Porexit? When Brexit spreads to the Iberian Peninsula

While our betters in the media continue to scold us about how awful the Brexit voters in Great Britain are and the doom they are surely bringing upon themselves for wanting to protect their borders and preserve their way of life, the spirit of the upstarts continues to spread. The next place where citizens have gotten crazy ideas of internal rule into their heads is well to the south on the Iberian Peninsula. Portugal – a nation which has experienced plenty of unrest of its own in recent years – is now home to some stiff backed rebels who are getting pretty fed up with the European Union themselves and are talking about a similar referendum. (Wall Street Journal)

A key ally to Portugal’s Socialist government said the country should consider holding a referendum on the European Union membership if the EU decides to impose sanctions over last year’s missed budget target.

While Portugal’s Socialist party is deeply pro-EU and calling a referendum would be highly unlikely, Left Bloc’s move puts pressure on the government and Prime Minister António Costa, as well as the European Commission, which is awaiting Spain’s election results to decide whether both countries should be sanctioned after their deficits ended above a 3% of gross domestic product threshold…

“If the European Commission undertakes the grave measure to apply sanctions on Portugal…the European Commission declares war against Portugal,” Left Bloc leader Catarina Martins said on Sunday.

Not for nothing, but it’s interesting to note the reason that observers find the idea of Portugal abandoning the EU to be “unlikely” at best. It’s because the ruling powers there are opposed to the idea. And who might that be? It’s the socialists. Of course those with a socialist bent are in favor of a globalist collective which subjugates the nationalistic tendencies of the natives and a sense of independence. This is a concept which has deep roots in the socialist belief system around the globe.

The European Union isn’t nearly as cohesive as its proponents would have us believe, but when did the cracks begin to show and what would it take to tip it over completely? An analysis at ZeroHedge concludes that this entire “uprising” dates back to when the Dutch rejected a treaty between the EU and Ukraine. This has already spread to France, and if they bow out, the EU is essentially toast.

Therefore, if LePen emerges victorious in next year’s presidential elections, that means the next major player in the EU after Germany is out and there goes the EU.

This entire civil uprising in Europe is underway ever since two months ago when Dutch voters overwhelmingly rejected a Ukraine-European Union treaty. Angela Merkel’s Germany now faces having to pay an extra 3 billion euros a year to the annual EU budget once Britain leaves.

This alone is prompting German government officials to propose that Britain is offered “constructive exit negotiations” to keep their dues coming in. Some are now talking about a quasi-membership for the UK calling it an “associated partner country” to keep the money flowing.

Recall that Portugal is one of the so called “PIG” nations (Portugal, Ireland and Greece) which we discussed frequently when Greece first looked like it might go under. This may call some of their motives into question because they’ve benefited handsomely from the EU’s financial help during their own budget crisis and are now facing sanctions if they fail to stick to their mandated economic recovery plan. But stranger things have spurred an independence movement in the past, and if this is what it takes for them to shake off the EU, perhaps it’s for the best. It would no doubt be a very rough and winding road for Portugal to strike out on their own and the potential for significant unrest exists, but they would no doubt come out of it stronger if they managed the feat.

The EU could probably survive without Portugal, at least for a while, the same way they’ll likely soldier on without Great Britain. But how many countries in total could pull out before the Jenga tower begins to topple? If we see France join the list I’m guessing it won’t be long at all.


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