Email of the day
Comment of the Day

September 05 2016

Commentary by David Fuller

Email of the day

On Joseph Stiglitz:

Dear David and Eoin. 

I guess you saw this article. 
http://www.telegraph.co.uk/business/2016/09/04/britain-can-leave-eu-and-still-thrive-says-stiglitz/

Joseph Stiglitz makes some good points. He says:
"There are two scenarios. If Europe adopts the Juncker approach, which is to say we’ll cut off our nose to spite our face and punish Britain for leaving, then that’s not so good."

“But it really wouldn’t be in Europe’s interests to do this. The US is actively engaged in Europe, in manufacturing, services and finance, and our trading relationship with Canada, where we have a free trade agreement, but no single market and no free movement, works well, actually really well, for Canada.

“So you should be no worse off than Canada is with the United States. I find it quite hard to believe that you [Britain] would be treated worse by Europe than the US or Canada, or Canada is by the US. This would be hard to justify”.

David Fuller's view

Thank you for your email, plus the article link and quotes.  Yes, I did see it because I read The Telegraph before anything else.  I had posted the article in my copy above, along with my own brief comments. 

I think Junker has been marginalised because there is no appetite right now for ever ‘more Europe’ within the EU.  However, plenty of EU politicians are understandably, disappointed, frustrated and angry about the economic and political morass in which they find themselves.  A few of them are lashing out although Brexit is a symptom rather than the problem.  Privately, my guess is that the UK is admired more than disliked for leaving the EU.

 

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