Mr. Stross looks at the most likely effects this would have. Basically, Britain would see its foreign trade dry up and wouldn’t really gain any real independence, and considering that the UK is such a financialized economy at this point, getting cut out of free trade pacts don’t sound all that good.

It does seem pretty clear that the UK’s deeply hated leaders are hoping to use Europe as a way of keeping attention off of the inability of their one-dimensional austerity strategy to prove results. The only question is whether or not it has enough juice to accomplish this, and I’m skeptical. It’s shrewd in its way, but it’s buttressing an essentially reactive economic strategy at this point, and that’s the biggest fundamental. It could wind up being Cameron’s “self-deportation” moment I suppose.

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  1. Matmos says:

    Do not underestimate how reactionary and nationalistic the UK voting public is. I was shocked — shocked I tell you — at some of the “furriners coming to steal our jerbs” stuff I heard whilst there.

  2. Metavirus says:

    point of order: brits would vehemently deny that they’re “part of europe” :)

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