antiestablishment vote voting against something not for something What is the

Antiestablishment vote voting against something not

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antiestablishment vote (voting against something not for something) “What is the EU” – top Google search hours after the vote Immediate effects: o Pound plunged in value to a 33-year low o Stock markets are taking hits in Great Britain and in the world o Surfacing of racist material, hate speech even violent acts o Divided Britain, half the population wants something and the other half doesn’t (tension) o Prime Minister David Cameron quit: can’t lead the country, he wanted to stay (out by September 2 nd ) – invoke Article 50: right to step out o No more EU-3 (France, Germany, UK): most powerful economically and politically – new EU-3 (France, Germany, Italy) A lot more chaos and pain coming (not easy nor nice) Hard to see Britain’s economy not getting negatively affected EU free trade: o 40% exports go to EU countries o 60% imports come from EU countries o More expensive, no tariffs, more taxes Financial sector will be affected: financial institutions moving offices from London o
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  • Fall '08
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