Brexit and British business

We may wonder if all the pro-leave politicians who told many lies were prepared when they would gain control. Did the Treasury start already developing Brexit plans during the campaign?

According to Churchmouse Campanologist, a semi-retired marketing copywriter who worked in London for many years and was, until the last decade, decidedly left-wing,

One of the reasons the government is delaying triggering Article 50, which formally begins Leave proceedings with Brussels, is to give businesses time to plan for the future.

He presents here a translation of the business section of Le Monde on June 23 which had two good articles about Brexit. One of their correspondents, Eric Albert, interviewed a few British business experts (‘Le casse-tête des accords commerciaux post-Brexit’, Économie et Entreprise, p. 4).

We think it best for Britain to return as a member of the World Trade Organisation anyhow having customs and tariffs applied between the UK and EU.

He also looks at another article on the same page in Le Monde with a Q&A with Andrew Balls, fund manager at Pimco (‘”La faiblesse des salaires nourrit le rejet d’Europe“‘). Balls explained — as the title says — that the British rejected Europe because of increasingly weak salaries.

Concerning the overall financial impact of Brexit Balls replied:

The heaviest consequences would be concentrated on the British economy. The doubts about an exit process, which could last for months, would penalise investment. A recession is not out of the question, but, overall, [making] any estimates would be tricky.

We also can not go around the fact that we shall have to face political risks of the rise of Eurosceptic populists.

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Preceding articles

Economic crisis danger for the rise of political extremism

Brexit clashes and reasons to consider to bring out the right vote

Backing the wrong horse

Brexit, Nexit, Vlexit and Frexit

Foreign workers and immigrants

Could Brexit lead to Frexit – or Czexit?

Brexit: The mother of all uncertainties

Pew survey shows a split in EU favorability

Churchmouse Campanologist

The newspapers from April 23 and 24 presented the worst case scenarios for British business in case of Brexit.

One of the reasons the government is delaying triggering Article 50, which formally begins Leave proceedings with Brussels, is to give businesses time to plan for the future. There are, of course, other reasons for the delay, mainly David Cameron’s resignation. He clearly said that his successor, to be decided by October, will be the one to invoke the article.

The business section of Le Monde on June 23 had two good articles about Brexit. One of their correspondents, Eric Albert, interviewed a few British business experts (‘Le casse-tête des accords commerciaux post-Brexit’, Économie et Entreprise, p. 4). Highlights follow, translation and emphases mine.

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