Brexit and Its Likely Consequences

A- A A+

Now that the United Kingdom decided to leave the European Union we should expect to see this momentous event will have unrivalled consequences on political, economic, social and security dynamics of life inside the UK and beyond. Analysts and pundits have been discussing the likely consequences of Brexit quite for some time. One thing common to such academic and commentary frenzy on the Brexit question has been that many informed analyses expected that the British people would eventually cast their votes in favour of the United Kingdom remaining inside the EU. Think-tankers, commentators, scholars, statesmen and key decision makers across the globe predicted that the forces of globalization would eventually supersede the parochial forces of nationalism in one of the most globalised countries on earth and Britain would continue to derive benefits from its membership in the EU. After all, the future of Britain’s membership in the EU was boiled down to the question of whether the forces of globalization would survive against the growing salience of nationalist delirium across the globe. To many circles, both the common sense of the British people and the strategic encouragement and political wishes of global elites would ensure Britain’s presence inside the EU. Worth noting is that such global celebrities as the US President Barack Obama visited the United Kingdom and lent their support to pro-remain campaigners. That said the Brexit decision in the referendum held on June 23 should come as a surprise to many outside the country. It is now the time to ponder on the likely consequences of the Brexit decision in the years to come.

 

‘Unchecked deregulation of economic markets’, ‘centralization of economic and political decision making processes at supranational levels’, ‘opening of boundaries to outsiders’, ‘the corrosive impact of outsiders on national culture and communal values’, ‘the growing wealth gap between globalised elites and technocrats on the one hand and the working people employed in the traditional manufacturing sectors on the other’, ‘the gradual erosion of national sovereignty against transnational centers of loyalties’, ‘the growing feeling that the people on the street are no longer in command of their lives’, ‘increasing terrorist attacks and the growing appeal of religious extremism’ and finally ‘signing on to the United States’ liberal hegemonic policies endowed with liberal internationalist instincts’ seem to have all contributed to the Brexit outcome.

AUTHOR'S OTHER ARTICLES

Back to Top