Published: 30 June 2016.
Author: Pat Byrne.
The unexpected vote of the British public by 52-48% to leave the European Union has rocked ruling elites worldwide. Not only are they worried that Britain leaving the EU will tip the UK into recession but could slow down the rest of the global economy. In the longer term, they also fear it could mark the beginning of the dissolution of the European Union itself. Moreover, they worry that this vote against the EU signals a growing rejection of international capitalist institutions and spells the doom of pro-corporate trade pacts like the Transatlantic Trade and Investment Partnership, better known as TTIP.