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Additional considerations on Brexit and its strategic value

Giancarlo Elia Valori

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Brexit has been the largest European strategic transformation since the end of the Cold War. Those who cannot read the primary geopolitical data between the digits of a long economic calculation are bound not to even understand the economic and monetary effects of Brexit. However, it is useful to analyze what Brexit means, also from the strictly economic viewpoint.

The cultural, anthropological and identity values have had a decisive impact on Brexit. These are the values which we usually attribute to “populism”, but which are part and parcel of each electoral behavior, currently as in the past.

Those who believe only in the “rational voter” of neo-positivist theories, or in the voters who scientifically analyze all the options available to them – by also believing they will come true – are always bound to be disappointed.

However, let us analyze data and statistics, even though we have already focused on them in other articles. Net migration has almost doubled in the UK, up to over 183,000 new arrivals in 2016. Furthermore migrants account for a 0.5% yearly increase in the total number of British workers.

With specific reference to international trade, the EU is the recipient of approximately 50% of UK exports. It is also worth recalling that the European rates for manufactured goods to be exported have more than halved since 1991. It is not a matter of “entry barriers”. The European red tape for the 100 types of most costly regulations developed by the EU, costs Great Britain approximately 33 billion pounds a year.

It is also worth recalling that as many as 52,000 new rules were enacted by the European Parliament between 2000 and 2013. National markets cannot be protected with odd and irrational laws and by-laws, but with precise foreign exchange operations and with tough negotiations with the potential EU trade partners. According to the latest data available, the financial services exported from London to the EU are worth 14.4 billion pounds a year. Finally, the European Union alone accounts for 46% of foreign investment in Great Britain.

In all likelihood, said investment will be replaced by the Chinese, US and probably Middle East Foreign Direct Investment (FDI), possibly with a predictable new Israeli presence. It is worth recalling, however, that the UK annual cost for its EU membership amounts to 10.4 billion pounds per year. It is interesting to note that the migrants coming from the EU provide a 20 billion pound contribution to the British public budget.

As a result of Brexit, the real estate and property value is bound to fall by at least 15%. Furthermore, in some London areas, the value of houses has already decreased by at least 30%. As already stated in previous articles, the solutions to Brexit are the UK adhesion to the European Economic Area (EEA) or to EFTA, as is the case with Norway, Iceland, Liechtenstein and Switzerland. Switzerland is not a EEA full member, but it is an EFTA member and it long negotiated autonomous bilateral agreements with the EU.

I do not think that Great Britain has ultimately much to gain from entering a bilateral system of European trade, as was the case with the above mentioned countries. Hence the best solution is the Swiss one, but it requires tough and long-lasting negotiations.

The British productive sectors not exporting to the EU account for 85% of the British GDP. For them Brexit is not a problem, but probably one of the solutions. As can be easily understood, the strictly economic – and hence political – issue determined by Brexit is not as simple as we may assume. A solution for the UK could be opening to non-EU markets, especially for the British financial products.

For the time being, the exports of these products to China account for a mere 2% of all UK financial exports, but nothing prevents the size of bilateral trade from increasing substantially and quickly.

In 2014 also Switzerland reached an agreement which significantly reduced non-tariff barriers to China for its banks and financial holdings. Nevertheless we must be careful of competitors. With regard to the export of these products, Germany has recently grown more than the United States and Switzerland itself, at least since the 2000s. Hence only China is left to Great Britain for a useful financial trading treaty. Nevertheless, at strategic level – which is what interests us most – the Brexit impact on the UK nuclear system must be analyzed.

The leaders of the EU nuclear power companies and EDF, in particular, maintain that Brexit will have no impact on the Hinkley Point C project, namely the first nuclear power station built in Great Britain after at least 20 years of nuclear freeze. This plant, which should be operational as from 2025, will supply 7% of British electricity. China will acquire a 33.5% shareholding of this plant (equivalent to 28 billion dollars), but it wants to build two new nuclear power plants, again with EDF, at Sizewell, Suffolk and at Bradwell, Essex.

The power plant in Essex will use only Chinese technology. EDF has a 66.5% stake in all these new projects, but China is not alone in this sector: NuGen, the joint venture between Toshiba and the French Engie, is planning a new plant in West Cumbria.

