Most Americans have NO idea what the term “Brexit” means….to most it is a reality show with some pasty face hillybilly with an eating disorder…..it is the movement for Britain to leave the EU…..simple huh?
In Britain these days, it’s all about “Leave” vs. “Remain.” Those are the two choices voters will have in a June 23 referendum on whether the UK should exit the European Union—or Brexit, as it’s known in shorthand. Some coverage:
Rupert Murdoch’s Sun tabloid just came out in favor of leaving the EU, and it urges readers to vote for Brexit here.
A political professor now puts the odds of leaving at 33%, up from 25% less than a month ago. Bloomberg assesses.
Along those lines, a major bookmaker predicts the Leave camp will become the majority by this weekend, per Business Insider.
Yes, the Leave camp has momentum, but the Financial Times explains why it’s not time for David Cameron and the rest of the Remain backers to panic.
The Telegraph looks at six factors, including the often-overlooked group of voters in Northern Ireland, most of whom seem to want to stay in the EU.
Still, US markets are starting to get worried about the ramifications of a Leave vote winning, reports CNNMoney. Global markets, too, notes the Wall Street Journal.
The New York Times covers the broad strokes of the opposing sides’ views in a basic primer here.
Another Times story looks at the huge ramifications for foreign workers in Britain if Brexit prevails.
This movement could push other countries to beat feet from the EU…..
The U.K. may not be the only one mulling its future in the European Union (EU). In fact, the fierce debates and headline-grabbing warnings surrounding the Brexit vote in June have given hope to euroskeptics around Europe.
Denmark, the Czech Republic and Poland could face their own referendums on EU membership if the U.K. votes to leave, experts believe.
“The main concern is that an unexpected exit of the U.K. from the EU could lead to similar initiatives in other member states, making Brexit the first step towards the disintegration of the union,” Antonio Barroso, senior vice-president of political risk consultancy, Teneo Intelligence, said in a report this week.
(CNBC)
If the EU starts breaking up it would effect everyone…thanx mainly to globalization….and that includes the US…..
The countries with the highest exposure to British capital will suffer most. These countries are the Netherlands, Belgium, Ireland, Luxembourg, Cyprus, Portugal and Greece. France and Poland are also exposed to Brexit in specific areas. Germany will suffer too. Poland, in particular, is most exposed through migration and the EU budget.
Just to give some facts: Dutch firms have direct investments worth £180 billion in the UK, earning over £9billion in 2013, which is equivalent to 1.5% of Dutch GDP. Germany has a trade surplus with the UK of over £28 billion. German manufacturers alone export £50 billion to the UK, or 2.4% of GDP. Just imagine what is going to happen to German industry if a new Britain, outside the EU, pursues an import-substitution, protectionist policy. This means that all Japanese and German producers will have to abandon their British factories, with Britain re-building its own car industry and steadily adopting a new industrial policy, moving away from financialisation/globalisation.
A new industrial society will be created and services will cease to be the backbone of the economy. There are almost 750,000 Poles living in the UK. This is the single biggest group of foreign nationals. Their remittances sent back to Poland amount to over £1.1 billion each year. This is a significant boost for the Polish economy.
So the question is….who will benefit from the exit from the EU?
Will “Brexit” become a rolling stone and take the whole of the EU with it on the way out of the door?
Reblogged this on The Militant Negro™.
Will “Brexit” become a rolling stone and take the whole of the EU with it on the way out of the door?
Yes,that is the point….and it takes an intelligent/informed person to realize that whether we stay in or out…the economy will continue to suffer,because of their ‘austerity policy’..personally,I would rather vote out and suffer than be ruled over by a bunch of fat suited authoritarian thechnocraps…and so would a lot of people in Europe! The ‘elites’ are scared….good.
At least that way…we maintain our self respect….however,after yesterday’s fiasco….which we were warned about…
“I’ll not be surprised if there’s a big, noisy security/terror scare just pre-referendum that’s best dealt with by the UK being in the #EU.” that was said by someone who is covering Bilderburg…
I am beginning to wonder….just what is going on..
good post chuq..
ps……Greece suffer?
I doubt that if it can suffer anymore than it is….. being mortgaged to the hilt by guess who?
