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Germany warns Brexit would damage UK, European and global economies

Tuesday, March 8th 2016 - 08:24 UTC
Full article 17 comments

British vote to leave the European Union would damage the British, European and global economies, German Finance Minister Wolfgang Schäuble said in an interview with the BBC Read full article

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  • Skip

    Damage would be temporary.

    No one can predict the future.

    Mar 08th, 2016 - 09:14 am - Link - Report abuse 0
  • Idlehands

    I think the most important thing to remember about this referendum is a short summary that came from Boris:
    “there is no option to vote for a status-quo”

    The EU is a ship travelling in one direction only. Voters need to vote on whether they see the EU ship sailing towards a land of milk and honey or whether it's about to sail off the edge of the world. The problem is that the weather forecast is perpetual fog.

    My position at the moment is for Brexit - somebody needs to come up with a compelling argument to convince me to vote stay.

    NB The deal being struck with Turkey today is so stupid and conter-productive I think it may have a significant impact on the voting come June.

    Mar 08th, 2016 - 11:28 am - Link - Report abuse 0
  • Pete Bog

    The statements coming from the EU seem to be designed to persuade us to leave rather than to stay-there are no statements outlining how the UK will be better off in the EU, rather than how bad it will be to leave.

    If the EU was so good, they would be persuading us how the UK as a country could improve as a member of the EU rather than the impression given, that the EU don't want to lose a sugar daddy.

    Mar 08th, 2016 - 11:38 am - Link - Report abuse 0
  • Zool

    The EURO is a basket case, despite the bailouts & interventions it's just plodding along on life support while the Southern Nations build up an un-serviceable debt to GDP ratio. They are now twice as deeply in debt than when the Euro collapsed 6 years ago & sooner or later that debt will be called sending the Euro into oblivion. Germany & France will take the brunt of the storm & want to UK in the EU & joined up to the Euro before that happens spreading the fallout around. If the UK jumps ship before that happens then the Euro will collapse within a year & while the UK will still take a hit it will be on the edge of the storm not in the center. Time to leave those two with the mess they have created for themselves.

    Mar 08th, 2016 - 11:55 am - Link - Report abuse 0
  • ChrisR

    For someone like me who voted yes to the common MARKET, not to being milked dry for a bunch of 'ex' commie idiots, the past years have been a disaster and it is time to move on without the gravy train of crooks.

    BUT, you see, that gravy train is what nearly ALL UK politicians aspire to, just look at what Kinnockio and Glenys have managed to salt away.

    Vote LEAVE!

    Mar 08th, 2016 - 01:16 pm - Link - Report abuse 0
  • Schneckster

    I wish they'd make their mind up. It wasn't long ago that poor, insignificant little Britain wouldn't survive without the EU. Now, if the UK left the EU, it is apparently big enough to send the whole world into economic meltdown. Which is it then, guys? Are we too small to go it alone or too big to be allowed to leave?

    Our access to the single market costs us £12.5bn (net approximately without additional contributions, fees and fines) and bleeding of sovereignty to the EU. For theat, we run approximately £50bn in trade deficit - we buy more than we sell to the EU. The EU is the only area where the UK has a deficit.

    A recent study shows that at max World Trade Organisation allowed tariffs, UK exports would be subject to approx £7.5bn, a nominal saving of £5bn a year. But, our trade deficit means EU imports to the UK would also have to pay tariffs thereby reducing that £7,5bn.

    China has access to the single market on this basis without any trade deal, EU law, or free movement. Given the UK is the biggest trading partner for most of the EU, does Schauble really expect us to believe they wouldn't do a deal with the UK? BMW would be the first to knock on the German Chancellor's door as soon as tariffs are imposed on their cars demanding something is done to reduce or remove them.

    As with everything about the remain side of this, it's a fear mongering story designed to scare the unthinking into voting the way these people want. A little thought shows it to be ridiculous rubbish that does not hold up to scrutiny.

    And in case you hadn't guessed, I'm voting out. So far I haven't seen a single argument, let alone a positive one, for staying in an undemocratic, economically illiterate union that no-one asked us if we wanted to join.

    Mar 08th, 2016 - 01:24 pm - Link - Report abuse 0
  • zathras

    All you guys 1-6 are correct.

    What gets me is coming from the EU are just treats of what will happen, allegedly should we leave...all stick.
    No carrot of the good things the EU does for the UK.
    Other countries have favoured trading status so that is definitely an option. Like for instance Iceland.
    The problem is we wish to be in a trading block, while others in the EU want a political superstate.
    Personally should we stay in, and I am undecided, I wish the Uk political parties would guarantee that all future EU treaties including the were put to a binding referendum.

    Mar 08th, 2016 - 02:55 pm - Link - Report abuse 0
  • brasherboot

    It would damage the EU economy as it depends on £55m per day of free money.

    Best we spend it on building up the military in the Falklands ready to invade Argentina

    Mar 08th, 2016 - 04:03 pm - Link - Report abuse 0
  • Marti Llazo

    No need to invade Argentistan. It's about to implode on its own.

