Sri Lanka PM calls for Commonwealth economic arrangement after Brexit

ECONOMYNEXT – Sri Lanka’s Prime Minister Ranil Wickramamsinghe has called for greater economic and trade links among Commonwealth nations after the Britain’s decision to exit the European Union.

The time has now come to think of a new arrangement to strengthen economic and trade link among members of the British Commonwealth, Wickremesinghe had told a forum in New Zealand.

Wickramasinghe had said the Kotte declaration, made in Sri Lanka following a summit meeting in 2013, can be used as a basis for economic integration.

Sri Lanka and New Zealand, are members of the British Commonwealth, made up of former units of the British Empire.

Britain exited the European amid a wave of nationalism sweeping western nations, following weak economic performance. Nationalists have targeted free trade, immigrants and minorities.

Hitler’s National Socialism also rose in the wake of economic troubles of the 1920 of loose fiscal and monetary policy socialist administration which led to hyperinflation.  In that incident Jews were blamed for the economic troubles.

The US and Europe faced an economic meltdown after prolonged loose monetary and fiscal policies. (Colombo/Sept04/2016)