Here is a ‘rude sign’ to globalization ttp nafta and other nefarious trade deals …’If the EU was to complete all its current free trade talks tomorrow, it could add 2.2% to the EU’s GDP or €275 billion’ I do not doubt who will benefit……it won’t be the people….. most of them have fled their own homeland because unemployment is through the roof in their own countries……we have these people here and do our best to accommodate them..
Thanx glad you like it and thanx for the heads up on the situation….chuq
The number of rough sleepers in England is rising at an ‘unprecedented’ rate http://www.independent.co.uk/news/uk/home-news/homelessness-number-of-rough-sleepers-in-england-rises-at-unprecedented-rate-a6895826.html
Ya know chuq I get so angry about this…..it is not necessary in a so called modern society….
a lot of Poles are homeless as well….
I agree….there should be no homelessness in a modern society….
You know I am Dutch and I hope that Great-Brittan comes to its senses.
The Netherlands will suffer economicly when they leave the EU.
As I am pro-EU, in a small country as The Netherlands, living in a province that is surrounde by the borders of Germany and Belgium, it is just comon sense to be pro-EU.
We were with Belgium and Luxemburg at the cradle of the EU; the BENELUX.
One point I agree with those that are against the EU. It is very important that it should be a lot more democratically organised as it is today.
Thanx for your input….I am trying to get Americans to realize that it does matter in the long to this country as well…
We need to get some of that debt from world war II repaid.
Hahaha…sorry but hopefully you were being humorous…if not then I apologize.
The lack of certainty that the impending vote is providing is depressing my investment portfolio! Get on with the vote so we can all move on I say!
Thanx for the visit….
No problem. Whilst at one level brexit is a land grab for the power hungry and therefore something to be ignored, I think it will affect most of us in some capacity
I don’t give a crap about a “Brexit”. It’s a cutesy, puke-inspiring, term that diminishes a very important topic to the level of a celeb-gossip website inventing a name for a “celebrity couple” that I don’t (and nobody else should) give a shit about.
However, I do care about Britain possibly leaving the EU. Even though I’ve been reading up on it, I’m still on the fence. And me being on the fence about something important is about as rare as Congress passing, not just any Bill, but a Bill that’s actually good for America.
Something about this whole thing really sets off my Sedate Me Sense. It’s a clusterfuck of issues; politics, political fantasies, economics, racism, conspiracies and numerous Pandora’s boxes. Other than racist-nationalists, there doesn’t seem to the kind of unity of opinion within parties/groups most issues have. But to me, this reeks of a lose-lose scenario. In a way, it resembles the choice Americans have to make this fall. More of the 3rd rate shit you know and don’t like versus the building of walls, deportations and God knows what the fuck else is going to happen.
Normally, I’d be in all favour of ending any Free Trade deal. But the EU ain’t just any Free Trade deal. It’s got (relative) economic peers operating under a political framework with rights & standards. This is unheard of in North America! Our deals are about bigger nations subjugating smaller nations. But they’re primarily about corporations dodging ALL rules, regulations, standards & taxes…and superseding government altogether. For what it’s worth, the Euro-Zone is as good as Free Trade Zones get. (And passport-free travel to boot!)
And government’s role is where my suspicion begins. Why is Conservative David Cameron “against” leaving but allowing the vote to take place? Why has he already negotiated terms of staying that, among other things moving Britain further out of the EU orbit, includes a “London Exemption” for the 1% crowd? Suspicious stuff for a guy officially wanting to stay in the EU. While less weaselly than Tony Blair, I wouldn’t trust that guy with a bag of my dog’s shit.
I smell a Trojan Horse. I smell a cabal intent on destroying the EU, which Britain leaving right now might trigger. With an Out vote, the Out-ers will cheer, thinking they’ve won a more democratic & localized control of their affairs. Meanwhile, Cameron’s minority-Majority rams through North American style Trade Deals with no rights, regulations, or political controls. And if the EU collapses, you’ll probably see the EU re-form under a standard-free umbrella where corporations operate increasingly outside of government control.
And no matter what you think of the EU, that would be far worse. I’d be too paranoid to vote “Out” and hearing Rupert Murdoch wants Out makes me lean toward “Stay” all on its own.