The UK could be officially outside of the EU but to the banks, universities and import-export companies EU cooperation is as much of a reality as ever.
That's the wishful thinking so much projected by the brexiteers. And I believe they're very wrong.While London may remain a financial hub it will lose its importance. Multinational banks and insurances are alredy preparing to move entire departments to the continent. Especially France is extremely hard nosed in not providing the UK financial industry with passporting rights. Frankfurt and Luxembourg are also yapping happily about the prospects of new jobs and businesses. And London is about to lose the privilege to clear deals in Euros. Import / export has a lot to lose too. managing supply chains, without manufacturing just can't function in times of lean production and just-in-time manufacturing, gets incredibly harder and more expensive. Universities? If you believe that they will just shrug it off I'm afraid you're in for a huge surprise. English universities will lose EU research grants. But the worst is that they will lose on foreign talent. Real talented scientists will think hard if they want to move to England in the current xenophobic climate and seek out alternatives. The only bargaining chip that England really has is the defense industry and a pretty strong, experienced army, which helps provide security for Europe. Else then that? Not much. And BTW: Comparing the situation between the EU and England with that in Korea is, well, grasping for straws? in any case it's a really bad, if not ludicrous argument. Despite the defiance showed by some English politicians and the tabloid press I think that in reality England is in for a world of self-inflicted hurt. And mostly those people that enthusiastically voted to leave. |