The BBC has been non-stop all day on the domestic consequences of Britain leaving the EU. On reflection, however, it seems to me that the biggest consequences by far will be the effects it will have on the general condition of Europe. Whereas only a year or two ago, public opinion within Europe was quite strongly in favour of the EU, today the mood is quite different.
There are now extreme right-wing parties in all the north-western European countries which are totally opposed to the scale of immigration that has occurred so far. In addition, President Hollande has already been angling for subsidies from Germany — and getting short shrift — and, in Italy, the government there is fast heading towards the highest national debt in the world second only to Japan’s.
In short, the EU is already in a far worse condition, politically and economically, than anything that was threatened by David Cameron, George Osborne. Mark Carney and others if we hadn’t voted to remain in the EU yesterday. However, in the chaos that will likely follow in Europe in the next few months, this country might prove to be the catalyst, but certainly not the cause.