No, just the portion. I doubt it will even be a half. And if all market, trading and passport, clearing stuff gets sorted through it might be no more than 15%. Some jobs will be lost for sure. But then some jobs will be gained, cause of the other stuff.
Obviously it will be a portion. Instead of headquarters in the UK and offices in Franfurt it will be the other way around
13% that's including UK? I think so, i've seen this number before, it's a EU exports to UK to total EU exports. Though i am not sure. Not the best way to calculate it obviously.
But anyway these percentages hardly matter, what matters much more is than UK buys way more from EU than sells them, the trade deficit is way over 50 billions, so if all the tariffs will revert to WTO then it will be EC who will be hit harder. Sure one can point out that the whole of EC is actually bigger than UK, so a fallout would not be as critical. But the thing is, it still will hit hard and it's vital to remember, than EC is not a country. It's a block and right now they have several very small okay economies like northern countries and then only one good economy, that's Germany. France is in much worse shape than UK is. Italy and Spain are in post-recession blues with economies that hardly work.
Basically EC always benefited Germany that is an export oriented economy with strong production, it has trade surpluses with almost every EC country. And german products are good, if they will have restricted access to UK market, first of all people will still buy them, then germans can sell their goods to other countries. It's a not so big deal for them. But what about the rest of EC? Many of them are very much dependent on UK market, because it's one of the few in EC were they do have significant trade surpluses, to compensate for deficits in other places.
Note that UK is the only big economy that is the least EU in terms of intra EU trade. You can't argue with number, sure EU is a major partner and it will stay that way, but UK over time moves away and away from EU trade. And right now, in 2016 the single market actually provides better opportunity for other european companies to export into UK rather than UK exporting to EU.
I was in work last night and worked out that over 3/4 voted leave .Most of the ones I asked why cane out with the same answer 'immigration ".The few who did vote remain were all under 23 and me (48). I live and work in Wales which gains most from EU membership.Farage and co have pulled off the biggest con job in history I despair for the future for my kids and for all young people in this country.
Note that UK is the only big economy that is the least EU in terms of intra EU trade. You can't argue with number, sure EU is a major partner and it will stay that way, but UK over time moves away and away from EU trade. And right now, in 2016 the single market actually provides better opportunity for other european companies to export into UK rather than UK exporting to EU.
Now if you only asked yourself *why* this trade deficit is that high. You think you are importing all these goods for fun? No, it is because you *need* these goods.
Your agricultural sector is way too small to feed your country. That little that is left of your manufacturing industry needs to buy parts and components to keep your manufacturing processes running.
So, if you went the *lollollol, give us what we want or we won't import your stuff* route, not a single car would be built in your country, and you'd have to joy of looking forward to a nice turnip-diet at your dinner tables.
The majority of your wealth stems from financial services. Thing is, with being outside the EU you can no longer act as the EUs financial center.
So, no it will not be the EU who's going to feel it harder.
