Brussels fears Brexit will be ‘THE END’ of EU due to devastating domino effect
EUROPEAN leaders are scrambling to avoid a total collapse of the EU amid fears Brexit will inspire other countries to quit the union.
Senior officials are terrified a ‘Leave’ vote in next month’s referendum will cause a domino effect in the 28-state bloc - with one official revealing Brexit will be a “historical disaster.”
High-ranking Eurocrats have held a series of meetings in recent weeks to thrash out how the union will exist without Britain and how to stop other countries from following suit.
One senior French official told the Financial Times: “Playing down or minimising the consequences would put Europe at risk. The principle of consequences is very important — to protect Europe."
Another said: “Making Brexit a success will be the end of the EU. It cannot happen.”
At meetings in Hanover, Rome and Brussels, EU leaders have been discussing how exactly to react to a ‘Leave’ vote on June 23.
One diplomat said the focus would immediately switch to strengthening the bond of the remaining 27 members - for fear the bloc will quickly shrink to just the hardline 19 Eurozone members.
He said: “Everybody will say: ‘We’re sorry, this is a historical disaster but now we have to move on.’
“And then they will say ‘okay, David, goodbye, because now we have to meet as 27 leaders.’
“That will be rather a decisive moment: will the 27 find the energy, the convergence of views to define a common agenda or whether it will be only the 19?”
Representatives from France and Germany are divided over how the union should react if Britain votes to leave. French diplomats want to send a strong message to the rest of the continent, highlighting the financial and political turmoil, while Germany wants to take a lighter approach and let the stock markets do the talking.
The German diplomat said: “For us it is much better if the price tag is delivered by the private sector.”
There are also deep divisions between high-ranking policymakers, including commission president Jean-Claude Juncker and Eurogroup chair Jeroen Dijsselbloem.
Mr Juncker wants to use Brexit to draw the Eurozone closer together, while Mr Dijsselbloem feels this would be a risky tactic and that a more subtle response should be used.
Mr Juncker said: “We have full-time Europeans when it comes to taking and part-time Europeans when it comes to giving. That is a problem.”
Mr Dijsselbloem, however, said: “If a negative outcome of the UK referendum should be interpreted as a vote against Europe, it doesn’t make sense in my view to respond immediately by asking for more Europe.”
A summit for all 28 members - including Britain - is scheduled to take place on June 28 and 29. This meeting will provide the first look at how Europe will respond to Britain’s historic decision.