Readers of [Quodlibeta] come from all over the world and they may have heard some surprising tidings from the United Kingdom over the last few weeks. As most of international news reporting has painted events as either a revolt by xenophobic peasants or just complete chaos, I [James] thought it was worth setting down what has really happened and the reasons behind it.
First, my biases. Although I am, I suppose, a member of the globalised neo-liberal order, I campaigned hard in my local area for a vote to leave the European Union, commonly called the EU, at the referendum on 23 June. I have been a sceptic of the EU since 16 September 1992, ‘black Wednesday’ when the German central bank provoked the markets to devalue the British pound against the will of the British Government. In the meantime, we have seen the EU bring in the single currency that, in the aftermath of the financial crisis of 2008 has turned into a rack upon which the economies of many of its members are slowly being broken. In essence, the EU has become an oligarchy, and not even a very effective one.
More at the link.