Post-Brexit Europe is 'a joke of the world economy'

(Baonghean.vn) - On July 4, German magazine Der Spiegel (Mirror) published an article "mocking" the bleak future of Europe after the shocking decision of the British people last month.

With Britain deciding to leave the European Union in a referendum last month, Brussels is quickly losing its voice in global political and economic affairs, according to Henrik Muller, a columnist for the German newspaper The Mirror, on July 4.

His article, titled “Brexit shock: Europe is a joke for the world economy,” was published more than a week after the UK decided to sever ties with the EU.

Counting stations during the referendum on Britain's membership of the EU in Manchester. Photo: Sputnik.

“Europe is in a post-Brexit stalemate,” the article said. “A referendum against the EU has caused anxiety for leaders on both sides of the Channel Tunnel between Britain and France. The fact that the British people are turning their backs on the 60-year-old union has led to the resurgence of smaller states.”

According to commentator Muller, the most pressing issues of the EU have been discussed by EU member states, including Germany.

The article also asserts that “Europe itself takes a back seat, leaving room for Russia, the United States and China, the powers that still play a major role on the international stage.”

In addition to losing its voice in global trade, the EU has also lost its military clout, and its member states have become increasingly dependent on the US. According to Mr. Muller, Brexit has led to the fact that economic sanctions, which have been the bloc’s main foreign policy tool, are no longer effective.

Not only that, the current turmoil has also affected financial markets, with key EU Central Banks unable to salvage the post-Brexit situation.

The future of the EU is not very bright, especially after Britain decided to leave the bloc. Photo: Sputnik.

In a referendum last April, Dutch voters said “no” to an EU association agreement that would have lifted trade barriers with Ukraine.

These moves make it even more difficult for the newly elected British Prime Minister to negotiate terms of leaving the EU while making constant efforts to access the bloc's common market.

For their part, even members of the European Parliament have stressed that the EU needs far-reaching reforms to make the union “better and more democratic.” Brussels needs to “deliver what its citizens expect.”

Lan Ha

(According to Sputnik)