Moreover, HorizonNuclearPower is building a nuclear reactor in two sites, namely WylfaNewydd, on the island of Anglesey, and Oldbury-on-Severn, Gloucestershire. Hence Great Britain will become the European autonomous energy hub and there is nothing to prevent us from imagining substantial exports of electricity between Great Britain and the EU Member States which are most haunted by the antinuclear fashion. Finally, from the strategic viewpoint, the Russian Federation is not totally dissatisfied with Brexit.

After the British vote, the anti-EU front certainly includes Poland – which has not adhered to the single currency – as well as Sweden, Latvia, Lithuania and Estonia, which are part and parcel of the anti-Russian front but, by leaving the EU system, would inevitably limit their geopolitical scope of action. Russia is betting – certainly not in the short term – on a fragmentation and disruption of the European Union, which is harmful for NATO itself, namely the Russian primary enemy, but then the link between Western Europe and Eastern Europe would be weakened. This is a primary goal for Russia.

Hence Russia would incur fewer difficulties in rebuilding its traditional area of influence in the Eurasian peninsula. At economic level, for Russia the Brexit impact is less beneficial than we may assume. The wealthy Russians have invested over 5 billion pounds in the UK real estate market. Furthermore, volatility on international financial markets increases and this is a situation not favoring the economies which are experiencing difficulties such as Russia’s.

Moreover – on the assumption of an EU disruption – if the euro fell, oil would come under pressure, with great and severe damage for the Russian Federation. Therefore, for President Putin this would be a strategic victory, but it would mean a future characterized by economic uncertainty.

Finally Israel sees the decreasing weight of a country which is now alien and almost an enemy from the ideological viewpoint. Nevertheless it is managing a new strategy of opening to some countries, including Russia, and it is also pursuing its project for being no longer militarily dependent both on the United States and on some EU friendly countries.

Hence, also in this case, the Brexit impact will be limited.

Advisory Board Co-chair Honoris Causa Professor Giancarlo Elia Valori is an eminent Italian economist and businessman. He holds prestigious academic distinctions and national orders. Mr. Valori has lectured on international affairs and economics at the world’s leading universities such as Peking University, the Hebrew University of Jerusalem and the Yeshiva University in New York. He currently chairs “International World Group”, he is also the honorary president of Huawei Italy, economic adviser to the Chinese giant HNA Group. In 1992 he was appointed Officier de la Légion d’Honneur de la République Francaise, with this motivation: “A man who can see across borders to understand the world” and in 2002 he received the title “Honorable” of the Académie des Sciences de l’Institut de France. “

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Why Tony Blair is so angry?

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The former British Prime Minister doesn’t have a good time! On the one hand, Tony Blair is witnessing the continuation of the Brexit process, and on the other hand, He’s in no way happy with what has happened inside the Labor Party! Tony Blair is one of the main opponents of the British withdrawal from the European Union.

He has repeatedly stated that another referendum could be held, and, if the British citizens vote against the Brexit, the earlier results of the 2016 referendum can be ignored. He’s gone a step further, and mentioned that the Brexit can never happen, even despite the public’s vote for leaving the EU.

Recently, British Prime Minister, Theresa May, expressed her satisfaction with the positive vote of the House of Commons to her plan for leaving the block. These remarks led to Tony Blair and his entourage taking positions against her. The UK former Prime Minister intended to use the Brexit to return to power in London and the Labor Party. In recent years, he has become the main messenger of the falsification of the Brexit.

However, the London-Brussels agreement on British exit from the EU can once again defeat Blair to in the country’s political circles. The truth is that London’s soft or hard exit from the EU is of no importance to Blair, but he’s after the renewal of 2018’s referendum. For the British prime minister, it does not matter that his country will leave Europe in the form of a “joint agreement” or “disagreement”.

UK’s former foreign secretary, Boris Johnson and some other senior members of the conservative party, however, believe that the House of Commons shouldn’t agree with London’s soft withdrawals from the European Union. They believe that the agreement reached between Theresa May and the EU authorities over the Brexit will be heavily imbalanced and will lead to the economic domination of the United Europe on England over the next decade.

On the contrary, EU leaders, including Chancellor Angela Merkel, have said they’re not willing to offer British officials more advantages in their negotiations. They have emphasized that there would be no more talks on Brexit.

