Last week’s G7 meeting confirmed that the ‘West’ as we used to note it is now dead. The US election outcome and the Brexit referendum marked the end of the partnership as we used to know. Returning from the G7 summit the German Chancellor Angela Merkel pointed out the talks were unsatisfactory as the g7 partners failed to close their differences in trade and Paris Climate Accord. She went further to state that Europe can’t rely on their traditional partners like the UK and the United States like it used to in the past.
In 2016, nationalist ideas won in the UK referendum and the US election, while the 2017 election in France, Austria, and Netherlands given the green signal to the European Elite to move ahead with further European integration. While Europe continues its globalization policies, the UK and the US are more likely to pursue their nationalistic goals. While international organizations like NATO, International Monetary Fund (IMF) will continue operating, there could be considerable changes on how they are funded and how they operate.
The relations between the UK and the European Union are likely to get strained further as each fight to ensure best possible outcome individually. European Union’s fear that a successful Brexit would undermine the European integrity is likely to dog the relation for years to come.
While this article only briefly touches upon the issue and just broadly, our readers can expect many updates and writings from FxWirePro on the matter, for days, months, and years to come.
