Boom bang-a-bang for Brexit?

posted by 5 years ago in News

The Eurovision song contest is back for its 61st year this weekend with big hair, national costumes, unconventional props and high energy dance routines. Whilst there’s no denying that all appears harmonious when it comes to the European singing contest (well, at least until the UK gets nul points that is!) the governor of the Bank of England has warned that all won’t be quite so rosy if the UK votes to leave the European Union in the referendum next month.

DAVOS/SWITZERLAND, 30JAN10 - Mark J. Carney, Governor of the Bank of Canada captured in the session 'Financial Risk Management 2.0?' of the Annual Meeting 2010 of the World Economic Forum in Davos, Switzerland, January 30, 2010. Copyright by World Economic Forum by Sebastian Derungs

Image: World Economic Forum, Wikimedia Commons

Mark Carney has stated that a ‘no’ vote could plunge the UK into another recession. He’s reported to have said that the risks could “include a technical recession”. Prime Minister, David Cameron’s called the warning a “very clear message” for voters. In addition, the bank’s Monetary Policy Committee (MPC) has said that leaving the EU could cause a rise in unemployment and trigger a fall in economic growth and the strength of the pound.

Carney’s comments have provoked anger from critics who are keen to point out that there are huge opportunities for the UK outside the EU. Leave.EU co-founder Arron Banks is reported as saying “This is just the latest round of deliberately vague, politically motivated Establishment scaremongering.” He went on to call the governor’s speech “hollow”.


Image: UK entrants Joe and Jake by Albin Olsson via Wikimedia Commons

And what of the great multi-national singing competition? Fans have expressed concern that a Brexit could mean the UK leaving the musical extravaganza. However, membership states that all are welcome as long as they share the ‘European vision’, hence why Australia have taken part for the past two years.

The USA might not be far behind Australia as they’re televising the event live for the first time ever this year and are showing their support for the competition with a live performance from Justin Timberlake. A Brexit could well shake belief that the UK share that vision although as one of the ‘big five’ countries who fund the competition it’s unlikely the UK will be asked to leave. It’ll be interesting to see how many votes the rest of Europe give the UK’s entrants Joe and Jake in the competition on Saturday night!

Main image: Eurovision 2015 winner Måns Zelmerlöw by Ailura via Wikimedia Commons