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Head of the German automobile industry association warns UK agains Hard Brexit. |
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#1 |
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Head of the German automobile industry association warns UK agains Hard Brexit.
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Hard Brexit will be 'mission impossible' for UK and EU due to 'severe side effects' on both, warns German car chief Matthias Wissmann highlighted the ’deep reciprocal dependency’ of the two countries’ automotive industries A hard Brexit preferred by Theresa May will be a “mission impossible” as the EU and the UK would face “massive negative effects” if Britain leaves the single market, the head of the German automobile industry association has warned. In October, Matthias Wissmann warned that the UK leaving the single market could force companies to move their business elsewhere. His comments marked the first time a senior figure in the German car industry publicly outlined the consequences from a change to Britain’s trading arrangements with the EU. British car production has boomed over the last five years, growing by a quarter to 1.6 million vehicles in 2015, with German brands accounting for 11 per cent of that figure. Some 57 per cent of the cars made in Britain are purchased by buyers in the rest of the EU. The next largest market is the US (12 per cent), followed by China (7 per cent). Mr Wissmann said the EU should force Britain to pay into the Brussels budget and accept the resulting rules, including the free movement of people, which has been ruled out by Theresa May. “The hard Brexit preferred by Theresa May would have severe side effects,” he said. The people of Sunderland would be hit hard by tariffs and non-tariffs on 57 percent of their exports. No wonder a recent poll carried by a local newspaper there shows massive swings towards Remaining in the EU. They no longer appear to believe that massive taxpayer subsidies are for ever ! |
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#2 |
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This Wissman chap is preaching to the wrong people, the only way to avoid a hard brexit is for the EU to do a trade deal.
We have had a referendum, our choice has been made, we are leaving the EU and Its crazy rules on FOM. |
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#3 |
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Quote:
This Wissman chap is preaching to the wrong people, the only way to avoid a hard brexit is for the EU to do a trade deal.
We have had a referendum, our choice has been made, we are leaving the EU and Its crazy rules on FOM. |
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#4 |
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I think he's saying a trade deal isn't enough, leaving the single market is what would be damaging.
It's theoretically possible (but highely unlikely) to have all aspects of the single market apart from FOM. |
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#5 |
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Quote:
I think he's saying a trade deal isn't enough, leaving the single market is what would be damaging.
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#6 |
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Since it is the EU and not the UK who will dictate the terms he really should be talking to them.
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#7 |
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Perhaps the German people, if not their politicians, will follow the UK out of the EU then
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#8 |
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Since it is the EU and not the UK who will dictate the terms he really should be talking to them.
The hope then is that the Brexit will be as soft as possible and a mere fig-leaf - eg benefits restrictions on new EU arrivals (which could have been applied legally before but anyway). A large proportion of our non-financial services-related GDP is made up by the car industry. |
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#9 |
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Quote:
This Wissman chap is preaching to the wrong people, the only way to avoid a hard brexit is for the EU to do a trade deal.
We have had a referendum, our choice has been made, we are leaving the EU and Its crazy rules on FOM. Happy New Year. |
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#10 |
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Why, when they've seen what damage it's doing to the UK.
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#11 |
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Looks like the German automotive industry has realised they're about to lose a lot of money. All the talk from some swivel eyed remainers about still buying their audis, bmws and vws, isn't ho to save them.
If the EU are so scared of the fallout from us leaving, then perhaps it's time they put in place a plan to keep trade and services flowing. |
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#12 |
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Quote:
If the EU are so scared of the fallout from us leaving, then perhaps it's time they put in place a plan to keep trade and services flowing.
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#13 |
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Looks like the German automotive industry has realised they're about to lose a lot of money. All the talk from some swivel eyed remainers about still buying their audis, bmws and vws, isn't ho to save them.
If the EU are so scared of the fallout from us leaving, then perhaps it's time they put in place a plan to keep trade and services flowing. As for a plan, ask May and the three stooges. They're the ones who are allegedly coming up with what "Brexit means Brexit" actually does mean. |
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#14 |
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You mean give actual consideration to a mutually-beneficial post-brexit trade deal? I'm sure I read in magnificently authoritative-sounding posts on here that this is a total impossibility because the EU would never agree to such a thing because the UK is lower than the dirt beneath their feet, or because some provincial authority wanted a special deal for their nutty donuts.
It's a reason I've tried posting threads that are more Neutral, ones that show GDP will still increase year on year or that we will still be able have financial passporting. I know there is a large proportion of Brexiteers who I would consider nutters but the remain camp has it's fair sized swivelled loons also. |
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#15 |
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Yet ano thread telling us stuff we've already heard.
The fact is the UK is leaving the EU and there is no reason why a mutually beneficial trade agreement can't be put in place and it would be more helpful if the likes of Wissmann called for that as opposed to saying the EU should make Britain do this, that or the other. |
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#16 |
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These people "advising" the UK people on what is best for them are selling something.
It's the same situation as before the referendum when those Remain people "advising" the UK electorate about what is best for them were also just thinking of themselves. It's like a PC World salesman "advising" you about the insurance deal he has before him... They are not being sincere. Why would some German guy want the best for the UK? |
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#17 |
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Quote:
http://www.independent.co.uk/news/bu...-a7501856.html
The people of Sunderland would be hit hard by tariffs and non-tariffs on 57 percent of their exports. No wonder a recent poll carried by a local newspaper there shows massive swings towards Remaining in the EU. They no longer appear to believe that massive taxpayer subsidies are for ever ! |
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#18 |
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Quote:
I think he's saying a trade deal isn't enough, leaving the single market is what would be damaging.
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#19 |
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What damage?
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#20 |
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BIB, We are leaving the "Single market", pointless eluding to the fact we're not.
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#21 |
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Pound down, inflation up, borrowing targets missed.
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#22 |
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Pound down, inflation up, borrowing targets missed.
Inflation is still below target. Some inflation is also good encourages spending and devalues existing debt. Osborne"s borrowing targets would have been missed anyway. The shift in government policy from austerity to stimulus is good. |
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#23 |
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and that is even before leaving !
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#24 |
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Pound down is good for UK competitiveness..
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#25 |
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Quote:
Pound down is good for UK competitiveness.
I'm still waiting for a precise source for the export figures you quoted on the other thread, I couldn't find them in the ONS release. Quote:
Inflation is still below target. Some inflation is also good encourages spending and devalues existing debt.
Some inflation is good, but a falling currency in a country with a high balance of payments deficit can result in more than just "some inflation"Quote:
Osborne"s borrowing targets would have been missed anyway. The shift in government policy from austerity to stimulus is good.
Well, the BoE was forced to start it with over 60bn of our money pumped into private companies to keep the economy going after the vote.The Govt seems to have rather lost control, perhaps senior Tories vetoing Osborne's emergency budget wasn't decided with the best interests of the economy in mind. |
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