Brexit: the direct aftermath
By the close of play on Friday, 24 June, in the wake of the announcement that the British people had voted to leave the European Union, $2 trillion had been wiped off the world economy. Early Monday, the British Chancellor of the Exchequer, in anticipation of another dark day on the markets, went before the press in an effort to bring calm and arrest the plunge of both the Pound and the Stock Exchange. Initially, the markets were calmer on opening than had been expected, but by the close of play, the FTSE 100 had fallen by another 156 points, the Pound had reached an historic 31 year low and was trading at 1.2 Euros, and the UK saw its credit rating downgraded two notches from AAA to AA. This economic tsunami has sent reverberations throughout the world economy, with Asian economic ministers standing ready to intervene to reduce the impact on their domestic markets, and the Dow Jones stock exchange in the USA also losing 273 points.
Amid all this economic chaos, it is hard to see any opportunity at all. But what good could come of Brexit for the rest of Europe, companies, politicians and public affairs professionals?
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