Led by an appallingly incompetent German management, the European Union will most probably come out terminally fractured after next May’s parliamentary elections.
The political forces already at work in a number of countries will go back to nation states and a free-trading area, abandoning the pipe dream of a European statehood and sovereignty.
That may not scuttle the euro because such a free-trading area needs a common currency to be a genuine customs union and a homogeneous single market.
(above) German Chancellor Angela Merkel and Prime Minister Theresa May are seen during a press conference on July 10, 2018 in London, England.
Britain’sidea of a unitedEuropehas never been more than a free-trading area.
In spite of that, the Germans and the Dutch liked the prospect of sharing the European Union membership with British free-traders, apparently as a counterweight to overbearing French state interventionists.