Furthermore, the equation is much more complicated inside the Labor Party! Jeremy Corbyn, Leader of the Labor Party and Leader of the Opposition, has emphasized that by holding early elections and changing the government in London, it is possible to re-start the negotiations on Brexit with Brussels.

Beyond the debates that have raised among the conservatives and the Labor Party, Tony Blair is thinking about his own personal and political goals in the Labor Party and the Britain and international equations. Blair believes that if he can provide the ground for another referendum (and to prevent the realization of the Brexit), then his position will be restored among European politicians. It’s obvious that Tony Blair is very dissatisfied with the current agreements reached between the British and EU authorities.

Jeremy Corbyn is trying to make an investigation into Tony Blair for alleged war crimes during the Iraq War, and this issue is seriously threatening Blair’s political future. When Corbin was elected as the leader of the Labor Party, Blair could not hide his deep discontent in this regard. He has said Labor Party has undergone a “profound change” since Jeremy Corbyn became leader and he is not sure it will be possible for “moderates” to regain control of the party. “It is a different type of Labour party. Can it be taken back? I don’t know,” Blair said before.

It should be noted that Jeremy Corbyn had previously called for the trial of George W. Bush and Tony Blair for committing war crimes during the invasion to Iraq. The main question is, what would be Tony Blair’s next step in confronting his failures in the UK’s political scene? Is he willing to use the Brexit as a means to revitalize his already-lost position? This question will be soon answered, but probably the stream of events won’t be to Blair’s benefit in the future.

First published in our partner MNA

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The Rise of Far Right Populism in Europe Ahead of EU Elections

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Authors: Punsara Amarasinghe and Eshan Jayawardane*

Populism in Europe as a civilizational legacy has a deeply rooted history which dates back to Greco Roman antiquity and as it has been recorded by classical historians like Livy, the overarching political structure of Roman republic nailed by populism that arose as a result of the loopholes of the system. The role of Publius Cloudius against Roman nobility during the late republic was a reflection of how populist discourse functioned in classical world. Nevertheless the principles emerged after the post second world war Europe such as social welfare system, social democracy and cultural integration reduced the gravity of populist discourse as a powerful political tool. Moreover the mass migration of political refugees from Eastern Europe to Western Europe during cold war was a phenomenal factor that encouraged west and its citizens to accept refugees or asylum seekers more dearly and it was rather a display of European values. But  as all good things come to an end this wave of immigrations from Non-European countries to Western Europe gradually conceived the seeds of socio economic and political turmoil in the continent that finally paved the path for a greater revival of populist politics in Europe.  Especially the political trajectory created with the Syrian refugee crisis since 2015 in Europe has compelled the people to look for Right wing politics as an alternative. Recent discussion held in Warsaw, Poland between Italian deputy prime minister Matteo Salvini and Jaroslaw Kaczynsi shows the spark of far right populist coalition in European Union against its center right more socio democratic leadership of Germany and France. The significance of this meeting lies in the fact that how EU politics has been changed in the recent years before its troubled policies over the illegal immigration and refugee crisis and this Polish Italian axis seems to create a decisive impacts upon the upcoming elections to EU parliament.

As a matter of fact in the past, it never really mattered much if the Euro election was carried by the left or the right: the result was the same anyway. The parliament has always been keeper of the federalist flame, but the unorthodox political upheavals Europe envisaged for past two years have such as BREXIT in 2016 and Trump’s victory in US presidential elections have upset the center right liberal orthodoxy in EU. Moreover it is a fact not be ignored that how national politics in European countries have taken a populist bend as a consoling since most of the common people in Europe are gutted by the refugee crisis and economic deprivation.  Especially being the undisputed forerunner in EU Germany has faced severe social issues since 2015 as Angela Merkel  decided to not to close Germany’s borders resulting in the arrival of more than one million of people.  Last August in Italy the Migrants mainly coming from former Italian colony Eretria had been stranded at a port in Sicily before Italian deputy premier Salvini finally allowed them to disembarked after Ireland and Catholic Church in Italy agreed to take most of them in. Apart from Italy most of European states have been exposed to the wave of populism mixed up with far right ideological elements. For an example elections held in Sweden in 2018 September dragged the country into a political limbo as the results of the elections did not leave either main parliamentary block with a majority and its far right anti-immigrant party Sweden democrats won 17.6% of the votes. Being a country that has resisted populist politics and far right wing ideology since the end of its notorious dictator Farco’s era, Spain too has witnessed the new wave of populism in its national level politics. The dazzling impact created by Santiago Abascal’s Vox party at the election held in Andalusia by gaining 10.97 % of the votes and 12 out of 109 cannot be ignored despite the fact that his party is still in its infancy stage.

