Last week Britain voted to leave the European Union. The result was both shocking and historic, and lots of other countries will be affected by the decision.
But what does it mean for people who don’t live in Britain? The result has the potential to affect the economy of other countries – it may even affect the race for president in America.
1. It may cause other counties to leave the EU
Britain leaving Europe could cause a domino effect, with other countries also calling for European Union referendums. For instance, Greece has previously spoken about leaving the EU. There are also right-wing politicians in France and the Netherlands who have praised Britain for leaving the EU, and have said that they wish their countries would do the same.
It will also affect the United Kingdom; many people in Scotland are already calling for a UK referendum, as they wish to leave the UK and stay in the EU. Leaders in Northern Ireland have also commented that they would like the country to reunite with Ireland.
2. It will be cheaper to vacation in Britain
If you were thinking about taking a trip to see Buckingham Palace (and you don’t live in the EU), now is the time. The value of the pound has fallen to its lowest value in 30 years, so a vacation in the UK just got a lot cheaper! However, it will be more of a hassle for EU citizens, as they will now need a visa to visit the country.
The Brits will be happy to see you too, as they are expecting less tourism after leaving the EU!
3. It will affect the economy of other countries
The UK is the world’s fifth largest economy, so if it suffers, other countries are likely to suffer too. For example, America is known for having a special relationship with the UK, and after the pound dropped, Wall Street also fell by 500 points.
It will also affect international companies who have offices in the UK, such as Rolls Royce, as they may need to move their staff to Germany and France so they don’t disrupt their EU business.
4. It may affect the race for President in America
The effects of Britain leaving the European Union are far-reaching; they may even alter the upcoming election in America. Donald Trump has succeeded as a candidate by focusing on illegal immigration, and these fears were represented by some of the Brits who voted to leave the EU. It is possible that Trump will use Brexit as an example of a country standing up to immigration, helping to further his campaign.
What do you think about Britain leaving the EU? Let us know with a comment!