What If the United Kingdom Departs the European Union?
European unity originally was designed to expand economic markets. The “European Project” took a dramatic new turn in 1993 with the Maastricht Treaty, which created the European Union and set as a goal “ever-closer union among the peoples of Europe.” This process was enthusiastically endorsed by a Eurocratic elite, many of whom are located in Europe’s quasi-capital of Brussels.
Are the benefits worth the cost? The single market remains the organization’s greatest contribution to Europe. However, regulation increased as Brussels expanded its authority. The London-based group Open Europe figured that the 100 most important EU regulations cost Britons about $33.3 billion annually.
The EU unabashedly infringes national sovereignty. For instance, Nile Gardiner of the Heritage Foundation wrote: “For decades, the British people have had to surrender their right to self-determination and have been forced to endure the humiliation of having British laws being overruled by European courts, and a multitude of rules and regulations imposed by unelected bureaucrats in Brussels.”