Thursday, June 23, 2016

Brexit Strategy

Britons head to the polls today to decide if they want to remain a part of the floundering European Union.  Polls have shown the "remain" and "leave" camps running neck and neck for the past few weeks and both sides have taken to scare tactics to try and drive their support.

Those on the Left claim economic ruin will befall the British Isles if they leave the EU.  "No one will want to trade with us", "prices will skyrocket" and "what's left of British industry will collapse" are some of the arguments they have been making.  Those on the Right claim Britain "will be overrun with terrorists and Muslim immigrants looking to kill innocent people and to live on the dole".  Not to be confused with the millions of Britons who already get by almost exclusively on public programs.

Britain has always been only "half in" on the EU.  They abide by the trade and immigration policies set by the Continent--but they never got rid of their own currency and fully adopted the Euro.  And that has been key to their continued financial solvency--they were able to print more money when times got tough.  Of course, their national debt is now better than 90-percent of gross national product--but that pales in comparison to Greece--which adopted the Euro and had to beg its EU "friends" for more cash--and their 175% debt to GDP ratio.

As with all of the countries considering a departure from (or who are looking to join) the EU this is really just a question of "home rule".  Is expediency in trade and travel across borders worth giving up the level of control you may want (or need) on those same issues?  Who really decides what is right and best for those in the UK--elected representatives in London or bureaucrats in Brussels?

Considering that Europe really doesn't have the tradition of elected representation that we here in the US have (and their reliance on Big Government to "take care of you"), "stay" will likely eek out a narrow victory today and the New World Order will remain intact--until the next time somebody asks to determine their own fate.

No comments:

Post a Comment