Sunday, February 12, 2017
Prime Minister's Theresa May's plan for leaving the EU
Prime Minister May spoke on Jan 17th about how the UK plans to leave the EU over the next two years. So far there appears to be some clear tensions within the UK's government about immigration and our topic of international business. The UK is definitely committed to leaving a single market and pursuing their own free trade agreements. There is concern that by doing this it could make the UK a "bargain basement" for trade deals. Mrs. Mays plan does not go into much detail or use specifics yet, it is said that is due to national security. However, there is motivation for the EU to work the UK because of the Brittish market and many relationships it already holds.New York Times, Jan 17th 2017 -Sacha B
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It is clear that the EU would be benefited by working along side the UK due to British market and the relationships it has already has to offer. Now would making the UK there own free trade agreement be better then having their own single market in the long run? I thought it was very interesting reading this article as well and to see this in a different point of view. She also mentions that she plans on finalizing the deal with European Union by 2019. This will be interesting to see how this plays out.
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ReplyDeleteTheresa May's speech for a 'fast brexit' is powerful. And Tony Blair's follow on speech a perhaps difficult attempt to persuade parliament to slow down before it's too late. What Britain MIGHT gain by drawing away from the single market economy and keeping some money in London instead of in Brussels, Britain MAY lose via Scotland's separation (including a lot of Oil and Whiskey revenues!) Keep us posted!
DeleteI think in the long run Britain will regret voting to leave the EU. Look at what it already has done to the value of their pound.
ReplyDeleteMaybe that's a sign it's a good time to visit.
DeleteThe pound is still stronger than the dollar, but compared to 5 years ago when 10 pounds bought 16USD, today it buys only 12USD. So yes, things are 'cheaper' for Americans visiting the UK. Sweden is a good place to visit now. The kronor was STRONG for the last 10 years, but is now weakening against the dollar. Happy shopping!
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