BREXIT: EURO MEETS ITS WATERLOO
English is a very funny language, I learnt it while watching one of my favorite hindi movie. Well, ask the French, who are ready to remove it as one of their official languages. So not only Britain, its national language will no longer find place in the land of Napoleon. What about a French referendum for a Frexit? Nobody is going to promise that from now on. When the whole world is shocked and baffled, Indian politician are amused, arrrre yaar could have promised something else, refrigerator, television sets, gold chains, laptops, free electricity, water……. Whaaat is this referendum.
David Cameroon will be remembered for changing the course of history or geopolitics, whatever you want to call it. But can you actually blame him. Yes, he couldn’t understand what we call in India, pulse of the people. But he did help in bringing out the voice of dissent loud and clear. Anyone anywhere in the world will think first about themselves, their family, community and then about the nation’s GDP if given a choice. As a result, Britain has made its choice, Scots have made theirs. Do you think Scots have voted for globalization or free trade, No they would rather prefer being a smaller part of Europe than one of the four islands of United Kingdom.
Britain exports 44% of its goods and services to EU and has annual trade of about $ 575 bn, and as per political and economic analysts the so called old and middle aged people are unable to comprehend this. They have seen 25-30 years of EURO rule and are disillusioned with series of bailouts to save German and French banks, autocratic austerity measures imposed on EU members and continuing economic depression coupled with aimless monetary policy.
Although quick divorce is recommended, EU & UK marriage was anyways not completely consummated with separate currency and Britain not joining Schengen agreement i.e maintaining its internal border controls. As Britain looses EU, EU has also lost one of its wealthiest members which contributes 3% of the world’s GDP. So instead of making it difficult for Britain, European Union should put its house in order, stop carrot stick approach and formulate cohesive socio-economic policies to sustain itself in the long run. As for Britain and its people, I think they followed what John Burrougs said, “LEAP AND THE NET WILL APPEAR”.