Brexit, good or bad idea?

The Daily Journalist community opinion.



Well, it’s official! England voted out of the Euro-zone. A new era begins for the 27 countries that comprise the Eurozone, as the European heavy weight leaves the scene. 

1)      Why did England leave the Eurozone? Did the English view Merkel and Hollande’s as Europe’s sole dictators and decision makers?

2)      Do you agree with England’s departure or disagree?

3)      Now that Brexit is a reality, will other European countries adopt a similar referendum to likewise leave the Eurozone?

4)      Will Europe boil bad blood with England after Brexit?

5)      What are a few consequences of leaving the Euro-zone for England, and Europe?

6)      How will this affect China, and The US?

7)      What would happen to the Euro-zone if France under Le Penn also exited Europe? 

8) Is this affect trade worldwide?



Sebastian Sarbu.

(He is a military analyst and vice-president of National Academy of Security and Defense Planning. Member of American Diplomatic Mission for International Relations)

“I agree with Brexit. The European Union should be able to revive a new policy to reform its institutions.
UK has not agreed with the immigration policy, and also with the economic dependence of the EU. The independence spirit of Great Britain is a conservatory value, one that was successfully implemented because the Britons are very nationalistic and proud people and sometimes national values are more important than other values.

The EU is a bureaucracy. It was an anticipated fact that the risk for the European Union’s success involved the heterogeneity of his construction, of policy and national development of each state member. Germany and France want to assume the EU project and represent their oligarchy. Germany try to exploit the opportunity of Brexit, in the advantage of implementing its own leadership.

Germany wants to impose the older policy of cession of national sovereignty from other state members, like Visegrad. The White House recognized publicly that the European Union should be reformed. In my opinion, it is not dangerous or threat for Europe’s military security.  However, it might be dangerous for the economy, and social security and the solution does not look good.”


John Mariotti.

(He as spoken to thousands of people in the business, professional and university audiences in the US and Europe; he hosted a one-hour talk-radio show on the North American Broadcasting Network, (The Life of Business & the Business of Life); founded & moderated, The Reunion Conference, an annual roundtable/think-tank for 16 years)

“Yes, I agree with Brexit. Because a majority of Brits want it. It’s their decision and they will live with the consequences.

However, UK was a late & reluctant member at best, and doesn’t like taking orders from the continental European group (headed by Germany). No surprise.

It’s not up to me–or Barack Obama. Most people who comment (unless they are Brits) don’t have enough first hand knowledge for an informed opinion.  After the initial shock wears off, life will go on.

The much bigger issue is how Europe is being invaded and taken over by Muslim hordes from Africa and the Middle East–and what to do about that.

That’s at the heart of Brexit–and that is a very big deal (problem).”



Ivan Eland.

(He is Senior Fellow and Director of the Center on Peace & Liberty at the Independent Institute)

“1) Mainly, U.K. voters were angry about the perceived taking of British jobs and other perceived dislocations caused by inflowing immigrants. The British elites probably think that France and Germany have too much power in the EU, but they were largely for staying in.

2) Britain should do what it needs to do, but the long-term ll-effects on Britain, the EU, and the world economies have been overstated. Commercial relationships will reorder, and Britain may be better off in the long-term outside the EU’s stifling bureaucracy.

3) Brexit could have a domino effect. Other nations may be spurred to hold referendums. The block could unravel into a rump organization, but free commerce could continue under other arrangements without the massive EU bureaucracy.

4) Since nations recognize the benefits of free commerce, there will be an incentive to get past any ill-feelings and restructure commercial relationships.

5&6) There will be short-term turmoil in world markets, but since Britain is the fifth largest economy in the world, it will all be sorted out and Britain will still be prosperous in the world economy.

7) Since France and Germany started what became the EU and still drive it, this development would probably kill the EU as we know it. But Europe might be better off ditching the overbuilt EU and euro currency and going back to a free trade area. The euro currency has always been questionable because there is one currency and many national fiscal policies.

8) It will affect world trade and markets in the short term, but in the long term, trade relations will reorder and life will continue.”



Peter D. Rosenstein.

