French president Francois Hollande says that the British succession, or “Brexit,” from the European Union cannot be delayed or cancelled. In a hard line stance against the so-called Brexit vote, the French president stood firm on his assertion that the result could not be cancelled, even though many in the United Kingdom has viewed the vote with regret.
These comments, as reported by British media organization The Guardian, come directly after a meeting between current British prime minister David Cameron and French president François Hollande. Hollande has taken a hard line stance on the results on the British vote that calls for their exit from the European Union and will not allow for the move to be delayed or cancelled.
— Loïc Hofstedt (@LoicHofstedt) June 28, 2016
Although the French president understands that most people in the United Kingdom have come to regret their decision to leave following the vote, he stands firm behind their decision and will not allow for any flexibility, simply stating that it cannot be delayed or cancelled.
“Being in the European Union has advantages. And that’s … what the British are starting to understand,” French president François Hollande said. “Those who were tempted by the Brexit are starting to think it over.”
What seems to be the most important issue at hand at this point for French president François Hollande is that the British make this transition as seamless and painless as possible, not only for their citizens but also for the rest of the world that could possibly be affected by the Brexit vote. That is why it cannot be delayed.
The reason that French president François Hollande says that the move cannot be delayed is because there is so much uncertainty about the move and it could have certain catastrophic effects on the world economy if it is delayed. U.S. stocks have already had some downward movement and there is also the British pound that is losing value by the day, especially when compared to the U.S. dollar.
VIDEO – François Hollande on Brexit: “we should not waste time to start UK’s departure… https://t.co/2Nkdmr4x09 pic.twitter.com/1KOvdRmqyw
— FRANCE 24 English (@France24_en) June 27, 2016
If the Brexit was delayed, then that could lead to even more uncertainty in the world and could have some disastrous consequences, especially if it were to be cancelled following all of the global press coverage. Instability would ensue, thus reinforcing that it cannot be delayed.
The “cannot be delayed” sentiments of French president Francouis Hollande have also been sounded off on by current European Union president Jean-Claude Juncker, who is from Bratislava. They both seem to agree that Brexit cannot be delayed or cancelled.
“There will be no negotiations whatsoever before notification and we are inviting the British authorities to make their intentions clear,” Juncker said in response to Brexit. “We do not have time to lose; we cannot add uncertainty to uncertainty.”
But there are other things to consider once the British exit actually goes into effect. The freedom for people in the European Union to move about freely between certain markets will have to be clearly addressed to the citizens of each country. That is something that Juncker will not back off from following the exit. He said that the British will have to accept the freedom of movement in the market if it intends to stay in the single market and he will not give on that point either.
With the market at stake within the European Union, then there is no room for Brexit to be delayed or cancelled. Even though there has been some slight consequences to U.S. stocks, that is nothing compared to what will happen in the European market if uncertainty becomes too high of a factor. At that point, it becomes its own beast and the market could crumble if the British take too long to assert their new position in Europe.
Brexit cannot be cancelled or delayed, says François Hollande https://t.co/eBsNJfwH5O
— Guardian Australia (@GuardianAus) July 2, 2016
But with people within the U.K. that think British exit is something that should be delayed, the rest of the EU thinks otherwise. Just like French president François Hollandes said, it cannot be delayed or cancelled at this point in order for the market to stay afloat.
[Photo via Frederic Legrand – COMEO/Shutterstock Images]