Within the European arena, there is no doubt that the spotlight is currently on the United Kingdom as the world watches to see exactly how Brexit will unfold. The EU was originally established as an agreement to bring the diverse European nations together into a deal similar to what the United States has between its various, diverse states.
But now that the second largest economy in the European Union is soon to exit, there are serious questions as to what the future holds for the EU at large. In the past few years, the EU has seen crises in Greece, Spain, Italy, and now the United Kingdom. If political analysts feared that a crisis in Greece may bring down the Euro, it’s hard to imagine what is going through their heads right now with Brexit.
Granted, the United Kingdom never used the Euro as
There is already fear among investors of a global economic slowdown, there are huge disagreements over how to handle refugees and other immigrants in the EU, and with the wrecking ball of the United States, also known as Donald Trump, there is an ever-present threat of further economic isolation with his tariff policies.
To compound all of these issues, populism is on the rise within practically the entire Eurozone. France is still dealing with the yellow vest movement, now in it’s 14th week of protest. This rejection of globalist agendas such as climate change policies are a major threat to the status quo 3rd largest economy in the EU that may very well result in a situation similar to Brexit in due time.
Far-right political movements that are generally against the European Union have been gaining popularity in Hungary, Denmark, Austria, and Poland, just to name a few EU countries. A growing rejection of the current political order may spell disaster for the EU in the long run and return Europe back to a disunited group of contentious nations.
It’s tough to imagine exactly what will happen in the aftermath of Brexit. Germany now has even more responsibility in maintaining the stability of the agreement now that the second largest economy in the EU is gone. The third, France, is dealing with riots in its capital, and the fourth, Italy, has been dealing with long term economic woes for years.
With the United States increasingly closing itself off from the outside world, growing concern over Russian aggression, and further troubles in the always volatile Middle East could put enough pressure on the EU for many countries to call it quits. In particular, the smaller nations such as Hungary and Bulgaria will be greatly concerned now that the bigger countries of the EU are starting to break off.
The EU, like any political arrangement, or nation if we are to consider them as a whole, is sure to have its fair share of woes and turmoil. However, the pressure may prove to be too much if Europe faces any more crises that further splinter. Only time will tell.