Will Hutton, the left wing economist and commentator has written a piece for The Huffington Post (HERE) explaining why he thinks the Norway style solution is the least worst option for us. He is more pessitmistic than me and thinks the risk of another first order banking collapse cannot be ruled out.
He believes if Theresa May/David Davis try to control immigration and exit the single market "the policies could trigger at best a deep economic recession and at worst a second financial crash and depression. I have never been so fearful for the British economy in my career as an economic commentator".
He quotes the words of futurist Parag Khanna, “EU countries are functionally inseparable, an egg that cannot be unscrambled. Their monetary system, transportation routes, energy grids, financial networks and manufacturing supply chains are all heavily integrated.” We are going to try unscrambling an egg back to its original state.
No comments:
Post a Comment