At the height of its power, the United Kingdom of Great Britain had the largest empire in recorded history, reflecting the achievement of the first Industrial Revolution which gave economic advantage combined with a navy which commanded the high seas.

The empire started from the 18th century and lasted until the late 20th century and would have been even greater had the American colonies not broken away. One enthusiastic official boasted that the sun would never set on the British Empire.

At its peak, the British Empire controlled an estimated 458 million people, or about one-fifth of the world population. Its land area was over 13,000,000 square miles, the equivalent of one-quarter of the Earth’s total land area.

Today the United Kingdom consists of a land area of 94,058 square miles and contains a population of 64 million. If fragmentation takes place over whether Scotland, Wales or Ireland leaves the UK for the European Union, and England goes it alone, then it will be a mere 53 million in an area of 50,337 square miles.

Britain’s decision to leave the European Union seems likely to have adverse consequences with the effect of a diminution of its economic and diplomatic clout. But this diminution from global power to small island developed State, as so many have pointed out, has consequences for the rest of the world including the Caribbean.

Much wringing of hands, gnashing of teeth, and rending of garments was the immediate reaction in the Caribbean. A great deal has been said by way of grim prognoses such as loss or reduction in development assistance.

We take note of the University of the West Indies (UWI) convening yesterday a seminar on different aspects of the implications of Brexit. The panellists were mainly from UWI academic staff, but included former Prime Minister Bruce Golding, Mr David Jessop, Ambassador Richard Bernal, and Professor Brian Meeks.

UWI is to be congratulated for mounting this seminar demonstrating that it is focused on the issues which are most critical to the Caribbean region. We especially commend UWI for coming into the modern arena by live streaming the event and engaging some speakers who were physically outside of the region. We hope that there will be some kind of rapporteur’s report which captures all of the wisdom dispensed.

Brexit must be on the agenda of the next Caribbean Community (Caricom) Heads of Government Summit from July 4 to 6, 2016 in Guyana. The Caricom Secretariat should take a leaf out of the UWI book and quickly establish a group of experts headed by a suitable person such as Mr P J Patterson to follow developments of Brexit and their implications for the Caribbean and to produce periodic reports and updates.

This is a decision which the Caricom Heads of Government could take. Some of the panellists at yesterday’s seminar would be on a shortlist for such a working group, as would be notable absentees like former Jamaican high commissioners to the UK, ambassadors Derick Heaven and Burchell Whiteman.