A deal that suits the French economy

British Prime Minister Boris Johnson during a press conference where he announced that an agreement on Brexit was reached on 24 December 2020 in London (Great Britain). (Paul Grover / Pool)

It is not a question of enjoying bliss and we are not going to align the figures, even if they are encouraging. Yes, this agreement is good for France. The UK is a big partner for us. It is quite a simple country with which we get our first trade surplus in Europe. We export more than imports: 12 billion euros each year, mainly agri-food products. 150,000 French companies, most of which are SMEs, do opposite business with our neighbors. Having said that, the agreement must be validated by European authorities in January: 2,000 pages in total, with paragraphs and asterisks that many imagine.

Fishing is a sensitive area. Follow very closely. French fishermen pay attention to the agreement and await details. But as 80% of the United Kingdom’s trade flows through France with the continent, London has every interest in continuing a cordial agreement with Paris. We are its gateway to Europe. Finally, this agreement will save us from loss of earnings, which was estimated at 0.4% of GDP (national wealth of France) in the event of “no deal”. This represents a large ten billion euro that will not be lost.

According to economist Christian Saint-एटtienne, vaccination against Kovid-19 which will accelerate in the coming months, the arrival of spring with milder temperatures favorable to the virus, and this trade agreement with the United Kingdom, combined all these elements, Recovery should be boosted in the second and third quarter of the coming year: In summary: mass vaccination to erase Kovid and full application of trade agreements. Two apparently distant elements may eventually allow a recovery in the spring. The appointment is made.

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About the Author: Forrest Morton

Organizer. Zombie aficionado. Wannabe reader. Passionate writer. Twitter lover. Music scholar. Web expert.

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