The 23rd June, 2016, is a historic date in the development of the EU: it is the day on which the British voted for Brexit. Our politicians still believe that all good things in the world come as a result of their actions. However, the economic reality is that our success in trade depends far more on fundamental factors such as ‘comparative advantage’, and whether we design and make things that others want to buy, than on politician’s bureaucratic schemes.
In April 2014, many TV and radio broadcasts and publications in the media informed us that Greece had recovered. We must admit that the elite of the EU, IMF and ECB put considerable effort in the media to mislead European citizens that the Greek economy was improving. Why do they take Greece as example?
“Politicians keep throwing money to support weaker nations’ debt problems, they never talk about restoring growth”The above statement comes from Roger Bootle in Fortune Magazine, dated 8th October, 2012. Why should we listen to him, you may ask, as we read so much from so many economists, daily, about the problems across Europe? For two main reasons: Roger Bootle predicted the downturn of the 2002 dotcom bubble back in 1999, and the worldwide financial crash in 2007 back in 2003!