Brexit - Post Match Reaction

[badgerx16]

13 minutes ago, Mosin said:

then they are not likely to be raising the price to be greedy while trying to keep prices down so they can compete at the exact same time so they dont lose custom to the cheaper producer.

It cant go both ways.


 

No, they will find their lowest possible price being undercut. Ultimately, most shoppers look at price over country of origin.

[Mosin]

2 hours ago, badgerx16 said:

No, they will find their lowest possible price being undercut. Ultimately, most shoppers look at price over country of origin.

How do you know? your guessing... 500g of ribeye steak costs 19.50 aud ( less than 5 months ago when i was at woolworths buying a few for a family bbq) so around 50 pence more than UK's current price, what makes you think Australian companys are going to charge less for its products from uk customers than it does its Australian customers even though it needs to ship it half way around the world just to sell it?

[badgerx16]

8 minutes ago, Mosin said:

How do you know? your guessing... 500g of ribeye steak costs 19.50 aud ( less than 5 months ago when i was at woolworths buying a few for a family bbq) so around 50 pence more than UK's current price, what makes you think Australian companys are going to charge less for its products from uk customers than it does its Australian customers even though it needs to ship it half way around the world just to sell it?

It is the UK NFU that think the deal will adversely affect UK farmers. They ought to know.

 

Also, these are some other opinions, ( or are they all guessing ? );

https://www.independent.co.uk/climate-change/news/uk-farmers-trade-deal-australia-b2046471.html

"The UK-Australia trade deal could allow Australian farmers to flood the market with inferior products including beef and lamb, taking a heavy toll on the environment, undercutting UK farmers, and lowering animal welfare standards, the government has been warned.

The zero-quota, zero-tariff deal agreed with Australia will increase UK farmers’ exposure to “unfair competition with outdated, cruel, and unsustainable farming practices the UK has already moved away from”, according to an analysis by a coalition of organisations."

https://www.sustainweb.org/news/nov22-george-eustice-australia-trade-deal/

George Eustice, former Environment Secretary:

    "If some foreign court or foreign mediation process were to say as a matter of treaty that the UK had to accept beef from Australia treated with hormones, that could change the nature of this agreement considerably; volumes could rise significantly, perhaps to more than 200,000 tonnes over time, and that would have a very severe impact on British beef."

https://www.politico.eu/article/liz-truss-uk-food-sector-australia-new-zealand-trade-deal/

"The disclosure has already sparked anger from the U.K.'s farming lobby, which has long argued the deals — held up as a key prize of Britain's freedom from the European Union — will hit its members hard, while campaigners argue it shows tighter scrutiny of those deals is needed.

"It’s simply infuriating that the government ploughed on in its negotiations while, as these own government department reports show, ministers knew that British agriculture was likely to be the most impacted sector, putting at risk hundreds of millions of pounds and thousands of jobs,” said Minette Batters, president of lobby group the National Farmers' Union."

 

[Warriorsaint]

On 31/05/2023 at 16:24, Mosin said:

lol, i doubt ill be close to eating carboard any time soon. if things are that tough for you, have you tried a job?

😂 “Get a job” I earn a shed load more than you, own two houses outright and currently sitting in a Villa in Turkey looking at big titted German women. Why the hell would I want to be like you and your drab lorry driving existence?

The problem with Brexshitters is they like to shoot downwards on the less fortunate whereas people who believe in optimism, inclusiveness and progress believe in bringing everyone up on a lifting tide.

Sadly miserliness exudes from you Mosin. 

[Weston Super Saint]

31 minutes ago, Warriorsaint said:

😂 “Get a job” I earn a shed load more than you, own two houses outright and currently sitting in a Villa in Turkey looking at big titted German women. Why the hell would I want to be like you and your drab lorry driving existence?

The problem with Brexshitters is they like to shoot downwards on the less fortunate whereas people who believe in optimism, inclusiveness and progress believe in bringing everyone up on a lifting tide.

Sadly miserliness exudes from you Mosin. 

All that due to you living in glorious Britain, the country you continuously deride.

If only you'd never left your amazing homeland, you could have owned three houses out right by now.

[whelk]

1 hour ago, Warriorsaint said:

😂 “Get a job” I earn a shed load more than you, own two houses outright and currently sitting in a Villa in Turkey looking at big titted German women. Why the hell would I want to be like you and your drab lorry driving existence?

The problem with Brexshitters is they like to shoot downwards on the less fortunate whereas people who believe in optimism, inclusiveness and progress believe in bringing everyone up on a lifting tide.

