Germany, Europe and the world – everyone is talking about “Brexit.” Search for it on Google and you’ll have 87 million results to choose from. Everyone knows what it means: the subject of Thursday’s bitter referendum: should Britain (Br) leave (exit) the European Union? A fateful decision and a historical event.
But where does the term “Brexit” come from? When and where did it first appear? It takes quite some tracking down, since it is not as simple as “Grexit,” the name for a possible Greek departure from the euro zone. “Grexit,” it can be safely said, was coined by Willem Buiter and Ebrahim Rahbari, two economists from the Citigroup, who wrote this sentence in an article in February 2012: “We are raising our estimate of the probability of a Greek departure from the euro zone (‘Grexit’) to 50 percent in the next 18 months.” And so “Grexit” was born.
The term then spread like wildfire, becoming the model for a series of further coinages. This included “Brexit,” although this word referred to a referendum decision on leaving the E.U., rather than a forced expulsion from the euro zone. Among the first to use the new term “Brexit” was the think tank British Influence, who used it in a tweet in May 2012. “Stumbling towards the Brexit,” wrote the non-profit, which campaigns for a more active role for Britain in the European Union and the world, claiming that E.U. membership makes the country “stronger, safer, more influential and more prosperous.”