(He is a non-profit executive, journalist and Democratic and community activist. His background includes teaching; serving as Coordinator of Local Government for the City of New York; working in the Carter Administration; and Vice-chair of the Board of Trustees of the University of the District of Columbia)

“1)      Why did England leave the Eurozone? Did the English view Merkel and Hollande’s as Europe’s sole dictators and decision makers?

England left the Eurozone for a number of reasons but I believe the greatest impetus of those who voted to leave was fear of immigrants and anger that they weren’t doing as well economically as they thought they should be doing. Like in many countries there is a large gap in income between those at the top and those at the bottom. In many ways it was a protest vote and most people didn’t understand the consequences of their vote. They thought that voting for nationalism was a good thing for them. I don’t think the average voter in the UK did this as a vote against Merkel or Hollande- most voters most likely don’t even know who they are. This was an irrational vote and we are now seeing that there is a large segment of the population that is already showing remorse over it.

2)      Do you agree with England’s departure or disagree?

I think it makes no sense at all. One can’t turn back the clock- like it or not we are in a global economy and just retreating to your own shores won’t help. Donald Trump is proposing that in the US with his America First campaign and I believe Americans will in the end defeat him by a large margin and reject his anti-immigrant, racist, sexist views.

3)      Now that Brexit is a reality, will other European countries adopt a similar referendum to likewise leave the Eurozone?

I would question the premise of this. The vote on Brexit was simply a referendum and the government doesn’t have to follow thru with it. The remorse over the vote will give many in government, both those for and against it, reason to hesitate. I wouldn’t be surprised if there was a second vote at some time before the UK actually leaves the Eurozone.

4)      Will Europe boil bad blood with England after Brexit?

I think there will definitely be some bad blood and what that will imply is yet to be seen. If the UK actually goes through with this it may be seen in various ways including tariffs on UK goods etc.

5)      What are a few consequences of leaving the Euro-zone for England, and Europe?

If the UK goes through with this they may find Ireland and Scotland have votes to leave the UK and try to remain in the Eurozone. The young people of the UK, who overwhelmingly voted to stay, will find travel restrictions and other impediments to working in the rest of Europe. Trade agreements will have to rewritten, UK workers in the Eurozone and the Eurozone workers in the UK may find problems with their jobs. Obviously the precipitous drop in the pound will impact those in the UK who want to travel and impact imports coming into the country.

6)      How will this affect China, and The US?

I am not sure how it will impact China as I don’t know the level of trade they have with the UK or the Eurozone but clearly any trade agreements they have will have to be rewritten. As to the US with the rise in the dollar it may hurt American companies selling to the UK or other countries- trade agreements will have to be rewritten and the American Secretary of State is already in the UK meeting to talk about this. In the long run if Brexit is carried out, it might be good for the United States as US bonds and other investments will look even safer to the rest of the world.

7)      What would happen to the Euro-zone if France under Le Penn also exited Europe? 

I don’t know the answer to this but I think looking at the results of the Brexit vote in the UK, at the loss of billions of dollars in the UK and how it has hurt the average person, should give the French pause before they do the same thing.

8)      Is this affect trade worldwide?

In the short term it will hurt trade but if it remains new trade agreements will be written and trade will continue – the initial problem will be for stock markets around the world who respond to uncertainty in a negative way. Workers may lose jobs and companies could be hurt until things are clearer.”


Claude Forthomme.

( Senior Editor of Impakter Magazine. Passionate traveller (80 countries+) 25 years experience in United Nations: project evaluation specialist; FAO Director for Europe/Central Asia)

“Brexit is a historic disaster and the 17 million Brits who voted for it were clearly misled by a series of populist, demagogic politicians playing on people’s fears of immigrants and promising to “restore sovereignty”, foremost among them UKIP’s Nigel Farage and the ex-mayor of London, Boris Johnson – both men more intent on advancing their own political career than on defending their country and preserving the British place in the world.

Brexit is bad for the UK economically and politically. The British pound immediately collapsed and the City of London went into a panic. The likelihood of Scotland leaving the UK in order to remain in the European Union suddenly looked very high, and should it happen, its example could be followed by Northern Ireland.

So expect Great Britain to become “little England”.

