So the British Prime Minister lost her Brexit vote by the greatest losing margin in living memory. Do not be fooled into thinking that her winning the subsequent vote of “no confidence” has somehow set things right. There remains the real chance of an unravelling of politics in Britain . Kicking the can down the road whilst sitting on the fence is no longer an option – there is a deadline just 10 weeks away. The nation, so dependent on global trade and finance, will be at a standstill. Furthermore a mismanged March 31 conclusion will not only throw the country into chaos it will threaten the rest of the European experiment.
The timing could scarcely be worse.
The political and social structures of the European Nations, and their economic and cultural security have not looked so precarious since the 1920’s. As then there is a dangerous populist and polarised tribal spirit throughout the region. As then there is no steadying democratic leadership and, as then there remains the constant niggling and bitter threat of Russia – Putin now rather than Lenin.
All the nations are threatened by high levels of national debt – debts that for 9 of them exceed 80% of gdp. In addition most of the banks are skating on the perilously thin ice of growing commercial debts that wil never be repaid.
Britain needs to find a new leadership, a new credibility, a new voice. It must repeal Brexit and return to Europe where its future lies.
The challenge has just become far harder – and the costs of failure are building .
Have a good day. James