Of Brexit

                      As I've mentioned in one of yesterday's blogs, the U.K people voted in a referendum to leave the E.U.  The E.U is both a free trade zone in Europe and a currency union.  The U.K however is not part of the currency union as it uses the pound as its currency.  The U.K's economy has suffered greatly under free trade in the Eurozone.  Theresa May, Prime Minister of the U.K, and her government has failed to negotiate an adequate deal with both the technocrats in Brussels and the Labor Party in the U.K.  Thus, a hard Brexit is her best option.  This means that there will be no deal in place as the U.K leaves the free trade zone with the E.U.  Also, the U.K will be free to repeal E.U imposed regulations.  Currently, E.U regulations make up half of the U.K's laws and economic growth is slowing all the time.  Furthermore, the U.K will be free to negotiate new trade deals with other countries especially developing countries in Asia and Latin America.  Perphaps, the U.K will start granting development loans to developing countries in order to counter China's growing influence.  It is important to note that May has survived two recent no confidence votes by a narrow margin.  Also, her Brexit deal was defeated in a vote by the House of Commons.  Some are suggesting that there needs to be a second referendum to approve the final Brexit deal.  This could prove to be counter productive as it may give the Labor Party an opportunity to draw out their rhetoric against leaving the free trade zone.  In short, a hard Brexit is by far the best option for the U.K at this point.  In the coming months I suspect that other countries such as Italy will have referendums to leave the E.U.  It is important to remember that joining the E.U was a decision made in parliaments throughout Europe not by ordinary people.  In other words, common folk did not have a choice in joining the free trade zone or the currency union formed by the E.U.