I have previously written numerous article concerning this subject, but none was really analyzing the long term effect, now i decided to do so.
London Capital of Europe
English is the world most influential language, and was for a long time the most widespread second language, whenever you group several people from different countries, the predominant language would be English, and that statement is even more true in Europe (unless the countries have a common language).
Long term, London was destined to becoming the Capital of Europe, simply because it’s the only place where you can group hundreds of bilingually diverse people, people with a common language and at the same time a distinct language allowing them to communicate with the world. As a result of that, it was destined to become the hub for all the multinational companies that wish to operate European wide.
Why the BREXIT is good for the EU
1- Multinationals: By exiting the EU, the UK kind of forced the big companies to move to continental Europe, and without a single heavy weight, like in the case of London, it is expected that companies will spread across several countries, that means there’s more jobs that are going to be created in many EU countries, and the multinationals will boost the economy of several countries not only one.
2- Banks Migration: The financial institutions are expected to move to continental Europe, thus the EU will have a better control of how the finance sector is operating, thus avoiding any perturbations.
3- The UK political weight: The UK was not playing and never actually played team Europe, it was more aligned with the US politics. US politics and EU politics are not the same, and by exiting, the UK did undermine the US influence on the EU politics.
4- National Identities: The UK presence in the EU was basically pushing towards a unique language, because as mentioned previously “English” is a very important language. But with no UK in EU, more of the EU languages will be promoted.
5- Less unskilled migrants: Put aside the economic refugees, the biggest destination for unskilled migrants in Europe is the UK. Why ? simple, because half the earth populations speaks some level of english, and the UK economy is good. With no UK in the EU, it’s less tempting for young men to migrate from Afganistan, Pakistan, Africa … to a EU country where they will not be able to understand a single word.