But Brexit is bad for the EU too: a domino effect is to be feared, especially in France under the chauvinistic impulse of Marine Le Pen, the National Front’s secretary, and in the Netherlands, under Geert Wilder’s Party for Freedom. Other countries who could jump on the bandwagon of referendums are Hungary and Poland.

Referendums, instead of giving voice to the people in a democratic way, have become the tool of choice of populist parties. Hungary’s Orban whose dictatorial manner is causing anxiety across Europe has already announced he’s going to set up a referendum this coming September on the question of refugees, “since Europe won’t deal with them”.

We are entering in a very dangerous phase in Europe, with liberal values increasingly decried, and that should be a matter of concern to America – after all, Europe was (and is) America’s best friend and top ally, and a defender of democratic values across the world.

In fact, for that reason alone – as European values of social justice (including towards refugees) are weakened, Brexit rings an alarm for the whole world, ushering in a period of intolerance, hatred of others and egoism.

That is why Brexit is truly a historic disaster, a step back in time, to that dark period in the 1930s, when, under the mantle of the Big Depression, countries closed in on themselves and Hitler rose on a wave of nationalism, exploiting a desire for revenge for the defeat Germany had suffered in the First World War.  This is the kind of feelings Brexit, a highly emotional vote, has be riding on.”



Steven Hansen.

(Publisher and Co-founder of Econintersect, is an international business and industrial consultant specializing in turning around troubled business units; consults to governments to optimize process flows; and provides economic indicator analysis based on unadjusted data and process limitations)

1)      Why did England leave the Eurozone? Did the English view Merkel and Hollande’s as Europe’s sole dictators and decision makers?

There are a variety of reasons – but it was the immigration issue which was the deciding factor. England was losing its identity.

2)      Do you agree with England’s departure or disagree?

If I were a Brit, I would have voted to leave. No country should be required to change its national identity. Immigration at too fast a rate does not give time to assimilate.

3)      Now that Brexit is a reality, will other European countries adopt a similar referendum to likewise leave the Eurozone?

If there is no change to EU policy – then similar referendums are possible. However, I think there will be enough change in policy to keep the flock together.

4)      Will Europe boil bad blood with England after Brexit?

Once the dust settles and pragmatism sets in, I think the divorce will be very civilized. After all, every country has a stake in a viable UK.

5)      What are a few consequences of leaving the Euro-zone for England, and Europe?

I will bet than NO ONE can accurately guess this answer. My bet is that the consequences will be much less than the current emotionally driven drivel is suggesting.

6)      How will this affect China, and The US?

All change is disruptive – but within a few years adjustments will have been made and it will be business as usual.

7)      What would happen to the Euro-zone if France under Le Penn also exited Europe? 

Ah, we are playing with a “what if” senario. What if a comet hit Germany?

8) Is this affect trade worldwide?

Although there may be some adjustments, I find it very unlikely there is any long term effects of trade.”


Dr. Helmi Hamdi.

(He has a Ph.D. and Master’s degree in Applied Financial Economics from Paul Cezanne University, Aix-Marseille III France. He is currently a Senior Economist at the Central Bank of Bahrain)

“1)   Why did England leave the Eurozone? Did the English view Merkel and Hollande’s as Europe’s sole dictators and decision makers?

‘Let’s be clear and honest since the beginning, England left the Eurozone for one major reason which is immigration. I am not talking about  racism, but English people who supported the Brexit, publicly said in all TVs; Presses and mass media around the world that they can’t bear anymore the massive waves of immigrants in their country. Nevertheless, a recent study by the Deutsche Bank showed that migration actually hasn’t harmed workers in the UK. The second minor reason of leaving the Eurozone (in my personal view)is to restore the sovereignty of the kingdom and to be far away from the directives of Brussels. I am not very convinced about the second reason, declared by many British leaders and citizens.

It is worth recalling that German and France are the two largest Economies in the Eurozone and unlike the UK, both countries adopt the single currency. Therefore, the German chancellor and the French President have been working together since the onset of the global financial crisis to limit its impact of the crises on the Eurozone. The UK was not under the single currency regime, the reason why the most important decisions on Europe have been taken by the German and French leaders.

2)      Do you agree with England’s departure or disagree?

