Macroeconomics: UK economy, IB Economics

The UK has reached a trade deal with Norway, Iceland and the might Liechtenstein allowing for tariff-free trade between the countries, and perhaps most importantly, access to sub-Arctic fishing waters.

However, apart from this, it's perhaps most significant as a signal of intent, as the UK looks to forge its post-Brexit future.  

Some people have been promoting the notion of 'the Norway option' as an alternative to Brexit - however, this isn't the risk free option, and this article suggests that it isn't the panacea that it has sometimes been presented as.

I wonder how many fishermen regret voting for Brexit. Probably about as many as regret allowing the industry to be politicised in the run up to Brexit. It might be unfair to point out that believing the words of a serial liar is a silly thing to do but...

However, despite being allowed to believe that the post-Brexit period was going to be a golden age for British fishing the reality is somewhat grimmer, not least because of the failure to agree a fishing deal with Norway, which could see hundreds of crew members losing their jobs. 

Such are the real costs of Brexit - I wonder how many of these fishermen will be spending an alleged £200,000 redecorating their flats? 

Good luck with this, Prime Miinster. 

Just remember that the word "compromise" means a solution that satisfies nobody.