Friday, June 24, 2016

Britain Exits

Via the Guardian:

The British people have voted to leave the European Union after a historic referendum in which they rejected the advice of the main Westminster party leaders and instead took a plunge into the political unknown.

The decision in favour of Brexit, following a bitterly close electoral race, represents the biggest shock to the political establishment in Britain and across Europe for decades, and will threaten the leaderships of both the prime minister, David Cameron, and the Labour leader, Jeremy Corbyn.

The value of the pound swung wildly on currency markets as initial confidence among investors expecting a remain vote was dented by some of the early referendum results, triggering falls of close to 10% and its biggest one-day fall ever. Jeremy Cook, chief economist and head of currency strategy at WorldFirst, said: “Sterling has collapsed … It can go a lot further as well.”

By 4am, a series of key results signposted a likely leave victory. After a lower-than-expected margin of victory for the remain campaign in Newcastle, where it won the backing of 54% of voters, there was a jolt after midnight when leave captured Sunderland with 61.3% of the vote in a city that has traditionally been a Labour stronghold.

Stock markets reacted negatively, with some off as much as 10%, and British Prime Minister David Cameron, who called for the vote, announced that he will step down by October.

Quoting a friend who has lived in Britain since the 1970’s:

I’ve kept out of this until now, as I am not eligible to vote in the UK, but I’ve watched it all unfold with great interest, and I’m very unhappy to see this result. The UK has now given power to the far right. Petty little Fascist pricks like Nigel Farage and others like him will now be calling the shots. I don’t see good things coming of this, socially or economically. Too late to change your minds now. A very sad day in history.

As one BBC news reader said, “Yeah, well, there you have it.”

One bark on “Britain Exits

  1. And Trump is trumpeting this as a great thing. Take note, America….this kind of hateful, racist, isolationist shit is how he thinks to make America “great”?
    Greatly fucked over maybe…

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