Populist discourse spreading across Europe has not been emerged out of the blue as it is imbued with how common people in Europe perceive the socio economic and political circumstances currently. It was a misconception that many analysts believed that rise populism sprang from the financial collapse and unemployment, because it is evident that the rise of populism has not been solely attributed to the economic crisis. If economic growth had been decisive in Poland, which enjoyed the faster growth rate in Europe between 1989 and 2015, the populist Law and Justice Party would never have become the country’s dominant political force. The bitter truth portraying from the rise populism is non-other than Europe antipathy over mass immigration and their concern for preserving common European values. This aptly shows from how Hungarians have rallied around Mr. Victor Orban as he triumphantly calls himself the defender of Christian Europe. On the other hand such xenophobic notions like cultural preservation, growth of Islam have been clearly captured by populist parties as drawbacks created by the apathy of European Union and its center right liberal democracy. Perhaps the influence coming from Putin’s Russia can be taken as one pivotal factor that has intensified the populist discourse, because president Putin’s knack on ethno nationalism and religious traditionalism seem to have allured the populist movements in Europe.

It is a fact beyond dispute that the rises of populist political parties under its far right ideologies in the backdrop of European Union parliamentary elections have destabilized the continuation of European integration under liberal center right outlook. The populist plan to expand their numbers in EU parliament in 2019 May elections have begun to upset the ostensible stability of EU and its French German leadership or perhaps this year Europe will face the arch encounter between newly emerged far right populism and the social democracy that has been the ruling slogan in Europe since 1968 in an open space.

*Eshan Jayawardne holds BA in Sociology from Delhi University and MA in International Relations from Jawaharlal Nehru University in New Delhi. He is currently serving as a guest lecturer at Sri Lanka Open University. He can be reached at eshan.jayawardane[at]gmail.com

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Europe-US: Results of 2018 and prospects for 2019

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Speaking at a December 4 news conference in Brussels following a two-day meeting of NATO foreign ministers, US Secretary of State Michael Pompeo said that the rule-based multilateral world order that for many decades has served the collective interests of the Western nations is no longer working. He backed up this claim by citing the weakness and incapacity of the United Nations, the Organization of American States, the African Union and some other international organizations.

Much to the Europeans’ surprise, while holding up the NATO alliance as an “indispensable” institution, Pompeo also put the European Union on the list of outdated and unviable ones. These “shocking” comments wrapped up the past 12-month period, probably the most tense in trans-Atlantic relations since 1945.

By the start of 2018, relations between the US and the EU were characterized by a great deal of uncertainty. On the one hand, in the US National Security Doctrine published in mid-December 2017, Trump finally reiterated Washington’s commitment to Article 5 of the North Atlantic (Washington) Treaty, which is something Europeans had been waiting for. He also promised to support America’s European allies against the imaginary “threat” from Russia and China, which he described as “revisionist countries” out to change the existing world order.

On the other hand,the US National Security Council’s view of the countries’ competition in the world conforms to Hobbes’ “all against all” principle. In other words, it rejects the idea of multilateralism, which is a fundamental principle the countries of “old” Europe stick to. Moreover, the entire world order that the US helped establish after 1945, is described as the source of a flurry of serious challenges to America. The Strategy section, devoted to the “world of universal competition,” makes no mention whatsoever of America’s “allies,” while the repeated mention of the obligatory “mutual benefit” of allied relations looks like an undisguised desire to “monetize” friendship.

Washington’s practical steps made in 2017 left Europeans wondering about the price (in the financial sense of the word) Trump would expect them to pay for honoring America’s trans-Atlantic obligations. As a result, Europe was torn between the desire by a sizeable part of its establishment to retain the US leadership , even at the cost of far-going concessions, and a growing disillusionment with the policy of its overseas partner.

