If any other country was going to do it, it might have been Greece during the financial crisis, but ultimately the same pressures apply: no country can pull up the drawbridge. Dependency on trade, investment, and migration of skilled staff is the backbone of a modern society. And leaving the EU does not make Europe go away, it just removes that country from the decision-making process.
For most other members of the EU, leaving it would be extremely painful, due to much higher levels of integration. Issue a new currency, which will probably rated worse than the Euro, see bond rates spike, have to close borders again, for both people and capital. For most EU members leaving the EU would send their GDP tumbling double digit figures.
So while I absolutely hate to see it happen because I've got lots of friends in the UK, this is either going to hurt badly (hard Brexit), or the UK will simply lose any ability to shape the future of the EU while accepting most of its rules. Don't see any middle ground as the middle ground would massively hurt all other EU countries so its not going to happen.
Exactly. The UK's main leverage in negotiations was "do what we want or we leave". Now that they're leaving, there's nothing left.
As for the UK, there are other ways for it to survive and even thrive, but whether it will be good or not so much for most of its citizens, remains to be seen.
Italy is helmed by Eurosceptical parties. They're committed to playing nice for now. But if their economic policies hit the rocks, it may be easier to blame the EU than structurally re-organise the Italian south.
At least the UK could argue that it may get better trade deals, but what's in it for Italy?
This is not clear, particularly if a sovereign Italy ends up being much more aggressive with detaining, punishing and deporting unwanted entrants.
> At least the UK could argue that it may get better trade deals, but what's in it for Italy?
I don't think there's a rational reason that outweighs the downsides. That doesn't mean it won't be politically advantageous for the party in power.
I'm not arguing for Italy's exit. Just against the assertion that "there's no sign of anyone" other than Britain "leaving" [1].
Brexit aside, will they? They don't have a track record of doing so previously.