Time in Yerevan: 11:07,   15 April 2024

Brexit is not a disaster – experts say

Brexit is not a disaster – experts say

YEREVAN, JUNE 25, ARMENPRESS. In an interview with “Armenpress”, political scientist Narek Galstyan said the UK’s vote to leave the European Union will not be a disaster, but it can have such political consequences that can lead to a crisis.

“The talk is about the so-called domino and snowball effect. If the Great Britain will really withdraw from the European Union, and the countries where the public complaints are high against the EU and the people there will decide to follow the British example, in this case crisis will really start within the EU which will be very difficult to overcome. So far, the final withdrawal is not decided yet since the referendum results are not binding”, Narek Galstyan said stating that the UK’s withdrawal will not lead to a disaster both for the EU, and the Great Britain.

He said the Great Britain represents an option of mutually beneficial cooperation for the EU which is the following: to sign a special agreement with the EU within the framework of the accession of the European Free Trade Association and to stay in the EU market without being a member of the EU. Or it will follow Switzerland’s example and will cooperate with the EU through a separate agreement and will use the EU market.

Economist Tatul Manaseryan said what the UK does, it actually legitimizes the existing processes. He said it will be incorrect to say that the UK is deeply integrated into the EU.

“The Great Britain has been keen on expanding the strategic allied cooperation with the US and had its own stance in almost every sector which has not always been in compliance with the EU. There are many examples, such as the UK did not join the Schengen zone, it did not accept the single currency maintaining the positions of the pound and etc. Of course, the financial and the stock market turmoil is understandable, it could not remain indifferent from that process, but I think that it will be temporary”, Manaseryan said highlighting that nothing can no longer happen with the Great Britain, it is a powerful empire and maintains its economic positions.

Concerning Armenia, the economist said there is no obstacle for Armenia, our country continues developing the relations both with the UK, the EU and the EU member states.

“Just in terms of foreign political policy we must take into account that the new events make the UK, as a strategic partner of the US, adopt a more concrete and clear stance especially when the struggle is being escalated between the US dollar and the Euro”, he said. 


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