Skip to main content

Patten92_Andrew McCoy_SOPA Image_LightRocket via Getty Images Andrew McCoy/SOPA Images/LightRocket via Getty Images

The Real Threats to the EU

The European Union must address a slew of challenges – from immigration to eurozone reform – that risk causing systemic problems lethal to the bloc. Given this, sensible leaders can be forgiven for politely sending the UK on its way, and focusing their attention on threats to the EU’s long-term cohesion and fundamental values.

LONDON – In the United Kingdom, Brexit looms large, with everyone from government ministers to tabloid newspapers frothing daily about the deal that will be struck with the European Union and the effects that it will have. But the EU faces too many pressing challenges to be obsessing about Britain.

The UK’s concern is understandable: evidence is mounting of the likely damage a departure from the single market and customs union will do to the UK economy. According to new research from the Centre for European Reform, the UK economy is already 2.1% smaller than it would have been had voters chosen to remain. The hit to public finances totals £440 million ($579 million) per week.

The lack of information about how Brexit will play out has businesses worried. The CEO of Siemens UK, Jürgen Maier, recently urged British leaders to clarify how trade with the EU will work, urging them to ensure that the country remains in the customs union. Airbus has warned that a “no deal” outcome would force it to reassess its long-term position in the country, putting thousands of British jobs at risk. BMW has affirmed its commitment to remaining in the UK, but warned that costs could rise.

We hope you're enjoying Project Syndicate.

To continue reading, subscribe now.

Subscribe

Get unlimited access to PS premium content, including in-depth commentaries, book reviews, exclusive interviews, On Point, the Big Picture, the PS Archive, and our annual year-ahead magazine.

https://prosyn.org/MEGfiLI;
  1. drew47_Drew AngererGetty Images_trumpgiulianasmiling Drew Angerer/Getty Images

    Will Trump Be Removed from Office?

    Elizabeth Drew

    Assuming the US House of Representatives votes to impeach President Donald Trump, the fact remains that there are far fewer votes in the Senate than will be needed to convict him and remove him from office. But the willingness of Congress – including the Senate – to continue tolerating his dangerous conduct is now truly in question.

    0
  2. rudd9_Darrian TraynorGetty Images_climateprotestburningaustralia Darrian Traynor/Getty Images

    Unsustainable Australia

    Kevin Rudd

    Before the current conservative government came to power in 2013, Australia was well-positioned to make the necessary transition to a low-carbon economy. But now, the country is heading in reverse, and has already fallen behind most developed countries, and even China, on reducing emissions and building resilience against climate change.

    1

Cookies and Privacy

We use cookies to improve your experience on our website. To find out more, read our updated Cookie policy, Privacy policy and Terms & Conditions