Goodbye EU. Hello... World? Instability? Recession?

By: Toby Gould, Student Voices editor


The odds were against a Leave vote, but tireless campaigning from Boris Johnson, Michael Gove, Priti Patel and, of course, Nigel Farage appears to have paid off. David Cameron will now have to invoke article 50 and start the long and, very difficult, process of the UK leaving the European Union. That is if David Cameron lasts long enough as Prime Minister to start it.

The leave vote poses a huge number of challenges and questions.  Right now, the biggest of these is probably will Cameron be able to stay in the EU? As Prime Minister he lead the Remain campaign.  He used the government machine to try and keep us voting Remain and dedicated weeks to campaign tirelessly; all in vain. Surely we must take the public's lack of confidence in his plea for us to remain in the EU as a lack of confidence in his ability to lead, and do what is best for, the country? 

Despite promising not to launch a coup after the referendum, Boris Johnson and Michael Gove still must have their eyes set on Cameron's job. Will he resign on his own accord? Will he be forced to resign? Or will he manage to stay on as Prime Minister? We'll just have to wait and see.

That's one thing we don't know about what the coming weeks and months will bring. Another is the economy.  George Osborne warned (or threatened, as some would say) of a recession in the case of a leave vote. Are we going to be lunged into a recession? Will he actually attempt another 'emergency' budget, with the promises of tax rises and public spending cuts? We just don't know.

The markets and the pound have already been shaken.  The worth of the pound fell to its lowest level since 1985, and the FTSE 100 is expected to open down 8 points. 

Throughout the campaigning we were constantly warned about how so many jobs depend on the EU. Is unemployment set to rise?  If yes, when? It won't be for two years until we are formally out of the EU; will we feel the effects of our referendum decision immediately or will they be delayed?

There are so many questions that are likely to go unanswered for some time. I haven't even mentioned the negotiations that are going to have to take place as we leave - particularly the issue of who is going to lead these negotiations. Then we have to consider the future of the EU itself.  Will it go on without us?

The only thing that is certain is that we have months, possibly years, of financial and political uncertainty ahead.
Goodbye EU. Hello... World? Instability? Recession? Goodbye EU. Hello... World? Instability? Recession? Reviewed by Student Voices on 04:48 Rating: 5

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