A Remainer’s Lament

A Conversation With Ed Balls

Ed Balls

  • Country: United Kingdom
  • Title: Former shadow chancellor of the exchequer

A longtime member of the United Kingdom’s Labour party, Ed Balls was elected to parliament in 2005 and served as shadow chancellor of the exchequer from 2011 to 2015. Before that, he was chief economic adviser to the Treasury and a columnist at The Financial Times. Now a senior fellow at the Harvard Kennedy School, Balls, who supported the Remain campaign, spoke with Foreign Affairs deputy managing editor Stuart Reid in London on July 6. 

What were the motivations voters had for leaving the European Union?

There's been some big changes in our economies over 20 years as a result of globalization, and I don’t think that either politicians or economists properly understood what those meant. One was that, 20 years ago when I was involved in making the Bank of England independent, we all thought that the biggest threat to stability was going to come from the government’s mistakes regarding inflation. And

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