Andy Burnham’s Rejoin fantasy, by Wolfgang Munchau (
@EuroBriefing)
If Burnham asked for my advice today, I would tell him: don’t look at the polls. Don’t worry about ‘Bregret’ or Labour Party politics. Look instead at the state of the EU, which has changed dramatically since 2016.
Right now, the EU is not a club you’d want to join. In fact, the sensible Icelanders recently voted against pursuing EU membership. Despite barely surviving the Eurozone’s sovereign debt crisis, the EU never bothered to fix the underlying problems that triggered it, such as a fragmented banking system and the lack of a common capital market. Now another sovereign debt crisis could soon be on the horizon, with French interest rates going through the roof.
And if the polls are right about France’s presidential election next year, the political centre might shrink or even disappear as a political force, leaving France and the Eurozone under the influence of the far-Right. Does Britain really want to be in the same club as President Marine Le Pen or Chancellor Alice Weidel?
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