Quote:
Originally Posted by Damien
We'll see what happens to the economy but up until September anyway we were in a holding pattern. At the moment we're still in the EU, we can still trade easily across Europe. Pretending Brexit has already happened and it's now fine is delusional. We'll see the real impact once we know what is actually going to happen to various industries.
As for what people think now then let's wait and see what people think when the drop in sterling filters though to prices. Inflation is already rising. Sterling is down 20% now. That's a massive hit to anyone who imports as part of their business and for consumer goods.
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People can think what they want but I certainly don't think it's all over one way or the other and that includes all the problems facing the Eurozone which a whole lot of people seem to be overlooking right now. Prices will rise and fall with the value of the currency (amongst other things) and that will vary according to a whole range of factors, short term uncertainty being one. The Euro is going to come under huge pressure sooner or later as things over there start to unravel (Italian banking crisis, Greece etc etc etc) and at that point Sterling will look a better bet, the current arguments will be reversed and the same people will no doubt be panicking about that too. We can't hope to run our economy properly over the long term if people are going to panic and demand change every time something like this happens. We've suffered far worse inflation in the past and for anyone who lived through that, this is nothing. Tough times may lie ahead but the only other option open to us is even more uncertain IMHO so let's not give the impression that staying in the EU was in some way a risk free panacea.