The British people voted to leave the European Union (EU) in the referendum held on 23rd June 2016, what happens now and what can happen?
The result was a huge shock and will affect the British Economy, the pound lost 9% of its value since thursday’s vote and it can fall even further. With the U.K. exit from the EU, current businesses and future businesses will take a direct hit as ‘ease of business’ will no longer be ‘easy.’ If the EU cordons off the U.K. economically, preventing existing members to carry out business with the U.K. then the economy will take a dive on both the British and the EU side.
Brexit also means uncertainty for migrants. Membership of EU meant that citizens of existing member states of the EU could move between the member states with minimum paperwork. Both Britons and non-British EU nationals had taken advantage of this facility, but now it will pose a problem. Since the U.K. has exited the EU, there is an uncertainty for the existing immigrants. Unless some form of treaty is signed between the U.K. and EU, these immigrants could be facing deportation which will cause widespread unrest among them as they will have to leave everything and go back to their home nations.
The United Kingdom, is called ‘United’ because it is made up of four nations, England, Wales, Scotland and Northern Ireland.
Scotland supported ‘Bremain’ or to remain in the EU, this was so because membership in it provided a kind of counter balance to the English power present in Scotland. Since the exit from the EU, the Scottish people feel betrayed that even though they voted to remain, they are being forced to leave. A motion for a second referendum for ‘Independence of Scotland’ has already been put to the table. If it were to succeed (most likely to) then it will further harm the economy of U.K., Scotland will also petition for its own membership in the EU as it wants to already.
Similarly, in Northern Ireland, the people voted to remain in the EU. An exit means more tensions along the border of the Republic of Ireland and Northern Ireland. Even here, a momentum for a referendum to separate from the U.K. has already begun. If it were to succeed then not only will it harm the economy of the U.K. but it will also strengthen the Republic of Ireland as Northern Ireland will then unify with it.
Under these current circumstances, and speculations about the future, the United Kingdom doesn’t seem to stay ‘United’ for long. The referendum has left the country not only vulnerable, but also leaderless(David Cameron announced his resignation by October). The only thing left to do, is to see how things play and whether the United Kingdom will be able to stand the test of time.