France is again the fifth largest world economic power : thank you, perfidious Albion, for your Brexit
By topffer
@topffer (42156)
France
June 28, 2016 9:06am CST
In 2014 UK overtook France as the fifth largest world economic power in terms of GDP.
I read yesterday that France would recover its fifth place in 2017 because of the unavoidable fall of the British GDP after the Brexit.
The fall of the British pound has precipitated the events, and France overtook UK as soon as yesterday : the GDP of France was of 2 181.1 billion Euros in 2015, and the GDP of UK was of 1789 billion pounds=2 468.8 billion Euros for an average pound worth 1.38 Euros in 2015. It was 13% more than France.
With a pound at 1.21 Euros yesterday (and today) the British GDP is worth 2 164.7 billion Euros now and France is again the fifth largest world economic power
. Cock-a-doodle-doo 
!
</end of sarcastic mode, let's be serious>
Well, economically speaking, it is not true, because a GDP is not calculated in real time but on a longer period, and because the exchange rate is not a good indicator. A tourist will find that a baguette of French bread is now cheaper in London than in Paris, but it does not mean that it is more expensive than before the Brexit for an inhabitant of London. However, I decided to post this (a bit) provocative discussion to show to UK members that leaving EU was perhaps not a so good idea
...
I took the data in an article published by the French newspaper "Le Monde" today which is in terms of seriousness the equivalent of "The Times" in UK.
. Cock-a-doodle-doo !
</end of sarcastic mode, let's be serious>
Well, economically speaking, it is not true, because a GDP is not calculated in real time but on a longer period, and because the exchange rate is not a good indicator. A tourist will find that a baguette of French bread is now cheaper in London than in Paris, but it does not mean that it is more expensive than before the Brexit for an inhabitant of London. However, I decided to post this (a bit) provocative discussion to show to UK members that leaving EU was perhaps not a so good idea...
I took the data in an article published by the French newspaper "Le Monde" today which is in terms of seriousness the equivalent of "The Times" in UK.9 people like this
4 responses
@marguicha (215635)
• Chile
28 Jun 16
I have heard that our copper has gone down after the BREXIT.
That is not good for my country and it is not good for me either. The dollar will go up and my chilean pesos will not be able to buy as much when I go for my vacations.
You should invite me to your mansion, @topffer
That is not good for my country and it is not good for me either. The dollar will go up and my chilean pesos will not be able to buy as much when I go for my vacations.
You should invite me to your mansion, @topffer3 people like this
@topffer (42156)
• France
28 Jun 16
Copper has always been speculative, and has quick highs and downs. A decade ago, one of my preferred games on the share market was to buy shares of copper mines low and to sell them high 2 or 3 times a year, and I convinced several friends to do the same
. It is a bit more stable now, but it is still possible with a few mines.
I hope that I will have a floor restored to receive friends next year, and you will be welcomed if you want to visit France
.
. It is a bit more stable now, but it is still possible with a few mines.
I hope that I will have a floor restored to receive friends next year, and you will be welcomed if you want to visit France.2 people like this
@marguicha (215635)
• Chile
28 Jun 16
@topffer I´d love to
. This year I an going to St. Maarten with my youngest daughter and 2 of my grandsons in 10 days. And then, probably, I will go to Brasil with my other daughter and another grandson at the end of the year.
Next year it will be perfect. Specially if copper goes up.
. This year I an going to St. Maarten with my youngest daughter and 2 of my grandsons in 10 days. And then, probably, I will go to Brasil with my other daughter and another grandson at the end of the year.
Next year it will be perfect. Specially if copper goes up.1 person likes this
@topffer (42156)
• France
28 Jun 16
@marguicha I will tell you. I have to sell my previous house first to start the restoration works, but I have good hope to be able to do it in the incoming months.
.
@Mike197602 (15487)
• United Kingdom
28 Jun 16
Things are too uncertain at the moment.
I know the EU doesn't want to lose the business of the UK and we don't want to lose their business.
The best thing all round is to give us a decent trade agreement and just accept many UK people do not want to be dictated to by the EU.
The problem may be is that we get treated badly so as to give an example to other EU countries that may want out.
I've been busy translating publications and I know there are significant numbers in other EU countries that don't like the current set up.
Also the US election will have an impact as republicans in the US have said on record that the UK will be in the front of the que for a trade agreement with the US.
Also we've not even mentioned the cooperation on intelligence matters between the US/UK and the rest of the EU.
We are an important part of the so called 5 eyes and nobody wants to lose our intelligence capabilities.
2 people like this
@topffer (42156)
• France
28 Jun 16
I am pleased to see a UK citizen responding to this discussion
.
I do not see why you would not get a correct trade agreement, but it is obvious that you will not have the same conditions than before, with a very favorable status obtained by Cameron last February. It explains why your money is in difficulty, and having a low pound is not very good : I read that each time it loses 1% you win only 0.12% of market shares. The fall of the pound is probably a warning sufficient enough to dissuade any country in the Euro zone to leave it.
Due to the ambiance between UK and EU actually, a trade agreement between US and UK would probably block the TTIP talks. If I was an US republican I would weight what is the more important : to have a trade agreement with UK or with the Euro Zone which is the first world economic power. I think that Obama talked frankly when he warned you that a trade agreement with UK would not be a priority for USA.
