Friday, June 24, 2016

Brexit; The end of the old arrogant Europe and of the Union Jack

Luxembourg city July 10th 2013 Luxembourg will hold new elections after Prime Minister Jean-Claude Juncker announced he would resign following a secret service scandal.

Bruxelles November 10 2014 growing calls for Jean-Claude Juncker to resign as President of the European Commission amid allegations that he presided over potentially illegal tax breaks given to multinational companies operating in Luxembourg.

London, UK June 24th 2016 The UK voted by 52% to 48% to leave the EU.

World markets fall everywhere. The biggest financial drop ever. Everywhere in the world.

What’s happening? Where are we going to? Why did the Brits decide to leave the EU?

Welcome to the world of uncertainty. The new world where the democracy of people wins over the arrogance of the politicians. A world where the inner feelings of the people, the traditions of the countries win over the future of the same people. But also a world where the old people win over the young people.

London, UK 1996. Max is working in the City of London. Max was one of the few Italians working in the City of London. At the time people were saying:” You are good Max despite being a European. ”

In the City if you spoke without the Brit accent you would be considered a foreigner, even if you are from a EU country. Why? Because only the people from the island could be trusted.

Especially the old people were always very diffident with the people coming from outside the Island (namely the UK).

People in the UK always felt constrained in the EU. They felt different, closer to the NYC than to Paris or Berlin. England has always felt different from Europe. Or, better, the Brits always felt different from the Europeans.

Two other factors contributed to that.

Corruption at the EU Commission. Appalling. EU contracts always go to the same groups. Corruption is so widespread that the Commission has been heavily criticized. People like Prodi, Junker and the previous presidents of the EU commission have been seen by Europeans as persons you cannot trust.

Image what the Brits thought of them. Brits could not stand the heavy bureaucracy that from Bruxelles was dictating to Europe.

It is also a cultural thing.

But you know what? Brit politicians always managed to maximize the advantage of UK in the EU. Many opt-out rules were applied to UK. In two words, what was a rule for Europe was not always so for UK.

But, more than anything else, UK took a great advantage of being part of the EU. The City of London could have never reached such an importance as world center of financial markets if UK was not part of Europe. And London could have not grow so much (especially its real estate property market) if UK was not part of the EU.

It is highly hypocritical to say that UK lost being part of Europe. UK won a lot from Europe.

But the old Europe, the Bruxelles bureaucracy, was so ignorant not to see what everybody was being. A wave of people coming from Africa to invade Europe. Not a single serious policy was taken.

European countries were left alone.

Brits got scared, their isolationist approach even increased their distrust of Europe.

So they decided to live. If just a referendum could live them untouched from what is coming from Africa, everybody would do it.

The point is that we are talking of un unstoppable phenomenon and the Brits will suffer too and a lot.

Bruxelles bureaucrats felt very comfortable that they could get away with their arrogant approach to the European people’s opinions. But now they feel that their days might be numbered.

Now in the internet days, the arrogance of the power does not pay off anymore.

But also the Brits forgot that the days of the British Empire are gone. UK is only a small and not significant island in the world landscape.

If it was not for the English language and for its financial importance, UK would not be taken seriously as it is only a small country.

And the City of London will become less and less important now.

If the Brexit wanted to defend the Union Jack flag in the world it has had the opposite effect.

The UK flag has been definitely taken off forever thanks to the Brexit.

That would have happened anyway in the future.

But the Brexit accelerated this phenomenon.

“God save the queen” the Brits say.

“God save the UK” the Brits should say nowadays.

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1 comment:

Olivier Doria said...

The British have made their fortune in opting out of the debts and huge pensions paid to themselves by the rulers of Italy that are going to cause a massive default of Italy's debt. From the onset of the euro BOE executives would come to visit as the top expert on convergence and Italy on the trading fllor of DB London. They would always ask similar questions: what do you think of Italy joining the euro? is Italy debt sustainable ecc. So they knew 20 years ago thatthe euro was a system to buy time for the inevitable default of Italy...that is they did not jointhe euro, that is why they are running out of europe as they know that time is over for the damned euro!! why should the pay for the inflated pensions of Napolitano, Amato and friends? Enjoy those last year of huge undeserved pensions as in 2-3 years the amount will be 75 pct less and no more trips to Cannes, Bali, Bahamas ecc at the expense of the poor people who are starving!!
olivier doria