07-10-2016, 11:39 PM
The "hard Brexiters" are those want to act quickly and be gone. They want to curb European migration as quickly as possible, using a points system. They don't much value being part of the single market, and point out that just about every nation in the world has "access" to it, without being a member. You can call this the "Canada lite" model if you like. "Soft Brexiters" want to take their time, and retain as close a relationship with the rest of the European Union as possible. They want access to the single market, and some sort of minor concession on free movement. Perhaps, they muse, the EU would give us an emergency brake and annual quotas on both sides. Their priority is to avoid trade tariffs and secure a good deal for services, particularly financial services. That's "Norway plus".
The new divide: Hard or soft Brexit? - BBC News
"A couple of colleagues and I were in Newcastle, in the North East, discussing the fact that the vast majority of economists agreed that Brexit would lead to an economic slowdown. "A 2% drop in the United Kingdom's GDP, I said, would dwarf any savings the country would make from curtailing its contribution to the EU budget. 'That's your bloody GDP,' came the shouted response, 'not ours'." Those who want a second referendum should reflect on where sidelining those sort of voices could lead.
The new divide: Hard or soft Brexit? - BBC News
With the real estate tremors echoing the last financial crisis, the mounting fear is failure to control the aftershocks from the Brexit vote will propel the economy into recession. “I am expecting quite a sharp reduction in investment spending, a sharp hit to the commercial property market, probably a check to consumer spending, all of which could push us towards zero or below growth,” John Gieve, a former deputy governor of the Bank of England and veteran of the last crisis, told Bloomberg Television. Reacting to a rush by investors to redeem their money, M&G Investments and Aviva Investors followed Standard Life Investments in suspending trading in commercial-property funds that together total 9.1 billion pounds ($11.9 billion dollars). Industry analysts have warned that London office values could fall by as much as 20 percent within three years of the U.K. leaving the EU.
Brexit Erodes U.K. Economic Pillars as Property Investors Flee - Bloomberg
He begged the E.U. to make a tariff-free trade deal with the U.K., and promised that the British “will be your best friends in the world.” Farage was articulating the fundamental dilemma of Brexit. In 2015, forty-four per cent of the U.K.’s exports went to E.U. countries, and fifty-three per cent of its imports came from them. Although London is famous as a global financial center, it enjoys that status largely because it’s a gateway to the Continent.