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Brexit and the European Union in the Context of Globalization

  • José Renato Gonçalves
Chapter

Abstract

Following the impressive economic dynamism of the United Kingdom and particularly of the City of London in the last decades, as well as the imposing economic and political ascent of the European Communities and lately of the European Union, the “Brexit” referendum on 23 June 2016 endorsed a growing popular Euroscepticism and disaffection, particularly with the recent trajectory of the European integration process, and caused a huge shock, namely to the United Kingdom and the City, as well as to the EU. Furthermore, it disrupted the long-lasting expansion trend of international political and economic cooperation and integration experienced worldwide, including in Europe.

Nothing will ever be the same after the “Brexit” vote, and one of the most interesting and decisive issues on the theme consists in inquiring if none, only one or all of them—the United Kingdom and the City, and the EU—will recover promptly and vigorously enough in an appropriate way to ensure general prosperity and political success in the context of the actual and future process of “globalization”, or "(quasi-) globalization".

The text focus on the impact of awkward “Brexit” on the European Union in the context of international economic and political cooperation and integration process, that is, “globalization”.

Keywords

Brexit; United Kingdom; European Union; European (Economic) Community/Communities World Trade Organization (WTO); General Agreement on Tariffs and Trade (GATT); Globalization / (Quasi-) Globalization International (economic) cooperation / integration / disintegration 

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Copyright information

© The Author(s) 2017

Authors and Affiliations

  • José Renato Gonçalves
    • 1
  1. 1.CIDEEFFLisbon University School of Law - Faculdade de Direito da Universidade de Lisboa, Alameda da Universidade - Cidade UniversitáriaLisbonPortugal

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