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What happens now that Britain has voted for Brexit

Britain has voted for Brexit. What happens now? Nothing immediate, is the answer for EU nationals living in Britain and Britons living elsewhere in the EU, as well as for businesses on both sides of the Channel. It will all depend on negotiations that could take years—and no one is sure quite how many years, because the only precedent is Greenland, with a population today of around 50,000, which voted to leave in 1982. The first aim of David Cameron, the prime minister, will be to calm the markets. In Asia they have already responded to the news. The pound plunged by 9% against the dollar and as much as 13% against the yen, traditionally a bolthole for anxious investors. Japan’s main stockmarket tumbled by almost 8%. London’s stockmarket opens at 8am, and the FTSE 100 is likely to dive. Some experts warn that sterling could fall by as much as 20% overall. The chancellor of the exchequer, George Osborne, must now decide whether to issue an emergency “Brexit budget” as he controversially promised before the poll.

EUR/USD M5: 465 pips price movement by Brexit Referendum Final Results Expectation



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