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Remoaners whining about no-deal Brexit put in their place by someone who REALLY knows

FORMER WTO boss Pascal Lamy insisted that trading under WTO rules would “not be hell” for Britain, despite Remoaner claims that the UK economy would suffer.

Former Director General of the World Trade Organisation (WTO) Pascal Lamy slammed claims that trading under WTO rules would be “hell” for Britain.Mr Lamy, who is a former EU Commissioner for Trade, explained there are three different leagues of trade and Britain is currently benefiting from the best option being in the .

Mr Lamy said the first league would be the EU internal market where there is no border and no tariff. But in leaving the EU, Britain must join the second or third league.

The second league is a bilateral trade agreement with two countries where they have a border but no tariff. A third league would be a WTO regime, which Mr Lamy said “nearly all countries on this planet have” and it involves a border and a tariff.

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Pascal Lamy said that trading under WTO would be Britain’s worst option but it would not be hell


Mr Lamy told Express.co.uk: “If you had to leave with WTO rules, same difference as the one between first league and third league.“It’s not apocalyptic, it’s not hell.

“In football or in rugby or in cricket, a number of clubs are in third league. They simply are not as good as if they were in second league.

“The second league is not as good as if they were in first league.

“Again, nothing apocalyptic but trade is more difficult than in second league and more difficult than in first league.”But Mr Lamy warned that a bilateral trade agreement with the European Union would be a “very complex” negotiation.

He warned that between the status of Brexit talks now and implementing the final regime it could take up to ten years to complete Britain’s exit from the bloc.

Mr Lamy said: “I don’t think a future EU-UK trade regime can be negotiated in 12 months. It’s horribly complex.

“You cannot do that overnight. Businesses and economic corporations need time to adjust.”

Mr Lamy said that you can agree on the principles of a trade regime in 12 months but you cannot do anymore.

Prime Minister Theresa May warned in October that Britain was preparing for the possibility of a “no deal” scenario, which would mean that Britain would move on to trade solely under WTO rules.

https://www.express.co.uk/news/uk/876530/Brexit-News-EU-News-UK-World-Trade-Organisation-Brexit-Latest-Theresa-May-WTO

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