Depending whose figures you use our exports to the EU are 45%-50% of our total exports. In comparison Germany's exports to the UK are ~ 7% of their exports and France is similar, even for Ireland it's only 12%. You're right that the EU exports a lot to us but if that ceased the pain would be spread across a lot of countries across a GDP something like 7 or 8 times larger.Colburn_Claret wrote:As a percentage of trade we do send more to europe than they do to us. BUT as to the amount we trade between each other, they still export more to us, than we do to them. The deficit is in our favour.
They could day we wont trade with you, but this is the real world. Some of those countries in Europe, in fact none of them, can afford to lose that trade. The german and french car industries would be scuppered. We can always do a private deal with Korea or Japan to import their cars. I'm not saying that is what will happen, just an example of what could happen if either side decided to be stubborn.
The EU is propped up by Germany, France and us. If we leave with no deal , and take our 39 billion with us, those 2 countries have to fill the hole. They cant afford it, and their voters would have a fit if they even tried.
It is a mess, but people who pretend we are jumping off a cliff, or that the EU could just absorb the loss of trade and money are either lying or bullshitting.
I don't deny that it would be very damaging to them but it would be much more damaging to the UK and certainly wouldn't put us in a position of strength for negotiating a better deal than we have at the moment.