Rocked by Brexit vote, Gibraltar lays plans for new kind of EU relationship
Rocked by Brexit vote, Gibraltar lays plans for new kind of EU relationship
Posted by John P. Bradford // October 23, 2016
But Spains readiness to play hardball on UK sovereignty means negotiating a prosperous future for the territorys businesses will not be a simple matter
According to more than one member of Gibraltars business community, it felt like someone had died. The day after Britains Brexit vote, this outpost of Albion on Spains southern tip was in shock.
The Rocks residents voted 96% to remain. Its flourishing economy, built around financial services, e-commerce and online gaming, is based on the single market and free movement: every day, nearly half its entire workforce 12,000 Spanish and other EU nationals commute across the border.
Worse, Madrid has made it clear that it views the UKs eventual departure from the European Union as its best chance in three centuries to reclaim sovereignty over a territory it has regretted ceding to Britain ever since 1713.
Alarmed by the governments apparent preference for a hard Brexit, prioritising immigration controls and judicial sovereignty over single market access, Gibraltars leaders and its businesses are scrambling to devise a Plan B.
I think a hard Brexit would be very, very challenging to the economic model that has been the source of our prosperity for 30 years, Gibraltars chief minister, Fabian Picardo, said in an interview.
So while Theresa May talks of a great repeal bill to end the authority of EU law in the UK, Picardo is working on what he terms a great continuation bill aiming to preserve as many of Gibraltars EU advantages as he can.