Pandemonium and Upheaval as World Responds to UK’s Brexit

Pandemonium and Upheaval as World Responds to UK’s Brexit

Cameron resigns, markets roil, and right-wingers cheer as Brexit becomes reality

goneBy Nika Knight, staff writerCommon Dreams – Friday, June 24, 2016

In the wake of Britain’s unprecedented vote to leave the European Union on Thursday, the initial wave of reaction was tumultuous: Prime Minister David Cameron resigned, global markets plunged, and right-wing leaders across Europe cheered—stoking fears that other nations may hold similar referendums to depart the EU in the future.

“The British people have made the very clear decision to take a different path and as such I think the country requires fresh leadership to take it in this direction,” Cameron announced to the press on Friday. “I do not think it would be right for me to be the captain that steers our country to its next destination.”  Read more link below >>>

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  • Clyde Duncan  On 06/25/2016 at 3:33 pm

    BREXIT: Leaveniks have it. What next? – by M K Bhadrakumar

    The unthinkable has happened with the United Kingdom voting to leave the European Union. (BBC)

    Arguably, this is potentially the most serious development in world politics since the collapse of the Soviet Union. (Curiously, both catastrophes happened ‘voluntarily’.)

    What lies ahead? Let me outline three concentric circles – Britain’s future comes, of course, in the First Circle; followed by the fate of Europe in these uncertain times; and, enveloping the above two circles, the shift in the ‘co-relation of forces’ in the international system and world politics.

    Unsurprisingly, David Cameron has done the honourable thing – drawn a line under his public life as a statesman. He made a disastrous miscalculation by assuming that the conservative British people will never want to take a peep into the abyss. Well, they have, and he needed to resign. Three cheers for British democracy.

    More importantly, however, the verdict itself is such a fractious and contentious one that it opens ancient wounds in Great Britain’s gory history. Scottish and Irish nationalism will inevitably rear their heads and militate against Britain’s departure from the European Union. So, how long can Britain survive in the present form? That is the troubling question.

    Second, the British vote also strikes chords within other EU member countries – especially in Germany, Italy, Netherlands, Poland and so on. There is a pervasive weariness over the EU, accentuated by more or less the very same grievances that Brits have harboured – over migration, loss of sovereignty, security concerns, decline in welfare system and austerity, economic inequality, and so on.

    So, what happens if the EU unravels? This is the second question.

    If we go back in time and recall the impetus behind the European project as such, we are bound to come across ancient ghosts that the continent had desperately needed to bury but are still around – the great mutual revanchism between the peoples of France and Germany dating back to the 16th century, in particular. It is vital that the European project survives to ensure that those ghosts of history remain forever in the burial ground.

    Even if EU doesn’t unravel, Britain’s role as a ‘balancer’ will be keenly missed. A new equilibrium will need to evolve. Which is not easy since Germany is already much more equal than the others in the tent.

    So, will the German question, the most daunting spectre of modern European history, resurface? This is the third question.

    In the international system, there is certainly going to be much volatility. Britain’s exit from EU deals a body blow to the USA trans-Atlantic leadership. Indeed, there is no alternative but to mothball the Trans-Atlantic Partnership Agreement. It was meant to be a ‘platinum grade’ FTA, as John Kerry once put it. Washington may now have to settle for whatever is available, which may be no FTA. The advantage goes to China and Russia.

    Beyond that comes the USA geostrategy. Certainly, if Moscow is wringing its hands with pleasure today, there is good reason for it. A dishevelled, disoriented Europe makes a weak negotiating partner for Russia. Combined with the strong ‘Russian lobby’ within Germany (and France, Italy and Greece, etc.), it becomes highly problematic for the USA to keep the sanctions against Russia going.

    So, will the USA containment strategy against Russia be sustainable for long? This is the fourth question.

    Then, there are the unavoidable fallouts – euro’s uncertain future, for instance, and the concomitant turmoil in exchange rates; or the decline of London (‘The City’) as the world’s financial capital; or the capacity of the USA dollar to retain its status as the world currency; or the surge of the yuan; or the investment flows in general, etc.

    The post-cold war multipolar order rests on four key pillars – USA, China, EU and Russia. If one pillar becomes shaky, the architecture weakens. Serious repair and renovation work will need to be undertaken. But the big-power rivalry doesn’t easily allow that.

    The good thing is that this momentous development has happened before Hillary Clinton and her neoconservative retinue moves into the White House in January. It comes as a badly-needed reality check for them on the serious limits to USA power in world politics.

  • Clyde Duncan  On 06/25/2016 at 9:44 pm

    Finally, we return to a matter we’ve raised periodically the last few weeks: The BREXIT vote yesterday was, after all, an “advisory” referendum. It’s NOT binding.

    Sure, it can take down Prime Minister David Cameron — but it can’t force Parliament to do something it doesn’t want to do.

    Here’s an email from a reader that came in before the outcome was known: “I believe the elites can control events and populations much easier through NGOs or other quasi-governmental agencies established via democratically elected legislatures or parliaments. Think the U.N., EU and central banks.

    “And when any of those entities are threatened, the elites call on their allies (witting or unwitting) in government, the media and elsewhere, to see that no changes occur with which they do not agree.

    “Recent examples are the gold vote in Switzerland, the Scottish vote in the U.K. and Greece’s EU retention. I will be very surprised, nay shocked, if Britain escapes the EU. As Jim Rickards said, if it’s really important, they would not leave it to a vote. The British Parliament is the ace in the hole if the voters elect to leave.

    “And if, by some queer twist of fate, such an event as Britain leaving the EU or some future unforeseen event should occur that threatens to weaken or destroy any of these elite entities, we will have a major military conflict somewhere on the planet that will just result in lesser individual freedoms and more population controls.

    “In sum, the average citizen is consigned to marionette status. But in large measure, it’s our own fault. We are too willing to entrust our finances, our welfare, our health or our spiritual lives to someone else. Walt Kelly was soo right-on when he said through his character Pogo, ‘We have met the enemy and he is us.’”

    The 5: Now there’s some depressing food for thought…

    Dave Gonigam
    The 5 Min. Forecast

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