Sadly miserliness exudes from you Mosin. 

Is looking at big titted German women a sign of your wealth ie paid for, or you just ogling the neighbours so just incidental in the story?

[Warriorsaint]

39 minutes ago, whelk said:

Is looking at big titted German women a sign of your wealth ie paid for, or you just ogling the neighbours so just incidental in the story?

Envy isn’t a good look. Like I said. The miserly mealy mouthed comments shows the way you voted. Brexitards can’t/won’t accept their Brexit utopia was a unicorn. Some might even call you snowflakes for being so easily triggered.

You knew what you voted for didn’t you? Been a massive success hasn’t it?

Working class Tories. Blinded by the Daily mail hate. Muckraker, Poisin,Giddy Middle and the rest of you Brexshitters riddiculed and ultimately derided as the reactionary buffoons you are. 😂😂😂😂😂

[Warriorsaint]

1 hour ago, Weston Super Saint said:

All that due to you living in glorious Britain, the country you continuously deride.

If only you'd never left your amazing homeland, you could have owned three houses out right by now.

Au contrare mon ami! I love the country and the wonderful, kind open hearted, progressive, inclusive English, Scots and Welsh folks Ive lived with for thirty years.

Its, dare I say, the reactionary, race baiting, racist bigots that try and create a narrative of Faragist Britain that I deride of which you are a proud member.

Keep em coming snowflake.

[trousers]

19 minutes ago, Warriorsaint said:

Envy isn’t a good look. Like I said. The miserly mealy mouthed comments shows the way you voted. Brexitards can’t/won’t accept their Brexit utopia was a unicorn. Some might even call you snowflakes for being so easily triggered.

You knew what you voted for didn’t you? Been a massive success hasn’t it?

Working class Tories. Blinded by the Daily mail hate. Muckraker, Poisin,Giddy Middle and the rest of you Brexshitters riddiculed and ultimately derided as the reactionary buffoons you are. 😂😂😂😂😂

You do realise that the more vitriol you fire off at the dimbo brexit voters the more amused and delighted they become? Not sure why you'd want to give the thickos so much joy? Maybe it's one of those 'win win' things? i.e. you get joy out of reminding them how thick they are every 5 minutes, and they get reciprocal joy out of hearing you say it so often?

[whelk]

1 hour ago, Warriorsaint said:

Envy isn’t a good look. Like I said. The miserly mealy mouthed comments shows the way you voted. Brexitards can’t/won’t accept their Brexit utopia was a unicorn. Some might even call you snowflakes for being so easily triggered.

You knew what you voted for didn’t you? Been a massive success hasn’t it?

Working class Tories. Blinded by the Daily mail hate. Muckraker, Poisin,Giddy Middle and the rest of you Brexshitters riddiculed and ultimately derided as the reactionary buffoons you are. 😂😂😂😂😂

You come across as one of more unhinged posters on here. Makes me think you may have inherited or married into your wealth rather than earned it, unless you behave significantly more measured in the workplace/business?

[Weston Super Saint]

3 hours ago, Warriorsaint said:

Au contrare mon ami! I love the country and the wonderful, kind open hearted, progressive, inclusive English, Scots and Welsh folks Ive lived with for thirty years.

Its, dare I say, the reactionary, race baiting, racist bigots that try and create a narrative of Faragist Britain that I deride of which you are a proud member.

Keep em coming snowflake.

Bless.

I'm assuming you're looking at the 'big titted German women' (I guess you choice of vocabularly shows how much of a bigot you are), whilst on holiday.  Your company must be fucking riveting if your holiday companions have abandoned you to post bollocks on a mong board.

Enjoy your holiday - you (or probably your wife?) paid for it.

Edited 2 June, 2023 by Weston Super Saint

[Mosin]

12 hours ago, Warriorsaint said:

😂 “Get a job” I earn a shed load more than you, own two houses outright and currently sitting in a Villa in Turkey looking at big titted German women. Why the hell would I want to be like you and your drab lorry driving existence?

The problem with Brexshitters is they like to shoot downwards on the less fortunate whereas people who believe in optimism, inclusiveness and progress believe in bringing everyone up on a lifting tide.

Sadly miserliness exudes from you Mosin. 

I question your honesty, you are here every other day moaning about and obviously upset about every little tiny price rise, crying over every potential price rise and apparently your a shed load richer than me who doesnt care about the small price incress on i guess my tiny wages compared to you ( How you know how much i earn amazes me mind, you dont even know what trucks and substances i can move to even have an educated guess at my wages ).

