I’ve been watching, reading, and dreaming about the Brexit gloom and doom. Not one to bite my tongue, I have to give my 2 pence worth. Unlike John Oliver, I am in complete support of Britain’s exit from the European Union. To begin, Britain never went all in on the EU idea because it kept its own currency, the British sterling. They refused to give up control of their money supply and rightfully so.
I understand that their currency, at present has taken a sharp dive, that their decision has impacted foreign markets, and that there are unforeseeable consequences of such a bold departure. I also believe that the politicians, bankers, and businessmen played to the unjustified fears of people by making Brexit an immigration issue. That was the easiest way to drum up support for this initiative.
Even with all that, the outlook for the British economy is a lot brighter than a summer’s day in London. Britain no longer has to be under the control of the over regulated EU bureaucrats, a governing body whose interests are to protect the strong nations like Germany and France while holding poor nations like Greece and Spain hostage with their unreasonable restrictions. (see Payday Loans: Germany’s Shady Solution for Greece) New trade deals will have to be ratified, alliances will have to be reestablished, and the short-term pain will have to be endured. This may be a bit painful initially but it will prove to be worthwhile in the long run. Once the market does stabilize and the world realizes that there is no apocalypse, I expect more countries will follow in Britain’s footsteps. This won’t include Scotland leaving the UK as their desire to uphold the status quo will only grow stronger given what they have to lose. (see The Trouble with Single Malts: Why Scotland Should Stay in the UK) In the end, the EU will dissolve but this dissolution will not be the end of globalization. This is only the beginning of the beginning.