We had been led to believe that Britain would go into economic meltdown if it voted to leave the European Union. It appeared that Britain´s economic well-being was based on being a member of the EU. But two months after the referendum and the British economy appears to be in relatively good shape. In fact, unemployment fell in July. It is early days and the negotiations haven´t even started yet, but the talk of a premature demise of the British economy appears to be have been just that - premature. There are many important challenges ahead but so far the Good Ship Great Britain is steady as she goes.

The British ambassador to Spain, Simon Manley, told the Bulletin last week that he had contacted the CEOs of all the Spanish companies which had invested in Britain after the referendum result. They all agreed that it would not stop them doing business in Britain. So perhaps the European Union Stay Camp got it all wrong.

There is a danger that the British economy could contract and that the weaker pound may be bad news for Britons bound on holiday to Majorca, but it is fantastic for British exporters. So, at least for the time being, it is a question of Keep Calm and Carry On. As regular readers of this space will have realised I still believe that Britain should stay in the EU. But at the moment it appears that nothing has changed.

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Simon Tow / Hace over 5 years

OK you win.

Pretty weak spelling on my behalf.

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Sara / Hace over 5 years

Exactly, week's is correct. But you twice wrote weeks! I was correcting that. ;-)

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Simon Tow / Hace over 5 years

Sorry, no prize for that one.

I think you will find that "week's" is correct, but I will let out more scholarly readers pass judgement on that one.

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Sara / Hace over 5 years

week's ;-)

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Simon Tow / Hace over 5 years

Hi Sara,

The DB editorial staff sometimes ask me to make obvious mistakes to see whether their readers are paying attention and have got their wits about them.

Congratulations, you have won this weeks prize.

Next week´s prize will be bigger than this weeks.

Simon

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Sara / Hace over 5 years

"The UK is too bigger market to lose"? LOL! Where did you learn your English Simon?!

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Simon Tow / Hace over 5 years

Ron,

They may have to import components, but the important question is how many of these components are part of the finished product ?

You are automatically presupposing that component manufacurers will not drop their prices to maintain sales. The UK is too bigger market to lose.

Apple and ZARA to name just two, manufacture most, if not all of their goods abroad and still make excellent profits, even after having to deal with fluctuating exchange rates.

And finally, who is going to guarantee that the Euro doesn´t collapse when the real truth about the economies of Italy, Greece, Spain and France begin to appear.

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S. / Hace over 5 years

Nothing will change for all the Countries and businesses that deal with Great Britain. The 'REMAIN' campaign was flawed with scaremongering, which is why Cameron got out.( Because he wanted out, saying he did not want another term of office.) The Banks and economic organisations that control, and affect the Euro exchange rate, have OVER REACTED as usual. Their over reaction, causing the reduction in the euro rates, is becoming a serious concern to Tourism throughout Europe. The rate will gradually recover, as very serious political pressure will be applied, on the Financial organisations and Markets;- Where Countries are now beginning to feel the effects, of a larger reduction in revenue, from their Tourists.

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Ron Burgundy / Hace over 5 years

How on earth can the exchange rate be good for exporters when the CBI has published data showing that the vast majority of them have to import components for the goods they produce.

Components which, of course, are now 20% more expensive.

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