Your apparently in Turkey, in a Villa, with ( Why you thought the nationality the women is some how relevent i dont know, but least you show its important to you ) " Big titted German women " ( What decent man / human talks about a women that way out side of horney hormonal teenagers / drunken slobs at the pub ) whilst staring frantically at Saints web? Who you trying to fucking kid... no decent man, in the pressence of women would sit on a mong board and not be focused on the people in his company ( Unless they are telling porkies )

Its funny, cause you claim brexiteers are racist, yet your obviously more focused on peoples nationality than every brexiteer ive seen on this website, your way more insultive than any brexiteer ive seen on this website, and are clearly a misogynist ( or you are an hormonal teenager, you pick ).

Edited 2 June, 2023 by Mosin

[Warriorsaint]

🎣🎣🎣🎣🎣🎣🎣🎣

[Warriorsaint]

On 02/06/2023 at 10:18, trousers said:

You do realise that the more vitriol you fire off at the dimbo brexit voters the more amused and delighted they become? Not sure why you'd want to give the thickos so much joy? Maybe it's one of those 'win win' things? i.e. you get joy out of reminding them how thick they are every 5 minutes, and they get reciprocal joy out of hearing you say it so often?

It’s juvenile I know, but I get a kick out of the frothing Gammon snowflakes They are always a hair trigger from a heart attack. 
My favourite is Lord Donkeywank but he has me on ignore. Bit of a snowflake if you ask me.

Still it’s a little itch I can’t help but scratch. Gives me a giggle 🤭 

Edited 3 June, 2023 by Warriorsaint

[egg]

On 02/06/2023 at 10:18, trousers said:

You do realise that the more vitriol you fire off at the dimbo brexit voters the more amused and delighted they become? Not sure why you'd want to give the thickos so much joy? Maybe it's one of those 'win win' things? i.e. you get joy out of reminding them how thick they are every 5 minutes, and they get reciprocal joy out of hearing you say it so often?

I think it's a case of the more vitriol he fires off, the more wound up he gets. It ain't gonna change a thing on the ground - he's edging himself nearer to a coronary, bit we're still out of the EU. 

As a wise man said, "what is anger". The answer, of course, "it's a punishment you give yourself for someone else's mistakes". 

 

[Weston Super Saint]

1 hour ago, Warriorsaint said:

It’s juvenile I know, but I get a kick out of the frothing Gammon snowflakes They are always a hair trigger from a heart attack. 
My favourite is Lord Donkeywank but he has me on ignore. Bit of a snowflake if you ask me.

Still it’s a little itch I can’t help but scratch. Gives me a giggle 🤭 

I wish my holidays were as exciting as yours having to post on a mong board to get your "kicks".

Weirdo.

[Tamesaint]

10 minutes ago, Weston Super Saint said:

I wish my holidays were as exciting as yours having to post on a mong board to get your "kicks".

Weirdo.

Why do you always feel that you have to tell people what they should do on their holiday? Just because Warrior doesn't sit on the beach at Weston Super Mud with a handkerchief on his head and trouser legs rolled up like you do.

Edited 3 June, 2023 by Tamesaint

[badgerx16]

23 minutes ago, Weston Super Saint said:

I wish my holidays were as exciting as yours having to post on a mong board to get your "kicks".

Weirdo.

Mong board or big titted German women, difficult choice.

[Weston Super Saint]

1 hour ago, Tamesaint said:

Why do you always feel that you have to tell people what they should do on their holiday? Just because Warrior doesn't sit on the beach at Weston Super Mud with a handkerchief on his head and trouser legs rolled up like you do.

Lol. Why would I go on holiday where I live, fuckwit.

I'm not telling him what he should or shouldn't do, merely mocking him for being such a lame cunt posting on a mong board when there are so many "big titted German women" he can ogle in a creepy way.

[whelk]

20 minutes ago, Weston Super Saint said:

Lol. Why would I go on holiday where I live, fuckwit.

I'm not telling him what he should or shouldn't do, merely mocking him for being such a lame cunt posting on a mong board when there are so many "big titted German women" he can ogle in a creepy way.

Noticed no denial of the hankerchief and the rolled up trousers?

[Weston Super Saint]

3 minutes ago, whelk said:

Noticed no denial of the hankerchief and the rolled up trousers?

Absolutely not!  Traditional attire on the WSS holidays.  I'm struggling to think what else should be worn when eating chips off a tray, apart from a string vest of course.

