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john batchelor brexit go stay mp3

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John Batchelor Podcast May 3, 2016 BREXIT Go or Stay? @larry_kudlow @stephenmoore. Michael Boskin, @hooverinst. “The UK is deeply connected by trade to the rest of the EU, which accounts for the largest share of Britain’s total global exports and imports, each amounting to about 30% of British GDP. Brexit would therefore have significant consequences for trade flows not just between the UK and the EU, but also in the rest of the world. What those consequences would be depends upon the terms and timing of new trade agreements. “When the EU’s predecessor, the European Economic Community, was created in 1957, it linked just six countries (Belgium, France, Germany, Italy, Luxembourg, and the Netherlands). Given high tariffs at the time, the EEC brought substantial gains. Today, the EU has 28 members and is the world’s largest market, but tariffs generally are much lower. “The truth is that it is impossible at this point to know how post-Brexit UK-EU trade relations would shake out. After all, there is no real precedent – Greenland’s departure from the EEC can hardly be considered a comparable situation – and negotiating the details of the withdrawal alone could take up to two years. During that time, the pound would be more volatile, trade flows may be diverted or delayed, and some investment in British trade-related industries would be put on hold….” The John Batchelor Show BREXIT Go or Stay? @larry_kudlow @stephenmoore. Michael Boskin, @hooverinsthttp://johnbatchelorshow.com/

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