Online ISSN 2286-0266
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Œconomica by SOREC
 
Andreas STAMATE-ŞTEFAN
Academia de Studii Economice din Bucureşti
The exit from the EU is the product of few decades of active Euroscepticism in British politics and academics, too. The exit as such shouldn’t surprise anyone. More important is its rationale, which necessarily pays attention back to what EU was planning to be in its first days – a free trade area and common market – and what has become nowadays – a super protectionist quasi-state with powers over the national sovereignty in a wide range of problems: monetary, fiscal (even if only partially), commercial, immigration. The present paper seeks to highlight three main points: (1) Brexit is an opportunity to reaffirm the distinction between economic and political integration, (2) Brexit is not an economic crisis, but a political one and (3) a critical overview of the possible economic consequences of Brexit is needed to distinguish alleged costs from illusive benefits.

ŒCONOMICA no. 4/2019
Keywords: Brexit, economic integration, political unification, economic crisis, protectionism
JEL: F02, F15, F53, N44, O10
Brexit and the Economics of a Political Crisis