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The political economy of Brexit: why making it easier to leave the club could improve the EU

Bongardt, Annette and Torres, Francisco (2016) The political economy of Brexit: why making it easier to leave the club could improve the EU. Intereconomics, 51 (4). pp. 214-219. ISSN 0020-5346

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Identification Number: 10.1007/s10272-016-0605-z

Abstract

The UK exit from the EU represents a qualitative change in the nature of EU membership. On the one hand, it conveyed the lesson that for the Union to be sustainable, membership needs to entail constant caretaking as far as individual members’ contributions to the common good are concerned, with both rights and obligations. Countries with preferences that are too divergent for the Union to function properly should then not be discouraged to invoke Article 50 and to opt instead for membership in the EEA or for a free trade agreement. The Union has to deliver to be sustainable, but it cannot do so if there is a constant hold up of decisions that are in the common interest. On the other hand, with the eurozone having established itself as the de facto core of European (political) integration, the UK’s preference for a stand-alone (and incomplete) economic union became untenable, because the need to make the monetary union work calls for further integration and institution-building in the economic union sphere.

Item Type: Article
Official URL: http://link.springer.com/journal/10272
Additional Information: © 2016 ZBW and Springer-Verlag Berlin Heidelberg
Divisions: European Institute
Subjects: J Political Science > JN Political institutions (Europe)
J Political Science > JN Political institutions (Europe) > JN101 Great Britain
Sets: Departments > European Institute
Date Deposited: 15 Aug 2016 11:15
Last Modified: 20 Nov 2019 11:45
URI: http://eprints.lse.ac.uk/id/eprint/67483

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