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Monday, 20 June 2016


Aangirfan: BREXIT - HALLIGAN, EVANS PRITCHARD: LIAM HALLIGAN in The Telegraph writes that the case for Brexit remains strong According to Liam Halligan: 

1. The UK's £60bn trade deficit with the EU means powerful German auto producers, French wineries and Italian furniture-makers will make sure that Britain continues to trade with the EU.
2. In 1980, the EU accounted for over 30% of global GDP. 

Now, despite many more member states, the EU accounts for over 30%  of global GDP.

3. Brexit makes sense because 'Europe' isn't working. 

The EU today is slow-growing and tied up in red tape. 

The euro, which 'most economists' told us to join, is doing untold damage. 

Locked in a high-currency straitjacket, Greece and Spain are suffering 40-50% youth unemployment

Italy, having barely grown since the euro's 1999 launch, faces a major banking crisis. 

Unable to depreciate their currencies, such economies are being sacrificed on the altar of 'more Europe'.

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