Brexit Would Be Good For Britain, Bad For The Rest

In little over two weeks, the people of Britain will vote on whether or not to stay in the EU or not. What’s to make of that? Well, in short, it would be good for Britain, but bad for the rest of us if they decided to leave.

There have been some anti-exit doomssayers “reports” claiming that Brexit would have devastating effects on the British economy. But while the initial uncertainty about the terms of future trade agreements could indeed initially have a negative effect, there is no reason to believe there will be a permanent negative effect. Britain is too important (the biggest export market) for the rest of the EU to start a trade war or anything like that.

Meanwhile, Britain would save all the money they now send to Brussells, and would be free of much of the Brussells regulations and could have even freer trade with the rest of the world.

So, Brexit would be good for the Britons (at least to the extent we overlook the indirect negative effects of what I’m going to write in the next sentence) . Unfortunately it would be bad for those of us who live in the rest of the EU. Britain is the most important voice for global free trade and against EU regulations, and so if they leave, the EU would become more statist.

So, despite the benefits of Brexit for the people of Britain, I hope the “remain”-camp wins

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1 Comment

  1. I agree.

    Margaret Thatcher had it right. Britain benefited from the freer trade of the Common Market, European Economic Community, and European Community, but there was no benefit to political centralization of the European Union or monetary centralization of the single currency. Events have proven her right.

    The outcome I’d like to see (as a Canadian, not an EU citizen) is Brexit followed by UK admission to membership in the European Free Trade Association (EFTA) like Iceland, Liechtenstein, Norway, and Switzerland. That way Britain could still participate in the EU single market without being subjected to the EU’s ridiculous and stifling statism.

    Markus Buchart
    Winnipeg, Canada

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