The attitude of the Europeans seems to be that they won't allow their market to be flooded by cheap British imports (the irony!) so British exporters will be told they have to pay an import tarriff to remove any advantage from a weak pound and they are going to shove it to the Brits "when you come begging for a deal cap in hand".bwfc1874 wrote:From what I've been reading from European leaders in recent weeks, they'll be looking to take a very tough stance on Brexit.
Most of all they can't seem to believe that the PM has been naive enough to spell out what the UK wants and when the UK needs it by before the negotiations have even begun. It's like playing poker with a blind man who has his cards in full sight but can't see his opponents cards. Dutch guy I spoke to on Tuesday reckoned the EU can now just stall negotiations until the UK is so desperate we'll take anything we're given and that Hammond has already started to try to explain away the damage by telling us to expect a rough ride, knowing full well we are at the mercy of Europe now.
Personally, I don't know how it will turn out but I have to agree that it looks like the EU has Theresa May's Government by the metaphorical balls at this stage.
Really doesn't help when the Chancellor bases an economic strategy on future exports without even knowing if there will be any profit in exporting after an increase in raw material costs and a trade tariff. Not that he cares having made a commitment to borrow his way out of trouble regardless of how much we are shafted.