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That Brexit Plan B? May 11, 2016

Posted by WorldbyStorm in Uncategorized.
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Hard to not feel some sympathy in relation to the nebulous aspect of what Plan B might be, as described in the IT this morning:

Efforts to formulate a contingency plan for a British exit suffer from one great uncertainty – nobody knows what sort of an exit it would be.
“A full plan B isn’t possible yet because nobody can really define Brexit – I mean, what sort of a Brexit would it be?” says one senior source.

As Pat Leahy writes, it would take at least two years, possibly many more. We don’t wake up next month and the UK is out. It’s a process not an event. And one with – as Leahy notes – hugely negative impacts on so many aspects of this state (whatever views people have on the proximate issue) that one wonders how we, or the government, will weather the storm unscathed. Or to be blunt, we can’t weather it unscathed, just hope that matters unfold in a way that is least damaging.

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1. Jim Monaghan - May 11, 2016

Already there has been an effective devaluation of Sterling.Trouble for any company selling into UK and the workers involved. Hence relative advantage in wages etc. Start of race to the bottom devaluations, end of regul;ations etc.

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