Pippa Malmgren, financial Market Advisor to the White House
“Brexit is not the last exit. All over Europe the citizens are just as divided about membership in the EU as the British were. From France to Austria to Greece and Italy, the exits are gaining momentum. The factors contributing to the negative sentiment don’t necessarily arise from the EU itself. The anti-EU vote is partly a simple anti-establishment vote. It’s partly a protest against all things unliked from illegal immigration to austerity to the bailouts of long insolvent banks.
The latter gets the least attention but it rubs the most salt in the wound. That’s because the central question driving the anti movement is “why is the wealth being distributed to someone else and not me?” There are billions of Euros for EU banks that are worthless but austerity imposed on the citizens. There’s no cash for schools or healthcare but seeming unlimited welcome for new emigrants with different values. Growth and tolerance are positively correlated. If we want growth, tolerance and to end the anti-movement we’ll have to deal with things economics finds hard to quantify: we’ll need less anger and more hope.”
To read Pippa Malmgren’s speaker profile, click here.