Never was so much messed up for so many by so few. That pretty much sums the Brexit experience.
The post-Brexit referendum reality turned out to be worse than the gloomiest predictions. British stocks have taken a beating, the pound fell through a dark hole and the repercussions are being felt around Europe and the world. Nevertheless, these are the first panic reactions and it is best to wait for a while and see if things will be settling down. The long-term consequences are still unclear, but as a mental experiment, it is useful to try and catch a glimpse of what the future holds, based on current trends. Fasten your seat belts, hold on to your hats and join me as we fast forward to… let’s say the year 2020.
The main slogan of Leave was “taking our country back”. What they did not mention was that “back” meant “300 years back”. Brexit meant independence alright. Scottish independence. As the negotiations between UK and the EU lead to nothing, Scotland voted to leave and declared its independence. Since it had already implemented all EU regulations and satisfied all demands, Scotland was welcomed immediately into the EU, on the condition it will join the Euro zone within 5 years. Empowered by Scotland’s success, Northern Ireland held a similar referendum, with an extra question – join Ireland or become an independent state. They joined Ireland. Welsh nationalism saw a surge after Wales’ surprise victory at Euro 2016. English-Welsh tensions are reaching boiling point, as both countries are set to meet in the semi-finals of Euro 2020 at Wembley. Oddly, these developments “fix” the old mismatch. Scotland, England, Northern Ireland and Wales were always members of UEFA and played international football while technically not being fully independent. As the UK and Britain are now history, the football countries now match UN member countries.
What economy? The economy of England has been annihilated. London banks left to Frankfurt, Paris, Dublin and Amsterdam. The credit rankings of England were slashed, leading to massive rise in national debt and falling pound caused a runaway inflation, only held in check by plummeting housing prices. Having failed to negotiate a trade agreement with the EU, England is now facing steep tariffs and taxes, pushing up the prices for imported goods like food and medicine. With the supply of Europe’s brightest students and staff to English universities cut off, tech companies are fleeing to the continent. Chinese, Indian and American students also no longer come, not wanting to study in a country that is cut off from its continent.
Oh my. Brexit did stop EU immigration into England. With no agreement in place, EU citizens in England were given two years to apply for a job permit or leave. Not that most of them wanted to live any longer in a country plagued by the biggest recession in 300 years. EU countries each set their own rules with regard to English residing there. Most were lenient, bot some viewed the English pensioners as an easy prey and a cash cow, imposing new taxes on their savings and property. Many retirees were unable to meet the new regulations and returned to England, putting an extra strain on the NHS, already desperately understaffed after the doctors and nurses left to the EU. Tensions in Northern Ireland and Scotland caused massive English immigration into England, with the best and most capable choosing for Canada and Australia instead. Young and educated English are massively immigrating to Ireland, Scotland and mainland Europe, usually via the “Scottish route”, where they discover their Scottish roots that grant them the right to Scottish citizenship and free movement in the EU. The flight of the creative class has left parts of London, Manchester and other English cities ghost towns, only partly filled by remigrating pensioners.
All this is of course a doom scenario. The worse that could happen. But I’m afraid even 1/10th of the above will be devastating for England, Britain and possible Europe as well.