Brexit

[palou]

Victorlink87 said:

JRPGfan said:

It hasnt happend yet..... the UK leaves the EU on march 29th (I thinki it was).

Its looking like the UK are makeing a mess of things, and will have no deals in place for that day.

Reguardless of laws/trade deals ect, it kicks in on the 29th, and it looks like the uk, wants to put on a blindfold and jump off a cliff.

What are the concerns surrounding not having a deal and why did the previous proposal fail? 

The EU is by far the largest trade partner of the UK. A no-deal brexit would mean, that there would be an immediate implementation of tariffs (as dictated by the WTO between two members without other agreements) and border checks. If having tariffs/border checks is viewed as a positive or negative is a debate I won't touch, but the fact that it is so *sudden* in itself creates significant logistic issues, since the existing infrastructure doesn't assume any such barriers (which various sectors of the government and private enterprises are trying to prepare for - we'll see how effective it is.) For example, a big part of UK medical supplies come from the EU - the UK national health service is consequently prepping for a temporary shortage. (I would assume they would have a fair handle of what's necessary - I wouldn't expect people to die due to this.) The majority of the food in the UK comes from the EU; Again, probably no starvations in Britain, no need to be melodramatic; but a significant price hike, in the transition, is very possible. As a whole, it's mostly going to be a very *expensive* procedure, for both governments, and the private sector, needing to make immediate adjustments to the market situation.