The ripples from Britain's decision to leave the EU keep spreading. The most immediate shocks, of course, are being felt in the UK. Michael Harris writes:
David Cameron and his government, gone; Britain’s senior EU official, Jonathon Hill, gone. Aflame with divorce anger, European leaders wanting the UK out of the marital home tout de suite. More than a million Europeans living in London potentially gone. The opposition Labour Party in chaos with half the shadow cabinet resigning after millions of voters rejected Labour leader Jeremy Corbyn’s injunction to stay in the EU. And the unthinkable prospect of a Donald Trump/Boris Johnson transatlantic political axis.
On the economic side, Moody’s lowered the UK’s “outlook” from stable to negative. Overnight, Britain slipped from the fifth-largest economy in the world to sixth, leap-frogged by France. The pound dropped like a stone. There are reports that Brexit wiped out $2-trillion in wealth, though it is far from certain whether those assets were made of anything more substantial than paper.
And then there is Scotland. Scots recently voted against independence largely because they were told that if they split with the UK, they would also be splitting with the EU. Now that Scotland has apparently lost the highly valued EU connection, there has been an immediate call for a second vote on independence. In fact, Scottish First Minister Nicola Sturgeon is threatening to veto the Brexit vote, and directly lobby EU member states to allow Edinburgh to remain inside the pan-European trading bloc.
The United Kingdom may soon be a thing of the past. And, likewise, the EU -- at least as it is presently constituted -- may soon be assigned to the dustbin of history:
The whole European shooting match is now in play. What is to stop hard-right nationalists in places like France and the Netherlands from demanding a referendum of their own on their futures in the EU? There is already the same anti-immigrant sentiment in those countries waiting to be exploited by native populists cut from the same cloth as Boris Johnson and Michael Gove.
Both countries will be facing elections next year and it’s a safe bet that leaving the EU will be front and centre on the political agendas, pushed by National Front vice-president Florian Philippot in France, and the Freedom Party in the Netherlands. And they are not the only countries that might be thrown into chaos by the euroskeptics taking heart from the Brexit vote.
The Wall Street Journal reports that the political opposition in Sweden has been inspired by Britain bailing out of Europe. Opposition leader Mattias Karlsson told the WSJ the British vote was inspiring and that, “We will start campaigning for a Swexit.”
Likewise with Italy’s Northern League and its leader Matteo Salvini. He said that it’s time Italians had the chance to pass their own judgement on EU membership. Salvini, who is an unabashed Trump supporter, is known for his vitriolic attacks on migrants, and his praise for the “good works” of fascist Italian dictator, Benito Mussolini. Trump in turn has expressed his hope that the Northern League leader will be the next prime minister of Italy.
The world is being remade -- and whether or not it will be for the better is entirely uncertain.