Brown University professor of Political Economy, Mark Blyth talks about the #Brexitvote with ?AthensLiveand about the ultimate outcomes for the ?UK and across ?Europe. Don’t panic, his deep Scottish burr is bolstered by English subtitles (I can understand him just fine, myself).
He also surmises that Scotland’s possible upcoming vote to secede from Britain, in order to return to the EU would likely result in a similar situation to that of ?Greece.
In his words, “So, you’re going to give up George Osborne, an austerity chancellor – for Dr. Schauble? So, your nice little Scottish welfare state’s going to be protected by the tender embrace of the Germans? How’s that working out for the Greeks?
“People aren’t thinking this through. This is a vote against Technocracy. It is a vote against governance by unrepresented, unelected, undemocratic elites.
“It’s a no-win situation until the elites…figure out that at the end of the day, as I like to tell my American hedge fund friends, the “Hamptons is not a defensible position.
“The Hamptons are a very rich area on Long Island that lies along low-lying beaches. Very hard to defend a low-lying beach. Eventually people will come for you.”
