Now that Brexit is indisputably established as one of the most monumentally stupid pieces of self-inflicted injury by a developed nation this century, other nations are learning key lessons from its mistakes.
The concept behind Britain’s decision to leave the European Union was that it would recover its sovereignty. On the day that Britons voted by 52 per cent to 48 in favour, its main cheerleader, Nigel Farage, declared it “independence day”. That was nearly three years ago.
Behind the scenes at Westminster and the teetering fate of the British government lies an even more profound change in British politics: the very real possibility of the break-up of the United Kingdom. In this situation Australia needs to tread carefully and maintain its good relations with what has emerged as its more stable European partner, the European Union, while offering silent support for whatever governments or countries could emerge from Brexit. Is the UK headed for dissolution?
It found that, despite the long Brexit referendum campaign and the subsequent two years of endless debate and analysis, the British public still don’t know key facts around Brexit. For example, less than a third knew that immigrants from European countries paid billions more in taxes than they received in welfare benefits and services. The majority of Leave voters believe European immigration has increased crime, decreased quality of healthcare and increased unemployment among low-skilled workers: all these beliefs are wrong, according to a recent report by a UK parliament committee. In the cafes and hairdressers of middle England, they expect their government to get on with Brexit to solve problems they perceive as real.
A major Lincolnshire employer has announced it is moving its headquarters to Europe as a direct result of the Brexit vote in June. Anxiety over the cost of a hard Brexit, which would see the UK drifting away from cooperation with the rest of the EU, has compelled Smiffys to open a new headquarters in the Netherlands.
The fallout from the United Kingdom’s Brexit vote has lead to the British pound falling to its lowest level against the Australian dollar in three years, and on some measures, to its weakest position in 168 years.
Two senior bankers have warned they could start moving jobs out of London next year if the UK appears to be heading for a hard Brexit.
Certain London airport bureaux de change are now returning less than €1 for each pound offered, underlining how the slide in the value of the sterling since the 23 June Brexit referedum vote is already hitting holidaymakers in the pocket. MoneyCorp at Stansted this week offered a rate of €0.9915 and ICE at Luton offered €0.990, according to Caxton FX.
Britain just got its first concrete sign that the British exit from the European Union, or Brexit, will crush the nation’s economy after a grim set of PMI data released by Markit on Friday morning showed a “dramatic deterioration” in the economy since the UK voted to leave the EU. Markit’s flash PMI readings for the UK’s economy showed that composite output fell to its lowest level since March 2009, during the tail end of the global financial crisis. Here is the scoreboard:
In nature, phase transitions describe changes in states of matter. Depending on temperature, H20 can exist as solid (ice), liquid (water) or gas (water vapour). Societal crises behave similarly. Today, our economic problems have morphed into their social and political phases.
4 minutes | Reporter Pie is dismayed at the Remain’s reaction to Brexit!
The number of hate crimes reported to British police online increases by more than 500 per cent following Britain’s vote to leave the EU.
Tens of thousands rallied in the streets of London on Saturday, protesting last week’s Brexit referendum results and seeking a unified way forward in a colorful March for Europe.
The UK construction industry will slam into a “brick wall” early next year due to the massive uncertainty created by the Brexit vote, an industry source has warned. A person in the sector, who contacted The Independent but did not want to be named, said that since the shock referendum result was announced last Friday morning anxious international investors have already pushed the pause button on future UK infrastructure investments.
Assuming that Brexit means Britain is withdrawing from the world would be an egregious mistake.
The heated referendum shows that the messages of hope or fear peddled by our politicians matter greatly, writes Ben Eltham. As the news from Britain washes over Australia, we southerners cannot help but wonder what it all means. For Britain, this is a political event of unparalleled significance. It has already triggered the resignation ofMore
Could the chaos in Britain come to the United States next?
Brexit has practically given license to extreme, right-wing racists to legitimize their views, which is a disaster for community cohesion in Britain, businesswoman and former Tory Parliamentary candidate Shazia Awan told RT.
The official Leave campaign has wiped almost its entire website from the internet. The site – which previously included the suggestion that the EU budget would be sent back to the NHS and included promises about trade deals – now just has a message thanking supporters.
The fears of immigration whipped up by Nigel Farage mirror Donald Trump’s. If he makes it to the White House, they too will be exposed as lies the very next day
The British prime minister steps down after the “Leave” contingent triumphs in a breathtakingly close referendum that sent world financial markets reeling. (Updated throughout the day)
Great Britain’s decision to leave the European Union presages perhaps another global financial meltdown. Banks will again demand massive bailouts. We will be forced to again swallow austerity measures, and there will be a continued decline in living standards.
On the upcoming British referendum on whether the U.K. should exit the E.U., the “Last Week Tonight” host expresses his ideas in a “violently British” way—some of which involves a hateful song.