Why will we have a massive recession Mark?
I think you are again missing the point being made that the € is being very artificially maintained in a way that is clearly irresponsible and dangerous. When it goes tits up (not if) the £ will likely be seen as a far safer Currency and many will be buying it. Possibly gold but there is unlikely to be much left in it by then as Wattie will have bought it all up! I can see that it won’t do much against the $ but that is being manipulated elsewhere anyway.
Because we will have no trade agreements in place. Zero.
All this WTO ******** is exactly that. ********. No one uses the WTO.
Then you have the crashing pound. With the pound worth less, everything will cost more. As the UK are a net importer most of what we buy will go up in cost.
"But UK products will be cheaper so people will buy more of them"
But the raw material we use in those products come from outside the UK, so our products will actually cost more to make, which means margins will shrink which means prices will go up and we will be uncompetitive.
"But that's ok" I hear you say "will will just use countries to supply us who are outside of the EU".
Great except for we will then have to do new trade deals with them as all previous trade deals with those countries will be deals done as part of the EU. Not the Uk as a single nation.
All this takes time. And as we all know. Time is money.
It's not rocket science.
This is what has been said by the worlds economists who have warned against a no deal Brexit at all costs.