Bardonomics

It would be redundant to comment on the shock dealt to financial markets around the world by the Brexit. No one was expecting it. And despite the best efforts of “Remain” campaigners—some are desperately hoping for another referendum—the hands of time are unlikely to run backward; Britain will be leaving the EU for good.   Article 50, the EU’s exit clause, requires that a country formally leave the EU within two years of signaling its intention to do so. Instead of performing an autopsy on the referendum, the focus must shift toward negotiating an exit that minimizes the harm done to the UK and to the EU.  The ramifications of Brexit extend far beyond trade relations—most notably to immigration policy and regulatory measures. These topics, and others, require lengthy articles to themselves, so I will focus only on the potential trade implications of Britain’s departure.  In leaving the EU, Britain is withdrawing from the group’s unified market. Member nations trad