Comments by "peabase" (@peabase) on "Brexit talks: Agreement to "accelerate" negotiations between Brussels and London" video.
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@juliapigworthy You were implying that some EU members will soon follow in the UK's footsteps and leave the union. I argued that it makes precious little sense even for the rebelling ones in East Europe. Not only because the mere process of leaving would prove very costly (the Bank of England can attest), but also, they'd miss out on the Cohesion Fund. Because of your shortsightedness you can't see the benefits, but I consider the Cohesion Fund a sound investment, since East Europe has a lot of growth potential. In the end, we will all benefit -- except for you, that is.
Your "Singapore-on-Thames" scenario is not a credible proposition. In response, the EU members would demand more tariffs and quotas to protect them from what they consider unfair competition. That would jeopardize the UK's financial sector in particular and another wave of Brexodus would follow. Moreover, even a partial dismantling of Britain's welfare system would pave the way for a Labour government, which would quickly turn back the clock. Having lived for fifteen years in Singapore, I know its austere social model is wholly unacceptable to the British electorate.
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