Money speaks louder

IF you believe the scaremongers, Brexit would be a disaster for the economy.

So can they explain why, at this time of uncertainty over the referendum, Germany’s stock exchange is desperate for a slice of the London action? Why has scaremongering HSBC abandoned all thought of leaving the City? Why did loans to our firms rise more sharply last month than since 2008?

Why, for that matter, is Airbus pushing more trade our way – and Aston Martin ramping up production in Wales?

True, referendum jitters have brought the pound (and euro) down against the dollar. But even this boosts exporters.

To listen to some big business leaders’ rhetoric, you might think we’re teetering on the edge of a precipice.

But look where they’re putting their money! Their confidence in Britain – in or out – seems rock solid. IN deepest despair, Europe’s border agency chief says nothing can stop at least another million migrants from arriving this year, while Austria warns the EU’s survival is at stake. Meanwhile, the in and out camps quibble over whether Mr Cameron’s footling deal, which merely tinkers with migrant benefits, is ‘legally binding’. Doesn’t migration on this historic scale make the question irrelevant? THESE are words you might not expect in the Mail. But congratulations to the BBC on its even-handed coverage of the referendum debate (so far). Yes, it must be an effort for the Corporation’s staff to suppress their prejudices and be fair to the Brexit camp. But six days into the campaign, they’re doing a grand job. Let’s see if they can keep it up for the next 17 weeks.