German Finance Minister and ardent German Chancellor Angela Merkel supporter, Wolfgang Schauble, insists that Britain could be forced to pay into the European Union despite their #Brexit vote of earlier this year. According to the Daily Mail, Schauble, who met with both Merkel and outgoing US President Barack Obama recently, said that a post-Brexit Britain will still be bound to existing tax mandates established by the EU headquarters in Brussels that were originally created as incentives for EU investors.
No Freedom of Movement
Schauble also made a point of stating that if Britain intends to limit movement across its borders, than it will no longer be welcome to participate in the common EU market. Whether or not the Finance Minister’s words are perceived as a threat by those who govern Britain’s finances, including Prime Minister Theresa May, is yet to be seen. But Schauble did add, that until the UK’s exit is entirely complete, it will still be expected to pony up on its monetary commitments. Some of those commitments could last well past the year 2030.
Obama Farewell Tour
Barack Obama, who is currently engaged in a farewell tour of Europe to reiterate America’s commitments to the region in light of this month’s Presidential election which resulted in an electoral landslide victory of non-political outsider Donald Trump, has already met with Merkel and is also scheduled to meet with May. While it’s said that the Brexit vote is not on the docket for discussion, it’s hard to believe it will be ignored, especially in light of recent statements Obama made warning the world of nationalistic tendencies and the need to stay focused on globalism.
Hard Line approach for Germany
The Daily Mail attributes Germany’s hard line approach as blowback from French President Francois Hollande’s October public statement in which he said Britain must pay the price for cutting its ties with Brussels and the EU. After all, the financial success of the EU is dependent in large part on freedom of movement across all European member borders.
Britain however, has expressed its concern over the same Islamic Radical threat that France, Brussels, and Germany now face in part after almost indiscriminate acceptance of hundreds of thousands of Syrian refugees. Unmoved by Britain’s anxieties, Schauble stressed that there will be no a la carte menu for Britain or anyone else. You get the whole meal or nothing, he said. What that means is without membership in the internal EU marketplace, there will be no passporting and no free access to financial opportunities. This comes in light of Mr. Obama’s pre-Brexit threat of Britain having to go to the back of the world queue should it vote to secede from the union.
While Obama cites the EU as one of the greatest achievements for the post World War II world, he reiterated the need for a smooth transition with regard to Britain’s withdrawal. Mr. Obama, who has considered an open border EU-like economic set up for North and South America, went on to say that the EU must not only be preserved, but if necessary it should be fought for. #2016 Presidential Election #Angela Merkel