Better off out: German economist predicts bright future for UK but trouble ahead for EU
AS BRITAIN gets set to leave the European Union, German businesses are waiting with baited breath to learn what kind of trading agreement the two will strike in the future. Express.co.uk spoke to leading German economist Professor Thorsten Polleit about how he sees the diverging futures of both parties in the negotiations.
By NICK GUTTERIDGE, BRUSSELS CORRESPONDENT PUBLISHED: 05:00, Mon, Aug 28, 2017
Express.co.uk spoke to Professor Thorsten Polleit
What is your opinion of the EU as it stands now?
Originally the idea of forming the EU, they were trying to set up a community that would secure peace in Europe. It was a liberal or even a libertarian idea to have free trade, a free flow of capital and people across borders and that was a very wise concept.
But over time the EU was no longer pursuing the route of a free trade area but it became increasingly politicised, and the idea was to set up a centralised power structure in Brussels to transfer national sovereignty rights on to the supranational decision making structure.
Over time the EU has become a very different animal. Now the EU policy is about interventionism, they try to interfere in all sorts of economic and social fields to push through all kinds of political concepts and that’s a very dangerous idea.
So how do you think they’ll treat a country, like Britain, that wants to leave?
Sooner or later the free market system is going to be replaced by a system of coercion. This is the problem of the EU and now Great Britain is trying to get out and of course the remaining European interest groups don’t take kindly to this.
You can expect them to do their best to give Britain a hard time to prevent the impression that an exit can be beneficial to a member state. So I can imagine that Brussels tries to give Great Britain a hard time and that includes a protectionist restriction on free trade.
There seems to be a prevailing mood in the EU, and especially Germany, that punishing Britain is the best way to save the all-important Single Market. Is that wise?
They won’t only harm British interests, they will also harm the interest of people in the EU. Because if you interfere and hamper free trade you reduce the material benefits that can be achieved, so it’s a lose-lose strategy which is being pursued in Brussels at this juncture. Germany has very much to lose once free trade is getting restricted vis-a-vis Great Britain.
Do you fear that, if trade is restricted with Britain, it could signal the start of a more protectionist era for the EU?
We would basically open Pandora’s box. Once you start putting restrictions in certain areas, interest groups will start turning up and demanding the same types of interventions in other fields. In the EU, which is highly politicised, [this will happen] sooner or later.
Germany is highly dependent on the demand in other countries, we keep exporting like hell, so German firms have customers in many countries around the world and without these markets economic growth and the employment situation in Germany cannot be sustained, so Germany has a vital interest that there is free trade.
In corporate Germany, most CEOS are very aware that free trade is very important for the wellbeing of the economy.
So what future do you predict for the EU?
It’s the wrong direction they are moving ahead along, there’s not even a kind of plan discernible at the moment. The right thing would be to start decentralising the process and giving back more sovereignty to the member states, but the opposite is happening and that’s a big concern.
The first signs are that the euro currency has failed and it’s only in place because the ECB has dropped interest rates to zero. Under normal conditions it would’ve collapsed already. It can’t compete – it’s a dead end policy.
People in Great Britain have realised that this [the EU] isn’t a concept that will bring prosperity for the current and future generations, so they got out and I think others will follow. It will take some time but the EU in its current form will fall.
What does that mean for Germany? Will the Free Democratic Party entering Angela Merkel’s coalition indicate any change in direction?
It could certainly have a positive impact because they still have a faint idea of the benefits of having free trade, but I’m not sure at the moment we’d really get a major change. The problem at the moment is the German economy is doing reasonably well.
Economic growth isn’t stellar but it’s reasonable, so most Germans don’t really feel the problems that have been building up in the EU and the costs that will come with pursuing the current policy approach in Europe. It’s an illusionary state at the moment.
End of report
From this news article we see that even a German leading Economist believes it is a good thing for Britain to be out of the EU. He also questions where the EU is heading. Well for that Bible Students can help him. What we will continue to see is a developing German-Franco alliance that will lead the EU following BREXIT in fulfillment of Bible Prophecy. The EU will move closer together eventually becoming a SUPERSTATE with a dominant FEDERAL GOVERNMENT described in the Bible as a Beast System due to its amalgamation of different countries and peoples into one State with one Voice. Along with this development we expect to see Russia become more involved in Europe with links to a combined army. Again it’s interesting that they see the development of a EU Army as an important next step.
So WATCH this development as it is a sure sign that we are living in the last days before Christ’s Return.
This EU SUPERSTATE will along with Russia enter into a final conflict with Israel and the Middle East. Germany is the key country in what Bible Prophecy refers to as the land of “Magog”. They are spoken of militarily as the “King of the North”. Together the Bible says that Russia and the EU will invade the Middle East in the Last Days. So Bible Students expect to see Germany and France taking a greater role in leading Europe. It is also interesting to see Germany taking greater control of a continent they tried to take by war and failed.
Yet again we see in Todays News Headlines words that show how the Nations are fulfilling the latter day alignment of Nations as Prophesied by the Bible.
See this article to learn more about this and the latter day prophecies of the Bible.
See this article for more on this subject: WHAT IS NEXT FOR EUROPE
For more great articles see here… http://www.truebibleteaching.com/
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