- Created: Wednesday, 01 June 2016 10:07
- Written by David Yaffe
The imperialist character of Britain is decisive in determining all the major economic and political developments in this country. The parasitic character of British capitalism, its dependence on the earnings from its vast overseas assets and particularly those of its parasitic banking sector to sustain the British economy, has made it extremely vulnerable to the global crisis precipitated by the financial crash of 2007/08. The continuing global crisis of the capitalist system, the growing conflicts between the imperialist powers, the destabilisation of entire regions of the world, forcing millions to flee to survive, has severely undermined Britain’s capacity to sustain its role as an independent imperialist power. These developments have brought Britain’s relationship with the European Union (EU) to a head. David Yaffe reports.