Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
Bitcoin Gravy Train Trend Forecast to June 2025 - 24th Nov 24
Stocks, Bitcoin and Crypto Markets Breaking Bad on Donald Trump Pump - 21st Nov 24
Gold Price To Re-Test $2,700 - 21st Nov 24
Stock Market Sentiment Speaks: This Is My Strong Warning To You - 21st Nov 24
Financial Crisis 2025 - This is Going to Shock People! - 21st Nov 24
Dubai Deluge - AI Tech Stocks Earnings Correction Opportunities - 18th Nov 24
Why President Trump Has NO Real Power - Deep State Military Industrial Complex - 8th Nov 24
Social Grant Increases and Serge Belamant Amid South Africa's New Political Landscape - 8th Nov 24
Is Forex Worth It? - 8th Nov 24
Nvidia Numero Uno in Count Down to President Donald Pump Election Victory - 5th Nov 24
Trump or Harris - Who Wins US Presidential Election 2024 Forecast Prediction - 5th Nov 24
Stock Market Brief in Count Down to US Election Result 2024 - 3rd Nov 24
Gold Stocks’ Winter Rally 2024 - 3rd Nov 24
Why Countdown to U.S. Recession is Underway - 3rd Nov 24
Stock Market Trend Forecast to Jan 2025 - 2nd Nov 24
President Donald PUMP Forecast to Win US Presidential Election 2024 - 1st Nov 24
At These Levels, Buying Silver Is Like Getting It At $5 In 2003 - 28th Oct 24
Nvidia Numero Uno Selling Shovels in the AI Gold Rush - 28th Oct 24
The Future of Online Casinos - 28th Oct 24
Panic in the Air As Stock Market Correction Delivers Deep Opps in AI Tech Stocks - 27th Oct 24
Stocks, Bitcoin, Crypto's Counting Down to President Donald Pump! - 27th Oct 24
UK Budget 2024 - What to do Before 30th Oct - Pensions and ISA's - 27th Oct 24
7 Days of Crypto Opportunities Starts NOW - 27th Oct 24
The Power Law in Venture Capital: How Visionary Investors Like Yuri Milner Have Shaped the Future - 27th Oct 24
This Points To Significantly Higher Silver Prices - 27th Oct 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Brexit Contagion?

Politics / European Union Jun 26, 2016 - 02:51 PM GMT

By: Stephen_Lendman

Politics

Euroskepticism isn’t confined to Britain. According to a Pew Research (PR) study conducted in April and May, it’s on the rise in other European countries.

“The British are not the only ones with doubts about the European Union,” said PR’s Bruce Stokes. “The EU is again experiencing a sharp dip in public support in a number of its largest member states.”

French and Greek anti-EU sentiment is greater than in Britain. Significant numbers of Germans, Spaniards, Swedes, Dutch citizens, Italians and others across Europe lost faith in a system harming their economic well-being, along with how Brussels is handling the refugee crisis.

Majorities in Britain and Greece, “along with significant minorities in other key (EU) nations, want some powers returned from Brussels to national governments,” said PR.

Sentiment is evenly split. A slight 51% majority of respondents view the EU favorably. “A median 42% in these 10 (largest) nations want more power returned to the their national capitals…”

Only 19% “favor giving Brussels more power.” A fourth of respondents prefer the status quo. Over two-thirds call Brexit a bad thing.

Anti-EU sentiment grew as economic conditions deteriorated, exacerbated by neoliberal harshness, paying bankers first, and disapproval over “Brussels handling of the refugee issue.”

The 1957 Treaty of Rome founding EU document obligates its initial six member states and subsequent ones “to lay the foundations of an ever closer union among the people of Europe.”

Early this year, UK Prime Minister David Cameron got Brussels to exempt Britain from the Rome Treaty’s “references to ever closer union” among member states.

Disagreement over centralized governance v. devolution prevails across Europe. According to PR, majorities in six of its 10 surveyed countries support greater independence.

“(L)ittle enthusiasm” exists for empowering Brussels more than already - 6% in Britain, 8% in Greece, 34% in France, the strongest backing registered, two-thirds in the country expressing opposition.

In the wake of Thursday’s vote, EU leaders fear Brexit may spark contagion, referendums if held in other member states going the same way as Britain.

Protracted hard times exacerbated by force-fed austerity sparked growing public discontent, especially in France. Street rage since March against anti-worker legislation, enacted by decree, shows no signs of ending.

Thursday’s UK vote was the beginning of a protracted process, to be intentionally drawn out to counter Brexit sentiment, continuing for many months, market turbulence and other disruptions along the way.

Headlines hyping Britain leaving the EU belie reality. The same goes for EU leaders telling Cameron to get on with it - issuing a statement, saying “give effect to this decision of the British people as soon as possible, however painful that process may be.”

Chances for Brexit are virtually nil because powerful US and European interests reject it.

In the end, expect EU unity to be preserved, Britain remaining a member state, perhaps granted some insignificant cosmetic changes, creating the illusion of what Brexit supporters want.

By Stephen Lendman
http://sjlendman.blogspot.com

His new book as editor and contributor is titled “Flashpoint in Ukraine: US Drive for Hegemony Risks WW III.”

http://www.claritypress.com/Lendman.html

He lives in Chicago and can be reached in Chicago at lendmanstephen@sbcglobal.net.

Also visit his blog site at sjlendman.blogspot.com and listen to The Global Research News Hour on RepublicBroadcasting.org Monday through Friday at 10AM US Central time for cutting-edge discussions with distinguished guests on world and national topics. All programs are archived for easy listening.

© 2016 Copyright Stephen Lendman - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in