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    • Brexit is basically a case of old people sticking it to the young, the same way that climate change denial is doing worldwide. Old people, stuck in the 'good old days', when Britain was a world power, unable to grasp the changing world and UK's position in it have gotten sold on a lie than EU is the root of all evils and they'll be better off without it. Not that the EU is perfect, but a better alternative doesn't exist. EU needs to be reformed, not destroyed.

      Being a European (and not from the UK), I'm kinda ambivalent about Brexit. On one hand, I'm really sorry for all the young people in the UK that will live with the consequences of this terrible self-own. On the other hand, the British (or, more precisely, the English) were never really committed to the idea of the EU, and always demanded (and gotten) special treatment and exceptions to the rules and for that, I'd be glad to see them out. If nothing, then in time when the young, overwhelmingly pro-EU, finally get into power they will be ready to join the EU on an equal footing.

      Interesting times ahead, in any case.

    • Thanks for posting this Richard. As a UK resident, and a middle aged one at that, perhaps my perspective might be of interest.

      I think the basic point to remember is that the UK referendum was not a vote to leave Europe (which is how some more hysterical pundits seems to paint it). Rather, it was a vote to leave the political construct of the European Union.

      The EU has always been a polarising institution. It was, and is, a wholly political creation. Nothing wrong with that, as anyone who values even standards would admit. However, I believe the widening between the polar opposites began to widen with the creation of the single currency which, from a basic economics perspective just does not work in either concept or practice. Whilst capital has proved itself enviably mobile, the other factors of production have not. Mass migration does not prove that labour is mobile.

      Each country in the EU has its own "character", for want of a better phrase. Because of this, and the lack of factor of production mobility, locking members into a single currency could only ever create the fiscal instability we have seen, with northern Europe running large trade surpluses, and several southern states building up serious deficits. Unable to allow their currencies to depreciate (as would have been the case pre Euro), the members will continue to diverge in this sense.

      My feeling is the same as many here; the EU is an admirable idea but imperfectly executed and administered. Reform is necessary, but the bureaucrats in Brussels seem unwilling in this respect. Maybe the UK has to leave in order to create the pressure for future reforms...

    • The latest polls show that Nigel Farage's "Brexit Party" is having more support than Conservatives and Labour combined. Oh my.

      Direct consequence? Pretty sure UK is about to break up, since Scotland will definitely have none of that nonsense.

    • This is so on the nose:

      I cannot imagine what hell it must be like to be a reasonable person living in the UK these days...

    • Here's Charlie Stross with a recap of how things stand now, and what's possibly coming down the line.

      Fun. Unless you live in the UK. Or the EU. Or wouldn't like to see increased likelihood of global economic downturn. Come to think of it, not fun for anybody, except those very well versed in the practice of disaster capitalism.