Brexit_ philip hammond issues threat to eu partners – welt

Welt am Sonntag: The message we hear here, on the European continent, is that the two countries that traditionally were the leading champions of capitalism and free trade now turn their back to the world.

Hammond: I would reject that emphatically. Decimal currency in britain I can’t speak for what is going on in the U.S., that is a different political movement. Great britain pound currency But in my judgement it would be a mistake to read the Brexit vote as being part of the same strand of thinking that has formed in the US. Currency in england converter If you look at the media and the reporting during the Brexit referendum campaign, there was no anti-trade rhetoric. Currency of britain It was the exact opposite. Great britain currency denominations The people who campaigned to leave, campaigned on a platform to build free trade agreements with China, with India, with the U.S., with Japan, with other countries around the world. What currency does england use If I present this emotionally rather than politically, the leaders need to respect the British people’s sense that our history and our destiny is an engagement with the wider world and not just with the European continent; that historically we have never been a nation that was focused on continental Europe. Great britain currency code We have been a nation that has been focused beyond that, to the wider world.

Hammond: It is a different relationship.


Great britain money currency Historically, the U.S. Currency exchange great britain is a security partner and we have a very, very strong security and intelligence relationship with the United States. Currency gbp chf Our relationship with the European Union is more important in scale economically than our relationship with the United States, but we don’t have the same kind of security partnership with the European Union.

Welt am Sonntag: The impression on the European continent is also that your government sees the future business model of the U.K. What currency does britain use as being the tax haven of Europe. Currency in great britain The government wants to introduce the lowest corporate tax rate among all industrialized countries.

Hammond: We are now objectively a European-style economy. Great britain currency to usd We are on the U.S. Currency system introduced in britain in 1971 end of the European spectrum, but we do have an open-market economy with a social model that is recognizably the European social model that is recognizably in the mainstream of European norms, not U.S. Currency of great britain norms. What is the currency of great britain And most of us who had voted Remain would like the U.K. Great britain currency symbol to remain a recognizably European-style economy with European-style taxation systems, European-style regulation systems etcetera. What currency does uk use I personally hope we will be able to remain in the mainstream of European economic and social thinking. Currency of london england But if we are forced to be something different, then we will have to become something different.

Hammond: Economic circumstances. Currency of england in pakistan If we have no access to the European market, if we are closed off, if Britain were to leave the European Union without an agreement on market access, then we could suffer from economic damage at least in the short-term. What currency is used in britain In this case, we could be forced to change our economic model and we will have to change our model to regain competitiveness. Currency for britain And you can be sure we will do whatever we have to do. What is the currency of britain The British people are not going to lie down and say, too bad, we’ve been wounded. What currency does england use 2013 We will change our model, and we will come back, and we will be competitively engaged.

Welt am Sonntag: In Britain’s future relationship with the EU, you want to stick to the free movement of goods and services but restrict the free movement of people. The currency of britain That’s cherry-picking, isn’t it?

Hammond: We aim for a new arrangement on a reciprocal basis. Great britain currency name I think Mercedes-Benz, and BMW and Volkswagen would also like to sell their cars in the U.K. Currency used in britain market without paying tariffs. What does england use for currency I don’t call that cherry-picking. Great britain currency exchange rate Is it cherry-picking when South Korea does a trade deal with the European Union, is it cherry-picking when Canada does a trade deal with the European Union? We should be able to reach an arrangement to allow, on a reciprocal basis, access to each other’s markets without the political integration that membership of the EU has come to imply.

Hammond: We are going to serve the notice in spring. Best uk currency exchange We would expect that we start with substantive negotiations with the EU before the summer. The currency of great britain The treaty is clear that the negotiation of an exit agreement has to take account of the future relationship between the parties. Currency gbp vs euro To do that we have to talk about the future relationship. Great britain currency to us dollar So we would expect that we would discuss the topics in parallel.

Hammond: We are ambitious to do this as quickly as possible. Currency rate of great britain pound Uncertainty is damaging for business on all sides. Currency great britain We would like to get as much clarity as we can as early as we can. What currency does the uk use And we would hope that we could move quickly to an understanding about what the future arrangement could be and we could move seamlessly to it in 2019. Currency in london england But I’ve already mentioned the possibility that there will a time period between Britain leaving the EU and the full introduction of a long-term future arrangement between the U.K. Great britain currency and the EU. Great britain currency news And in such a case we would have to decide what happens in the period between leaving the EU and the commencement of such an agreement in the interim period.

Welt am Sonntag: How optimistic are you to get a good deal for Britain’s key industries, such as cars, pharmaceuticals and financial services?

Hammond: We are optimistic that we will be able to reach an agreement that gives reciprocal access to each other’s markets. What currency is used in great britain The logic is there. Currency of england pound We have complex pan-European supply chains, we have many European businesses with very important operations in the UK with large sales in the UK. Currency britain Germany’s largest bank has a large operation in London, and I would assume that it would like to continue that operation, so there’s lots of economic logic. Currency gbp pln I acknowledge that there are political red lines on both sides as we navigate this process. Great britain currency rate And I think the right way to do this is to be open with each other about the political challenges and to recognize the political red lines on both sides, and not to fight those red lines but to explore together whether there is a space in between the red lines where we can find an economically beneficial solution which delivers benefits to both sides. Great britain currency converter Neither the UK nor the EU is so strong economically, which such strong growth, such strong employment, that we can ignore the risks and the opportunities. Currency gbp usd And we have to try to make the best deal we can, to support economic growth on both sides of the channel.

Welt am Sonntag: At least in Germany, many people still hope that the Brits might come to their senses and in the end decide not to leave the EU.

Hammond: This is not going to happen. What is the official currency of great britain Those of us, like me, who campaigned to remain in the EU and to try to reform it from the inside, have moved on. Currency great britain pound To be very honest, since the referendum we have seen on the European side movement away from the UK positions, suggesting that the underlying driver on the European side is still for more political integration, for a defence component to the European Union, the things that are anathema to the UK. What currency does england use 2012 So the vast majority of people, like me, who campaigned to remain have now refocused on campaigning to get the right kind of Brexit and the right kind of future arrangement, so we remain close to the EU, working closely with the EU, but being outside of the construct of the EU.

Hammond: My guess is that without Britain as a member, the European Union will move in a direction that will make it less attractive to people in the UK, because there is a mood for further political integration, I sense, and there is, and never has been, no appetite in the UK to that. What does england use as currency There is a tension there that has become greater as the EU has taken further steps of integration. What is the currency in britain Also, we do want the Euro to be successful, but we recognize – and have recognized for some time – that the reality of the Euro means that more political integration will be needed to maintain the success of the new currency, and that is not something the British people would be supportive of – even British people who have been generally been supportive of EU membership.