[AlexLaw76]

30 minutes ago, Weston Super Saint said:

Absolutely not!  Traditional attire on the WSS holidays.  I'm struggling to think what else should be worn when eating chips off a tray, apart from a string vest of course.

[Weston Super Saint]

24 minutes ago, AlexLaw76 said:

This is what happens when you don't wear a knotted hankie... Hooligans.

[Danbert]

https://www.independent.co.uk/news/uk/politics/boris-johnson-uk-embarrassment-australia-b2350567.html

 

Boris showing his thorough understanding of international diplomacy once again

[badgerx16]

4 minutes ago, Danbert said:

https://www.independent.co.uk/news/uk/politics/boris-johnson-uk-embarrassment-australia-b2350567.html

 

Boris showing his thorough understanding of international diplomacy once again

Mosin said that there are no issues with the Aussie trade deal, UK farmers just need to keep their costs down.

[badgerx16]

 

[Tamesaint]

It's all right. Moisin assures us that the deal is fantastic. 

Perhaps he is an Aussie. 

[Mosin]

4 hours ago, badgerx16 said:

Mosin said that there are no issues with the Aussie trade deal, UK farmers just need to keep their costs down.

come on, a few posts ago i was being told by a remainer that british farmers are going to put prices up and be greedy because the goverment are putting the cost of importing said products up from the EU. Now british famers are apparently not going to be greedy, but are going out of buisness because they cant compete with australian farmers who need to ship it half way around the world, and are so going to undercut our own farmers to sell at a lose to drive british farmers out of buisness? all this back and forth that started apparently with greedy british farmers but now all in 48 hours, Its poor farmers.....  LOL

 

2 hours ago, Tamesaint said:

It's all right. Moisin assures us that the deal is fantastic. 

Perhaps he is an Aussie. 

My parents live in Australia, Moved 25 years ago.

 

Edited 3 June, 2023 by Mosin

[badgerx16]

26 minutes ago, Mosin said:

come on, a few posts ago i was being told by a remainer that british farmers are going to put prices up and be greedy because the goverment are putting the cost of importing said products up from the EU. Now british famers are apparently not going to be greedy, but are going out of buisness because they cant compete with australian farmers who need to ship it half way around the world, and are so going to undercut our own farmers to sell at a lose to drive british farmers out of buisness? all this back and forth that started apparently with greedy british farmers but now all in 48 hours, Its poor farmers.....  LO

 

Take it up with the National Farmers Union, which does not think the deals with Australia and New Zealand hold any benefit for UK farmers: "We continue to maintain that a tariff free trade deal with Australia will jeopardise our own farming industry and will cause the demise of many, many beef and sheep farms throughout the UK."

[Tamesaint]

Does anyone have a clue about the point that Moisin is making?

[CB Fry]

29 minutes ago, Tamesaint said:

Does anyone have a clue about the point that Moisin is making?

He hasn't got a clue himself so I wouldn't worry about it.

[Warriorsaint]

Lol Brexitards. More Tory Brexit wins.

https://www.politico.eu/article/boris-johnson-sold-out-uk-farmers-australia-trade-deal-uk/

[Mosin]

8 hours ago, badgerx16 said:

Take it up with the National Farmers Union, which does not think the deals with Australia and New Zealand hold any benefit for UK farmers: "We continue to maintain that a tariff free trade deal with Australia will jeopardise our own farming industry and will cause the demise of many, many beef and sheep farms throughout the UK."

So any sort time scale i can expect Ross May farm to close? Because they dont seem to concerned, will have to find a new place to shop i guess. God knows why they are expanding if they are going out of buisness any moment now......
 

[Mosin]

2 hours ago, CB Fry said:

He hasn't got a clue himself so I wouldn't worry about it.

I dont have a clue?.

These folks have gone in 48 hours from - Greedy farmers going to raise prices and  grab every penny they can get.. because the goverment are putting tariffs up for EU produced good which cost less than British and is more profitable than British meat ( Funny how eu meat didnt destroy british meat even though its always been much cheaper than British and been tariff free.)

too......... - UK farmers are going out of buisness because Australian farmers who already make less per cow than UK farmers do, are going to ship it all the way over here to sell it at a lower price?

 

Edited 4 June, 2023 by Mosin

[badgerx16]

1 hour ago, Mosin said:

So any sort time scale i can expect Ross May farm to close? Because they dont seem to concerned, will have to find a new place to shop i guess. God knows why they are expanding if they are going out of buisness any moment now......
 

