Britain has left the European Union. This action by the British people will have both good and bad consequences. Not only for the United Kingdom but also for the world.
Immediately we have a decline in the value of the British Pound. It’s currency will recover of course. It’s just a matter of time. A side note of importance here is that Britain did keep it’s native currency instead of switching to the Euro. And the Euro may also see a decline in value without Britain as a member nation.
Also on Friday we saw a drop in the markets across the globe. But these drops were all less than a 1000 points, most less than 500 when the Brexit results were made. The markets will also recover. They are only adapting to the new dynamic.
Britain will have to renegotiate it’s trade deals with other nations and with the EU. And those other nations and the EU will also have to renegotiate their’s as well. These aren’t end of the world events. Trade deals are renegotiated all the time.
Many of these issues aren’t really bad things at all. They are just different from what was and are time consuming. Even the complete exit from the EU will not happen overnight. It may in fact take a year or so to fully complete. Some things will be faster than others.
On the British home front. They still have the Pound. They don’t have to go through the trouble of recreating a national currency. This is a strong advantage for rebuilding their economy and separating it from the EU. Also leaving the EU gives Britain the ability and authority to control it’s boarders. There are some good things about the EU and there are bad ones as well. Britain can now keep the good and discard the bad.
For the EU though this could be the beginning of the end. Britain is simply the first member nation to withdraw. Other nations are likely to follow suit. To retake control of their own destiny. If other member nations do leave the EU is finished in it’s present form.
There is a just a lot of information, misinformation. Doomsayers and those who think this isn’t a bad thing at all. The full truth lies in between it all.