( Important three minute read)
The Pandora Box is open.
It is damaging politically for the status of the EU – and its liberal values – and, thus, for the future prosperity and security of Europe as a whole.
It is harmful for the economy of the rest of the EU.
The UK voted to leave the EU by a four per cent margin.
In short the UK choose to leave the EU, has left it between a rock and a hard place.
SHOULD THE EU ACCEPT THE OUT VOTE OR DEMAND A RE RUN.
Amid rumbling aftershocks from last Thursday’s political earthquake, there is still no sign of the UK actually leaving the EU.
Could it be that Brexit will never happen?
Although the vote is not legally binding and parliament would be within its rights to ignore it, to do so would be political suicide or political reincarnation.
At this moment there is no way of knowing whether there is going to be Civil unrest or a general election fought on the basis of one party campaigning to take the UK back into Europe.
The reality is that on the Uk side it is now impossible to negotiate and none of the options available to the UK outside the EU, are attractive.
Because None of the available options could satisfy at the same time the UK’s political wishes and its economic interests.
There is no clear picture on who might step forward to lead the Conservatives – and the country.
The Labour Party is tearing itself apart, with more than a dozen shadow cabinet members resigning in an attempt to force leader Jeremy Corbyn to resign.
Leading Leave campaigners suggested single market access is on the table, which could require compromise on free movement laws.
Investment banks are reportedly already putting in train plans to move thousands of City jobs overseas.
The Institute of Directors has warned around a quarter of its members may begin a hiring freeze until the economic effects of Brexit become clear.
It is quite obvious to any outsider from the resulting fall out that the people of England did not vote on the Referendum core question.
They voted against inequality, fear of immigrants eroding their ability to access jobs, wages, housing, and the health services and now have a duty to the rest of Europe to go back and vote again.
As fears of a post-Brexit recession in the UK and beyond wiped $2trn (£1.5trn) from global stock values in the worst trading day since the credit crunch in 2007. The pound touched a 30-year low against the dollar and the FTSE 100 slumped 3.2 per cent.
Can the EU wait? Yes. But not for Long.
We all know that the World we live in is facing complex problems that require a combined effort to resolve.
Given the “extraordinary complexity” of the tasks there is no need to immediately trigger the UK’s formal exit process from the EU.
On the plus side it allows the EU to look at itself and learn the lessons that it’s the people who count not the single market.
The bloc has lurched from one crisis to the next, promising time and again to heed the growing mistrust of its 500 million citizens, only to return to the business of internal squabbling as another emergency emerges on the continent.
Business as usual’ is no longer an option.
Its Reform or die! But exactly what that reform would look like is an open question.
Euroskeptic parties are gaining influence across the bloc, taking advantage of the E.U.’s perceived failures in dealing with the euro zone crisis and the arrival of more than a million people seeking sanctuary from war and poverty last year.
The Eurosceptics are the ones most on the ball in terms of putting forward their vision of Europe, and the E.U. institutions have to come up with something convincing to rebut that.
The E.U.’s management structures are complicated, and there is not one single person who can lead the push to define a narrative.
E.U. countries will pursue much more British-like policies in which they look for concrete benefits from European integration and not for a quasi-religious or quasi-ideological movement towards the construction of Europe.
The 27 remaining member states have very different histories and cultures, and range from the socially liberal Scandinavian nations to the more religious and conservative South and East. Denmark, for example, legalised same-sex unions in 1989, but Malta only allowed its citizens to divorce in 2011.
These gulfs became apparent during the refugee crisis, when Hungary and Slovakia claimed the influx of Muslim refugees would threaten their culture. The divide between the former Soviet nations and the rest of Europe, meanwhile, often overshadows negotiations of the E.U.’s response to Russian aggression.
Without a shared vision there is the risk of narrowing the E.U’s focus to regional challenges, which needs to be resisted.
If the Union is not to follow in the footsteps of England its combined wealth must be spread evenly. This can not be achieved with an Euro that does not reflect the GDP of the whole of European Union.
If the Euro is to remain it must have a financial vehicle to allow investment in it.
If the Union is to reform it must balance it books, scrap moving its Parliament from one city to another, open proper channels to migrants,
Can the divided, sprawling economic bloc come up with a vision to unite its fractious member states?
Only time can tell if Britain’s vote ends up being a wake-up call, or a death knell.
If England wants to win like Wales ( In the European Cup) they have to be on the pitch.