End up like Norway? Until recently , Norway was a very successful , homogeneous country. It relies heavily on the oil industry and as such its financial outlook has deteriorated somewhat. But oil prices are volatile (and over the long term WILL trend higher) Norway also has the ability to diversify its economy , with fishing and tech being obvious areas for an affluent and hard working culture to benefit from. It has a state oil fund to see it through periods of low growth and it also maintains control of its monetary system (much as the UK has done)
If Norway or the UK struggles in the future , it will absolutely not be because they are not apart of the single currency or EU. Any prolonged downturn in UK or Norway will be felt far more acutely in Continental Europe , because it would portend to a wider , global downturn.
Norway and hopefully the UK , are models to follow. Not the 50% youth unemployment rates seen throughout the PIGS. And you can soon add France to that acronym.
The EU is fucked without UK , not the other way around , and that is why there is so much gnashing of teeth from the eurocrats.
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06-27-2016, 11:08 AM
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