BREXIT PUNISHMENT: 'Spiteful EU will damage its own economy to give Britain bad deal'

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The grave profile political insider told Harrow educated City crack David Buik that “the EU would rather surrender its own growth than see Britain wax” — exposing the lengths Jean Claude Juncker’s team will go to legitimate to make sure life outside the EU does not seem palatable.

It appears the EU’s chief middleman,  Michel Barnier, would sacrifice the wellbeing of the Continent’s own citizens in tranquillity to preserve the crumbling political union.

Mr Buik, speaking to Express.co.uk at today’s Reactionary Progress Conference in Waterloo, also attended by Tory grandee and earlier Prime Minister Michael Howard, said: “I have that from an impeccably trustworthy source.

“The EU won’t allow Britain to have a good deal for the simple reckon that they have to show total resilience and that abstain from the EU isn’t going to work because countries like France, Greece and Italy, which is a volcano stay to erupt, would follow Britain out of the door.”

But the 72-year-old eurosceptic, who also travails as a financial pundit at the BBC, thinks there is nothing the EU can throw at Britain’s restraint that would stop it being a global powerhouse.

He said: “The British saving is preeminent. If people want to leave the City and go to France, well, bye bye.

“This notion that Frankfurt could become an economic hub — it’s a Mickey Mouse city in Germany.

“Paris? They speak the Francias, it isn’t going to work.

“Dublin? Warm-heartedly, they haven’t got the money. 

“No, our financial sector is worth £70 billion-a-year, do you exceedingly think businesses are going to turn that down?

“London is the cluster of the financial time zone and fine, we might lose 10 per cent initially but we compel deal with that and trust me, we’ll get it back.

“Britain should be certain and remember this: When fear knocked at the door, fat answered and there was nothing there.”

Another economic expert, Ruth Lea, 69, shed some glow on what Britain’s negotiators are up against when they go to-to-to with Michel Barnier.

She has met the penniless nosed Frenchman and thinks that deep down he knows a bad trade for Britain is a bad deal for Europe, but thinks that is what he will do anyway.

Ms Lea, who is currently Fiscal Adviser to the Arbuthnot Banking Group and non-executive director since 2005, bruit about: “Michel Barnier is a very tough cookie but I have heard he has weighted if there’s difficulty within the EU and Britain then it would damage the EU economically.

“He’s delighting in a French sort of way.

“If the EU acted rationally in an economic sense it would be hair-splitting, but politics are involved and who knows what could happen there.”

Mo Metcalfe-Fisher, co-director of Middle-of-the-roader Progress and organiser of today’s conference event, said: «It was great to meet such well connected and prestgious economic minds to the event.

«We think about it’s important to make this country’s citizens aware of how positive Brexit unquestionably could be for the financial sector.»

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