Brexit Vote Disaster: No Matter What Happens Politically, Britain Must Leave The EU

Brexit: Don’t be confused by Britain’s Brexit vote. The parliamentary loss by British Prime Minister Theresa May’s Brexit plan is a defeat for her, not for Britain’s ultimate pullout from the failed EU. Brexit, at this late hour, remains very much alive.




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The deal that May struck with the EU, after nearly 18 months of non-stop talks, satisfied almost no one.

For Britain’s hard-left Labor Party, leaving the increasingly socialist EU was never on the agenda. So any Brexit deal, of any sort, would not be satisfactory.

But it was ultimately opposition from her own party that sank May’s Brexit agreement. May had already gotten 27 EU countries to sign off on the deal, a difficult feat in itself.

Even so, many of  May’s Conservative Party colleagues felt she had done a poor job of negotiating, giving away far too much to the EU bureaucrats, while also losing a seat at the table where rules are made. A lose-lose, as far as they were concerned.

Vote Of No Confidence

Anger over the deal was out in the open, and May’s defeat was widely predicted. The only question was how big her Brexit deal loss would be. Most people expected a loss of around 230 votes. May’s Brexit plan lost 432 to 202 — exactly as expected, by 230 votes, but still the worst defeat by a British government since 1924. In short, it was an epic drubbing.

So what next? May has called for a vote of no-confidence, beating her foes to the punch. In a parliamentary system, losing such a vote can be fatal to your career and lead to a takeover by the opposition if a national election is called. But it can also breathe new life into a wounded politician, and that’s what May is now. The bet is, while she lost the Brexit vote, she’ll win the vote of no confidence.

Brexit is another matter entirely.

“Take Back Control” was one of the slogans that carried the day for pro-Brexit politicians during the June, 2016 U.K vote to leave the EU. But the deal that May negotiated gives very little control back to the U.K. over the next couple of years. By law, one way or another, the U.K. will cease to be a member of the EU effective March 29 of this year. At that time, it will either have a deal in place to smooth the way, or it will leave chaotically, with many things to be settled either through negotiations or legal action.

In short, it may not be pretty.

Government Collapse?

As CNBC succinctly put it, the defeat “leaves the prospect of a complete collapse of government, a disorderly exit from the bloc or even the entire Brexit process being scrapped altogether over the coming weeks.”

Should you care about all this? Absolutely. Some 1.1 million Americans work for British firms. Indeed, at $480 billion in total investment, Britain has more money invested in the U.S. than any other country — including China and Japan. We sell some $123 billion in goods to the U.K. every year. So whether Britain thrives or dives matters.

Same with the EU. But with the exception of free trade, we think the EU has been heading in the wrong direction for some time now. And its economies all pretty much show that, growing ever more slowly as their populations age and their economies lose their dynamism.

Britain is smart to get out while it can and disengage from the internal EU mess as much as possible. Increasingly, the EU has become an unaccountable, hyper-regulated political bully run by even-more unaccountable bureaucrats. At one point in the not-too-distant past, the EU bravely predicted it would “leapfrog” the U.S. in growth and jobs.

Today, that’s not even a joke. It’s a painful memory of unfulfilled wishes.

Labor’s (EU) Love Lost

The U.K. still has hope. Sure, its Labor Party is awful, with its socialist leader, Jeremy Corbyn, so far to the left on the political spectrum he makes Alexandria Ocasio-Cortez look like Ayn Rand. Yet, Britain’s best hope for a better economic future is the coyote strategy: When caught in a trap, coyotes are known to gnaw a leg off to escape death.

That’s where the U.K. is now. By the EU agreement, Britain will have to live under EU rules for a year or two with no direct say in how the rules are made or applied. Given this, Britain should not hold another referendum. Its people already spoke, loudly and clearly. If the British government can’t come to an agreement among themselves and with the EU, it should leave anyway.

Abandoning The Failed EU

The EU is a disaster in slow motion. Its laughable rules, regulations and endlessly detailed directions for its member nations on how to run their economies — instructing them on everything from immigration policy to the size and shape of bananas allowed in markets — represent a massive loss of sovereignty and economic self-rule for its 27 members.

Despite all the dire prognostications by pundits, politicians and punters of various stripes, Britain doesn’t have much to lose by leaving the EU. As we noted, during the initial referendum to leave the EU, nearly everyone expected disaster if the Brexit vote won. It didn’t happen. Instead, Britain did better than the rest of Europe.

By freeing itself from the EU, even while continuing to trade with it, Britain would be far better off. A European Superstate staffed by feckless bureaucrats was always a bad idea. It still is. Britain, walk away.

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Britain Booms After Brexit — Will Last Country To Leave EU Turn Out The Lights?


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