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In my scenario the EU won't have closed any borders, merely charged a 20% importation tax on all UK produce. The problem for Gibraltarians will be that their Sterling has lost a lot of purchasing power, although many may not notice if they are earning Euros in Spain.

I'm not actually hypothesising that the EU does anything very extreme or unreasonable. The 20% tariff on UK exports will be to prevent UK exporters gaining an advantage through Sterling devaluation, and to fund measure to protect EU exporters to the UK form the effects of UK tariffs and the reduced value of Sterling.

Otherwise all is sweetness and light. Smiles as Britons cross the border into the EU unhindered. An efficient online documentation barcode enabled system to process incoming goods and collect tariffs due. UK exports don't add much more than 5-10% to imports from the rest of the world in any case, so the systems are already in place and require only marginal upgrade.

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by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Mon Oct 12th, 2020 at 11:52:29 PM EST
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