EuroDiplomat

Can Brexit be halted?

According to Theresa May, Brexit means Brexit. The British voters expressed their will during the vote of 2016 and now the Prime Minister has to enforce their wish. The talks officially started last March when Mrs. May triggered article 50 of the Treaty of Lisbon. However, as London prepares for the divorce, they begin to realize how harmful it might be for the country’s economy.

London will lose highly qualified jobs. Banks that have headquarters in the UK will have to move to an EU member state to take the advantages of the single market. HSBC already announced its intention to settle in another financial hub, likely to be Paris. This is just the tip of the iceberg since the European Banking Authority shall also move abroad.

There are politicians who are working to avoid the Brexit. One of them is the incumbent mayor of London, Sadiq Khan, who expressed his dissatisfaction with the current state of affairs during an event for European ambassadors:

“It’s illogical to assume we can have a better deal or as good a deal with the EU outside the EU. It wouldn’t happen with a tennis club, or any club.”

For Mr. Khan, the battle is not over, Brexit is not a fait accompli. The labor party could still propose to not leave the Union or hold another referendum. It’s simple, but not easy to implement it. Why? Because of the party leader, Jeremy Corbin, already expressed his view of complying with last year’s decision taken by voters. Therefore, a campaign to revert Brexit can divide the labor party.

The division within the party, however, might be already on its way. According to the British newspaper the Guardian most members of the Labour party support remaining in the customs union and single market. Also, they are enthusiastic about holding a second vote.

Now, it’s time to wait and see what will happen behind closed doors, text messages and coffee breaks. When it comes to British politics, nothing can be taken for granted.

 

 

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