The British people have spoken and voted to leave the European Union. Despite the howls of the Euro-fanatic Atlanticist pundit and 'creative' classes for re-voting until the people deliver the 'right' answer as with past EU referendums in Ireland or Denmark, there's not much that can be done to reverse this decision, only delaying of the consequences. Resigning Prime Minister David Cameron has already admitted as much to Parliament. Nor are the Scots going to ride to the EU's rescue by calling a second independence referendum anytime very soon and thus forcing the Leave majority to choose between remaining subservient to Brussels or breaking up the United Kingdom.
The problem with a 'damage control' approach to Brexit for Brussels is that, by the time the UK actually leaves the European Union in late 2017 or more likely 2018, other member nations such as France, Austria or Portugal could be voting on referendums to restore their sovereignty, accelerating the collapse of the EU and quite possibly the euro. This could lead to, as Dr. Jim Willie has predicted, creating a rump 'euromark or Nordic mark' of a German-led northern European currency for the Netherlands, Luxembourg and Finland. Instead of being able to roll with the punches or improvise, the EU might get shattered by a perfect storm of rising nationalism and economic turmoil arriving all at once -- not unlike the superpower Soviet Empire a generation ago.Read More