Yesterday as I watched the UK vote to leave the EU, I was furious. I immediately took to Facebook to write a rare, slightly offensive post where I insulted 52% of the British population and talked about the ramifications of the vote.
Now, I’m a little calmer, and I’m less likely to say that the Brexit is going to destroy our world economy. However, I still think that there are some serious consequences the Brexit camp didn’t think of (or didn’t care about) when they voted.
First, let’s deal with the pound. As soon as people realized that Britain would be leaving the EU, the pound dropped substantially, hitting a 30-year low. Now, in a few days, that will likely stabilize a little, but I doubt that the pound will be as strong for a while.
Now on to tariffs. Now that the UK is planning on leaving the EU, there won’t be the tariff-free trade they were used to. That means that prices in Great Britain will go up, while at the same time other countries will be less likely to buy British products.
And since the pound is dropping and products are becoming more expensive, Brits are going to be less likely to invest in foreign markets because they’ll have less money. So that will hurt foreign economies.
Not to mention that London will probably no longer be the financial center of Europe (it will probably move to Berlin or another comparable city in the EU).
But let’s forget the economy for a minute, and focus on immigration. Immigration was at the forefront of the Brexit debate. There was an element of bigotry, and of not wanting to allow Eastern Europeans (and foreigners in general) in the country that led to the Brexit. So what happens now? Well, the UK doesn’t have to resettle a whole bunch of refugees, which is a major win for bigots everywhere. On the other hand, France no longer has any requirement whatsoever to keep people in Calais, so we may see a migrant camp popping up in Dover.
And while we’re talking about migrants and refugees, what’s going to happen to them now? Well, now that Britain’s out, they’re going to be shoved to the back burner while Britain and the EU work out the terms of the UK’s departure.
And you know what else is going to be shoved to the back burner? The environment. Climate change is a global emergency, and the leaders of countries should be uniting to solve it, but with the Brexit, European leaders are instead going to be involved in negotiating the departure and controlling the aftermath.
And as for unification, the United Kingdom may not be united for long as both Scotland and Northern Ireland are once again considering a referendum to leave the UK.
But for now, Nigel Farage can continue to declare June 23rd Britain’s Independence Day. Cheers to the idiots who voted out.