euro hype.
Single currencies have never worked, throughout history...
Fake Radio. Fess Up what song were you listenning to?
Kiss fm is not fake -its the height of sophistication
Actually the chap talking was Chris Southworth, Secretary General of the International Chamber of Commerce.
https://www.lbc.co.uk/radio/presenters/james-obrien/expert-wto-rules-uk-on-its-own/
I can't see that you have named any experts in economics or currencies.
Don't you know any?
Who are the people that forecast "a massive recession?"
Feel free to provide links to original quotes from the time (not copy-and-paste from your favourite anti-Europe propaganda sie)
Don't you know any?
Who are the people that forecast "a massive recession?"
Feel free to provide links to original quotes from the time (not copy-and-paste from your favourite anti-Europe propaganda sie)
So not joining the Euro was not a disaster. Leaving the EU and trading on WTO absolutely is a disaster. Please dont conflate the 2 to justify a Brexit position
There are no experts that suggest it would be anything but a disaster
Mr Southworth explained that to get to the level we are currently at, the UK will have to negotiate trade deals with 120 countries: "No one has ever done that, certainly not at the scale and pace we are proposing to do it. And the average time to negotiate a trade deal is 5-7 years.
"Nobody trades on WTO rules.
"Everybody ultimately trades with their neighbours first and the WTO rules are there as a backstop, a safety net. But in reality, every other country has much more sophisticated trade relationships.
"If the UK crash out of the EU, we really will drop down to that safety net and that is unheard of for a G20 country, let alone a G7 country."
Joining the Euro probably would have been a disaster, the Euro is thought to be a failure by many experts.
However that doesnt give a reason for the UK to leave one of the 3 biggest worldwide trading blocks.
I personally would rather not have the benefit of hindsight to find out it was a disaster joining WTO.
I am no fan of the EU but Im much less a fan of leaving a powerful club where the UK has got itself into a really strong position, a place where the UK has been involved in a fair bit of the development and moving to the WTO as a new boy in a worse club.
just to help you, here are some examples of original quotes, with their sources from the time. Campaigners were saying how great it would be. You will search in vain for these people telling you to vote for no-deal.
“I think we can strike a deal as the Canadians have done based on trade and getting rid of tariffs. It’s a very, very bright future I see,” he said.
“What I think we should do is strike a new free trade deal along the lines of what Canada has just achieved. They have taken out the vast majority of the tariffs and have virtually unencumbered trade. We want a relationship based on trade and cooperation."
Boris Johnson, 2016
https://www.theguardian.com/politics/2016/mar/11/boris-johnson-on-brexit-we-can-be-like-canada
"In its pamphlet, The Truth About Trade Beyond The EU, UKIP argues that Britain does not need to be in the EU to have access to the single market and to export successfully.
It also argues that the UK would not be isolated if it left and could negotiate a free trade agreement with the EU without signing up to "free movement" rules."
June 2015
https://www.bbc.co.uk/news/uk-politics-33163907
"The future of British politics is a choice, made either at an early election or, less likely, another referendum, between emulating Norway (which pays to get most of the single market and accepts a liberal immigration regime) or Canada (which has a limited bespoke EU trade deal and its own immigration rules)."
Daily Telegraph
June 2016
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Just to echo Notch& who seems to be on a tear lately with his posts (you changed Wines ) it was correct not to join the Euro but incorrect to leave the EU. We had a special relationship with the EU, we kept our currency and we had our rebates. That's a special relationship not the one we have with the US, we are more akin to their Butler.
) it was correct not to join the Euro but incorrect to leave the EU. We had a special relationship with the EU, we kept our currency and we had our rebates. That's a special relationship not the one we have with the US, we are more akin to their Butler.
S
sodthisforfun
Going by how long they are (not) negotiating brexit, I'd say that was a underguestimate!I heard a chap on the radio (an expert on trade), he said in the order of 20 years.
Oh dear
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One more thing to add FTA are not as comprehensive as being in a single market, a FTA is sector specific.
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