Brexit – a divided nation is leaving the EU

Reading time: 3 minutes

The morning of the 24.06.2016, Brits and fellow Europeans woke to a close but clear result: 51.9% had voted ‘Out!’, to leave the EU despite all the consequences. The results of the UK’s referendum last Thursday have shaken Europe and confronted their leaders and people with an unprecedented situation: an important member of the European Union and key player in the European economy, the United Kingdom, opted to leave the confederation.

The results themselves, raised more questions than they gave answers: First of all, the numbers differed strongly between the different parts of the UK, between cities and rural areas, different age groups and educational backgrounds. Wales and England clearly voted for a Brexit, while the majority of Scots (62% for Bremain) and Northern Irish (55.8% for Bremain) voted to stay in the EU; 59.9% of the Londoners voted to remain in the union, while 59.3% of the people in the West Midlands voted to leave. Most astonishing, however, is the gap between different age groups: 75% of the voters aged 24 and under voted to remain in the EU – contrasted by only 39% of the senior citizens voting  to stay.

But what does all this mean?

That is the big questions, no politician seems to have a clear answers to – the British Premier Cameroon announced his resignation, the pound sterling is at its lowest point since 1985 and the country seems torn. Even though, the actual ‘Brexit’ will not happen for another two years, many wild speculations and predictions about Europe’s future are made, as if the UK were to leave the EU tomorrow. Fact is: so far, it is only speculation. Will British citizens need a visa to enter continental Europe? What does the Brexit mean for international businesses? Is the stock market going to shift from London to another location? What does the Brexit mean for e-commerce giants such as Amazon.uk or Tesco, and how does that affect their competitors? All questions that cannot fully be answered just yet.

Europe, as well as international businesses and individuals are facing the challenge to cope with this unprecedented situation – and while are there no easy answers to these complex questions, the up coming weeks, EU meetings, trade agreements and restrictions will provide more clarity.

We will do our best to keep you informed and up to date on the latest developments  concerning the Brexit and its consequences for your doing business in the United Kingdom.

 

Prezent