The tumult following last week’s vote in the United Kingdom to leave the European Union intensified on Monday when it was revealed that a new “superstate” is being considered in which nations would “lose the right to have their own army, criminal law, taxation system or central bank,” according to one report.
Britain’s credit rating also took a hit, more nations expressed interest in following the U.K., outgoing Prime Minister David Cameron’s political party was in shambles and Russia described the ruckus as being similar to the breakup of the old Soviet Union.
WND reported on Friday the vote already prompted the resignation announcement by Cameron and the interest expressed by France, the Netherlands and Italy for a referendum on EU membership.
Stock markets around the world declined again on Monday, following Friday’s fall that left the U.S. stock market off its highs by about 2 or 3 percent. Monday’s decline was only half that, but still amounted to tens of billions of dollars of value vanished from corporate books and citizens’ retirement accounts.
The nearly 50-year-old union reached no level of stabilization over the weekend and on Monday, the Express reported “the foreign ministers of France and Germany” were revealing “a blueprint to effectively do away with individual member states.”