Why #Brexit Is Much, Much Scarier Than You Think
Brexit is the first case since the Second World War of a major global economy choosing, of its own free will, to leave the international system. Already, the economic costs of that decision are staggering, and they will worsen. The Financial Times this morning reported that the proposed sale of Tata Steel and Tata Motors, Britain’s largest steel producer and its sister car company, to foreign ownership has been stopped. The people in the towns where those steelworks function voted to leave the European Union by 57 to 43 percent. Now their employers, who will not be their employers for long, will have no access to the largest market at hand. This is what economic suicide looks like.
Economic suicide is inevitably political suicide. In the space of a few hours, Nicola Sturgeon, leader of the Scottish Nationalist Party, called for a new Scottish referendum on independence. The logic of their departure is clear. If we are going to live as nations, we should divide the nations up properly. Why would Scots shackle themselves to the dying animal of a Britain that has turned its back on the world when they can belong to a larger world order with infinitely more possibilities? The old people of England—and the Leave supporters were overwhelmingly elderly and rural—have denied their children a passport to 27 countries. Seventy-five percent of voters under 25 wanted to stay.
▻http://www.esquire.com/news-politics/news/a46143/why-brexit-bad-for-britain
#économie
