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The result of the Brexit referendum is nothing less than a body blow to Bretton Woods organisations, International Monetary Fund-North Atlantic Treaty Organisation (NATO)-World Bank, that originated at the end of the Second World War. The possibility of an Asian century becomes more feasible, if India can be nimble enough to make the most of the opportunity which has presented itself in Europe.
Courtesy: Business Insider
The message from Brexit is simple: the post-second world war financial, trade and industrial order and security arrangements that developed around Bretton Woods, have passed their expiry date. This is the time for countries, regional unions and global institutions to reform themselves – putting people instead of regulations and strategic objectives at the centre of their decision-making.
Courtesy: ukrep.be
As the referendum on the UK’s membership of the EU draws near, predicting the outcome remains difficult. While the potential impact of Brexit on the UK has been discussed at length, a vote to stay in the EU could have implications for the UK’s domestic political situation as well as its future relationship with the EU.
Courtesy: Wikipedia
On June 23, the United Kingdom will vote on whether they wish to remain a part of the European Union through the Brexit vote. The debate surrounding the vote has spurred many a heated and emotional debate. While the Indian government has not declared anything publicly - remaining in the EU would be beneficial to Indian businesses.
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The recent referendum in the Netherlands on the European Union’s Association Agreement with Ukraine raises important questions about the EU’s ability to reconcile ostensibly popular national opinion with the principles of a multi-nation political union.
Courtesy: Wikipedia
The IMF will soon consider an important change to its policy on lending that may help continue its bailout programme to Ukraine, even if Ukraine defaults on a loan from Russia that matures in December 2015. If it does make the change, the IMF could be staking its credibility to favour the West’s political agenda
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While the closing of borders to refugees in Europe and West Asia could be interpreted as proof that national borders are more important now than ever, the sheer numbers of refugees make strengthening borders a severely inadequate solution.
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If the Transatlantic Trade and Investment Partnership moves ahead after further negotiations were held in July, Indian exporters could be disadvantaged. Instead, India must be ready to use the further opening up of huge markets across the Atlantic, and adopt trade policies that mix regionalism and multilateralism.
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While all eyes are currently on Greece, the UK has plans to hold a referendum on whether to exit the European Union or a "Brexit". The potential of a "Brexit" has both short and long term implications on the UK's position as a financial hub and on Indian FDI into the UK
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With the Eurozone portion of Greece’s $276 billion bailout credit expiring on June 30, Europe is in the midst of a standoff over this unsustainable debt. But it is only the latest in a number of Eurozone crises since 2008, and if the prospects for economic growth remain dim, how will the EU address its interlocking problems?