    Mar 08th, 2016 - 05:00 pm - Link - Report abuse 0
  • LEPRecon

    Well the EU should've thought of that. The UK wanted true democratic reform in the EU, where the people have the say, not a bunch of unelected officials. But the EU didn't even make any attempts to change, to counter the corruption and unnecessary (and very expensive) red tape that defines the EU.

    So what if the economies are damaged? Remember 2008 when the whole global economies 'wobbled'. Did it mean that there was any less food in the world? Or medicine?

    No. There are always recessions. It happens, yet somehow the world manages to carry on.

    The EU (read Germany and France) wants to keep the status quo. Well that's not going to happen, not any more.

    And the more 'scare' tactics you try the more likely it is that the UK will exit, because lets face it, the EU is far more concerned and scared about the UK leaving than the UK is.

    Mar 08th, 2016 - 05:16 pm - Link - Report abuse 0
  • Lucifer

    Bureaucrats are merely trying to save their jobs, less money less jobs, in theory.
    If a bureaucrat isn't making regulations what are they good for?

    UK doesn't need an Uber Gov't making laws and regulations that strangle it.

    Get out before its too late.

    Mar 08th, 2016 - 05:23 pm - Link - Report abuse 0
  • Britworker

    It's a very simple matter, we either stay as we are and accept that we will be from now on a region of a superstate and submit our sovereignty to central governance and control, or we leave and make our own decisions and choices and forge our own future in the world.

    It's one or the other. For me it's time to leave, but we do so knowing we cannot have our cake and eat it.

    Mar 08th, 2016 - 05:41 pm - Link - Report abuse 0
  • Briton

    Really,
    two options, which will be relatively true, if we go

    the experts say, withdraw,
    and earthquakes will shatter the northern Europe, the rest of the world will collapse, WW3 will happen, oh, and remember that asteroid that killed the dinosaurs', well, they have been hiding it, and apparently it will lift of , go around the moon and head back and destroy the earth,

    and Germany will CRY,

    option two,
    We go, things will be hard for a few years as the anti brits will make it hard for us to trade in euroland, but as its in their interest as well, we will trade,

    we will also arrange new trade deals with the rest of the world, India is growing and looking for trade,

    we can and will re-ignite our interest in the commonwealth , we will in time grow even more richer and powerful, as we will not be giving it to euroland,

    we will get our freedom back to make our own laws , control our own borders, and control our courts,

    more money to defend our country and our overseas territories, and our friends,

    more money to invest in our country, steel , ship building , plane making , railways and roads, health treatments, and those bloody pot holes,

    more cash for the elderly and disabled ,Schools and those that are very vulnerable,

    and so much more, im not saying that it will be a bed of roses,
    but I will say this,
    as my mother used to say [and probably yours]

    you made your bed, now lay on it.
    but what ever happens, be leaving, the future will be a British decision ,
    British rules , laws and our way of life,

    good or bad, it will be OUR decision,
    and not a foreign unelected EU decision.
    we are the 5th riches , the 5th powerful, and a great country,

    don't throw it all away to a bunch of corrupted incompetent twats

    be proud of Britain, our country, our future , our life,

    Vote leave,

    just my honest opinion.

    Mar 08th, 2016 - 08:33 pm - Link - Report abuse 0
  • Think

    Geeeeeeeeeeeee......

    A quick poll on the Anglo Turnips in here says...: 100% win for Brexit...

    I soooo wish they were right..............................but...

    What do the REAL experts predict...?

    http://sports.ladbrokes.com/sports-central/uk-eu-referendum/

    Chuckle chuckle...

    Mar 08th, 2016 - 08:52 pm - Link - Report abuse 0
  • ilsen

    Is there no middle ground here?
    UK threatens to leave, (something they have not fully signed-up to anyway), in order to get the best deal from the rest of the 'others'?
    To me, it seems that the UK has not changed one bit.
    UK is pulling strings, the 'poupée russe', well, let's see how they do with out the Brits, it's not 1944 anymore...

    Mar 09th, 2016 - 12:41 am - Link - Report abuse 0
  • L0B0MAU

    A lot of benefits & strength can be found in the unity; provided the countries which are proven to be the liabilities are either forced to get out or serious attempts are made to convert them into assets for the EU, on a long-term basis.

    Mar 09th, 2016 - 10:09 am - Link - Report abuse 0
  • Briton

    considering their are in fact 3 views,
    the out view
    the in view
    and the European governments view

    who wants what ?
    the out want freedom for Britain,
    the in wants none influence but better in.

    the European government wants,
    1, united states of Europe
    2, European army , navy and air force,
    everything to be centralised and controlled by Europe,
    a European border patrol/coast guard, with powers in intervene in and over national boundaries,

    no more budgets, unless approved by Europe, and no national banks
    loyalty to a European flag,
    and rest of these European gooney ideal,

    just who do you believe, [ in ] [ out ] [ Europe ]
    your vote, your choice.

    Mar 09th, 2016 - 01:39 pm - Link - Report abuse 0

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