The Brexit Brain Drain

Oopsminty That's why governments willing to think ahead and invest/spend will come out ahead of the rest. Germany is the richest economy in Europe and can afford to invest.

It depends to some extent on who becomes Chancellor next year. There are federal elections due in 2021 and Merkel is retiring anyway. However, Germany has been remarkably consistent since 1947, so it would be surprising if there's a massive change in direction.

However not everyone is overly optimistic about life post Covid

You'd be mad to be optimistic about life post covid

It's going to be awful

Particularly if governments continue to believe this nonsense:

Governments see tax revenue falling and welfare expenditure increasing, which will bring budget deficits, higher levels of debt and drive up borrowing costs.

Which is screaming 'austerity'!

They will need to be a bit more creative and realistic with their thinking and to spend money into the real economy (i.e not the financial markets) to keep it ticking over and to encourage growth. The UK could do it because they have a sovereign currency and, TBH, the eurozone could do it too. No need to borrow money, just create it.

growstuff

Oopsminty

Is the EU going to be a great place to settle now? Most countries have had to lay off workers

This virus has changed the world.

Massive unemployment and uncertainty

www.ft.com/content/3b6ba29e-c90a-4b68-a149-4847415d75ac

Germany still has jobs for science, technology and IT specialists and welcomes them with open arms. Frankfurt also has its eye on the business which will go from the City of London.

Maybe there are people who think the UK can afford to lose highly skilled and well paid workers.

That's good news for anyone wishing to head off to Germany

I am not of the opinion that we can afford to lose highly skilled workers at all.

However not everyone is overly optimistic about life post Covid

The latest economic forecasts, presented by the Commission in July, show the economy has taken a hard hit because of the health crisis. As people have stayed at home and entire sectors have abruptly shut down for months, the EU economy is facing the prospect of at least a 8.3% contraction this year, which is significantly worse than the fall in 2009. In May the Commission had said it expected the EU economy to shrink 7.4% in 2020.

Even this bleak forecast might underestimate the actual scale of the recession, as the relaunch of economic activity is gradual and could be easily disrupted by a second wave of the coronavirus.

Everyone is affected: many people fear they might lose their jobs and are unwilling to spend, while businesses are facing disruptions in their supply chains. Governments see tax revenue falling and welfare expenditure increasing, which will bring budget deficits, higher levels of debt and drive up borrowing costs.

www.europarl.europa.eu/news/en/headlines/economy/20200513STO79012/covid-19-the-eu-plan-for-the-economic-recovery

I think the EU will recover faster (from what is going to be a horrendus world wide depression) because it has a big internal market and extensive global markets all with advantageous trade agreements.

Whereas the UK has very little in prospect and a Chancellor making noises about 'austerity' in the future.

Oopsminty

Is the EU going to be a great place to settle now? Most countries have had to lay off workers

This virus has changed the world.

Massive unemployment and uncertainty

www.ft.com/content/3b6ba29e-c90a-4b68-a149-4847415d75ac

Germany still has jobs for science, technology and IT specialists and welcomes them with open arms. Frankfurt also has its eye on the business which will go from the City of London.

Maybe there are people who think the UK can afford to lose highly skilled and well paid workers.

Is the EU going to be a great place to settle now? Most countries have had to lay off workers

This virus has changed the world.

Massive unemployment and uncertainty

www.ft.com/content/3b6ba29e-c90a-4b68-a149-4847415d75ac

And we'll be accused of being unpatriotic! One of my daughters teaches and does research in a university and she told me how research funding was being diverted from UK universities within months of the referendum. Research is international these days, look at the Covid-19 emergence and the collection and sharing of data amongst scientists.
Who wouldn't move for the opportunities.

Nephew and wife actively seeking to go to Germany. Both got good sellable degrees.

Eldest grandson is hoping to go to Europe after getting his electrical engineering degree.

All hate the idea of Brexit.

Lucca

Someone will be along to say something predictable about good riddance..... such a bloody shame, no need.

Nah... they'll be along to say how boring we are and they won, get over it...

I was going to say good luck to them in this uncertain world.

Someone will be along to say something predictable about good riddance..... such a bloody shame, no need.

Before "lockdown", I was doing quite good business in getting people's German up to scratch. Three of them have gone now - all highly skilled scientists or technologists. The UK needs people like them in this brave new world we're facing.

Some of my own family have gone. Two of five families in fact.

Predicted? Nah! It was just Project Fear!

It is a serious concern and was predicted of course. Research and progress in hundreds of fields rely on international cooperation and funding- and British researchers will find themselves excluded, as well as all those who came to the UK because it was at the forefront on said research.

It makes me sick when I hear the brexit liars boasting that the UK will be welcoming the "brightest and best" from all over the world, when they have driven our own "brightest and best" to leave for other EU countries.