Sovereign Choices

Holger Schmieding, London’s Berenberg Bank Chief Economist, is dismayed that the UK might quit the EU.  The subtitle of his op-ed piece in the WSJ fully sums up his concern:

Rules from Brussels can border on the absurd, but what hurts the UK most are the policies its own politicians enact.

It also demonstrates how badly he misses the point of the movement to leave the EU.  It’s certainly true that Parliament is fully capable of enacting, and it often does enact, utterly foolish policies.  But at least they’d be sovereignly done, and not forced on them by a remote, extra-national quasi-government.

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