Tag: Brexit

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One motivation for Brexit which I hadn’t read before: the UK had recently overtaken France as the fifth-largest economy in the world, and is expected to surpass Germany within the next two decades.: But until Brexit, Canada [and other non-EU nations] was shut off from this economic powerhouse, our only path to profitable U.K. trade wending […]

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Contributor Post Created with Sketch. Meet Prime Minister Theresa May

 

Andrea Leadsom just dropped out of the race to be the next Tory leader and British prime minister. This means Theresa May is apt to be the prime minister by the end of the day.

The dramatic development came in a statement issued by Leadsom, the energy minister, shortly after midday. She admitted that she has been left “shattered” by the contest in which she has faced an outpouring of anger following her comments about motherhood.

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After the Brexit vote, the markets crashed. I know it’s true, cuz the media told me so. In fact, they didn’t just crash. It was the werst crash evah! Ferget about retiring any time soon. Brexit wiped out yer investments. Just look at how far the UK stock market (FTSE 100) dropped in the 48 hours after […]

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Contributor Post Created with Sketch. Nigel Farage has resigned from the leadership of UKIP

 

Member of the European Parliament Nigel Farage resigned his position as leader of the United Kingdom Independence Party yesterday. He is in a position to request applause for his astonishing success. Under him, a party that holds only a single seat in Parliament not only moved the Tories to hold a Brexit referendum, but has done what only men like Farage used to want. This man is, in short, the only successful populist of our times and he says that his career is now over, though he will retain his job MEP through the Brexit process.

Contributor Post Created with Sketch. Europe After Brexit

 

EU dominoesThe British vote to leave the European Union has triggered a debate — or as Spiegel puts it, a raging power struggle — in the rest of Europe about the proper way to respond. The leaders of Europe are divided, first, about how uncompromising the EU should be in negotiating the terms of the British exit:

For those in favor of a strong and powerful EU, for those who always saw the UK as a bothersome obstacle in their path, the British withdrawal process can’t proceed fast enough. Plus, French President Hollande and others want to use Britain as an example to show the rest of Europe how bleak and uncomfortable life can be when one leaves the house of Europe. Hollande, of course, has good reason for his approach: The right-wing populist party Front National has threatened to follow Cameron’s example should party leader Marine Le Pen emerge victorious in next year’s presidential elections. European Commission President Juncker wants deeper EU integration. German Chancellor Merkel does not.

The even more important question is what the European Union is to become. Is the lesson of Brexit that the remaining states must pursue a closer union, or is it that they must return powers from Brussels to national governments? Both answers make sense. It’s clear that the EU as presently constituted isn’t strong enough to deal with crises of the kind Europe has faced in the past decade. It’s also clear that it’s strong enough to alienate a significant portion of Europe’s population.

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Just nine months ago, Jeremy Corbyn swept into the leadership of the British Labour Party, with an overwhelming 60% of the vote. Today, Labour MPs are trying desperately to force him out. Are they right to do so? Or should they have accepted the decision of the Labour electorate, and backed Corbyn to the bitter […]

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Contributor Post Created with Sketch. Britain’s Constitutional Crisis

 

The leading candidates to replace David Cameron as leader of the Conservative Party, Michael Gove and Theresa May, have both said they won’t trigger the Article 50 process until the end of the year. This has annoyed François Hollande, who responded much like a woman whose husband tells her he’s leaving her but refuses to move out. “The decision has been taken,” he said, “it cannot be delayed and it cannot be cancelled. Now they have to face the consequences.” A speedy Brexit, he said, “would avert all the uncertainties and instability, especially in the economic and financial domains. The faster it goes, the better it will be for them.”

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Since 2013, I’ve written a Juvenalian satire (socio/political, not comic) for Independence Day. And this year is no different. Happy Independence Day, Ricochetti. The tides have turned. Your comments, questions, interpretations, and critiques are welcome. The Turning Preview Open

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UK voters stunned the world by shaking things up with their vote for “Brexit.” Here in the United States, we’ll soon be given the opportunity to vote for Donald Trump – and we think the odds are that if he’s given control of our government, he breaks it. And we’re all for it. Preview Open

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In this week’s Commentary Magazine podcast, John Podhoretz, Noah Rothman, and Abe Greenwald discuss the hysterical response to the British vote to leave the EU, how Hillary and Obama laid a trap for themselves by responding so oddly to the massacre in Benghazi, and how you really can’t win an election if you’re, you know, losing.

Don’t forget to subscribe to the podcast on iTunes.

