Brexit it is

I’ve been following the events leading to the Brexit vote yesterday.

British voters have been forced to think about who they really are, how they interpret their history, how they see their future, and whom they trust. They have come up with fundamentally conflicting answers. (Foreign Policy)

The UK has voted to leave the EU. A first for a member of a regional economic bloc. A contradiction too considering the vision everywhere with globalization is regional organization and integration.

The Guardian’s initial analysis of the referendum points to relative dissatisfaction of the UK’s working class over the trickle down effects of EU membership over time, that it has been the upper classes who have really benefited from the integration.

As to aid and funding from the UK, the development community may or may not be affected by the change. The older INGOs, the ones which have been around 40-60 years now, have navigated the change from a stand-alone UK until the country’s EU integration in 1973. The community is now seeing a going back.

Question is, given today’s world that is more integrated compared to two or three decades ago, will the EU-independent UK make it on it’s own economically hence maintain it’s 0.7% aid-to-GNI target?

Much remains to be seen.

UK votes Brexit: What happens now? (The Telegraph)

How long would it take to leave the EU?
It would take a minimum of two years for the UK to leave the EU. During that time Britain would continue to abide by EU treaties and laws – however it would not take part in any decision making.

What will happen during that time?
The UK would have to thrash out the terms of its departure. Issues would include what financial regulations would still apply to the City of London, trade tariffs and movement rights of EU citizens and UK nationals. The agreement would have to be ratified both by the European council and the parliament in Strasbourg.

How would Brexit impact the EU?
Some people in the EU community believe that Britain quitting its membership could encourage other nations to follow suit with referendums of their own – or demand tailor-made deals of their own.

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