Brexit is a dreadful portmanteau. I tried to divert myself last night coining better alternatives for other potential coming secessions, instead of “Frexit” and “Italexit” (my money’s on Fradieu and Italiciao, respectively).
But not only is the word ugly but so too the deed. Probably.
Given what our generation has grown up with – a fairly predictable march towards neoliberal consensus, general stability save the occasional earth-shattering global financial crisis, a world of solid borders and staid bureaucracy – we at least have an excuse for complacency in the absence of change. Those responsible for the referendum and the crisis that’s led us to this moment, not so much, as Adam Elkus pointed out. But it would seem that history is roaring back with a vengeance and threatening to upend the order we’ve taken for granted.
I would hope that an island’s decision to exit a common market does not throw the longest peace on the Rhine in a thousand years into jeopardy; indeed, this early on I cannot quite envision the chain of events that would lead to that (okay, well, since you asked, Brexit precipitates two to three other EU withdrawals, leading to a collapse of the European Union, returning us to a perfect Westphalian state of international anarchy, but I digress).
The mid-to-long-term effects have yet to be seen. In the short run, obviously the pound sterling has tanked (though seems to be making a slight recovery), wiping out significant economic value, and stock markets across Asia, Europe, and the United States have also opened down. This, however, seems a poor explanation for the panic breaking out online and in person, the sense of grief and loss that’s accompanied this momentous and shocking vote. Plummeting retirement accounts and weakened currency are disastrous, to be sure, but they’re hard to pinpoint as a source of raw emotion.
There’s also something unseemly about arguing that “the market” should have been given a veto over a decision of popular sovereignty. Which isn’t to say that material well-being shouldn’t be nor wasn’t a factor in yesterday’s vote, but the idea that the City of London’s reaction to a vote to leave should determine national standing in the world is rather jarring (if not entirely inaccurate even without a referendum at all).
No, what’s caused this international mood of mourning is something grander than sheer material impact. It’s the loss of an idea, that a united Europe could overcome the historical divisions and enmities that have led to so much bloodshed over the course of several millennia. To turn its back on that sectarian, internecine warfare and instead chart a common course towards a mutual future; in short, a true commonwealth.
Of course, the European Union as constituted was (and is) rife with problems of its own. It is both too unaccountable and too lacking in power. It enjoys a currency union without a fiscal one; legislative representation without political supremacy. The vote reflects general and intense (and well-deserved) dissatisfaction with the elite. There are cases to be made for exiting the EU as a positive, both from the right and the left. But they’re not wholly convincing, because whatever the “cost” or “savings,” the results of the referendum transcend a materialist analysis of Britain’s EU membership, and is the death knell of an ideal.
This a tragedy especially for the young people of Britain and Europe, who time and time again have had their desires thwarted by older voters who won’t be around long enough to live with the consequences. It happened in the US Democratic primary and to a lesser extent in Scotland; the trend was undeniable even before then. That comment from the Financial Times that’s gone viral really does summarize it well: there will still be an unaccountable elite, only with British accents instead of a European polyglot; and the freedoms to live, work, and study in Europe, to meet a future spouse there, to be exposed to the tremendous panoply of cultures that comprise modern Europe, to try and fit Britain into a larger context, into the world: all of that has been dashed by a generation that already got theirs.
So despair is the watchword of today. Of course, Parliament might choose to dishonor the results of the referendum, or there could be a second one, or the Queen could refuse her assent, or any manner of other things. At a minimum the process will take two years. But the fact that a majority of England and Wales would prefer to exist outside the European Union is a profound shift in the international order. Scotland, on the other hand, may well opt for a second independence referendum, given the significant changes since the previous one (i.e., no more EU membership). But with the price of oil having dropped significantly from its 2014 levels, the self-sustainability of that project might be more in question.
Sinn Fein, as is their wont, has also made their announcement calling for a Northern Ireland vote to reunify Ireland, given the impending border checks and controls that would arise from a Northern Ireland outside of the EU.
The unthinkable has been set in motion and may yet be halted. But this vote should be of absolutely no comfort to anyone. We’re in uncharted waters, and the idea of European unity and a whiggish progress towards some noble and enlightened end has been thrown into stark relief. As the developed world mourns the idea of growing integration and peace, we’ve been reminded that the trend of the past few years is no happenstance, but rather that chance and contingency are once again a part of geopolitics – for better or worse.
Expect the unexpected; choppy waters ahead.