As before, contact the NFU and ask them, it is their quotes I am posting.

[badgerx16]

1 hour ago, Mosin said:

I dont have a clue?.

These folks have gone in 48 hours from - Greedy farmers going to raise prices and  grab every penny they can get.. because the goverment are putting tariffs up for EU produced good which cost less than British and is more profitable than British meat ( Funny how eu meat didnt destroy british meat even though its always been much cheaper than British and been tariff free.)

too......... - UK farmers are going out of buisness because Australian farmers who already make less per cow than UK farmers do, are going to ship it all the way over here to sell it at a lower price?

 

You are conflating 2 issues; Post-Brexit checks on certain foodstuffs imported from the EU are anticipated to drive those prices up, whilst tariff free lamb and beef from Australia and New Zealand will undercut UK producers of those 2 specific product lines. We are not importing Australian cheese, nor Italian or Slovenian lamb.

Edited 4 June, 2023 by badgerx16

[CB Fry]

2 hours ago, Mosin said:

I dont have a clue?.

These folks have gone in 48 hours from - Greedy farmers going to raise prices and  grab every penny they can get.. because the goverment are putting tariffs up for EU produced good which cost less than British and is more profitable than British meat ( Funny how eu meat didnt destroy british meat even though its always been much cheaper than British and been tariff free.)

too......... - UK farmers are going out of buisness because Australian farmers who already make less per cow than UK farmers do, are going to ship it all the way over here to sell it at a lower price?

 

As I say, you haven't got a clue.

[scally]

 

 

 

[buctootim]

3 hours ago, scally said:

 

 

 

Yeah. Imagine if something real had happened instead of scaremongering - like financial services vancancies being down 60% compared to Q1 2017

 

 

.  

[scally]

8 hours ago, buctootim said:

Yeah. Imagine if something real had happened instead of scaremongering - like financial services vancancies being down 60% compared to Q1 2017

 

 

.  

https://www.express.co.uk/news/politics/1777403/brexit-uk-foreign-direct-investment-financial-services

Ye imagine

[sadoldgit]

Another great “benefit” from the clusterfuck that is Brexit?

https://www.independent.co.uk/travel/news-and-advice/eurostar-london-amsterdam-trains-cancellation-2024-b2352090.html

[east-stand-nic]

On 26/05/2023 at 13:08, Guided Missile said:

This week, Germany fell into a technical recession, with GDP contracting in the final quarter of 2022 and again in the first quarter of 2023. Around the same time, the IMF revised its forecasts, stating that Britain will not be facing a recession this year.

It seems that Brexit is even affecting Germany...

Indeed. I do not want to get involved in threads like this as people are too myopic. They are either this side or the other and cannot see anything in between. But the economy in Germany is indeed in a bad way. I suspect that is just the way of the world and COVID lock downs. So, why are people so convinced the UK is suffering ONLY because of Brexit. It beggars belief that people can be so blinded by their political persuasions as to simply shut their ears and eyes to other probabilities.

Anyway, said my piece. Wont be getting involved further as some of the characters and abuse in this section of the forum goes way beyond reasonable human behavior.

[buctootim]

5 hours ago, scally said:

https://www.express.co.uk/news/politics/1777403/brexit-uk-foreign-direct-investment-financial-services

Ye imagine

Duh. London used to be the biggest financial centre in the world before Brexit, now its only No1 in Europe. Before Brexit only one EU financial centre was even in the top 20 - Frankfurt at No18 because London was the undisputed EU hub. Now London has fallen to second globally as it has haemorrhaged business to EU cities.  Paris, Amsterdam, Munich,  Luxembourg and Frankfurt are all now top 20 in only 7 years. Way to go Brexit.   And it's a process which is only going to get worse. Big institutions generally do not try to force their top performing senior managers to relocate - but when they retire or leave the vacant post is moved to the new city.  

Edited 6 June, 2023 by buctootim

[spyinthesky]

Whenever I speak to the few hardline Brexiteers I come across, there is very little recognition that they may have been duped by Bumbling Boris and his ERG mates.

I was a Remainer but hoped my decision to vote accordingly was misguided and there was indeed a golden future awaiting us outside of the EU.

As Diana Ross sang ..I'm Still Waiting'........

