Brexit Means Brexit (But What Does It Mean for Global Wine Markets?)

Well wine fan’s There is a reason Mike is one of my favorite bloggers, he is thoughtful and his facts are actually facts. This post on the impact of Brexit and it’s impact on the wine world is just wonderful. It has not editorial conclusion that you can take to the bank, but it gives us a lot of information to think about and prepare ourselves to watch the Brexit process unfold. Enjoy.

The Wine Economist

“Brexit means Brexit,” according to British Prime Minister Theresa May and a host of other officials. If all goes according to plan PM May and the United Kingdom will formally begin the process of exiting the European Union in March 2017 when Article 50 of the Lisbon Treaty is invoked, starting a possibly irreversible two-year ejection-seat countdown.

Know What I Know?

But Brexit isn’t as simple as walking out the door and will require detailed negotiations on dozen of issues. No one knows what the terms of the exit agreement will be, so no one really knows what Brexit really means. Brexit means Brexit? Nonsense.

Brexit is best understood at this moment as a “known unknown” in Donald Rumsfeld’s famous taxonomy (see below) and not a “known known” as some people pretend.

Britain is sharply divided about what Brexit negotiations should seek to accomplish and in any case each of the…

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About Poor Robert

A simple man with many interests to share with all who wish my company and knowledge.
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