I strongly disagree with the exit of the UK from the Euro area. Nowadays, the Kingdom entered in an uncertain universe without any contingency plan. Even supporters of Brexit confessed that they do not have a Plan B. Otherwise, after Brexit, there is nothing prepared so far: no strategy to follow and no policy to implement.

2)      Now that Brexit is a reality, will other European countries adopt a similar referendum to likewise leave the Eurozone?

Since the announcement of the referendum vote’ results, many European leaders, mostly from the far right political and nationalists parties, asked for an exist form the Euro-area. This includes: France, Italy, Netherland, Norway and many others. However, few days after seeing the first disastrous impact of the Brexit on the UK economy and after acknowledging that supporters of the Brexit did not have yet a plan B, we rarely heard a recall of an Exit in one of the countries cited above. So in my view, no more referendums will be organized in any country in Europe.

5)      What are a few consequences of leaving the Euro-zone for England, and Europe?

So far, the UK has experienced 2 important  exits:

–          Exit from the Euroarea following referendum of June 24th

–          Exit from the 3A rating after seeing the first impacts of the Brexit. (2 notches in one go downgrade by S&P )

In my personal view,  the UK will be facing many other scenarios in the coming weeks or months:

The first scenario will be marked by:

–          Huge movements of delocalization (industry, manufacturing and banks)

–          Massive capital outflows (already billions of Pound left the country)

–          Further currency depreciation, (the Pound is already in its lowest level (% US$) since 41 years so far).

The second scenario: the worst one will be followed by:

–          Bank failure

–          Recession (+ unemployment, weaker PPPs, inflation)

–          Systemic crisis

The Bank of England could intervene by injecting money and launching new sophisticated easing programs.

Finally, the catastrophic scenario is :

The spread of the UK crisis in Europe and to the world to become a global financial crisis. It is worth mentioning that following Brexit, the IMF announced on June 29th  that it will lower growth forecast for German economy. I think that the revision down will also involve many other European countries, notably peripheral countries.

Another fear is the explosion of Great Britain, as Scotland wants to remain in the Euroarea while it is attached to the UK.

7)      What would happen to the Euro-zone if France under Le Penn also exited Europe? 

Despite the increasing popularity of the “National Font” leaded by Marine LePenn, the far right political party will never win the forthcoming national election and  will never get the second position. French people learned many lessons on the 2002 elections where Jean-Mari LePenn passed to the second round of the election. This was a shock to the entire France. Now, if it happen again all of us know that Marine LePenn is a supporter of Frexit and there will be a high probability that she will suggest a referendum on the subject.  If France, the second largest European country, leaves the Eurozone, then it will certainly be the end of the Union and of  its single currency.

8) Is this affect trade worldwide?

Following the Brexit, the UK is forced to rethink of new strategy with its trading partners including those in Europe. Hence, the UK has to implement new trade policy based on its  new status. This could affect the trade and could also see Britain with new trading partners in place of old European ones.”


Halyna Mokrushyna.

(Holds a doctorate in linguistics and MA degree in communication. She publishes in Counterpunch, Truthout, and  New Cold War on Ukrainian politics, history, and culture. She is also a contributing editor to the New Cold War: Ukraine and beyond and a founder of the Civic group for democracy in Ukraine)

“Brexit, in my opinion, was a clear “no” to the imposition of globalization, based on values of trade and money. It was a vote against the power of European neo-liberal bureaucrats that were so unwisely confident that no country can leave their trumpeted ‘economic’ paradise.

European Union is transforming slowly into the ‘United States of Europe” with Germany and to a less extent France calling the shots. Brits have never been deeply integrated into the EU – they kept their own currency; have not been part of Schengen zone; have opposed the creation of the European army. Brits remain a nation with the mentality of ‘islanders’.

Cameron deserves respect for calling this referendum. It remains to be seen whether the British parliament will follow through with the expression of will of British people. But people have spoken. And Brexit showed a deep division within Great Britain. England and Wales voted for exit (that is why I use the name Britain, not only England), while Scotland and Northern Ireland voted for staying. In terms of social composition of voters, Brexit was supported by workers and peasants, and by older population. Youth voted for the “future”, which, according to neo-liberal propagandists, is with the so-called free market, controlled by invisible transnational 1%. Nation-states are not good for this 1%, because national governments are the only institution that has the power to oppose the power of transnational capital, if that nation-state is truly independent. Example of Greece was a very sad illustration of what happens to a country, indebted till the throat to European bankers. We will see what happens with Great Britain.

