After the EU vote, it's time for some clear thinking on trade | Joseph Stiglitz

Politics should now be directed at understanding how the establishment could have done so little to address the concerns of citizens

Digesting the full implications of the United Kingdom’s Brexit vote will take Britain, Europe, and the world a long time. The most profound consequences will, of course, depend on the EU’s response to the UK’s withdrawal. Most people initially assumed that the EU would not “cut off its nose to spite its face”: after all, an amicable divorce seems to be in everyone’s interest. But the divorce – as many do – could become messy.

The benefits of trade and economic integration between the UK and EU are mutual, and if the EU took seriously its belief that closer economic integration is better, its leaders would seek to ensure the closest ties possible under the circumstances. But Jean-Claude Juncker, the architect of Luxembourg’s massive corporate tax avoidance schemes and now president of the European commission, is taking a hard line: “Out means out.”

Related: Brexit: EU leaders say UK cannot have 'à la carte' single market

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