In regards to Brexit, Financial Times writer Wolfgang Münchau says “There is no point doubling down on economic arguments”. Then he goes on to explain How to Get Britain Back Into the EU.
Note to Münchau: You are in Fantasyland.
Interestingly, Münchau offers three pieces of sound advice before not explaining what the headline says he will.
Münchau Advice to Remainers
- Accept the referendum
- Stop being angry
- Take your opponents more seriously
Münchau is correct on all three points. But then Münchau notes that if the UK ever did rejoin the EU, that it would be “full monty” under Article 49,
“with the euro, the Schengen zone, EU involvement in home affairs, no opt-outs, and no budget rebates”.
Assuming Münchau is correct on that score, and I believe he is, there is no path for the UK in the EU.
It would be crazy to divorce then capitulate on everything, especially when the Eurozone is highly unlikely to survive in its current state, if at all.
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Mike “Mish” Shedlock