EU: UK economic success would create 'discontent' says Amyot
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Europeans may grow increasingly disillusioned with Brussels in the event the economies of the UK and US bounce back quickly while those of the member states stall. This is the prediction of the European politics expert Grant Amyot. He has warned that despite the sizeable relief package planned by the EU to try and ward off economic collapse following the Covid pandemic, citizens across Europe will revolt if they feel the recovery has not made their lives better-off.
In the event the EU mechanism failed to secure a quick economic recovery, Professor Grant Amyot told Express.co.uk: “The end result will be people will not feel they are better off.
“They’ll feel they have suffered especially if the US economy for example comes roaring back.
“Or the British economy which at least on the health front is doing the right things to move toward recovery.
“Then people will begin to be discontent.”
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However, he did conclude that the Brussel might be able to fend off a repeat of the Eurozone crisis following the 2008 financial crash.
The politics professor told Express.co.uk: “As for an actual debt crisis I think the European central bank is prepared to step in and avoid that.
“They are already buying up lots of government bonds through a special program.
“So I don’t think we are going to see the same kind of thing we saw in the Eurozone Crisis.
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“Where governments were on the brink of default and going cap in hand to the European Union.”
Earlier the Professor of Political Science at Queen’s University in Ontario told Express.co.uk that the EU has reflected on the imposition of austerity on member states following the 2008 financial crisis and the economic impact that the policy had.
He explained: “[The EU] at least learnt enough that they are not going to do [austerity] this time in any really harsh way.
“The fact that the austerity measures were totally counterproductive and just sank these countries further into recession.
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“Without solving their debt problems at all as sunken in even with the most orthodox of German economists. Who was pushing for the hardline austerity measures.”
Instead, Professor Amyot believes the next financial crisis to engulf Europe will play out differently from the last.
He told Express.co.uk: “The measures won’t be effective enough, they won’t be strong enough.
“People will blame the EU.”
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