The 2007-9 financial crisis and the subsequent Eurozone debt crisis posed an existential threat to the single currency and even the European project as a whole. Financial imbalances that had built up in the decade were at the heart of both crises.
Many people, including politicians and journalists, don’t understand the difference between ‘free trade’ and ‘frictionless trade’. This has caused a huge misunderstanding across the country, leading to the mess we are now in. In summary, ‘free trade’ means that goods (sometimes only some goods) can be exported and imported between countries without tariffs – hence […]
Arron Banks, the insurance tycoon and Brexit campaigner who bankrolled both UKIP and Leave.eu, has launched a vitriolic campaign to deselect Remain-supporting Tory MPs who represent ‘Leave’ constituencies. Mr Banks, whose application to join the Conservatives was rejected, said the aim and slogan of his campaign, called ‘The Blue Wave UK’, is to: ‘Make the Conservatives […]
The EU and Japan have just signed an unprecedented free trade agreement which will create one of the world’s largest trading blocs. The EU-Japan Economic Partnership Agreement (EPA) is the largest trade deal ever negotiated by the EU. It will create a trade zone covering 600 million people and nearly a third of global GDP. It […]
More of Britain’s exports and imports go to and come from the EU Single Market than any other area in the world. It’s our most important, most lucrative, most vital international market for transacting business, upon which our country’s wealth depends. Nearly half of our exports go to the EU Single Market, and just over […]
Today in Parliament, Prime Minister Theresa May said: “We are committed to delivering on our commitment to having no hard border between Northern Ireland and Ireland, and that we have as frictionless trade as possible with the European Union.” She added: “There are a number of ways that can be delivered.” The best way […]
One year ago, on 27 March 2017, Labour said it would hold the Tories to their pledge to keep the exact same benefits of the EU Single Market after Brexit. Of course, that can’t happen unless the UK is in the Single Market, accepting its rules including Free Movement of People. This was my commentary […]
Sometimes someone says something that will be remembered forever and quoted in history books as the phrase that summed it all up. That moment came when Britain’s former international trade chief compared Brexit to giving up a three-course meal for a packet of crisps. Sir Martin Donnelly, until last year the top civil servant in […]
Today’s big news is that Northern Ireland could get a special relationship with the EU to enable no-border with Ireland. It’s being called “regulatory alignment” between Northern Ireland and the EU. Nobody is yet sure what that means. But in any other name, it might be called staying in the EU Single Market. Or in […]
Business minister, Anna Soubry, the most enthusiastic pro-EU member of the government’s cabinet, has sent a letter to UKIP leader, Nigel Farage, with three vital questions. She posed the questions after Mr Farage made clear that he didn’t want Britain to remain in the Single Market of Europe if the referendum resulted in a ‘leave’ […]
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