Further down below is a list of the six flavours of Brexit Britain can aim for. This has been inspired by The Economist. At this point, it is not at all clear what the British government is aiming for, but given the weakness of Theresa May, I do not think it matters much.
I think/believe/hope that there will be another election soon, and this time there will hopefully be a real debate about whether or not to continue with the Brexit.
One can only hope that this time around politicians will finally tell people the true cost of Brexit and its impact on their lives over the next decades.
Personally, I would prefer one of two extreme options (however unlikely either of them are):
Option 1) Britain withdraws from Brexit (through another referendum or a new clear election mandate). The ongoing debate about the EU in Britain might finally quiet down. Economically, this would be the best medium term solution.
What I do not like about this scenario is that Britain will still have a seat at the table and be able to torpedo any and all deeper integrations of the EU that I am looking forward to (deeper military integration and deeper fiscal integration, just to name the two most important ones). In the past Britain has been strongly opposed to this and given the close vote on Brexit it is very unlikely this will change. In order to be accepted by its citizens, the EU will have to change somewhat drastically over the next few years. With Britain on board, I cannot see how this will happen.
Option 2) Britain leaves the EU with no deal and is properly hurt by Brexit’s impact. No mercy should be shown by European politicians. A) they had it coming and B) this will act as a deterrent to other countries trying to make a similarly bad choice.
Even if we do not get either of the two options above, this would leave Britain with some limited membership/ access, which means it might be paying for the access to the market without having any say in the EU’s future development. And that is a good thing!
There should also finally be a mechanism to expel countries from the EU for various reasons such as being at odds with the EU’s core principals (Poland and Hungary are currently atop that list) or being in strong disagreement of the future course of the Union. There is a lot more to be said in a future post.
Next up are your different flavours of Brexit 🙂
