Home Uk Financial Challenges The Second Largest Economy In Europe Is In Limbo

The Second Largest Economy In Europe Is In Limbo

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The United Kingdom’s political and financial challenges are no laughing matter. But there are plenty of smiles on the faces of Putin’s inner circle of Internet hackers. Putin and his band of corrupt geeks did a number on the U.K. when they got the Brits fired up in 2016. There were signs of social uneasiness in the U.K. due to citizens from other countries taking jobs away from Brits. And the U.K. Parliament didn’t like the fact they chipped in millions of pounds every year to keep the EU functioning. Plus, the Brits didn’t like some EU rules that felt restrictive and unnecessary.

In 2016, Russian hackers exploited those latent issues. When it was time to vote to leave or stay in the EU, it was clear the Russian infiltrators did their job. Brexit became a big, bold, and complex monster that threatens the financial stability of the nation, and the economic growth of the second largest economy in Europe.

Now that Theresa May has the scars to prove the whole Brexit mess was a horrible idea, the British Parliament wants to delay leaving the EU. But many of the foreign financial institutions that kept London in the global financial spotlight decided the Brexit deal would create a plethora of problems for them, so those investment bankers took the high road and moved their offices. Big corporations decided the U.K. would be a financial minefield, so they moved their offices or they stop plans to open offices or expand factory production in Britain due to Brexit.

The uncertainty that exists in London now that Parliament wants to extend the Brexit deadline is in high gear. The EU doesn’t want the U.K. to vote in their elections in May. That means if the U.K. gets an extension it would be a short one. By law, the U.K. will have to leave the EU on March 29th with a deal or no deal unless the EU gives Prime Minister Theresa May more time to get Parliament on board with some kind of deal. At this point, the EU just wants the U.K. to fall off the cliff of Brexit insanity and swim in the murky waters of an economic meltdown.

British citizens know once the U.K. leaves the EU life will dramatically change. Traveling through Europe will be a hassle and goods and services will cost more. Philip Hammond, the U.K.’s Treasury chief thinks a deal could still happen. But at this point, Brexit is in Limbo and Theresa May is there too.

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