The EU has been on shaky ground since the financial crisis of 2008. Some individuals have even postulated that nations like Italy, Spain or Greece could eventually opt out of the Union. Mainstream news pundits to play down this likelihood as the current consensus among the elites is that the world will become increasingly more interconnected; the EU simply being a step along in that direction. However, the spectre that a nation may willingly leave the EU has been raised. This time though it comes from the British Isle with UKIP performing very well in the latest rounds of elections.
We could very well see the dissolution of the EU come, not from one of the mismanaged countries of the Mediterranean, but from our British cousins north of Europe. It shouldn't be too surprising when the UK only ever put their foot in the door, they maintained their monetary sovereignty, and their long history of resistance towards Continental Europe. There may be hope for Great Britain yet.
Friday, May 3, 2013
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About Me
- Cogitans Iuvenis
- Seattle resident whose real name is Kevin Daniels. This blog covers the following topics, libertarian philosophy, realpolitik, western culture, history and the pursuit of truth from the perspective of a libertarian traditionalist.
My first thought to this was "It's already too late for a country that has a large, unassimilated muslim minority to fully regain its lost stature." But after some digging I saw that the UK is 85% English. Perhaps it is a good thing that minorities have not fully integrated, as it would make it easier for them to return to their native countries. England seems better off than most of its rivals.
ReplyDeleteFor now it looks like all developed countries are going through major demographic and economic turmoil. As populations age, consumption will collapse as people struggle to save for retirement and credit dries up from banks deleveraging. With that will be the collapse of asset values, which are currently being inflated by central bank policies by pushing people away from bonds and traditional savings and into housing and equities. It seems as though everyone is doing this right now, and these policies of low interest will keep personal savings and consumption low for some time. I would expect much of the world economy to mirror Japan during its lost decade. Eventually asset values will have to collapse, and productive investment free of central bank intervention will continue once again. Hopefully by that time the world banking system will have earned its way out of insolvency. This will probably be a time of great struggle, and may cause a paradigm shift on economic and social policy. The countries that are the least-messed-up will likely prevail. Given the success of Anglo culture in building resilient civilizations, I still have faith in their return.
By the way, are you planning on doing more posts analyzing potential "exit nations"? I enjoyed the first post which described the trade dependence of various nations.
ReplyDeleteI do. I plan on starting with Brazil.
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