Is stepping back from Brexit an appealing alternative for the UK?
November 2nd, 2017 10:21 am | By admin | Posted In Business News
As Brexit negotiations stall, many are now wondering if the decision was actually a good one and if it wasn’t, the question emerges, is it possible for the UK to take it back?
On September 4th, the E.U. President’s Chief of Staff, Martin Selmayr, said during a conference in Brussels that Brexit was “a stupid decision” and added that it was actually “legally” possible for the UK to withdraw it.
These comments attracted heavy criticism, as many cataloged the remarks as efforts to delay the process, derail negotiations, and evoke further opposition from those who are against it.
Nevertheless, Selmayr’s comments raised questions about the actual possibility of a forget-about-it situation.
To be honest, an evaluation of the pros and cons of Brexit, adding the increasing difficulties of negotiations and the painstaking process of redesigning business, political, and institutional relationships that have been carried out for years with E.U. members, make Brexit looks like a billionaire couple divorce. Stakes are high, legal costs are even higher, and the process sounds like an endless drama.
A recent report from the Organization for Economic Co-operation and Development (OECD) said that a Brexit reversal will actually have a “significant” positive impact on the country’s economic development and growth. Additionally, the institution’s Secretary General commented that “It will be crucial the EU and the UK maintain the closest economic relationship possible”.
Reading between the lines, it appears that she means as closer as not changing at all.
Many businesses are expecting certainty regarding how relationships will look like on a post-Brexit era and negotiations have been very far from drawing those lines. This absence of economic assurance can fuel potential lobbying against the decision of splitting, which will be an undesired scenario for both the Prime Minister and her team, who have recently said in a statement that they want to speed things up!
The so-called “divorce bill” is still a pending and controversial matter on the agenda, and it could be the key element that will define whether things will actually move forward or reach an indefinite “impasse”.
UK citizens should not be surprised if they are asked to draw their ballots once again, as a second opportunity to affirm their willingness to carry on with the process.
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