Topic: How To Invest

What is Pat’s commentary for the week of July 5, 2016

Article Excerpt

If you take reactions of EU leaders at face value, it’s easy to assume that the UK Brexit issue will drag down growth for years. EU Council members met last week to discuss the terms of any UK departure from the EU. Donald Tusk, the EU Council president (and former Prime Minister of Poland 2007-2014), said: “There will be no single market a la carte.” In other words, the UK shouldn’t assume it will be able to keep exporting freely to EU member countries, without taking on the associated rigmarole of national EU membership. The statement that came out of that meeting carried a similar message. Among other things, it said that “access to the single market requires acceptance of all four freedoms”—a reference to the EU principles of the free movement of capital, labour, services and goods. UK voter objections to the free movement of labour sparked a lot of support for Brexit. The EU wants more immigrants (particularly Mideast refugees) than…