00:00Recent polling by Ipsos shows that a majority of the British public are in favor of rejoining the EU.
00:05Politicians are increasingly open to Europe, either by establishing closer ties with the continent or pushing the prospect of rejoining.
00:12Economists struggle to agree on how much Brexit has cost the UK.
00:16Some Brexiteer economists, such as Cambridge University's Graham Gudgeon, put the damage at 1%.
00:22Bloomberg judges it between 2% and 4% of GDP, while less conservative estimates go as high as 6
00:28% and 8%.
00:29Brexit supporters argue that over the years, the positives will build, which they may, said Richard Partington in The Guardian.
00:36Some also claim that Brexit was botched, which could also be true.
00:40But the world is heading in a Brexit-hostile direction, said Martin Wolf in The Financial Times.
00:45In 2016, the idea of global Britain was not quite as absurd as it is today, with globalization in retreats,
00:52the US unreliable, Russia at war in Europe, and China even more autocratic and mercantilist.
00:57So what now?
00:58No country has ever left the EU and then rejoined, but it is possible.
01:02To seek to do so, the UK would have to apply through the framework set out in Article 49 of
01:08the Treaty on European Union, and it would need the support of all EU member states.
01:12Realistically, the entire process could take many, many years.
01:16Even relatively straightforward, first-time membership accessions can take close to a decade.
01:21Some believe the answer is to emulate Switzerland's patchwork of treaties with the EU.
01:26This could bring the UK closer to its European partners again, bit by careful bit.
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