The official ideology of human rights and multiculturalism, which the neo-liberal leadership and European bureaucrats thrust on peoples of Europe, is hypocritical because it is in the name of this ideology that France, Germany, Spain sent troops to Libya, Syria, Iraq, sowing chaos and destruction. Hundred thousand refugees flooding Europe is a direct and manifest consequence of this short-sighted Western arrogance and self-confidence. At least, if the British government proceeds with the exit, Brits will have more control over their borders and political decisions.

And I think Britain will exit. Even if they wanted to stay, the angry and prompt reaction of Brussels does not really leave Britain a choice. You do not want to be part of our ‘big happy family’? Off you go!

The reaction of Brussels is already evident. The core members of the Union will try to centralize the political power and bring under more control national economies. And the periphery members will obey. The European Union since its inception was built on the alliance of two European heavyweights – France and Germany. The European Union is not homogenous. It is a bulky and clumsy formation, based mostly on economic interests, in spite of solemn declarations of common European values. Crisis with refugees and the reaction of official Hungary and Slovakia, as well as public opposition within Germany and other countries clearly showed that not everybody agrees with the dictate of Brussels to welcome strangers with open hearts and wallets.

I do not think that we will see any other exit from the European Union in the nearest future, unless the whole structure collapses exactly because Europe is not united by any strong ideology, such as nationalism. But the European elites will do everything they can to keep it together. It is in their own interests – to have a free zone for movement of capital, commodities, and labor.

The European Union bureaucrats will hold grudge against Britain for some time, although they will not show it. Reason will prevail, because, after all, Britain is part of free trade zone. As for Britain, it will not suffer that much economically. Britain has a strong economy and finances, and it will not fall into Greece’s trap. Britain is also seen as equal by France and Germany, not as Greece, a poor relative begging for money. Precisely for this reason I do not see any other country leaving the EU soon – they all are too dependent financially and economically on European bankers. As for a possibility of France exiting the European Union, it is a remote one. France is one of the founding members of the European Union, and the majority of French people support it. Marine Le Pen lacks political power to change this.

Brexit is a stunning victory of democracy over capital. The Britain Stronger in Europe campaign had a £6.88m fund, while the Vote Leave had £2.78m, more than twice less. And yet the No vote won. Interests of the part of British capital and British workers and farmers coincided. Britain won in this referendum, and it will win in the long term, because it will have more independence on how to spend its own money and whom to invite within its borders.”



John D. Vernon Sr.

(He has proudly served the United States of America for over 37 years as a Military Officer, retiring at the rank of Colonel,later serving as a Department of Defense civilian, and finally as a Township Supervisor.In 2012, John ran as a Conservative candidate for the U.S. Senate in the Commonwealth of Pennsylvania. He is the CEO, American Warrior Press)

“I think it’s a blinding flash of the obvious that the Brexit vote was a signal by the British citizens that they have had enough with the European Union (EU). This is also a vote of no confidence for David Cameron which is why he announced his resignation.

Whether the Brexit vote outcome is the right thing or not is not for us to say, just like citizens here in the US do not like criticism from non-citizens when we vote on any particular topic. But, only time will tell whether or not it was the right decision, but one thing is for sure.

The Brexit vote outcome was a result of the anger built up in the hearts and souls of the British people much like the colonists of this country did in 1776.

Taxed and forced to accept refugees that have not been vetted by British officials, but rather forced on the population by non-elected leaders in Brussels, Brexit is a modern day revolution.

It is anticipated that once the initial flap of the Brexit is realized, the British currency will stabilize. But the real question is what will happen to the rest of the EU? And, can the remaining countries survive.

Progressives from all over the globe including President Obama have voiced their displeasure with Brexit. This is because they abhor democracy and the voice of the people. To them, big government knows better and open borders is how they envision the world. Unfortunately, terrorists throughout the region get a vote and their goal is the utter destruction of the West.

