by Ferghane Azihari
Mises.org
The United Kingdom (UK) is about to hold a referendum on June 23rd on whether it should leave or remain within the European Union (EU). Once unthinkable, the “Brexit” is becoming more and more plausible. It is seen by the mainstream media as a factor of uncertainty in Europe. For its critics, Brexit would lead to increasing nationalism and protectionism. Nevertheless, those same critics forget the European Union is not a free-trade area.
On the contrary, Brexit could open new perspectives for the old continent, not by bringing more protectionism but by bringing more competition between governments.