UK OUTGREW TOP 3 EUROZONE ECONOMIES IN LAST QUARTER 2018

Latest official EU figures show UK outperforming top Eurozone economies

Germany, France and Italy grew less, and Germany even flat-lined compared to previous quarter

Yesterday the official flash figures for GDP in the final quarter of 2018 were released in Brussels, showing the UK beating Germany, France and Italy.

These figures did not make the BBC news headlines, for reasons which will be obvious, so Brexit Facts4EU.Org thought you would like to see them.

In the final quarter of last year, Oct-Dec 2018, the UK economy outgrew the economies of Germany, France and Italy. These are the top three economies in the Eurozone – and they will be the top three economies in the entire EU27 after Brexit.

The economic powerhouse of the EU is Germany. Since Western Germany was allowed to unify with East Germany in 1990, it became the most populous EU country, with some 83 million people today. This makes it 25% bigger than the UK, according to the EU’s own population estimates.

In the last six months of 2018 Germany failed to grow its economy

When the UK leaves the EU, Germany will contain 18.5% of the population of the EU27.
In economic terms it will be responsible for a staggering 25.1% of total EU GDP.

Put simply, if Germany catches an economic cold, the rest of the EU goes down with pneumonia.

Observations

All manner of caveats can be put on any set of economic results. That said, the UK economy easily outperformed the major three economies of the EU27 in the final quarter of last year.

Exports are booming, employment is at its highest-ever level, the unemployment rate is the lowest it has been for many decades, and wages are increasing in real terms.

Conversely on the continent, serious crises continue to afflict the EU. The Italian economy hasn’t grown in real terms this century and its banks remain vulnerable. The EU is at war with itself, as the newer members from the East continue to hold out against dictatorial edicts and court actions from Brussels.

Manufacturing output has been falling in the major EU economies and the European Central Bank’s ability to stimulate these economies has all but run out.

Germany still has massive reserves, having accumulated wealth while poorer EU countries have suffered, but it is starting to feel the effects of the costs of its massive influx of migrants just as its dominant car industry is spluttering under the diesel emissions scandal.

And meanwhile, mostly unreported in the UK, there is considerable angst at the prospect of the EU Parliament containing a huge new wave of ‘populist’ MEPs following the May elections. ('Populist' of course means popular with the public - something the EU are none too keen on.)

If ever there was a time for Theresa May to walk tall and demand an equitable deal with the EU it is now.

Sadly this woman isn’t capable of this, as we have said all along.

The EU has been producing many official policy statements on a ‘no deal’ Brexit and continues to do so. Most of these maintain the status quo, as in the case of road haulage. The UK should leave on 29 March as repeatedly promised by the Prime Minister and should now be focusing on all these ‘side deals’, instead of wasting time on impossible negotiations for an over-arching deal with fanatical political ideologues.

If you value positive news like this from official sources which reassures the public about a #GoWTO World Trade Brexit, please support our work with a donation today (see below).

Please also back the official and original #GoWTO public campaign which we initiated, by writing to your MP today.

[Sources: Eurostat official flash figures released 14 Feb ]

15 Feb 2019

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Reader Comments 2

1. George, Norwich , Friday, February 15, 2019, 07:32:

Any of the 3 largest Eurozone economies' problem would cause serious difficulties for the whole of the EU. Even a simultaneous problem with a few of the smallest economies in the EU would do the same. (See Greece). Our media endlessly talks about the necessity of a close economic relationship with the EU but conveniently never mentions the dangerous domino effect that this whole economic all-togetherness of the EU means.
We're SO much better off out! #GoWTO !

2. barbara Jell , Friday, February 15, 2019, 23:54:

And why does the 'squalid' (his name for Leavers) failure John Major wish to tie Britain to another monumentally dysfunctional failure? Snouts in the trough perhaps? He even awarded another failure, Neil Kinnock AND his wife, plum jobs on the EU gravy train - how very magnanimous of him. I understand their pensions are 90,000 euros pa, which is OUR money recycled.
Our cosy little club of self-serving politicians really are beneath contempt.

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