So here we are – Friday 24th June 2016 – a remarkable day in UK history – the decision has been made. We are OUT of the European Union.
At first glance, the result looks close 48% in, 52% out, but in fact, the win side amounted to 1.3 million more votes. There was a 72% turnout of people eligible to vote, which amounted to 33.6 million people.
This is one the largest ever voter turnouts in British history, which goes to show that this has been an incredibly important decision for the British people to be involved in.
As far as the next steps are concerned – who knows? The Prime Minister, David Cameron has already resigned, albeit with a 3 month notice period… “to help stabilize things”, as he put it. Many people are also calling for the Chancellor, George Osborne, to resign due to his feelings about Brexit. There is much talk this morning of who will succeed Cameron, the ‘favorite’ option being Boris Johnson who led the Brexit campaign.
It has been an interesting morning hearing from both sides of the debate…. The remain side are all doom and gloom, basically predicting the end of our civilization as we know it. They seem to have swallowed every scare-mongering story that David Cameron and his cronies concocted, without once pausing to think about how or why any of those things would actually happen!
The head of the German business association pointed out yesterday, that it would be crazy for businesses in Germany not to continue to trade with the UK, if they left the EU. This is more plausible to me, than a mis-guided fear that EU countries will cease trading with the UK. Why would they do that? The UK imports more from the EU than the USA! It simply makes no economic sense. The only reason you would be left with, is that they will cease trading because they are annoyed with us for leaving….. REALLY?! I don’t think so.
On the other side, we have seen people delighted to be starting a new future, with the UK ‘in charge of its own destiny’ and ‘leading the world again’. There was a huge vote to leave from towns and cities in the North of England, and also from the so-called ‘older generation’. Reasons for this include concerns over uncontrolled immigration and its impact on public services, but other reasons are simply linked to independence, and the peoples’ desire to have a say in how their country is governed.
Time will tell, and the world will watch, whether there is an adverse impact on the economy, or on life in general for people in the UK. I think the financial markets will stabilize quickly, and that the impact will ultimately be a very positive one for the future of the UK.