Alex Callinicos, "Brexit: a world-historic turn", International Socialism 151, 27 June 2016, excerpts

From 4EDU
Jump to: navigation, search

' [...] The relentless bombardment of statements from business interests attacking Brexit may have been orchestrated from 10 Downing Street but they were for all that genuine. Major investment banks and transnational corporations, the CBI, the Bank of England, Lloyds, the European Round Table of Industrialists, the International Monetary Fund, the OECD Š these are the go-to institutions if one wants to know where leading sections of capital stand, and they all denounced Brexit. [...] If anyone had any doubts about capital's desires, the huge falls in financial markets all round the world the day after the referendum should have removed them. [...]

'Just as with Donald Trump's capture of the Republican Party on a platform that breaks with US imperialism's strategy since the early 1940s of constructing a global liberal capitalist order underpinned by American military power, we [now] have the paradox of the main party of big business [in the UK - the Conservative Party -] pulling away from the interests of capital. [...]

'British and maybe world capitalism are entering very stormy waters. In seeking to navigate through them, the Tories are sure to mount yet more attacks - for example, forcing through more cuts to reassure the markets. [...] On the one hand, there will the Brexit negotiations, where the detail of how the British state is disentangled from the EU will matter a lot-the fight to preserve free movement is an obvious example. On the other hand, there may be referendums on the break-up of the United Kingdom, probably in Scotland, conceivably in the north of Ireland. And there is an immediate fight to be waged against the Bourbons of the Labour right. Unity against racism, austerity and war, and to preserve the political opening that Corbyn's election marked is urgently needed.'