The City which is the main driver of the economy in Britain might be at risk, and many companies have contingency plans to leave the UK, which might have started already. Paris, Dublin, Frankfurt, Zurich seem to be cities mentioned already, and I assume more will come with great offerings. Britain had an excellent position being part of Europe, controlling the pound and attracting the best skilled people to the City from Europe.
Now the situation is different, the collapsing of the pound to its lowest since 1985 has signalled what is going to happen, these global companies are not going to be able to trust this country to make any sound decisions. The Bank of England has been forced to make an statement that it will print (now or in the future) £250 billions to save Britain's City
The Mayor of London also made afterwards an announcement to calm the work forces of London:
"I want to send a particular message to the almost one million Europeans living in London, who make a huge contribution to our city - working hard, paying taxes and contributing to our civic and cultural life. You are welcome here. We value the enormous contribution you make to our city and that will not change as a result of this referendum."
Scotland and Northern Ireland might leave the UK
The issue is not just the City of course, Scotland and Northern Ireland are considering to have a Referendum to leave the United Kingdom. I fully understand their decision as both have the opportunity to be or become the new Financial hub. It might be a race now on build infrastructure to achieve this, as Heathrow promptly announced yesterday the benefits they provide with its new Terminal 5.
Europe wants Britain's quick exit
Anybody expecting that Europe wants to linger the transition might be for a big shock. Europe as a whole don't want this to be triumphal exit. If a country can simply exit Europe and impose its own rules and trading, it will be the collapse of Europe, it cannot allow this to happen. The problem is not just being selfish, the problem is that many nationalist movements have started now, and the separation of Europe can only lead to one thing, as history has told us, war.
Populism and Lies
A country brought down to its knees for what? Populism and lies. Over the past years there has been a campaign to scare people of the immigration and the benefits what Europe provides. Sadly the government has allowed this and has not provided a good counter argument which non educated people will understand. A good example is that the campaign to leave promised £350 millions a week to the NHS, but just after the result it was quickly said to be incorrect.
Well at least we have not lost our sense of humour
Edit: The BBC, rather late IMHO, explains in simple words the impact on the city http://www.bbc.co.uk/news/business-36625894?SThisFB
News about HSBC moving people to Paris: http://www.bbc.co.uk/news/business-36629745
And more financial institutions http://www.ft.com/cms/s/0/a3a92744-3a52-11e6-9a05-82a9b15a8ee7.html#axzz4Cf2i7xyO
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