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8/25/16

Britain: UK dug herself a deep hole with Brexit as the pound starts to reach par with the euro or even lower

Globalist “Brexit means Brexit” – is the slogan of the new British Prime Minister, Theresa May. She returns from a holiday of walking in the Swiss Alps to face the policy nightmare bequeathed to her by her predecessor David Cameron.

If the new British leader bothered to change any money at Zurich’s Kloten Airport, she would have found that the British Pound is on track to have the same value as the euro.

That is how far and how fast the English currency has lost value since the Brexit vote.

Meanwhile, the other principal woman leader in Europe, Angela Merkel, has set off on a sequence of meetings with EU leaders ahead of a full gathering of all EU heads of government – minus Britain’s Mrs. May – in Bratislava on September 16th.

Mrs. Merkel has acknowledged that she considers the outcome of the Brexit vote “irrevocable.”

That statement, certainly made out of respect for British democracy, should not mean that nothing could change in the interpretation of the vote over the next months and years.

What Merkel and other EU leaders should avoid at any cost is to create a self-fulfilling inevitability that is not justified.

When Mrs. Merkel and her fellow EU leaders meet, they have a crucial decision to make. Do they hurry to push Britain out of the UK on the assumption that the plebiscite vote, in which 63% of the British electorate did not vote for Brexit, was and is the last word?

Or do they leave some time for the British to realize that the successful Brexit campaign was built on a bunch of demagogue-ish 1930s type of populist lies — like the claim that 75 million Turks were about to join the EU and would arrive in England?

Or the lie that the UK could keep access to the EU Single Market and that Brits would be able to live and work freely in Europe, even as London introduced controls to stop Europeans living and working in Britain.

No question, those lies, perpetrated by Boris Johnson and others, did win the plebiscite. But it is also fair to say that most English voters that were pro-Brexit have not yet had a chance to comprehend fully the economic consequences of losing unfettered access to the EU’s single market of 500 million middle class consumers.

here are two stages to Britain fully leaving the EU. Under the EU Treaty’s Article 50, a member state that wants to leave has to announce its intention.

After the announcement has been made, there are two years of technical talks on such details as to who pays the pensions of the British officials who will be dismissed and what happens to the European Medicines Agency or the European Banking Authority — both located in London.

The next stage commences once Article 50 talks are over. Jean-Claude Piris, the EU’s former chief lawyer reckoned it will take at least eight years to iron out any kind of satisfactory UK-EU deal on trade access and the rights of British citizens living in Europe.

Pascal Lamy, the former WTO director general and EU Commissioner also dismissed the idea that a final EU-UK trade deal is achievable without years of negotiation.

It has taken the EU and Canada eight years to agree to a relatively modest trade deal that now has to be ratified by all 28 EU national parliaments.

Bit by bit, the extent of the Brexit lies is now coming home to the British public. This does not invalidate the plebiscite but robs it of any moral authority to be the unchangeable voice of the nation".

Note EU-Digest: Now the British Public has seen what disasters Brexit is causing they might want to call for a second referendum?

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