To invoke or not to invoke – that’s a 2 trillion US dollar question EU is asking UK after the British voted to leave. And US$2.08 trillion was the global equity loss on Friday alone after Brexit – the biggest daily loss ever, exceeding the Lehman Brothers bankruptcy during the 2008 financial crisis and the Black Monday stock market crash of 1987.
On the table is the Article 50 of the EU’s Lisbon Treaty. The Article 50 – which has never been used before – starts a two-year clock ticking on a formal exit arrangement. Shocked and angered by Brexit, EU leaders have started showing childish and vengeful behaviour. Like a small kid who couldn’t get candies anymore, they’re throwing tantrums.
European Commission president Jean Claude Juncker and others in Brussels, including foreign ministers of the founding six EU states (Belgium, Germany, Italy, Luxembourg, France and Netherlands) have demanded that UK should get started immediately by invoking the Article 50. It appears they can’t even wait until October for Cameron to leave.
Prime Minister David Cameron said he would not invoke Article 50, leaving it instead for his successor, who is unlikely to be chosen before October. Even then, many Leave campaigners have said there is “no hurry” to trigger Brexit. Because the UK is now seen as dragging their feet, some EU badass are calling the British bluff, claiming Britons are regretting and will make a U-turn soon.
Martin Schulz, president of the European Parliament, said Britain had until Tuesday – 2 days or 48 hours – to trigger Article 50 and formerly begin talks to agree the terms of Brexit. That indeed sounded very much vengeful from a supposedly world’s most prestigious democracy and capitalism club. With friends like EU who needs enemies?
Does this mean EU leaders are nothing but a bunch of sore losers? They conveniently forgot how their good friend Cameron had campaigned tirelessly against Brexit. Now that Cameron had lost the referendum, the EU leaders are ganging up and ask a country which has paid close to £500 billion (US$724 billion; RM3 trillion) to the EU budget since 1973 to get lost immediately.
EU is now blaming every English man and woman, except themselves. They should know Brexit succeeded primarily because people like Angela Merkel, Jean Claude Juncker and Francois Hollande were too arrogant to listen to problems brought up by the British people. The simple fact other EU members wanted to exit too proves that people are sick and tired of EU’s dictatorship.
How can Cameron decide to leave EU within 48-hour without a successor? It makes sense that he refuses to trigger the Article 50 because he didn’t agree to Brexit in the first place. Perhaps realizing her past mistakes, Angela Merkel has attempted to rein in pressure from within Europe to force Britain quickly to trigger divorce proceedings with the EU.
Actually, Merkel is in a Catch-22 situation. There is a worry that accommodating a Brexit might encourage other exits. But if she acts tough, the already bad situation could turn for the worse and stoke populism elsewhere, most immediately in Spain, in addition to Netherlands, France, Austria, Finland, Hungary, Portugal, Slovakia and Czech Republic.
Still, the Germany’s powerful Chancellor knew the consequences of being too hard on UK like her EU colleagues. Merkel has said there was “no reason to be nasty” in Britain’s exit negotiations. And she has every reason not to cross the line. Poking fun at the once invincible EU, Russian President Vladimir Putin said Brexit has similarities to the 1991 collapse of the Soviet Union.
Besides having to pay an extra €3 billion a year to the annual EU budget once Britain leaves, Germany, and to a certain extent United States, could be pushing Britain into the arms of Russia, should the EU decides to humiliate, punish and push the British to the edge of the cliff. It’s not in the interest of the EU and America to make UK their enemy just for the sake of revenge over Brexit.
Boris Johnson, former Mayor of London, could emerge as the British new prime minister. Boris was called a “Putin apologist” by Remain campaigners after he praised Vladimir Putin’s “ruthless clarity” in backing President Assad to remove “maniac” ISIS jihadists from Palmyra. Boris also accused the EU was partly to blame for Russia’s invasion of Ukraine.
This is a terrifying prospect but come next year, EU could be looking at Donald Trump, Boris Johnson and Vladimir Putin in charge of 3 of the 5 permanent member states on the UN Security Council. When that happens, essentially these three badass will determine the fate of the world, including the mighty European Union.
Therefore, it’s highly advisable for the present EU leaders and bullies to think twice about treating Britain as if the country is another enemy like Russia or China. After lame duck President Obama did nothing but glorifies the ISIS through denials and rhetoric, there’re many Britons who look to Vladimir Putin as someone who can stop terror group ISIS, not Barack Obama.
Other Articles That May Interest You …
- BREXIT!! – Here’re 7 Major Reasons Forcing British To Leave The EU
- British MPs Plotting Dirty Tricks – Even If “Brexit” Wins, They Can’t Exit EU
- EU In Trouble! – Here’s The Message From UK’s Biggest Newspaper – “BeLeave In Britain”
- Reason Why Germany, Holland & Spain “Blackmail” UK Into Staying In The EU
- “Just Do It” – Why Britain Should Stop Debating & Worrying About Brexit
- Netherlands “Rejects” EU – A Slap For EU Elites, A Boost For Brexit
- 4 Reasons Russia Intervened In Syria & Why Putin May Attack NATO As Well
- Already Panicking Over 1,000 “Rapefugees”? It’s Just The Beginning
- US-NATO Can’t Help France, So World Leaders Sucking Up To Putin
- Putin Tops Forbes’ Most Powerful Man For 3rd Year, Obama Slips To #3
- Paris Attacks – Western Superpowers Playing With Fire They Couldn’t Control
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June 27th, 2016 by financetwitter
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