Brexit - Consequences of an Action
The consequences of the United Kingdom's vote to leave the European Union(UK) are still being felt as global financial markets remain volatile with the British Pound trading lower against other currencies.
Yet, these initial consequences that have seen billions of dollars erased from personal wealth in less than a week because of the United Kingdom(UK) voting to leave the EU last week, might just be the beginning of an unknown financial health for the UK.
The proponents and the leaders behind the UK's push to exit the EU appear hopeless and unprepared to deal with the cascade of consequences set in motion from what they advocated and gained by pulling the UK out of the EU. Hence, the UK has entered into a period of uncertainty that if left unchecked could spiral into greater economic and financial losses to Brits and to the globe.
That the exit process from the EU could take between two and ten years, according to some observers, might not be enough to provide needed stabilization to financial markets. And the disclosure that the EU would not entertain any informal negotiations on Brexit until the UK has invoked Article 50 to formally withdraw from the union, does little to ease concerns.
Therefore, that the majority on the UK has voted to leave the EU on whatever information and for whatever reasons they thought, the UK must now suffer all consequences of the behemoth action taken June 23, 2016.