On Thursday, June 23rd the people of Britain went to the polls and made a decision that will reshape history for the United Kingdom and the rest of Europe. The referendum vote to leave the European Union, commonly referred to as Brexit, is not one many people predicted would pass. However, a combination of factors––economic, social, and political––building up enough tension and anxiety in the British people, lead a very split electorate to the polls where the referendum vote was their outlet to express their dissatisfaction with the status-quo. Although Britain went to the polls a divided nation, bringing out individuals each with distinct reasons for wanting their country to leave the European Union, it is clear the country must coalesce
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There is no doubt that Britain’s vote to leave has dealt a tremendous blow to the value of British pound, which has dropped as a result of the vote. Businessmen and investors alike will all provide the same explanation for this drop; uncertainty. Uncertainty over whether Britain will maintain its avenue into the single market of the European Union and the duty-free trade and financial services that come as a benefit of being a member will shape the economic discussion going forward. If it fails to maintain some sort of access to the free trade market of the European Union or establish new trade deals, London puts itself at risk of losing some of its most profitable business to places like Paris and Frankfurt who will continue to benefit from the free trade, resulting in a certain drop in the country’s GDP. How the country handles the potential and possibly impending cut in economic growth, which has been predicted by organizations like the International Monetary Fund and the Organization for Economic Cooperation and Development, will be a major testament to its ability to be successful while independent from the European Union. In general terms, the future of Britain’s trade is at risk and Westminster has a lot of vital decisions to make to ensure the country has a prosperous
There is no doubt that Britain’s vote to leave has dealt a tremendous blow to the value of British pound, which has dropped as a result of the vote. Businessmen and investors alike will all provide the same explanation for this drop; uncertainty. Uncertainty over whether Britain will maintain its avenue into the single market of the European Union and the duty-free trade and financial services that come as a benefit of being a member will shape the economic discussion going forward. If it fails to maintain some sort of access to the free trade market of the European Union or establish new trade deals, London puts itself at risk of losing some of its most profitable business to places like Paris and Frankfurt who will continue to benefit from the free trade, resulting in a certain drop in the country’s GDP. How the country handles the potential and possibly impending cut in economic growth, which has been predicted by organizations like the International Monetary Fund and the Organization for Economic Cooperation and Development, will be a major testament to its ability to be successful while independent from the European Union. In general terms, the future of Britain’s trade is at risk and Westminster has a lot of vital decisions to make to ensure the country has a prosperous