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Brexit domino : 4 countries tipped to follow UK out of EU in catastrophic

Published by on June 26th, 2020.

  1. At the give up of May, France and Germany announced they’re backing the creation of an EU bond to raise €500billion (£447billion) to reinforce the European economy, seriously weakened with the aid of the coronavirus pandemic. The two leaders, Emmanuel Macron and Angela Merkel, unveiled their proposal in a joint video press conference. If approved, it’d be the first time the bloc has pooled its debt on this manner.

    The measure right away raised objections from the Netherlands, Austria, Denmark and Sweden, known as the “Frugal Four”, who aid the established order of a one-off emergency fund but do now not back debt sharing or a big increase in the EU’s subsequent seven-year budget.


    These four countries regard “mutualised debt” as a mortal risk because it’d open the door to the feared Eurobonds – which means Dutch, Swedish, Danish and Australian taxpayers should become liable for the debt of other international locations.

    The pressure that the pandemic poses on the EU as a whole may paintings in favour of the Franco-German joint concept, though.

    Andrew Watt, head of the unit for European monetary coverage on the Hans-Böckler Foundation, said: “The Frugals, on paper, have a fairly robust position in the experience that this whole element is positioned within the European Union budget.

    However, John McDonnell, who changed into shadow chancellor under Mr Corbyn, was critical of the decision, saying:
    Brexit domino effect: Four international locations tipped to follow Britain out of EU in catastrophic move (Image: GETTY)
    ctp_video, brexit news, brexit latest, european union, eu news, eu latest, emmanuel macron, macron news, Angela merkel, mark rutte,
    French President Emmanuel Macron and German Chancellor Angela Merkel in a videoconference call (Image: GETTY)
    “In practice, though, none of them need to go down in the history books as the u . S . A . that, confronted with a pandemic, in the end those nations have long gone through, allow them to starve.”

    The plan is, nonetheless, a dangerous step as consistent with Pepijn Bergsen, a studies fellow at the London-primarily based assume tank Chatham House, it might spark a Brexit domino effect – at least, in attitudes closer to the bloc.

    In an entry for the London School of Economics (LSE) blog, he wrote: “The similarities with previous British positions in the EU are clear.

    “The Frugal Four Prime Ministers fee their rebates as a lot as Margaret Thatcher once did.

    “It is not an excessive amount of of a stretch to say that the cutting-edge suggestion might in no way have even made it to the table had the United Kingdom nevertheless been a member of the EU, as London might have almost clearly vetoed it.

    “One of the arguments regularly put forward in favour of Brexit turned into that the United Kingdom should leave before it’d unavoidably get roped into the eurozone’s mess.

    Ctp_video, brexit news, brexit latest, eu union, european news, ecu latest, emmanuel macron, macron news, Angela merkel, mark rutte,
    Former Prime Minster Margaret Thatcher (Image: GETTY)
    ctp_video, brexit news, brexit latest, ecu union, european news, european latest, emmanuel macron, macron news, Angela merkel, mark rutte,
    Dutch Prime Minister Mark Rutte (Image: GETTY)
    “During the euro disasterthe United Kingdom in large part averted this fate, simplest contributing to the bailouts of Portugal and Ireland.

    “But having to pay for financial aid for the southern euro international locations is exactly what is now being asked from non-euro countries like Sweden, Denmark and Czechia.”

    Moreover, Mr Bergsen argued, the evaluation with the United Kingdom is likewise instructive due to the fact the Frugal Four were regularly closely aligned with London in EU debates.

    They broadly proportion the British consciousness on free trade and at the EU as an economic project, in place of its political dimension, as Germany extra often has a tendency to awareness on.

    The educational noted: “Just like the UK, the Frugal Four also tend to have distinctly eurosceptic electorates, albeit ones that continue to suggest in polls that they might vote to remain within the EU if requested.

    “The COVID-19 crisis has drawn interest to Italian citizens and their disillusionment with the EU due to the lack of help they experienced during their time of need on this pandemic.

    “As Catherine de Vries, a preeminent scholar of public opinion on European integration showed in this blog, this does not imply they necessarily want to follow the UK out of the EU.

    “If anything, they are instead asking for greater Europe, in part out of dissatisfaction with the functioning in their very own democracy.”

    ctp_video, brexit news, brexit latest, ecu union, eu news, eu latest, emmanuel macron, macron news, Angela merkel, mark rutte,
    Chancellor of Austria Sebastian Kurz (Image: GETTY)
    In contrast, electorates in many of the frugal countries, Mr Bergsen claimed, have a tendency to be rather happy with their countrywide governments and the state of their democracies, at the same time as significantly less enthusiastic about similarly political integration inside the EU.

    He explained: “Governments and politicians inside the Frugal Four largely continue to speak approximately European integration in the way most British politicians used to, using it as a on hand scapegoat for unpopular policy and blustering in Brussels especially to meet their home audience.

    “In the short run, this method has led them to clash with, no longer just maximum of the relaxation of the bloc, however also their preceding ally in the EU – Germany.

    “In the long run, such a approach increases questions over how the Frugal Four will deal with the secular pressure for greater integration within the eurozone, in particular for the Netherlands and Austria as Denmark and Sweden are unlikely to join the unmarried currency each time soon.

    “Even in areas aside from the euro, there might be a push for extra integration.

    “This will create struggle with the imaginative and prescient of the EU that lots of those member states percentage with the United Kingdomthat’s now now not in the club assisting them to beat back in opposition to this path of integration.”

    Mr Bergsen concluded that a clean appreciation in their small size and heft within the world and their deep monetary integration with the rest of the EU might discourage them from following the United Kingdom out of the union.

    However, the current episode once again highlights “the issue of deeper integration” between countries with a totally different imaginative and prescient for the future of the EU and a political class “unable, or unwilling, to try and shift their electorate’s stance on Europe”.




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