Sunday, June 26, 2016

Who knows what's next?

… Brexit’s Complicated Aftermath | City Journal.

If insularity is indeed on the rise, it is affecting increasing numbers of Europeans. According to the latest polls, nearly a half of the Italians and Dutch want their countries to leave. Discontent with the Union is also widespread in other countries. The French have a poorer opinion of the European Union than do the British, but because the French believe it to be reformable, fewer want to leave. Before the vote, the danger of Brexit to the integrity of the European Union was described in the French media in pathological terms, as a possible “contagion,” rather than merely an example to be followed—or not, as the case might be. And now the Union is faced with a dilemma: on the one hand, it will not want to make Brexit too painless for Britain, in case other countries, such as Sweden, follow suit; but on the other, it will not want to disturb trade relationships with one of Europe’s largest economies. Britain’s trade with Europe is largely in Europe’s favor, but it’s easier for Britain to find alternative sources of imports than for Europe to find alternative export markets.

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