The Governor of the Bank of England, Mark Carney, tells us that Brexit risks are now lower. He also tells us that other European countries may lose more than us from a hard Brexit.
Well, Mr Carney doesn’t have to be believed, but it is an obvious question to ask how much bargaining power do we really have? Europe sells more to us than we do to them, and it is normally the seller who needs to make the adjustments in the event of any dispute, the customer being always right. Of course, European politicians may well just shoot themselves in the foot for the sake of ideology, but maybe Theresa May’s apparent procrastination over Brexit is after all very clever. Maybe all those court cases in the offing, which threaten to delay matters, are being started by friends of the British Government, just looking at matters objectively. It would be nice to know.