The results of the British referendum (51.9 percent for "leave" and 48.1 percent for "remain") aroused feelings of shock, horror and shame to the many millions of British people who wanted to remain in the European Union. The outcome has been welcomed by such divisive figures as Donald Trump, Russian President Vladimir Putin and leaders of European extreme right-wing parties, but greatly regretted by all Britain's real friends.
How could a majority of British voters have decided to ignore the advice of the leaders not only of all Britain's allies and partners as well as of their own party leaders and the vast majority of experienced economists? Why did they vote for Brexit without any clear idea of what future arrangements can be made for Britain's trade and economic wellbeing, and of how new and satisfactory terms can be agreed?
The leave campaigners repeated lies ad nauseam and peddled myths. They circulated stories about Brussels' bureaucratic meddling and regulations. They recycled untruths about how much membership of the EU cost Britain. They promised to spend many times the alleged savings on crowd-pleasing measures such as more funding for the National Health Service and abolishing value-added tax on energy bills.