One of the mysteries of the English language finally explained.
Britain, perceived as a stylish and fashionable place, especially (in the late 1990s) as represented by the international success of and interest in contemporary British art, popular music, film, and fashion. Also: a (supposed) cultural movement associated with this perception. Compare Brit-.
1960s. From cool + Britannia, punningly after Rule Britannia.
cool Britannia/ˌkuːl brɪˈtanjə/
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