[Warriorsaint]

Another Brexit benefit 

https://flip.it/I2QnkR

[badgerx16]

4 hours ago, east-stand-nic said:

Indeed. I do not want to get involved in threads like this as people are too myopic. They are either this side or the other and cannot see anything in between. But the economy in Germany is indeed in a bad way. I suspect that is just the way of the world and COVID lock downs. So, why are people so convinced the UK is suffering ONLY because of Brexit. It beggars belief that people can be so blinded by their political persuasions as to simply shut their ears and eyes to other probabilities.

Anyway, said my piece. Wont be getting involved further as some of the characters and abuse in this section of the forum goes way beyond reasonable human behavior.

I am not sure that many blame all perceived economic woes on Brexit, but a similar number to those who do will swear blind that Brexit has had no negative effect whatsoever. The reality is that Brexit will have had, and will continue to have, a downward influence of the UK economy, if only because we have voluntarily imposed restrictions on trade with our biggest market and as yet have failed to find an alternative of sufficient volume and value, and there does not currently seem to be such an option in the short or medium term.

[whelk]

Brexit has made people piss on buses

[scally]

6 hours ago, buctootim said:

Duh. London used to be the biggest financial centre in the world before Brexit, now its only No1 in Europe. Before Brexit only one EU financial centre was even in the top 20 - Frankfurt at No18 because London was the undisputed EU hub. Now London has fallen to second globally as it has haemorrhaged business to EU cities.  Paris, Amsterdam, Munich,  Luxembourg and Frankfurt are all now top 20 in only 7 years. Way to go Brexit.   And it's a process which is only going to get worse. Big institutions generally do not try to force their top performing senior managers to relocate - but when they retire or leave the vacant post is moved to the new city.  

https://news.cityoflondon.gov.uk/london-and-new-york-tie-as-top-global-financial-centres-according-to-new-benchmarking-research/#:~:text=News Releases-,London and New York tie as top global financial centres,as leading financial centres globally.

Not quite as bad as you'd like to make out

[buctootim]

6 hours ago, scally said:

https://news.cityoflondon.gov.uk/london-and-new-york-tie-as-top-global-financial-centres-according-to-new-benchmarking-research/#:~:text=News Releases-,London and New York tie as top global financial centres,as leading financial centres globally.

Not quite as bad as you'd like to make out

That's just a puff PR piece by the City of London. Everybody knows its screwed without the single market. The single market was the reason it became pre-eminent in the first place.  

https://newfinancial.org/wp-content/uploads/2021/04/2021.04-Brexit-the-City-the-impact-so-far-EXTERNAL.pdf 

 

The former boss of the London Stock Exchange (LSE) has warned that “sideshow” reforms aimed at boosting the market’s competitiveness will not save the Square Mile from perpetual decline....  https://www.telegraph.co.uk/business/2023/06/04/city-london-regulation-reforms-xavier-rolet-lse-chief/

 

LONDON, Dec 9 (Reuters Breakingviews) - British finance minister Jeremy Hunt wants to boost the City of London. But a package of measures unveiled on Friday, dubbed the Edinburgh Reforms, will do little to reverse the post-Brexit flow of financiers to the continent.https://www.reuters.com/breakingviews/uks-big-bang-barely-mitigates-citys-brexit-pain-2022-12-09/

 

LONDON, April 16 (Reuters) - Over 400 financial firms in Britain have shifted activities, staff and a combined trillion pounds ($1.4 trillion) in assets to hubs in the European Union due to Brexit, with more pain to come, a study from New Financial think tank said on Friday.

"We think it is an underestimate and we expect the numbers to increase over time: we are only at the end of the beginning of Brexit," the study said.

Edited 6 June, 2023 by buctootim

[Guided Missile]

Oops...

Quote

The eurozone entered into a technical recession at the start of the year, according to revised data, as rising inflation hit consumer spending. The economy shrank by 0.1pc for a second consecutive quarter in the first three months of 2023, figures from the EU’s statistic agency showed. Eurostat revised down an earlier forecast that had predicted slight growth, after the continent’s largest economy Germany said last month it had fallen into recession. It had previously estimated that the eurozone economy had expanded by 0.1pc in the first quarter of the year. Household consumption slumped by 0.3pc over the period, following a decline of 1pc in the previous quarter, indicating domestic demand was “hit hard by the combination of inflation and rising interest rates,” according to economists.

It comes as the European Central Bank is expected to continue raising interest rates at its next meeting later this month, and again in July, in a bid to bring down persistent inflation. Capital Economics’ chief Europe economist Andrew Kenningham warned that the eurozone economy “is likely to contract again in the second quarter as the effects of monetary policy tightening continue to feed through”.