The British people voted to take control of their destiny. Anyone who thinks otherwise has been asleep at the switch. It was a storm long brewing and will likely sweep across Europe causing political change in many countries. It is this change that many leaders are afraid. Their gig is up and the elites will be deposed.

On the world market scene Brexit will only be a blip on a radar screen. However, for fragile markets like China, Brexit represents uncertainty and for those in the East, uncertainty is not only risky but potentially a wake up call for their own market strategy. I predict in another twelve months, we won’t be talking about the Brexit vote or the the wave of change this decision brought to the EU. We will however be talking about the effects of refugees and their failure to assimilate, as well as the cost countries must shoulder.

For the remaining countries, this facet is what will bring them closer to the brink of economic collapse. This my friends is what we have to fear, not the vote of the majority.”



Nake M. Kamrany in collaboration with Andreas Kallmuenzer, University of Innsbruck, AustriaJessica Greenhalgh, University of Southern California

(He  is an eminent Afghan-American development economist with superior experience in economic development who is held in high esteem by the international development community, Afghan leaders, scholars, the private sector and intellectuals. He has more than 20 publications on the political economy of Afghanistan)

“On June 23, 2016, the Briton voters shocked the world with their vote (49% to 51%) to leave the European Union (EU). The vote of the younger generation was almost 80% in favor of remaining with the EU to 20% for leaving the EU. The puzzling issue in this vote disparity by age is to understand the motivation and incentives of the voter’s bloc. Ostensibly, the vote does not seem to be enhancing Britons economic and political position. The proponents claim to regain Briton’s sovereignty including important national policy decisions and borders based on immigration issue although Britain’s immigrants are legal and can be managed under its current legal system. In contrast, the U.S., for example, has a large number of non-documented residents.  It follows that the incentives of the U.K. voters must have been different than just the immigration issue. Research has shown that the contributions of immigrants to host countries are significant in new skills, cheaper labor, new businesses, and entrepreneurship. Ostensibly, the senior U.K. voters acted emotionally rather than rationally and were yearning to recreate the dignity and global stature of the former British Empire.   

Since the end of WWII, United Kingdom has lost most of its colonies in Africa, Asia and other parts of the world and has lost its former position as a great power.  That inevitable process was explicated in Paul Kennedy seminal book, which explained the inevitability of the rise and fall of great powers. Great Britain was no exception in light of heavy military expenditures that it sustained as an empire and fell into the cycle. It has been on its way to becoming a Small Britain as a victim of a falling empire by the end of World War II.  The former colonies emancipated one by one.   

However, Britons voting to leave the EU is not going to rectify the British downfall, in fact it can be argued that the exist vote is going to be counterproductive. For instance, as a response to the vote, the British pound took a nose dive and the exchange rate vis-à-vis U.S. dollar went down to a 31 year low after the Brexist vote. The pound sterling lost about 11% in value against U.S. dollars. This depreciation leads to higher import costs, most notably gasoline and consumer products, and lower export earnings, assuming inelastic demand for U.K. exports.  Besides, London will no longer be the world’s financial center and thousands of employees in the financial sector will be (or will have to be) seeking employment elsewhere in Europe. British citizen will not be able to move freely throughout Europe anymore, and 2 million British expatriates living across Europe are confronting a sea of uncertainty. They may lose their property rights as local citizens, right to work, own and operate a business and may face a host of regulatory imperatives imposed upon them.  

The “leave vote” has caused Britain without a functioning government and the uncertainty associated thereof raising the issue of how to reverse the “leave” vote including the possibility of another referendum and avoid the invocation of the formal process of divorce from EU under Article 50 of the 2007 Lisbon Treaty.   

In the final analysis, if the “leave” vote is implemented, it would discriminate against the younger population of Britain, whose orientation is globalism rather than nationalism, and who do not wish to leave their privileges to enjoy the freedom of movement, export-import, investment, employment and social interaction with Europe. The “leave” vote, which caused consternation across Europe and political disarray in London, was more emotional than rational and, if possible at all, it must be reversed for the benefit of Great Britain as well as Europe and the world at large.”    

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