Australia doesn’t need to offer a free trade deal if both the UK and Australia are in the WTO… happens automatically I believe.
Unless your a staunch Austrian Economist, your wanting tariffs and other protections built into your trade deal.
And Australia is like, about as far from the UK as you can get. Honestly, think it is on the very opposite side of the planet.
Realistically though, shes right - the Euro might very well tank, permanently lose some of its value at least, down the line, not too long of a term.
In any case the Pound may have reached its lowest point versus the dollar soon, and it may will become a very interesting investments for a lot of wannabe-clever investors, of which there are many. This new dynamism between the currencies is healthy.
The trade deals will in general not require any protocol except one country approaching another - ‘yo let’s do business’ - which the EU membership prevented. Upper middle classes in some countries profited from the EU, all lower classes suffered. All the upper classes benefited tremendously in financial leverage, but at great costs to the traditional, well understood ways of running a producing economy. So all that gain was short term anyway.
The EU is a castrate.
FC, you may very well find the EU banking structure out lasts the EU by a few centuries. It may tank on occasion, but I suspect out of all of Europe, besides the Vatican and a handful of universities, it will outlast most nation states. Just have my doubt about the papered concept of currency, or even a electronic debt… Europe will need actual substance… copper, iron, steel, zinc, etc… for it’s 3-D printers, and assurity it can be held and sent to where it is necessary.
Might not be any difference between a bank and the postal system in 100 years. Industry, like Folded Uranium Plating… stuff that can’t realistically or healthily be produced at home, and the property and hardware that supports it, won’t be generated by such a banking structure though… can a bank or state leverage property, or “tax” a larger municipality or district, if people are largely self sufficient, for they larger, more complex goods that require ever higher degrees of specialization, and harder to produce and acquire components?
I think the FDIC was the first, the Federal Reserve the second, of large regional banking systems designed to manipulate a depot based market of imports and exports on this sort of basis, beyond what the old 18th century imperial systems offered. EU may very likely become indispensable in this regard. I doubt Europe will long last without another EUish structure popping up, seems inevitable, however rotten and in decline this current system is.
Maturity of industrialization will be the driving force that ensures the international banking system for this region survives. No matter what the import or export slate, you need these raw materials in the future… what expedited the digestive tract of Europe the best?
England can survive outside the EU via a commonwealth for some time (not forever), so it needn’t be immediately sucked in. Greece, Spain, Italy, Portugal are at the outskirts, with alternative trade partners, same for Eastern Europe.
My long term forecast isn’t concern for Germany… most countries can print what Germany now makes here in a generation, German technology is a joke outside of hardware. It is seeing how the core can maintain movement of goods between the outer edges, when multiple powers outside are tempting it to be torn apart.
Some unique banking and legal concepts will have to emerge, South America will likely copy whatever Europe does in that regard in mass, without much thought, not to mention the AU. AU is actually fast developing it’s own version of the EU, opening up a universal passport system. Rwanda was the first to abolish passports (honestly, who are they screening to keep out worst than who already lives in Rwanda?)… they got a economic boon from the act.
Lots of countries have been following.
WTO trade deals have tariffs, ranging from 5 to 30 percent on different goods, as I understand it. That’s how we currently trade with the USA, even though it’s our single biggest trading partner (unless you count the EU as one). Australia may well be on the other side of the world, but it has always been a big trading partner. We had a free trade deal with it until joining the EU, just as we had with all Commonwealth countries.
Maia, can you give five democratic benefits ordinary British people are going to gain from Brexit? Serious question…
Really, 5-30% ?
I never really checked, could be right.
5 benefits of sovereign independence that directly benefits democracy:
Any fucking suicidal moron trying to attack Brexit voters on not knowing what comes of independence and sovereignty has to explain yo everyone not under the whip of the EU why being independent is so deeply unfortunate.
Not bring a part of the EU works very well for several billion people, I fucking assure you, the world is doing well without it, and will carry on even if central Europe collapses into a giant sinkhole and dissappears forever. Why only England is too incompetent to go it alone in the eyes of the Bremain is beyond me, they did a damn good job of it for about 1500 years prior to the EU. Why all of a sudden it belongs to the domain of idiots and the uneducated to want independence is beyond me. The Amerixet worked damn well for us in 1783, to fuck what the canucks say, they live in a frozen wasteland. They tried to say the same doubter shit people now say in the Bremain camp. No self respecting country should ever let Canadians push you around. Fucking just push back, till they live on a iceberg somewhere far north.
We will be able to vote out of office those who govern us. This is not possible in the EU, because the commission is unelected.
Our elected representatives will be able to choose our own trade deals to increase our prosperity as we see fit.
Our elected representatives will be able to decide who can come and live and work here for the benefit of the economy.
Our elected representatives will be able to choose where we spend our money. For example, we really could put an extra £350 million pounds a week into the NHS, should we want to (though of course, as was always clear in the campaign, we might choose to spend it on other things as well. The crucial point here is that currently, we give all that money to the EU, who then choose to spend it how they decide, about half on UK projects, but not of our choosing).
Our elected representatives will be able to decide what regulations our firms and businesses operate under, increasing their flexibility.
That’s what we’ve been hearing on the news the last few weeks. Another thing that has been pointed out is that even if we don’t make any trade deals with the EU at all, a pound that is about 10 percent lower than its pre-Brexit rate will more than offset any of those tariffs anyway, for Europeans who still want to buy and sell to us.
Just to make certain, your saying the default WTO treaty, when trade deals aren’t otherwise in effect… anyone within the treaty can trade automatically with one another… it allows those sorts of tariffs?
Anyone else know this?
As I understand it, yes, that’s right. Those tarrifs are written into the WTO agreement and presumably can’t be increased by any country participating in the WTO.
Truly free… ark ark ark 
That’s what I figured.
This means an enormous boom for British trade, plain and simple.
Except that it’s a boom for actual businesses, relevant ones especially, rather than for the capitalmarketfringeservices that bounce around artificially compressed capital from databank to databank to nanoprofit.