Courtesy of Mish
The EU values political correctness more than jobs.
The result was a collapse in support for Angela Merkel, and the rise of AfD and FDP in Germany. Let’s not forget Marine Le Pen in France, Beppe Grillo in Italy, and the far right in Austria.
For the sake of political correctness, the EU is bound and determined to punish the UK for Brexit even though new studies suggest that a Hard Brexit Will hurt the EU More Than Britain.
The European Union will lose more than twice as many jobs as Britain after a hard Brexit, research by one of the world’s leading universities found as tough UK-EU divorce talks begin in Brussels.
Hard Brexit describes what will happen if the UK and EU fail to reach a divorce deal by 29 March 2019. Britain would revert to WTO tariffs on imports and exports to and from the EU rather than the zero tariffs afforded by membership of the bloc.
The return of tariffs to goods and services would cost 526,830 British jobs and 1.209 million jobs in the remaining 27 EU member states, according to researchers at Belgium’s University of Leuven, one of the top 50 global universities. The damage would lead to a 4.48% drop in UK GDP and 1.54% in EU GDP, researchers found.
Free Trade Benefits
As I have pointed out previously, a free trade agreement can fit on a napkin. Her is my proposal once again: “Effective immediately all subsidies and tariffs cease regardless of what any other nation does.”
The first nation that adopts that policy will see an enormous economic benefit.
Very few people fully understand free trade. Even fewer politicians understand free trade. One of the few who does understand is British MP Daniel J Hannon.
In a Telegraph Op-Ed Hannan writes By embracing free trade, we can use Brexit to make everyone better off.
