The Brexiters’ weapon of Mass Destruction

Despite the obvious shocks, uncertainties, and frustrations that greeted the UK 20016 EU Referendum, the British have the tenacity and the will power to pool through and come back stronger.

Many Brexiters still thought they were dreaming when the obvious appeared to have hit them on the implications of their votes. However, for the few who are wide awake, below are some of the obvious implications of their action to leave the European Union.

The British Pound (£) has been nose diving since the announcement of the vote which was 52 percent in favour of the Brexiters as against the 48 per cent Stay. The 2016 Summer  holiday will be more expensive for those who are thinking of going outside the United Kingdom.

Another implication is the fall in stocks and shares. Many will have to off -load their stocks and shares now as holding on to them could mean further losses. Those with pensions may see a drastic reduction in their income.

Nicholas Sturgeon, the First Minister of Scotland has left nobody in doubt as to follow the Scotish vote of staying in the EU. This could mean another Referendum on the Scotish Independence if  the UK decides to leave the EU. If allowed, this could mean the end of Great Britain as we all know it.

The Welch who are Brexiters lurking around and waiting in the corridor watching how the Scotland’s event is unfolding before they either ship in or ship out of the United Kingdom.

The level of political confusion is relatively high. Thus creating more uncertainty in the markets, with the prices of motor consumables ready to go up. Inflation will rise making good and services more expensive.  House prices will fall – good for some, bad for others!  Eventually, interest rates will rise, mortgages will rise – so when people start losing their homes they will find a way to blame it on Brexiters who will also blame it on immigration .

Furthermore, the relocation by some triple As companies could lead to massive job losses, possibility of more people to join the dole, queue grow bigger and bigger. The exit  will not be immediate as  negotiation could take as long as two years from the indication that has been given.

Prime Minister David Cameron may not be the only one to step down, things are yet to unfold when the new party leader cum Prime Minister leader will be elected. The Labour Party (the opposition party) is battling its own Tsunami within and nobody is quite sure where the tide could turn. While the Liberal Democrats have long lost their fire-power.

Many multi-national corporations may move their headquarters from the United Kingdom and relocate to friendlier European cities. (If care is not taken, Paris could become another financial hub of the EU). Inflation will rise and with higher interest rates, and higher costs of living because of the free fall of the pounds.

Some foreigners with lots of investments and gold reserves may have to exit them out of the UK and relocate to other friendly cities unless the government comes up to arrest the unpredictable socio-economic situation. Some legal thinkers with sympathy for the Stay-In have begun to throw up some arguments for a Second Referendum, and that the Parliament can still call a vote on the Will of the People thinking that the people are either stupid or drunk to have voted to leave. Whichever way one may view it, there is no doubt that the victory of the Brexiters had left behind a bitter taste in the mouths of both the Victors and Vanquished.

The time to build bridges and not demolish the ones that have already been built (but needed face-lift) because of unfounded fear, myopic tendencies and hate from the nation that is the head of the Commonwealth of nations is over. “As they say, an opportunity once lost, can never be regained.” Put another way; ” You cannot eat your cake and have it.”

However, one positive thing that is incontrovertible is that nobody should doubt or write off the tenacity and resilience of the Brits to come back stronger. The obvious question to ask is: When? For now, things seem to be falling apart and the centre appears not to be holding. We have not heard the final word on the 2016 UK EU Referendum. Only Time will tell.

This is my personal opinion and is offered without any prejudice.

Taiwo Rotimi is a UK based International business advisor.

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