British central bankers have pointed out that Brexit is exacerbating the current misery in Great Britain.
(Photo: Moment/Getty Images)
No, the conservative government in London will not withdraw Brexit and replace it with a cooperation agreement with the EU based on the bilateral agreements with Switzerland. The new British Prime Minister Rishi Sunak may be a pragmatist, but he is not a political suicide. That’s why he quickly denied a media report about a “Swiss model”. Not even the opposition Labor Party dares to reopen the Brexit barrel and, for tactical reasons, promises to “make Brexit a success”.
Switzerland is also not a good role model for the British to get closer to the EU, because the Confederates themselves have caused a crisis in relations with Brussels since the negotiations on a new framework agreement with Brussels were broken off.
And yet the heated debate in Great Britain about the “Swiss model” shows that the few advantages and many disadvantages of the exit are being discussed again in the crisis-ridden kingdom. Finally.
Without an honest debate about its relationship with the EU, Britain will never get a grip on its chronic economic problems. So it is no coincidence that the Brexit debate is flaring up again just as the country is in the deepest crisis for more than 50 years.
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On Monday, the powerful industry association CBI called on the government to open the borders more to professionals from abroad and called for a quick end to the ongoing dispute with Brussels over the Northern Ireland Protocol. At the same time, CBI boss Tony Danker cleared up the myth that purgatory of old EU rules would unleash the British economy. The biggest obstacles to more growth are homemade.
Central bankers and economists take stock of the damage after Brexit
British central bankers had previously pointed out that Brexit was exacerbating the current misery in Great Britain. The non-partisan Office of Budget Responsibility (OBR) predicts that the exit will lead to a 15 percent reduction in trade intensity with the EU in the long term. Even in conservative newspapers such as the “Daily Telegraph”, the Brexit is now being discussed controversially in the light of the increasingly obvious damage balance.
However, before the next general election in Great Britain, which must take place in January 2025 at the latest, nothing will change in the Brexit dilemma. The ruling Tories would not survive another split in the party over Europe. And Labor will savor the looming crucial test between economic sanity and political ideology among the Conservatives in the tacit hope of political gain.
More: London is considering EU relations based on the Swiss model.