The Five Eyes Intelligence agreement has nothing to do with EU, but you have also bilateral agreements with France, and it would not be good in these times of terrorism if they were not continued. Not sure for Le Touquet agreements though : now that you left EU, many people in France are thinking that it should be your own business to deal with migrants wanting to go in UK.
.
I do not see why you would not get a correct trade agreement, but it is obvious that you will not have the same conditions than before, with a very favorable status obtained by Cameron last February. It explains why your money is in difficulty, and having a low pound is not very good : I read that each time it loses 1% you win only 0.12% of market shares. The fall of the pound is probably a warning sufficient enough to dissuade any country in the Euro zone to leave it.
Due to the ambiance between UK and EU actually, a trade agreement between US and UK would probably block the TTIP talks. If I was an US republican I would weight what is the more important : to have a trade agreement with UK or with the Euro Zone which is the first world economic power. I think that Obama talked frankly when he warned you that a trade agreement with UK would not be a priority for USA.
The Five Eyes Intelligence agreement has nothing to do with EU, but you have also bilateral agreements with France, and it would not be good in these times of terrorism if they were not continued. Not sure for Le Touquet agreements though : now that you left EU, many people in France are thinking that it should be your own business to deal with migrants wanting to go in UK.2 people like this
@topffer (42156)
• France
28 Jun 16
@Mike197602 For Calais, as long as we have an agreement with UK, I think that we have to fulfill it, but our National Commission of Human Rights has warned France last year that this agreement was non compliant to European agreements of Dublin III about refugees. It is only an advisory board, and France has decided to not follow the advice, but it might change. If we put your migrants in one of your ferries, you will have to deal with them, and I do not think that you will fine your own ferries if they have been forced to board these people by the French authorities.
I do not share your opinion about EU and I would like more Europe and less sovereignty, but I will not contest it, except on one point : I think that it would be a very bad move to leave the ECHR, and not worthy of a democracy. The only country who has decided to not follow the decisions of the ECHR in Europe is Russia at the end of last year, for obvious reasons, and I am sure that UK does not share the same values than Putin.
. If we put your migrants in one of your ferries, you will have to deal with them, and I do not think that you will fine your own ferries if they have been forced to board these people by the French authorities.
I do not share your opinion about EU and I would like more Europe and less sovereignty, but I will not contest it, except on one point : I think that it would be a very bad move to leave the ECHR, and not worthy of a democracy. The only country who has decided to not follow the decisions of the ECHR in Europe is Russia at the end of last year, for obvious reasons, and I am sure that UK does not share the same values than Putin.1 person likes this
@Mike197602 (15487)
• United Kingdom
28 Jun 16
@topffer yes I've noticed the thing about moving the 'jungle' to dover.
They'd have to get over here for that to happen and whoever brings them over risks big fines and vehicles being impounded.
My thoughts on the whole brexit thing is I know it may be hard times for us ahead but it's a price worth paying to regain sovereignty.
I know many voted to leave due to the inability to control borders but that wasn't high on my list.
I just want politicians the UK elects and judges in the UK to have final say over our issues.
Also, we pay more in to the EU than we get out...like you and germany and they want to add more poor countries...madness.
I feel staying in the EU would lead to ever more integration and I don't want that.
It isn't as if we are enemies with the rest of the EU, we do share common values.
The range of countries in the EU now is too great, if it was purely economies of similar scale and we had more control over national issues I'd support the EU.
2 people like this
@topffer (42156)
• France
13 Jul 16
Your pensions are based on gold
? I won a bit of money with shares of your gold mines in the past, but I do not invest on gold anymore. The UK pound is down for a long time. As long as they do not close completely their borders, UK will be a good destination for tourism.
? I won a bit of money with shares of your gold mines in the past, but I do not invest on gold anymore. The UK pound is down for a long time. As long as they do not close completely their borders, UK will be a good destination for tourism.1 person likes this
@topffer (42156)
• France
13 Jul 16
@Inlemay You are probably one of the last countries in the world basing pensions on gold. It is a very good security in case of a large economic crisis. We have a share-out pension system here : the younger pays the pensions of the older. It works if the population is not aging too much. It is because of its aging population that Germany has decided to welcome thousands of migrants to preserve its pension system.
. We have a share-out pension system here : the younger pays the pensions of the older. It works if the population is not aging too much. It is because of its aging population that Germany has decided to welcome thousands of migrants to preserve its pension system.1 person likes this
@Shiva49 (26212)
• Singapore
1 Jul 16
It was tough to understand the whole implications involved in the Bexit referendum.
There were wheels within wheels.
Obviously those who voted for it felt Britain was taken advantage of.
Then again there were benefits that Britain enjoyed.
Overall, emotions clouded reason and influenced the final outcome too - siva
1 person likes this
@topffer (42156)
• France
1 Jul 16
There were manipulations on both sides, but the Brexit is mainly a victory of xenophobia encouraged by some media owned by a non British/anti-EU billionaire. There are now several scavengers flying over this "sovereign" country. The UK pound is at less than 1.20 today, and the difference continues to increase between the Euro and the pound.
1 person likes this
