There Is Nothing In Writing On Brexit

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Didn’t I say to you just a short while ago that those who were predicting the UK would go under as a result of Brexit didn’t have the slightest idea of what they were talking about?

The way things turn out is unpredictable.

Wolfgang Münchau highlights one outcome which is not expected, but which would be a very natural thing to happen:

Meanwhile, an important development is about to unfold that could prove a great opportunity for Britain: Germany’s Social Democrats, partners in Chancellor Angela Merkel’s coalition government, are about to ditch support for the Transatlantic Trade and Investment Partnership — an agreement between the EU and the US. My understanding is that it is now in effect dead. A German veto of TTIP would give the UK and the US a chance to negotiate their own bilateral version.

I would repeat that it is more natural to strengthen ties with the US than to try with Europe, which has miraculously survived thanks to the intervention of the Anglo Saxons in two wars in Europe. One kind of TTIP is dead: but the Europeans cannot stop another one being formed between the US and the UK.

But isn’t there a sense of déjà vu here? Well of course, Anglosaxon liberalism, the only one that exists. Europe has no soul. Germany is ordoliberal, while France is a follower of colbertism, Spain is chaotic and Italy is a theme park. Ireland is an aircraft carrier for US investment, apart from being a Catholic country. And then there is Eastern Europe, orthodox and anti-Catholic in origin and very close to Islam. Ah…and then we have Turkey. The great enigma, moving further and further away from Ataturk, the country’s first and pro-western President.


About the Author

Miguel Navascués
Miguel Navascués has worked as an economist at the Bank of Spain for 30 years, and focuses on international and monetary economics. He blogs in Spanish at: http://