Financial Times: Brexiters Must Lose if Brexit Is to Succeed

The British government officially notified the EU of its intention to leave – an admission that a prominent and pragmatic member could not influence the larger governing structure or find agreement with other European members. The decision is a tragedy for both sides “Even if the exit negotiations go well,” explains Martin Wolf for the Financial Times. “Economically, [the UK] will lose favourable access to by far its biggest market. Politically, it will create great stresses inside the UK and Ireland. Strategically, it will eject the UK from its role in EU councils. The UK will be poorer, more divided and less influential.” Wolf goes into specifics. Negotiations will be complex and difficult. The EU supply chains benefit from short distances. All trade deals impose constraints, and other countries, like the EU, will have conditions. The UK must prepare to abide by its obligations to the EU and, as weaker party, prepare to make concessions. British negotiators must be attentive, and citizens cannot afford to be misled once again by those who oppose any dealings with the EU. The rhetoric leading to the decision to give up on such a cross-border union demonstrate the ease of whipping up internal divisions to weaken a system of government for short-term political gains. – YaleGlobal

Financial Times: Brexiters Must Lose if Brexit Is to Succeed

If an exit deal is to be reached with the EU, the UK will need to make concessions
Martin Wolf
Thursday, March 30, 2017

Read the article.

Martin Wolf is chief economics commentator.

Copyright The Financial Times Limited 2017. All rights reserved.