What are the Brits doing? On June 23 they will vote in a referendum on whether to remain in the European Union, to which they have belonged since 1973. It is rare for a marriage of more than forty years to break up, especially by the decision of the partner that had asked twice for betrothal.
The motto of the ineffable billionairess came to mind recently with the publication of the Panama Papers. This huge set of files leaked from a Panamanian law firm, Mossack Fonseca, documented the tax haven dealings of the world’s richer denizens.
Britain’s divorce from the European Union will be a tortuous affair. The British establishment losers in the June 23 Brexit referendum were shocked by the vote to leave, as were the financial markets: Sterling’s value slumped some ten percent on the foreign exchange markets and the U.K.’s credit rating was cut.