From watching the European ministers press conference yesterday, my understanding was that, against common sense, the UK had to leave the EU and all of its associated institutions before we could start trade negotiations. The ramifications of that are that the European legal system and restrictions will apply against all British companies operating in Europe for the period between leaving the EU and completing negotiations. During this period Easyjet and British crew will suffer. The Easyjet operation in Milan will have to close for a period. Probably the re-opening will be under the 51% ownership rules. This would mean corporate taxes would be paid outside the UK. This will apply to many different companies I think the British treasury will have a large shortfall in revenue. Interest rates that the UK pays on its national debt are also going up as credit ratings are cut. The UK will not keep its place as the 5th Biggest economy in the World.