Brexit: How much do you know about the UK referendum?
The referendum was not a mandate for Brexit, and so it’s a moot point whether there was a mandate to leave the European Union.
But if the Brexit vote was about Brexit, then there is no reason to expect that the UK would want to be a member of the European Economic Area (EEA), a loose association of 17 countries.
So the Brexit question is a moot one.
The UK has no trade deals with the rest of the EU, but it is part of a European Union that is heavily dependent on imports of goods and services from the rest.
The EEA is a bit like a free-trade zone, but one that allows some tariff and non-tariff barriers to be imposed on goods, services and people coming into the EU.
While this may sound like a pretty simple arrangement, the European Commission (EC) has a history of enforcing its own tariff barriers.
The EU has been very reluctant to impose tariff barriers on goods coming into its territories, but there is a precedent for this.
In 1992, the EC imposed a tariff on French wines.
It was not because French wines were bad, or that France was a poor country.
Rather, it was a consequence of the EC having an interest in protecting its markets, and because the EC wanted to maintain its influence in France, so it imposed tariffs on all French wine produced in its territory.
Since then, the Commission has enforced some of the same tariffs on imports from China, as well as on the Australian wine sector.
In short, the UK has a long history of imposing tariff barriers that are very, very strong on goods entering its territory, so there’s no reason for the UK to want to leave EEA.
There’s also no reason the UK should want to join the European Monetary Fund (EMF), a bailout fund that has been instrumental in helping the eurozone economies of Portugal, Ireland and Spain.
And it’s worth noting that the European Central Bank (ECB) does not currently have a bailout program in place to help the UK.
Nevertheless, the Brexit issue is very important for the EU’s leaders.
They have a very tough task ahead of them, given that Britain’s economy is the second-largest in the EU behind Germany.
A second referendum would be a disaster for the British economy and the EU as a whole, and it would certainly be an unwelcome move for the EIB and other bailout funds.
The European Central States are not just an EU financial institution, they also provide an additional lifeline for its member countries.
They have been very active in providing monetary support to countries such as Portugal, the Netherlands, Spain and Italy over the last decade.
According to the European Council on Foreign Relations, the EU is now the fourth-largest financial contributor to the IMF.
To date, the ERC has provided nearly €500 billion ($620 billion) to help member countries of the eurozone through the fiscal crisis, as part of its EFSF program.
That’s more than the EU spent on any other single-country bailout program.