I add, the initial cliff-edge fall-off in the Pound [US$ 1.50 --> 1.44] as Sunderland gave the first indication Brexit would likely win:
Sky News, live:
Guardian graphic breakdown of the vote:
Key initial impacts:
- UK Prime Minister, David Cameron has resigned, staying on as a three-month caretaker
- Former Mayor of London Boris Johnson (leader of the Brexit campaign) is tipped a likely successor
- A 2 - 4 year estimated Lisbon Article 50 leave process is likely to begin under Cameron's successor.
- The Governor of the Bank of England has promised liquidity in Pounds and key foreign currencies to ease pressure on UK markets and the currency.
- Key stocks, starting with leading banks are off by up to 1/5.
- FTSE initially has dived 6.95% though as of this writing it has clawed its way back above the 6,000 threshold,
- the GBP dived 5.77% against the Euro (which is itself falling), and up to 8.46% against the US$, hitting as low as $1.36 down from $1.50 on the eve of the vote. The Yen is rising.
- Gold is surging, oil is falling.
- The Scots have long since warned that a Brexit would re-open the independence question, which would have major consequences for the UK's geostrategic stance in the world, and knock-on effects for the global economy and stability.
- And much more . . .
We must also ponder civilisation level trends, for which the (generic) seven mountains of influence approach may be helpful:
One obvious implication is this is a sign of rising nationalism in the midst of an unsettling and utterly atypical US Election year that just saw an assassination attempt -- directly parallel to the murder of a UK Member of Parliament. (If anything, that would tend to favour Mr Trump; providing, he does in fact become the Republican nominee.)
As touching origins debates and linked concerns relevant to Intelligent Design and to the historic Judaeo-Christian heritage of our civilisation, the key issue will be the power moves made during a time of uncertainties and instabilities.
For, we deal with those of the Marxian type view that a "crisis" must not go to "waste."
Here in Montserrat and in the wider Caribbean, we just took a direct, hard hit as both the UK and the European Union are key development partners.
|A Turtle, head and limbs in the shell . . .|
Vigilance, is eternally the price of liberty. END