Contributor Post Created with Sketch. Brexit Should Be a Good Sign for American Conservatives (But It Won’t Be)

 
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Chris Ioannou / Shutterstock.com

In the wake of the Brexit vote, it is natural to consider what the populist victory — unexpected by elite officials and opinionmakers — might mean for elections elsewhere. Does polling underestimate Donald Trump’s true level of support? Is Trump a US equivalent of Boris Johnson? Will nationalist movements on the European continent be able to make headway too?

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An excerpt, translated from the Spanish original: Luis Calvo used to say that, if the Spaniard is the man of “suffer it”, the Englishman is the man of “fix it”. Thus it happened, for instance, when the English went up to the hill of regicide, revolution, and dictatorship with Cromwell, rectifying it afterwards with a […]

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Promoted from the Ricochet Member Feed by Editors Created with Sketch. A Christian Renewal? What the Brexit Means for Traditionalists

 
king alfred
King Alfred

On the morning of June 24, the world awoke to a changed Europe. With the so-called ‘Brexit’ referendum, the UK voted to leave the European Union, and as such, the EU lost one of its most important member nations. Almost immediately, there were calls from France, Italy, and the Netherlands to hold similar referenda, jeopardizing the entire EU experiment.

Contributor Post Created with Sketch. Trade and Immigration After Brexit

 

Border control chaos at Heathrow airport's terminal 5, LondonNo matter what happens next, last week’s stunning “Leave” vote on Brexit has permanently disrupted the status quo ante. Both the Conservative and Labour parties are facing major leadership changes; Conservative Prime Minister David Cameron has resigned, and Labour’s Jeremy Corbyn has been besieged by his shadow cabinet for his tepid support of the Remain option. Stock markets worldwide continue to tumble and the British pound has taken a beating. The Sunday New York Times lead story took a somewhat hysterical tone when it announced that the Brexit vote “is already threatening to unravel a democratic bloc of nations that has coexisted peacefully for decades.” And the strong supporters of Remain are now determined, it seems, to predict the worst, perhaps in the hope that Great Britain will take the opportunity to “reconsider” its decision in light of the global economic hit that occurred the day the Brexit vote was announced.

As I recently argued, the Brexit vote was complicated, given the pros and cons on both sides. But now that the voting has occurred, the correct response is to put the fear-mongering aside and to think hard about the two major issues, so central to the Brexit debate, which will continue to vex Britain and the EU — trade and immigration. On this score, it is important to realize that those two issues are distinct. The argument for free trade is pretty clear — but with the much murkier issue of immigration, it is virtually impossible to come up with a knockdown argument in favor of either fully open or fully closed borders.

Let’s start with free trade. Here, the basic economic principle of comparative advantage works with equal force in both domestic and international markets. The most efficient form of production comes through a division of labor in which all parties provide those goods and services at which they are, relatively speaking, better at producing than anyone else. Thus, even if nation A were better than nation B at all forms of production, it hardly follows that nation B should remain idle. Instead, it should produce in that area in which it has the smallest disadvantage relative to nation A. So long as trade between the two nations remains open, both nations should on balance be better off than they would have been if each kept tariff walls high against any imports. The mutual exchange produces higher outputs across the board, and thus fuels growth in both nations. The principle is scalable, so that the more nations that come to the table, the greater the gains from trade, in both the international and domestic arenas. The substantive goal is to make the borders among sovereign nations porous.

Contributor Post Created with Sketch. Brexiters Should Not Fear a Do-Over

 

brexit-658338It has been four days since 52 percent of British voters chose to leave the European Union. From almost the moment the networks declared victory for the Leave campaign, the Remainers have demanded a second referendum — a do-over to get a different result. Demanding a do-over is the oldest trick in the book for sore losers. It’s also something Brexit supporters should be unafraid of. Just ask Gov. Scott Walker.

In the United States there is a legitimate process for a do-over in the form of a recall election. A recall is designed only for extreme circumstances and can easily backfire if used inappropriately. An appropriate recall campaign will work to unseat an incumbent for reasons of incompetence, malfeasance, or corruption. It is a last-ditch way to remove an elected official who is objectively unfit to remain in office until the next regularly scheduled election.

A recall campaign waged for nakedly partisan political purposes is a dangerous weapon that can be turned against those who wield it. Walker was elected governor of Wisconsin in 2010. Halfway through his term, Walker was subject to a recall election based mainly on his having done as governor exactly what he said he would do if elected.

Contributor Post Created with Sketch. Old Enough to Know Better

 
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We’re young! Go us!

Newspapers on both sides of the Atlantic have been full of what some are calling a salient fact: A high percentage of those young Brits who cast their Brexit ballots did so in favor of remaining in the European Union. Indeed, seventy-three percent of those aged 18-24 voted to remain. Rounding up, The Guardian has taken to calling this cohort “the 75 percent.” They are, according to the lefty paper, angry about the direction they see their country taking.