Mar 07, 2016 09:14 AM EST
Wolfgang Schäuble, the German Finance Minister, has warned of poisonous aftermaths over probable British decision to leave the European Union (EU). The decision may be detrimental for the UK, European as well as global economies and continue for years.
The German finance minister has made the cautionary statement while advocating for Britain's continued membership in a reformed EU. His cautionary statement appears following reiteration of belief by Boris Johnson, the mayor of London, wherein he criticizes the government over alleged efforts undermining a vote for Brexit, reports The Guardian.
Johnson has been reported to reassert his attack following resignation of a senior businessman from the British Chamber of Commerce (BCC). He however has cited that the businessman has been forced to resign for expressing a positive view of Britain outside the EU.
Both Johnson and Schäuble have been called to address in a BBC1 show moderated by Andrew Marr. While responding to questions in the show, the German finance minister has represented his 'poison theory' while placing his arguments against Brexit. However, Johnson has also criticized the UK government for removing John Longworth, the director general of the BCC, from his post for supporting Brexit in public.
However, a British decision to exit the 28-member union, has been analyzed to pose disastrous repercussions for a US-led post-Cold War order relying on a united Europe. The United Europe concept helps to deter adversaries through economic sanctions, exchange intelligence about trans-national threats and provide diplomatic muscle in containing conflicts, according to a report published in South China Morning Post.
Meanwhile, Britain's charity watchdog is going to issue a new guideline on Monday asking the organizations to maintain political neutrality. Friends of the Earth, The Wildlife Trusts and Greenpeace, all the biggest environment charities in Britain have made public comments backing EU membership. The new guideline will direct the charities to get involved in the referendum campaigning maintaining independence and neutrality, reports The Telegraph.
Ignoring the ongoing debates in the UK and EU member countries, analysts have also evaluated in Brexit proposal in global contexts. Getting birth from the ashes of the Second World War, EU originally aims for regional economic integration.
But since peace has been persisted on the continent in recent decades, EU has appeared as a significant player in global affairs. It has succeeded in 21st century security threats in rows where traditional military alliances have failed to ensure restraint.
Imposition of sanctions, diplomatic persuasions and assistance in development- all have appeared as effective instruments in ensuring regional and global security. Exit of Britain, the fifth largest economy of the world, will definitely weaken the organization and may even increase risk for regional and global insecurities. Brexit is believed to erode control of EU and the UK over global issues.
A British decision to exit the 28-member union, has been analyzed to pose disastrous repercussions for a US-led post-Cold War order relying on a united Europe. Politicians, business groups and charities have been reported to conduct campaign in favor of or against Brexit. However, exit of Britain from EU has been analyzed as a factor which may trigger regional as well as global insecurity.
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