What is interesting to note is that the EU itself has moved so far away from the initial post-Brexit position of 'Article 50 must be initiated ASAP' (even Juncker isn't demanding this now) and 'there can be no single market without freedom of movement'. You don't even need to read between the lines to see that the EU is going to bend the rules, because it does realise what a loss Brexit represents. Think about it: the second largest economy and the greatest military power in the EU rejects greater political, economic and military integration.
Having a weak currency is not necessarily a bad thing - see how China regularly manipulates its own exchange rate to favour itself and become a powerhouse in the process. Northern Ireland is a prime example of how a devalued pound can be of great benefit - for the majority of the last decade it has exploited an overvalued Euro in the Republic of Ireland. Turkey did likewise throughout the 00s and 10s at the expense of Greece. Of course, this is a tried and tested example of monetary policy which can stimulate economic growth, but anyone who is in the Eurozone cannot do this, because the ECB holds the cards. Poland escaped many of the worst aspects of recession, simply because it could devalue the zloty. Look at how Slovakia and Slovenia still pay a heavy price for being tied to the Euro. I clearly see how this also devastates the group of PIIGS, all of which would be better off without it. We might well see Italy and Greece leaving it soon.
The whole thing is a farce, providing that action isn't taken to move forward. Negotiations to leave must begin sooner rather than later. The real reason we are here is because the European project in its current form of political and monetary union doesn't work. 28 member states with different histories, cultures, perspectives and so forth cannot be moulded into one superstate. Just think for one minute how this couldn't work in any other continent - even South America where this is a more dominant language, culture and history. It doesn't even work with something like NAFTA, and Canadians and Americans are much more similar than Europeans are.
As for Europe's many current problems, they have long roots and the outright refusal to consider alternatives in banking policies, fisheries policies, the role of the state, immigration and economic policies (fiscal/monetary), with regard to differences in each member state's needs and abilities, has been nothing short of tragic really. One size does not fit all. Even when it tried to woo Iceland after 2008 it failed, largely because the cost of membership was much greater than the benefits.
I like Europe and its diversity, but such concerted attempts to create a superstate, ignorant of the wider complexities, is doomed to failure.
