52 per cent of vote to lead UK out of the EU; turn out over 70 per cent; Cameron to step down; Bank of England to back the pound.
Britain takes opportunity to ‘shove it’ back to De Gaulle. After France shafted Britain, twice, and prevented it from joining the common market and EU (twice), thus hobbling the early forming pre-EU models, Britain got its own back and stuffed De Gaulle. Markets and the pound dives. Euro strains to grow significantly.
What’s might happen next?
– stress as UK and EU negotiate terms
– Bank of England reserves drained short term but quickly recover. Initially struggling, the pound recovers and powers ahead of the Euro. Economic conditions of the U.K. seen to be stronger outside the Euro.
– Other counties in EU seek their own renegotiated settlement, leveraging referenda as negating tactic
– New EU II framework based on free trade and joint security to be proposed by UK and Nordics
– Southern periphery splits from EU; northern counties form EU II