Brexit Fever in the EU

Brexit Fever Spreads Across Europe: Who’s Next? Visual Capitalist | On July 1, 2016, Europe’s got a fever, and the only prescription is… more referendums.

Eurasia Group, a geopolitical risk consultancy, shared this map today after analyzing EU countries for the potential of further Brexit-like events:  See map at http://affluentinvestor.com/2016/07/brexit-fever-spreads/

{Austria and the Netherlands are first on the list to watch for EU exit activity.  The second group includes France, Italy Czech Republic and Denmark. The third group includes Germany, Poland, Slovenia, Hungary, Greece, Sweden, Finland, Portugal and Ireland.  Exit chatter isn’t as strong in the other EU countries}

It’s not the type of quantitative data we usually seek, but in this case we’ll make an exception – Eurasia Group, headed by Ian Bremmer, is the largest political consultancy in the world.

 

Austrout or Nexit?

According to Eurasia’s analysis, the two countries that are most likely to have referendums on EU membership are Austria and The Netherlands.

It’s been 20 years since Austria held the referendum to initially join the EU. However, according to a pre-Brexit poll, nearly 40% of the population now wants to hold a referendum to leave.

“Europe can collapse because of the refugee crisis and uncontrolled immigration,” says Sebastian Kurz, the Austrian Foreign Minister. “Only by a speedy transformation can we prevent a wildfire. The EU needs to be rearranged.

Everyone, who is for Europe, also needs to be a force in making the necessary changes.” In other words, there must be fast, sweeping changes to their arrangement or they are out. Unfortunately, making fast, sweeping decisions is not what the European Union is known for.

The Dutch share a similar sentiment. Despite Netherlands being a founding member of the EU and currently holding the EU presidency, a June poll showed 54% of people want a referendum to leave. So far, in a theoretical vote, the independence camp is leading with 48% of the vote, while 45% would seek to remain in the EU.

 

What’s Next?

While Eurasia Group sees Austria and the Netherlands as the frontrunners for the next referendum vote, there are many other dominoes that could fall. France, Italy, and Sweden are among the key countries that have strong Eurosceptic movements.

If a Brexit result was a tinderbox that got the fire going, then any major developments in these countries could be the gasoline. Another “exit” event would make clear to everyone that there is an inevitability of failure around the Union.

Brexit negotiations and populist dissent will be in the news for some time, and markets will be volatile, extremely sensitive, and over-reactive as a result.

http://affluentinvestor.com/2016/07/brexit-fever-spreads/

Comments

The BREXIT vote should rattle the EU into stopping the UN Refugee Resettlement program, setting up resettlement in Muslim countries, suspending the plan to totally destroy member country sovereignty and backing off their “one size fits all” policies.  In their stupidity, the EU has initiated the second great Muslim invasion of Europe since the middle ages. 

They EU may still be able to stop the exit movement by backing off on the most destructive policies. If they can avoid total obliteration the EU Communists can back off some policies and hold the rest.  The Communist playbook includes taking a break for now to come back later to advance the cause. 

Norb Leahy, Dunwoody GA Tea Party Leader