The potential Brexit, a protectionist US, and the rise of China will all push the EU to consider new reforms and a modified set of institutions which should allow ordinary people to better understand the working of a streamlined EU—this at least is a new option. Welfens presents an overview of the main arguments and proposals for the UK, EU, and individual EU member countries, including a possible second referendum. The danger posed by Brexit in combination with a Trump presidency and an undermining of multilateralism threatens to destabilize the West and cause European disintegration which could have serious politico-economic effects across the globe. Finally, Welfens explores perspectives for future EU–UK and EU–US relations in the coming months and years in a post-Brexit world.
- Bazillier, R., Magris, F., & Mirza, D. (2017). Out-migration and economic cycles. Review of World Economics, 153, 39–70.Google Scholar
- Müller-Graff, P. -C. (2016). Brexit–die unionsrechtliche Dimension, Integration, 267–282.Google Scholar
- OECD. (2014). Focus on Inequality and Growth—December 2014: Does Income Inequality Hurt Economic Growth? Paris: OECD Publishing.Google Scholar
- Popper, K. (1934). Logik der Forschung: Zur Erkenntnistheorie der modernen Naturwissenschaft [in English as The Logic of Scientific Discovery]. Vienna: Springer.Google Scholar
- Ryan, C. (2016). Where does one start to make sense of Brexit. International Economics and Economic Policy, 13, 531–537.Google Scholar