It is an amazing Friday morning and I’m not even an ounce British. Last night Britain decided to leave the pseudo-pan Euro government known as the European Union. This break from the grip of Brussels is a sign of a change in Europe and if it's for the better has yet to be seen. Though this will take time, the effect of their move will be felt throughout Europe and has already effected the global markets sending stocks falling,though this has bigger implication for the fate of the EU more than anything else. After the vote had been announced, many other EU countries have decided they too want a referendum on leaving. Countries like France and the Netherlands are fed up with the EU and for good reason; this leviathan has become less of a trade commission and more like you're nagging mother.
The EU has many problems with it, but the biggest problem is the euro which is for most countries in the EU, their common currency. This is very dangerous and was shown to be dangerous during the economic collapse of 2008, which led to Spain and Greece having to be saved by the other countries of the EU..This has caused some tension between the many countries, especially after Greece was bailed out- which was a very contentious issue. This has led to a sentiment of uncertainty among the powerful EU countries like France and even Germany. which throughout all of this, seem to be the glue in this crumbling house.
The bailing out created the atmosphere for this type of collapse. The people of Europe now see that they can leave, and yes, many people are very upset but I don’t think they should care. France, Holland and another country that has the urge to leave should leave. The trade-offs are only the singular market and that can be easily taken care of. Remember. Switzerland has been dealing with the EU as a nonmember for years. Switzerland itself has done much better than any other European country economically. It was named the most competitive economy in Europe by the World Economic Forum and is by far one of the best economies in the world. This should be a model for other countries like Britain moving forward. Switzerland is one of the freest market in the world, which I believe to be the reason for its great success. Embracing the Swiss-style free market would greatly benefit Britain and move it away from its modern welfare state politics.
The one thing the EU countries must consider is whether this should just be a trade federation. This is an idea that was considered by the Nobel Laureate economist F.A. Hayek penned in an essay European Federation. The idea of a zone of trade within Europe seems to be what was missed in the creation of the Union. I forsee over the next 5 to 10 years the eventually change of the EU and it’s eventually collapse.
