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IMF: Brexit could cause severe damage.

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    [Deleted User][Deleted User] Posts: 0
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    A nice move would be for Britain to leave the UK sooner rather than later. It's the domino effect... once Britain leaves, other countries follow before the EU and euro implode. The world economy is on it's knees and now the time is right for the system to crash. Only when the current system goes down can a new system begin.

    Yes, lots of pain ahead for everyone, but everyone I've spoken with knows that what's coming is coming regardless. Not long to go now.
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    Andrew1954Andrew1954 Posts: 5,448
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    nethwen wrote: »
    On the one hand, the UK is too small and puny to manage its own affairs, and holds little influence in the world; but on the other hand, leaving the EU would cause the world economy to collapse.

    Couldn't make it up.:D
    Until the vote I expect to see at least one prominent organisation or individual come out each week claiming leaving will be a disaster. Wouldn't be surprised if they've all been organised to do so.

    The meteorological office is coming out next week to claim that the sky will fall in if we leave the EU. True! Fact!
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    mooxmoox Posts: 18,880
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    Andrew1954 wrote: »
    Until the vote I expect to see at least one prominent organisation or individual come out each week claiming leaving will be a disaster. Wouldn't be surprised if they've all been organised to do so.

    The meteorological office is coming out next week to claim that the sky will fall in if we leave the EU. True! Fact!

    The opposite is also true. Organisations are also lining up to say that leaving would be the best thing ever for the UK. In practice, no one has a clue what they're talking about, and most of them are relying on their own opinions

    Who is to say that the Met Office won't come out and say that "leaving the EU will bring eternal clear skies and sunshine to the UK"? :)
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    Doghouse RileyDoghouse Riley Posts: 32,491
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    moox wrote: »
    The opposite is also true. Organisations are also lining up to say that leaving would be the best thing ever for the UK. In practice, no one has a clue what they're talking about, and most of them are relying on their own opinions

    Who is to say that the Met Office won't come out and say that "leaving the EU will bring eternal clear skies and sunshine to the UK"? :)

    If they receive any funding from the EU, they'll be saying the weather will worsen if we leave.
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    allaortaallaorta Posts: 19,050
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    Andrew1954 wrote: »
    Until the vote I expect to see at least one prominent organisation or individual come out each week claiming leaving will be a disaster. Wouldn't be surprised if they've all been organised to do so.

    The meteorological office is coming out next week to claim that the sky will fall in if we leave the EU. True! Fact!

    That may have happened today with the IMF in an effort to drag the polls back at least to levels. I can't believe the Bremainers aren't going to make even more mistakes with their electioneering.
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    solenoidsolenoid Posts: 15,495
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    The author of that IMF paper is an EU stooge. He has written extensively about the EU in a number of reports (he is an academic).

    Some gems from his include:

    http://ec.europa.eu/economy_finance/publications/economic_paper/2013/pdf/ecp493_en.pdf
    The euro area is moving quickly to correct one flaw in the Maastricht treaty, the vesting of all financial supervisory functions with national authorities.
    However, the sheer size of bank balance sheets suggest that the euro area must also confront a financial/fiscal trilemma: countries in the euro zone can no longer enjoy all three of financial integration with other member states, financial stability, and fiscal independence, because the costs of banking rescues may now go beyond national fiscal capacities. Thus, plans to reform the euro zone architecture must combine centralized supervision with some centralized fiscal backstop to finance deposit insurance and bank resolution.

    The EU imposed the euro on a linked system of national economies with well-known structural rigidities in labor and product markets. Within each country, powerful national vested interests protected existing distortions.

    Banking union must repair the discipline deficit that allowed unrestrained borrowing and lending to set the stage for the current crisis….if it is to succeed, banking union requires some pooling of national fiscal resources. Likewise, collective EMU support of sovereign borrowers also justifies stricter centralized fiscal oversight, as a matter of political necessity as well as incentive compatibility.

    He is a pro EU federalist.
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    allaortaallaorta Posts: 19,050
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    moox wrote: »
    The opposite is also true. Organisations are also lining up to say that leaving would be the best thing ever for the UK. In practice, no one has a clue what they're talking about, and most of them are relying on their own opinions

    Who is to say that the Met Office won't come out and say that "leaving the EU will bring eternal clear skies and sunshine to the UK"? :)

    We'll know, just like now, that it'll be bullshine.
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    SaturnVSaturnV Posts: 11,519
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    The IMF warned that we'd be worse off not joining the Euro.

    Yeh right.
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    HildaonplutoHildaonpluto Posts: 37,697
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    alan29 wrote: »
    Project something or other/kneejerk.

    Project telling you something you don't want to hear perhaps....
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    MajlisMajlis Posts: 31,362
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    Staunchy wrote: »
    "Global" the use of that word made me raise an eyebrow?

    Who could have thought a small country could have that much of an affect all on its own...

    yes, that the part that make me look twice. We have been told for months by EU enthusiasts that the UK would fail economically outside the EU as it is too small and irrelevant - now apparently it is large enough to cause a worldwide economic crisis.

    Wish they would get their story straight.
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    Andrew1954Andrew1954 Posts: 5,448
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    allaorta wrote: »
    That may have happened today with the IMF in an effort to drag the polls back at least to levels. I can't believe the Bremainers aren't going to make even more mistakes with their electioneering.
    Do you think so? I suggest that they're doing the right thing .... from their point of view. They've only got to win. It doesn't matter how they do it.
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    allaortaallaorta Posts: 19,050
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    Andrew1954 wrote: »
    Do you think so? I suggest that they're doing the right thing .... from their point of view. They've only got to win. It doesn't matter how they do it.

    I still think they're making mistakes in their judgement of the British electorate. The Cameron/EU negotiations resulted in a facile win for the EU, the government booklet, possibly the Vote Out given the money as the primary campaign; there will be more.
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    AlbacomAlbacom Posts: 34,578
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    Project telling you something you don't want to hear perhaps....

    For Brexiters, it is the long term benefits of being self governing and free from EU beurocracy that has more appeal than short term problems. Whatever happens we will face recession again in the future. People will lose their jobs in the future and prices will rise. If we stopped doing things because there might be a short term blip, we would never leave our houses. There could be economic and trading setbacks yes. But there probably won't be as it's in everyone's interests to ensure there won't be.
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    Andrew1954Andrew1954 Posts: 5,448
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    allaorta wrote: »
    I still think they're making mistakes in their judgement of the British electorate. The Cameron/EU negotiations resulted in a facile win for the EU, the government booklet, possibly the Vote Out given the money as the primary campaign; there will be more.
    Well, I suppose it's better to travel hopefully .....
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    Andrew1954Andrew1954 Posts: 5,448
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    One of the aspects of these IMF comments is that they play absolutely to the Government's agenda which is to make this vote appear to be primary about economics. They want to distract the electorate's attention from all that messy stuff about sovereignty, democracy and most important the inevitable direction of travel of the EU towards ever greater integration of all EU states. They're being dishonest in exactly The same way they were in the referendum of 1975. Make the issue about economics. Reassure people that they will be better off (economically) if we stay and worry them that they will be worse off (economically) if we leave. They don't even have to be too specific. Casting sufficient doubt is all they need to do.
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