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Brexit brink will impact Global Economy

Brexit brink will impact Global Economy

The UK is driving towards the new deadline haphazardly. Its actions will impact the global economy  

The United Kingdom (UK) is now in the midst of a full-blown Constitutional crisis with the new Boris Johnson-led Government deciding to prorogue Parliament. This might have been scandalous in other times, especially as the Government has a majority of just one, and could have led to “horse-trading” as several Constitutional experts in the UK have warned. But with Britain also rushing headlong towards the October 31 deadline to leave the European Union (EU), there’s no room for such machination. One can only imagine the volume of screaming and shouting had the Government in India tried to prevent Parliament from discussing something of paramount national interest. Comments by several British parliamentarians from the Opposition as well as the ruling Conservative Party, including the Speaker of the House of Commons, have been of surprise and outrage. For students of British history, it appears that another schism has emerged between Parliament and the Executive, which goes back before the English Civil War.

And while there is no risk of a violent second civil war, the country is hugely divided, politically, socially and economically. Yet, it is also clear that the vote on leaving the EU must be honoured — for better or worse. The problem is that several parliamentarians are rightly scared about the “for worse” option, particularly about a “no deal” transaction with the EU. This would, some fear, lead to a land border between British Northern Ireland and the Republic of Ireland as well as Customs and immigration chaos. There is no resolution as yet about the status of European citizens living and working in the UK as well as what will happen to British citizens in Europe. And with just about 60 days to work out a solution, Johnson must have felt that he could have done without the distractions of a deeply divided Parliament. What he might have created though is a monster and united the several warring factions inside the Houses of Westminster into a cohesive unit. Negotiating deals is not as easy as composing tweets or even campaigning, both things that Johnson is very good at. Dealing with hard-nosed bureaucrats of the EU and trying to extract concessions is even tougher. It appears Johnson has borrowed some tactics from Pakistan, which regularly negotiates with a gun to its head, as a commentator once aptly said. The UK, which sowed the seeds of conflict in the Levant, South Asia and Africa, finds itself in a bind and the rest of the world, particularly those that have once been part of the empire, cannot help but feel what the Germans call schadenfreude.

Writer & Courtesy: The Pioneer

Brexit brink will impact Global Economy

Brexit brink will impact Global Economy

The UK is driving towards the new deadline haphazardly. Its actions will impact the global economy  

The United Kingdom (UK) is now in the midst of a full-blown Constitutional crisis with the new Boris Johnson-led Government deciding to prorogue Parliament. This might have been scandalous in other times, especially as the Government has a majority of just one, and could have led to “horse-trading” as several Constitutional experts in the UK have warned. But with Britain also rushing headlong towards the October 31 deadline to leave the European Union (EU), there’s no room for such machination. One can only imagine the volume of screaming and shouting had the Government in India tried to prevent Parliament from discussing something of paramount national interest. Comments by several British parliamentarians from the Opposition as well as the ruling Conservative Party, including the Speaker of the House of Commons, have been of surprise and outrage. For students of British history, it appears that another schism has emerged between Parliament and the Executive, which goes back before the English Civil War.

And while there is no risk of a violent second civil war, the country is hugely divided, politically, socially and economically. Yet, it is also clear that the vote on leaving the EU must be honoured — for better or worse. The problem is that several parliamentarians are rightly scared about the “for worse” option, particularly about a “no deal” transaction with the EU. This would, some fear, lead to a land border between British Northern Ireland and the Republic of Ireland as well as Customs and immigration chaos. There is no resolution as yet about the status of European citizens living and working in the UK as well as what will happen to British citizens in Europe. And with just about 60 days to work out a solution, Johnson must have felt that he could have done without the distractions of a deeply divided Parliament. What he might have created though is a monster and united the several warring factions inside the Houses of Westminster into a cohesive unit. Negotiating deals is not as easy as composing tweets or even campaigning, both things that Johnson is very good at. Dealing with hard-nosed bureaucrats of the EU and trying to extract concessions is even tougher. It appears Johnson has borrowed some tactics from Pakistan, which regularly negotiates with a gun to its head, as a commentator once aptly said. The UK, which sowed the seeds of conflict in the Levant, South Asia and Africa, finds itself in a bind and the rest of the world, particularly those that have once been part of the empire, cannot help but feel what the Germans call schadenfreude.

Writer & Courtesy: The Pioneer

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