As the UK breaks free from the over-mighty EU with its perfectionist mindset and establishes free trade regulation, economist worry that Brexit will drag the economy down and might have some effects some of which are:
THE JAPANESE ECONOMY MAY BENEFIT
The Japanese yen has always been considered a safe currency and with the drop in value of the British pound people are more likely to exchange their currency for the Japanese yen, thereby boosting it economy.
SANCTION AGAINST RUSSIA MIGHT BE LIFTED
Until now the European countries has been unable to trade with the Russians, but the effect of Brexit on the British economy may force the European countries to lift the ban against Russia thereby also benefitting Russia
The freedom of buying, selling, importing or exporting anywhere in the world on their own terms would be one of the benefit of the Brexit to the Britons
The people of Scotland has always craved their independence from Great Britain. Due to Brexit Scotland will be taken from the EU against her will. The leader of Scotland has made it clear that she wants another independent referendum in the event of the UK leaving the EU
HSBC MIGHT MOVE TO FRANCE
Due to Brexit The HongKong and Shanghai Banking Co-operation (HSBC) might make good on its threat to relocate which would be a big loss for Britain, as London will no longer be the financial hub of Europe. Seventy thousand jobs could be moved away from the UK which will obviously devastate the British economy.
THE COLLAPSE OF THE LABOUR PARTY
Following the effect of Brexit, almost half of the labor shadow cabinet has already resigned, which almost puts the party on the brink of a civil war. The labor party might be about to collapse
THE EU MIGHT COLLAPSE
The UK is the second largest economy in the EU, this makes it a big loss for the EU and what will further not help their chances of survival is the danger of other states following suit after Brexit.
COLLAPSE OF THE BRITISH ECONOMY
The pound has sharply dropped in value and British banks has lost lot of their worth. With a change this big it could just lead to the collapse of the British economy
THE BRITISH ECONOMY MIGHT BECOME STRONGER
In the long run the British economy might just grow stronger, with the Britons believing that the EU membership was slowing down her economy with all its bureaucracies, they believe they could still turn out well without the EU, just like Norway and Switzerland.
Written by : Western boy