What an amusing weekend this was. Thank you for the entertainment!
In the unlikely case you are wondering what I am referring to, it is of the course the aftermath of your Brexit vote. Similar to our Republicans with Trump as their presidential candidate, the English seem to be sitting there in a mood probably described best by:
Oh dear, … what have we done?
You can tell that you have taken the wrong turn, if the village idiot congratulates you on the direction you are heading. In your case it was Trump. He commented, that his Scottish golf course should see more visitors with the GBP dropping to its lowest exchange rate in 30+ years. That is the quality of your new friends.
What else was entertaining?
Your Prime Idiot, who during campaigning promised to trigger Article 50 immediately, does not have the balls to do so. This comment at the Guardian offers an explanation. Cameron wants to hang in there until October and do … nothing.
Your most prominent Brexit politicians do not have the balls to pull through. Nobody steps up to fulfill the promises you fell for. Your Boris Johnson feels “no rush to act”. Or in other words, he wants to do … nothing.
It seems, your government does not have a plan. And never had one.
At the same time, the Oh so inefficient EU government was prepared. The immediate and unanimous reaction from EU officials can be summed up in four letters:
While the English politicians intend to sit on their thump and do nothing, others are preparing for Brexit. The Scots wanted to stay in the EU, so did the Northern Irish. Both are exploring ways to leave the UK and remain in the EU. On Reddit.com someone raised the question: What will you call yourself if they leave? Mostly United Kingdom or MUK? Somewhat United Kingdom? A worse acronym.
Last week some of the biggest law firms in the world, all with their EU headquarters in London, applied for membership in the Law Society of Ireland. They need to make sure, they can continue working in the EU. And Korean companies Samsung and LG announced to relocate their European headquarters out of the UK.
Moody’s and Standard & Poors is preparing. The British AAA credit rating was placed under review. Which means, the cost of financing your – largely foreign – debt will go up. A reminder, this is how you created your recent ‘great economy and low unemployment’, Glynksy is still dreaming of. Since 2009 you just borrowed and printed more money. There was no growth or greater employment through real business. And now the financing of that scheme will be harder and more costly. Because your so called financial service industry will lose its “Euro-Pass“, and the lower Sterling Pound will lead to higher interest rates.
If this is all too far removed from your daily life, watch your online shopping experience. IT systems are being changed already. The UK will neither have EU data protection laws anymore, nor will it be part of the Privacy Shield negotiations. EU consumer protection laws will not be applicable. Prepare for statements from Amazon, eBay and others, that “this product is not available for shipping into your country”.
Whether or not your politicians do act, the rest of the world does. And your only friend seems to be the one person, you dislike even more than the EU: Angela Merkel. She is the only person wanting to calm down the EU, and give you a bit of time to sort the mess you got yourself into.
This is history in the making. I believe, all will end well. But it is a bumpy ride ahead.