The past year confirmed the Europeans’ worst fears: the world, according to Donald Trump, is a world without global rules, a world where the strongest always comes out on top. The White House acted as if it viewed the European Union not so much an ally, as a competitor to fight with. In the spring, Trump suggested to the French President Emmanuel Macron that he pull France out of the European Union in return for a lucrative bilateral trade deal with the US.

Trump supported the UK’s exit from the EU, and even threatened the British Prime Minister Theresa May with economic “measures” in the event of a “softer” Brexit. On June 1, Trump imposed duties on steel and aluminum imports from Europe and threatened to slap new ones – this time on imported European autos.

During the G7 summit in Canada in June, President Trump tried to drive a wedge between the Europeans. Finally, during the NATO summit in July, Trump made it clear that if Europeans refused to “cooperate,” Washington could roll back its military support and even withdraw the US military contingent from Germany. Washington has also made it clear that he considers any further EU foot-dragging on defense spending hikes as a deliberate policy by Europeans, who view the United States as an unfailing guarantor of their security.

During the first half of 2018, the Europeans openly pushed back against Trump’s insistence that his G7 or NATO partners accept the dramatic change in Washington’s approach to these pillars of the Western world, their goals and objectives.

The emergence of Donald Trump has exposed the “royal nudity” of the European Union, which has not yet outlined a common foreign policy on major tracks, or come up with anything in terms of strengthening its power in order to be able to stand up to Washington’s demands.

On the other hand, the heavy-handed and self-serving US policy is too inconsistent as it tries to win over only the partners it can rely on in its fight against Chinese and Russian “revisionism.”

And still, watching the growing signs of US hostility, Europeans start asking themselves a virtually existential question, and that is where the current US Administration is going? Is this the beginning of a long-term trend, a fundamental change in US strategy, or a tactical zigzag meant to achieve some short-term goals? If it is the latter, just like it happened before, then will it be enough to just “wait it out”? If it is the former, will the EU opt for strategic autonomy as part of an increasingly amorphous, but civilizationally homogeneous West, or will it have to solve the colossal task  of creating a full-fledged European “power center” that would interact with the US, mainly, if not exclusively, on the principles of “Realpolitik”?

At the same time, a “wait-and-see” tactic could backfire against Europeans. On the other hand, the “all-strops-out” trade war between the US and China, which broke out last year, is forcing the EU to perform a balancing act, maneuvering its way between the world’s two largest economies. This necessitates an independent geo-economic policy in the face of a looming global economic recession. The long-term challenge to Europe is to build a new, previously unknown, system of international architecture: “economic bipolarity between the United States and China and strategic bipolarity between the United States and Russia.”

Experts believe that if Europeans want to push back against Washington’s plans and avoid the EU’s fragmentation, they should start thinking about making Europe stronger, and do it now.

By mid-2018, more and more European politicians had realized that, in the wake of the Cold War, Washington’s policy in Europe was aimed at undermining Europe’s global competitiveness. The question is, however, to what extent the American establishment as a whole shares Trump’s stated goal of maintaining or increasing America’s dominance, even at the cost of economically destroying the “allies,” who are now being perceived by Washington as competitors.

Trump’s initiatives are clearly aimed against the very idea of European unity, which fuels European suspicions about his desire to implement the classic “divide and rule policy” in Europe.

Having all these factors in mind, the EU’s overarching task was to work out measures to resist Trump’s four-pronged “geopolitical attack” in trade, defense, on Iran and migration policy. On June 6, the European Commission approved €2.8 billion worth of import duties on US-made goods. Following the July visit to Washington by the European Commission President Jean-Claude Juncker, the Europeans achieved at least a semblance of a “truce” in their trade relations with the US. Surprisingly to many, the reconciliation had a demonstrative, even flashy character. After meeting Juncker, Trump said that the US was putting on hold the planned introduction of new tariffs on imported European goods, and would work to settle existing trade disputes in order to avoid a full-scale trade war.

According to experts, Europeans have no wish at all to share with the US the burden of a new economic slump, which Trump’s “reckless” protectionism may entail. Therefore, the EU could best respond to Trump’s policy by assuming the role of the leader of countries committed to preserving the rules of liberalism in international trade. The EU’s economic potential matches that of the United States and its economy is almost the only area of international relations where the bloc can act on a par with, or even independently, from Washington.

