a reply to: Akragon
What do you do? Purposefully keep yourself ignorant?
I don't make much effort to watch TV either, but even I know what the Brexit is. It's very simple. Back about a decade or two ago, a lot of the
Western European nations signed into an economic union they called the EU (European Union). It has since attempted to mold itself into something like
a United States of Europe, only with a bigger, more totalitarian bureaucratic central authority that no one really votes for. It's all just appointed
and it regulates everything into the ground.
The goal has been to basically bring the European countries down to where they function more like our states and less like actual countries, and
they've added Eastern Europe to the mix since.
My husband is in the position at his job where he has to deal with one tiny aspect of this so-called Union on a daily basis, and just based on his
experiences with it, he has been predicting for a while now that the EU was likely doomed to fail because it's a mess. He can't imagine that any other
aspects of it are any less convoluted than what he sees and deals with daily at his job. It makes our American alphabet bureaucracy look like a baby
in diapers, and we all know that thing needs to be paired down to size.
So the Greeks had a referendum on leaving this monstrosity a while back that failed.
But last night, the UK voted and their version passed. So now the UK is out of the EU or preparing to leave it. As one of the largest trade and
political entities on earth loosing a large economy that was enmeshed with it, this is going to cause some global rippled while all the trade, legal,
and political ripples are hammered out. And these ripples are going to likely echo worldwide.
The upshot for the UK is they gain more direct local control of their own affairs. They also gain back their local currency and the ability to control
it. Part of Greece's problem is that their economy is chained to Euros. If Greece had their own native drachma and local economy back, they could
manage their current economic woes a little better by manipulating the value of the drachma relative to other currencies, but being tied to the Euro
doesn't allow them that outlet and people suffer for it.
So I guess we'll. I guess one bright side is that I really don't see the rest of the EU raising an army and going to war on the UK for leaving like
the US likely would on any state that were to secede. For one thing, the UK has the might of the EU military. However, they might attempt economic
warfare, and that could create global economic chaos.