And thus we arrive at the most important (and inevitable) of all deflationary trends: demographic change. Retired people tend to consume less than their working age compatriots – thus putting downward pressure on demand as the population ages.
British politicians are more than capable of committing blunders, but so too are their continental opposite numbers.
The Government could dangle before the EU another gain it wants in order to win a revised Protocol.
Whether writing, speaking or negotiating, he puts on a performance which the spectators enjoy all the more because it horrifies the guardians of convention.
If no good deal comes and No Deal happens, the option of a return to EU membership is no longer on the table.
Neither Trump, Merkel nor the EU institutions are showing the global leadership necessary. Over to a joint ticket of the Prime Minister and Macron.
Nation states can act decisively when they wish to do so: the EU seems paralysed.
We have, in effect, a national bar that takes the power to out of the hands of local people and leaves it with Sir Humphrey.
The true believer whose appointment to represent the European Parliament in the Brexit negotiations is “an act of war”.