Source: Adam Smith Institute
by Miles Saltiel
“Ten years after Brexit, Britons must choke back an indigestible irony. Leaving the EU has been an unexpected success for those who voted against it: the prosperous Southeast, beneficiaries of the unloved colossus of London’s financial services. But it has been a disaster for those who voted for it, the left-behind of the neglected suburbs and provinces. Two reasons explain this paradox. First, the Brits let Barnier walk all over them on the backward-looking issues which dominated exit negotiations and regulate the rustbelt. Second, Brussels discovered that if it wanted to carry on its prodigal ways, it couldn’t do without London’s capital markets.” (06/16/26)