However, even though unable to compete economically with the US on a one-to-one basis, EU members remain divided on many issues. Fully aware of this, Donald Trump uses every opportunity available to try to pit them against one another.

So, capitalizing on Europeans’ discord over migration, Trump has banked on unraveling the traditional European political parties by mixing all the trends. Newly-appointed US ambassadors openly support far-right populist parties in Italy, Germany, Britain, and in Central Europe.

Meanwhile, the traditional European parties are preparing to challenge Eurosceptics in the upcoming elections to the European Parliament, set for May 2019. Internationally, the EU responds by ramping up diplomacy aimed at cobbling together coalitions without the US in a bid to preserve the existing world order. In July 2018, the EU and Japan agreed to set up a free trade zone; Brussels has likewise been intensifying efforts to establish a free trade area also with MERCOSUR, Australia and New Zealand, and is actively engaged in informal efforts aimed at promoting liberal values and institutions.

The EU’s stance concerning the US sanctions on Iran, has been equally firm, prohibiting companies and individuals located on the territory of the EU from following American sanctions against Iran. According to the new EU rules, European firms hurt by US sanctions will be able to demand compensation. Brussels also reiterated its commitment to the 2015 nuclear deal with Iran, and is actively looking for ways to circumvent US financial hegemony and sanctions. The EU is mulling an independent system of financial settlements, the European Monetary Fund – an analogue of the IMF – as well as financial instruments that would be “completely independent” from Washington. However, ensuring even a simple majority of “yes” votes by individual EU members on these issues will not be easy.

The biggest hurdle here is security, because without the United States, NATO as a military organization becomes virtually ineffective  making Europe hostage to America when it comes to security. This effectively weakens the EU’s hand even on the continent, let alone the world. The European NATO members face the hard choice of either playing the role of US-led partners, which may imply their agreement to weaken European unity to benefit Washington’s new foreign policy interests, or stay the course of greater independence, including in matters of collective defense (European army), which, however, is fraught with a great deal of uncertainty.

With the onset of autumn, the issue of “European sovereignty” sprang to the top of the EU leaders’ agenda. At the end of August 2018, the French President Macron and the German Foreign Minister Maas went on record emphasizing the need for Europe to play a new role and “strengthen” its position in the global alignment of forcesemerging in the world. In early November, Macron and the German Chancellor Merkel reiterated their call for a “European army,” “real pan-European armed forces.” Moreover, the US was named among the threats Europe needs to defend against.

During the past year, Europe was making mainly tactical steps aimed at making up for the damage caused by US sanctions. Simultaneously, it was actively looking for a future strategy of trans-Atlantic relations, as well as ways for institutionalizing its independent identity, both in foreign policy and defense.

There is little doubt that all of Europe will not turn its back on America, even though most of the countries of “old” Western Europe have been seeking greater “strategic autonomy” for the EU and a system that could function without relying on the hegemonic might of the United States. By contrast, many Central and East European states are making every effort to strengthen ties, above all military, with Washington, so Europe is still wondering how it can possibly to preserve the “old order.”

The outcome of the November 2018 mid-term elections in the US showed  that American voters were losing faith in Donald Trump’s way of handling the country’s foreign policy and foreign trade. With Democrats regaining control of the lower chamber of Congress – the House of Representatives – Trump may need a positive foreign policy agenda, and what better way to achieve this than to restore constructive relations with traditional allies and negotiate with the Europeans? Including on joint measures to “contain” Russia.

Simultaneously, the notion, whereby the EU project is on the brink of collapse and so the US needs to present NATO as a new unifier of Europe is getting increasingly popular in the United States. This is the idea that was pitched late last year by none other than US Secretary of State Mike Pompeo.

This could pull the rug from under the feet of not only those who seek Europe’s strategic autonomy, but even the advocates of a more centralized EU. Therefore, the question of whether the leading European countries will go beyond pacifying voters with talk about the creation of an “independent center of power” remains open. And further moves by the EU in relations with the United States, at least until the May elections to the European Parliament and the change of leadership of the European Commission, will largely depend on Washington’s policy towards its European allies.

First published in our partner International Affairs

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