Should I Stay or Should I Go? Brexit, Extortion, and the Path to Reform

There is a Mafia-like quality to the threats emanating from EU officials, who are acknowledged to be contemplating how much punishment they can mete out to the UK if the people should dare to vote the wrong way. "Vote Remain, and nobody gets hurt." Or, as the New York Times headline today put it, "E.U. Countries Warn Britain on 'Brexit': You'll Pay if You Leave Us."

It is reminiscent of the European authorities' threats, and ultimately the ECB's shutdown of the Greek banking system, in an attempt to force Greeks to vote yes in a referendum last July 5 on further austerity. The defiant Greeks voted no with a 62 percent majority, but their government was subsequently beaten into submission.

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