Brexit news: Top economist uses BRILLIANT analogy to describe Brexit | UK | News


supporting economist Gerard Lyons compared the European Union to the “Titanic” and explained why he thought the UK needed to “jump ship” from the Brussels club.

Mr Lyons used the analogy before outlining the kind of relationship the UK should be seeking with the EU in negotiations.

Speaking exclusively to Express.co.uk, Mr Lyons, co-author of Clean Brexit and Chief Economic Strategist at Netwealth Investments, claimed the euro was “fundamentally flawed”.

He said: “I think the real challenge on the continent is the euro area, which is at the core of the system is fundamentally flawed.

“So when you build anything on shaky foundations that needs to make you naturally worried about it.

“I used the analogy in the referendum of the EU being like the Titanic. It looked big so everyone thinks ‘great let’s be on it’.

“But, like the Titanic, it didn’t change direction. Continued to head into impending problems.

“I argue that the UK needed to jump ship so to speak. We might be in a smaller boat, the initial waters might be choppier, but the brave new world beckoned in the distance.”

Speaking in August, he added: “When you think of the global economy, with the bulk of global growth coming from outside the EU, there are great opportunities, particularly in the fourth industrial revolution for the UK to do well outside the EU.

“The Chequers deal might not be the ideal outcome but I think there are lots of reasons the UK should be positive about the future.

“But, again, my concern about the Chequers deal is not just that there might be further concessions, but that it might start to tie our hands in areas of economic and financial policy.

“The challenge with leaving the EU is that we have been used to a system for so long it does take a while maybe, or at least the near term shock when you leave.

“But, we should remember two years ago we were told if we voted to leave we would see 800,000 jobs lost in the first two years. We have actually seen the labour market do incredibly well.

“Clearly the UK economy needs to remove the uncertainty once we have a new future relationship with the EU then I think we should be more positive about what lies ahead. I think the best outcome would be an enhanced trade agreement along the lines of Canada.”

Prime Minister has vowed to stick by her controversial Brexit plans despite criticism from MPs within her own party.

Former Foreign Secretary Boris Johnson has led the assault on the Prime Minister’s Chequers plan since he resigned from the frontbench in July.

Downing Street has claimed there is no alternative to the Chequers agreement.

The EU’s chief Brexit negotiator has suggested that a Brexit agreement may be getting closer. Michel Barnier told a forum in Slovenia it is “realistic” to expect an exit deal with the UK in six to eight weeks.

The EU chief negotiator said: “I think that if we are realistic we are able to reach an agreement on the first stage of the negotiation, which is the Brexit treaty, within 6 or 8 weeks.”



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