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by kale
3644 days ago
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Cameron steps down in October. A new Prime Minister will then initiate leaving the EU (per Treaty of Lisbon I think). This will take at least two years, possibly longer. The market volatility isn't because they're out of the EU or will be that soon, rather everyone planning on a 2018-2019 exit. |
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Well, not just that. There's also other things, like and the resulting lack of certainty of the near-term future for the government of the UK -- and the leadership of its major parties -- which creates plenty of uncertainty on policy and prospects in a much shorter term than the exit itself, as well as the fact that the exit vote, as I understand, kills the agreement that had been negotiated that provided what was described as a "new settlement" on Britain's special relationship within the EU, which was contingent on a "Remain" result in the referendum: that would have taken effect (and, thus, its being cancelled has effects) sooner than the exit now will take effect.