Summary: Here’s one of the best essays I’ve seen about the deeper causes of Brexit, beyond Britain’s elites blaming the ignorance racist proles (which conveniently excuses them of any responsibility). Professor Mark Blyth shines light on the real forces at work, and shows how the US has similar problems. Brexit and Trump are the start of a new era for the West, for good or ill.
“Europe will be forged in crises, and will be the sum of the solutions adopted for those crises.”
— Jean Monnet in his Memoirs (1978). He was one of the architect of the program to unite Europe (see his Wikipedia bio).
Mark Blyth explains the hidden reasons for Brexit
Excerpt from transcript of an interview by Athens Live on 26 June 2016
“Let’s think about it this way: was austerity the policy or was austerity a side effect? What we have found out recently from a paper done by the German business school was that, according to their estimates, a full 95% of the cash that went to Greece ran a trip through Greece and went straight back to creditors — which in plain English is banks. Public taxpayers’ money was pushed through Greece to basically bail out banks…So austerity becomes a side effect of a general policy of bank bailouts that nobody wants to own. That’s really what happened, ok?
“…Why are we peddling nonsense? Nobody wants to own up to a gigantic bailout of the entire European banking system that took six years. Austerity was a cover.
“…If the EU at the end of the day and the Euro is not actually improving the lives of the majority of the people, what is it for? That’s the question that they’ve brought no answer to.
“…I’m very pro-European, but I’m against the euro, so if I still lived in the UK I would have an interesting choice. Now if you look at Larry Elliott in The Guardian, he thinks he should vote for exit because this might be the existential crisis that blows up the euro. Now why would you want to blow up the Euro, because “that would be terrible etc etcetera”. Because the long-term effect of the euro is going to be to drive Western European wages down to Eastern European levels in global competition for export share with the Chinese.