Ten Years After Brexit: Is Europe’s 'Predicted Catastrophe' a Warning for South Korea? | Europe Analysis ①

The United Kingdom and Europe are marking the 10th anniversary of the Brexit referendum amid internal and external turmoil. They are first grappling with mounting external threats. At the NATO summit held earlier this month, U.S. President Trump once again applied pressure, declaring, "I will cut off all trade with Spain if they refuse to raise their defense spending to 5% of their GDP!" Regarding Denmark, he questioned once again when they would finally hand over Greenland. These are clashes within the Western bloc that would have been unimaginable just a few years ago.

With the long-standing European fear of "Russian expansionism" and the massive variable of "China's rapid rise" consuming the modern European economy weighing down on them simultaneously, Europe is now facing a monumental challenge in its relationship with the United States as well.

One of the biggest issues within Europe that appears to have crossed a critical threshold is the conflict surrounding immigrant communities. "It looks similar to the atmosphere in Germany just before Hitler's rise." The influx of immigrants is, in fact, an inevitable phenomenon for all developed countries in the modern world. South Korea is no exception. So why are such extreme problems erupting specifically in Europe? In almost every European country, "far-right parties" (extreme nationalist parties) have grown into forces that can no longer be ignored, creating a political sensation. However, there is one European country that has avoided this "far-right storm": Denmark. What is the reason Denmark has been able to be the exception?

Amidst these internal and external troubles, European nations have fallen into a quagmire of populist fiscal policies, "relentlessly piling up national debt." Experts agree that this is the most serious trap Europe must escape from. The biggest problem currently facing Europe is that there is not even a sign, or the will, to escape this quagmire. Where is Europe, now a combination of extreme nationalism and populism, heading? Europe, which has always been a model for South Korea, is now becoming a cautionary tale, with people saying, "We must at least avoid becoming like Europe." How will the situation in Europe unfold in the future?

"The U.S. and Europe cannot get a divorce. They are just living like a dysfunctional couple who only share talk of money. Because..." [Ttoksori Talk], an independent segment of [Ttoksori E], is here! Together with Cho Hyun-seung, a senior research fellow at the Korea Institute for Industrial Economics and Trade (KIET) and one of South Korea's top experts on international relations, we have sharply analyzed the direction in which a crisis-ridden Europe is heading and the valuable lessons South Korea should learn from a faltering Europe.

1. U.S.-EU: "A couple who fight but still share finances"
2. Another British Prime Minister ousted
3. "British two-party politics shattered like an earthquake"
4. Why is Denmark the only 'far-right-free zone'?
5. Is Europe reminiscent of the period just before Hitler's rise?
6. The populist 'debt trap' that they enter while knowing the consequences

Reported by Kwon Aelee | Camera by Park Woo-jin and Kim Sang-yoon | Written by Jung Seo-woo | Edited by Chae Ji-won | Designed by Chae Ji-woo | Intern Kim Hye-won | Produced by Knowledge Contents IP Team
※ Please note: This article was translated by AI and may contain errors.