With the government in disarray following this morning’s resignations and the Sterling at its lowest point since the 2017 Brexit crisis, one thing is clear; May’s resignation is a foregone conclusion. In her presentation of Wednesday’s deeply flawed deal, May suggested it was her deal, ‘no deal, or no Brexit at all’. The choice is an obvious one: no Brexit at all, and the sooner we can begin to reverse this historic error the better.
Removing services, long the backbone of our economic sector, from the European single market, would inflict unnecessary damage to the economy. It was sold to us as the opportunity cost of ‘taking back control’ of our sovereignty and national affairs. Inevitably, as Wednesday’s deal has shown, this not to be the case. Any deal we negotiate will entail diminished economic prospects as well as diminished sovereignty. There is no longer talk of a Singapore-On-Thames for financial services. Even the best-case-scenario ‘limited membership’ to the single market economy would still relinquish control to the EU after March next year, resulting in absolutely no say on policy-making. Brussels, by contrast, is the only winner from this deal- largely insulated from any Brexit fallout, European companies will still retain privileged access to the British consumer.
Why are we in this nonsensical situation where we can clearly see a self-inflicted economic catastrophe on the horizon and yet continue plow on. There is absolutely no upside to any deal, other than it being the lesser evil- anything is better than the chaos that would follow a no-deal Brexit in March. So we continue to keep up appearances and lay on the bed we have made ourselves. This is the only justification I see for the current negotiations.
This is an extraordinary time for British politics and we ought not to continue keeping up appearances as if everything were fine. Therefore, we must be bold and consider extraordinary alternatives to accepting this very bad deal indeed. As May suggested, there is another option to her deal for this Brexit debacle and it is the only sane option for us to take. Times are already turbulent, and a second-referendum to democratically legitimize putting an end to the Brexit process, is the only viable end where we come out, albeit with some bumps and bruises but largely okay. Inevitably there will be delays and further uncertainty, but given our unfortunate position, things need to get worse before they can get better. May’s resignation, a snap election, and a second referendum are the bitter pill needed for a prosperous Britain.