And it happened while Britain was a member of the EU

Brexit: Blame it on the banking crisis

The banking crisis was damaging in many ways, most obviously through the output and fiscal costs of the recessionary shock that it imposed on the economy. The key point for the argument of this column is that it reduced the level of potential output in the economy and accordingly raised the structural budget deficit

There are good reasons to think that the banking crisis was profound in Europe where two nations when bankrupt, one is almost there, and one is in rebellion. The EU system consists of interest payment to German banks engineered by idiot economists, most of them from MIT where math skills are scarce.

There are very good reasons to think that Brexit was a good idea, escape from the aggregated banking system.   Your column does not argue crap, you start with the assumption that all economists think that aggregated, closed banking systems do not deliver increased stability.  Fart from it, most banking economists get the problem, you hang around a select group of biased economists.

UK in its geography and history has never been a part of a bankrupt, closed banking system in Europe, never in its history, it would be abhorrent to think it a good idea.