Advertisement

Brexit vote is ‘destabilizing,’ next few years will not be easy: Chalmers

Brexit vote is destabilizing and next few years will not be easy for U.K.: Chalmers
Professor Damian Chalmers of the Institute for the U.K. in a Changing Europe tells Tom Clark the Brexit vote will result in  a difficult few years of adjustment.

The British public’s decision to leave the European Union behind will result in several years of instability, says one expert, both within U.K.’s borders and beyond.

Professor Damian Chalmers of the Institute for the U.K. in a Changing Europe told the West Block’s Tom Clark that the knife’s-edge Brexit vote last week has already prompted calls for referenda in other European nations like France, as well as a do-over referendum on Scottish independence.

“It’s certainly very destabilizing,” said Chalmers of the vote. “Certainly it will not be an easy couple of years for the United Kingdom.”

WATCH: Financial advisors say it’s time to keep calm

Brexit: Financial advisors say it’s time to keep calm
Brexit: Financial advisors say it’s time to keep calm

 

Story continues below advertisement

In spite of the anticipated economic and social turmoil, however, Chalmers said it would be premature to characterize Brexit as the beginning of the end for the European Union as a whole.

“I’d be very hesitant to say that,” he said. “Many incumbent politicians will have seen what’s happened today to (British Prime Minister) David Cameron, and that will be a strong incentive not to hold a referendum (on remaining in the EU) in European states.”

WATCH: Tom’s Take: The link between Brexit and Donald Trump

Tom’s Take: The link between Brexit and Donald Trump
Tom’s Take: The link between Brexit and Donald Trump

 

On the other hand, he added, increasingly populist opposition parties in some countries may call for a Brexit-style vote in order to win over people who have become disillusioned with the current system.

For Cameron, however, the road ends here.

Story continues below advertisement

Chalmers said the British PM woefully miscalculated the sharp divisions between the perceived winners and losers of globalization. The result was a series of “quite embarrassing personal circumstances for him.”

READ MORE: Scottish leader may try to block ‘Brexit’ as turmoil spreads

Cameron has said he will step down as prime minister in the wake of the referendum, but he’s not the only leader facing backlash for his approach to the campaign.

“There is a sense that both (sides) distorted and lied, they refused to hold themselves accountable for lies,” Chalmers noted. “It’s not clear to me that we’ve seen the end of it, unfortunately.”

WATCH: Continuous fallout over Brexit vote. Vassy Kapelos has the latest.

Continuous fallout over Brexit vote
Continuous fallout over Brexit vote

Asked if Britain could have a change of heart and somehow reverse course, he said it’s highly unlikely.

Story continues below advertisement

“I think legally, it’s of course possible to go back. Politically, I think it is almost impossible.”

Watch the full interview above.