viernes, 24 de junio de 2016

What happends now? After the Brexit...

It’s official — U.K. voted to leave the European Union. There’s a sense of shock after opinion polls suggested voters would reject a Brexit.

Main Consecuences:

- The stock markets sold off sharply at the open, with British bank shares taking a particular hit.

- The pound is on a downward trajectory.

- British Prime Minister David Cameron announced his resignation this Friday morning, saying the negotiations for withdrawal from the EU should be carried out by a new leader (his replacement will be selected by October).

But there is more:

Scots vote to remain, so now Scotland would be taken out of the EU "against its will" and this could be the trigger for another independence vote.The same thing with North Ireland.

As the Article 50 two-year deadline approaches after the vote to leave. But they also reject the two-year timetable for exit, saying the government should aim to complete negotiations on a new EU-UK trade deal by 2020.

So the UK trading with the EU would involve exporters being hit by import taxes, or tariffs most likely.

To sum it up

“This a complete disaster but this was expected. Now we have political uncertainty, economic uncertainty, consumer confidence may crash even further and the property market may be hit even harder,” said Naeem Aslam, Chief market analyst at ThinkForex.