FRIDAY NIGHT: The moment the EU economy plunged over a cliff-edge
Following Brexit, the EU's share of the World economy plummeted in an instant
© Brexit Facts4EU.Org / No.10
Meanwhile even the Europhile IMF now forecasts the UK will grow faster than the Eurozone
When the UK left the EU on Friday 31 Jan 2019 at 11pm, a significant shift took place in the World’s economic tectonic plates.
Unmentioned in the mainstream media – and unmentionable in Brussels – the economy of the European Union dropped dramatically on Friday.
The Brexit Facts4EU.Org team has researched the latest data and we present a summary below in reader-friendly, layman’s terms.
The EU and their sinking feeling
- At 11.00pm GMT on Friday 31 Jan 2020 the EU became a smaller economic player in the World
- Trade deals with the EU are now less attractive for other countries
- As a result of Brexit, the EU will be just 17.7% of the global economy this year, according to latest IMF figures
© Brexit Facts4EU.Org - click to enlarge
The UK and that growing feeling – it’s positive for Brexit Britain
As we reported last month, the strongly Europhile and anti-Brexit IMF (International Monetary Fund) has updated its growth forecasts for last year and the next two years.
Brexit Britain is now forecast to grow faster than the Eurozone, faster than Germany, and faster than France. The IMF now predicts that the only two G7 advanced economies to outpace Britain will be the United States and Canada.
© Brexit Facts4EU.Org - click to enlarge
It is getting worse for the EU on the World stage
Following the EU Referendum in the UK in 2016, the EU suddenly became sensitive to the criticism from Brexit Facts4EU.Org and some other organisations about its pitiful performance in striking international trade deals. This is an area of “exclusive competence” for the EU Commission, which means that member states are unable to do their own trade deals.
Despite having an extremist-Europhile US President in Barack Obama, the EU was unable to conclude a deal with the largest economy in the World before he left office. To this day the EU still has no trade deal with the USA, nor any sign that this is likely any time soon.
Observations
At 11pm on Friday 31 Jan 2020 the EU suddenly became a much smaller place.
In an instant the EU lost :-
- Its second-largest economy
- It’s second-largest national population
- One of its two nuclear and military powers
- One of its two permanent members of the UN Security Council
- Its only member of the Five Eyes intelligence-sharing group
In the article above we have focused on the impact of Brexit on the economic size of the EU, showing how the EU fell over its own particular “cliff-edge” on Friday night.
We did this because no-one else had done it. No doubt we will be told “Well this was obvious” by Remainers and by some Brexiteers. Nevertheless these things need to be said. It is interesting how often it is that it’s only when we have researched and published such information that these things become “obvious”.
Economics are only a small part of the story of Brexit. Still, the Remainer side mostly focused on economics for the past four years, so they might wish to reflect now.
The real story of Brexit, of course, was always about sovereignty and democracy.
[ Sources: IMF World Economic Outlook ] Politicians and journalists can contact us for details, as ever.
Brexit Facts4EU.Org, Tues 04 Feb 2020
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