Important (for good or evil) as Brexit may be to the future of Britain, it is not without its importance for the European Union. Indeed, it was always essential for the Union that Britain’s departure should be an economic disaster for Britain: for if it were not, why have a union at all?
Returning to my house in France after a prolonged stay in England, I was at once struck on reading the French press by how differently the current economic, and indeed existential, crisis in Europe is conceived on either side of the Channel, at least by the commentariat. For the British, the problem has been caused by an overweening but incompetent centralizing political class and bureaucracy that saw in the common currency a means to extend its own power, a currency union not being long viable without a political union: a union that in the circumstances would have to be mandated bureaucratically rather that democratically. And indeed, the European political class has long sought to escape from the tedium of democratic interference.