Saturday, 25 June 2016

UNITED KINGDOM VOTES TO LEAVE EUROPEAN BOND

UK votes to leave European Union.
Out of a population of 46.8 million, 33.5 million votes were cast and the tallies revealed that about 48.11% voted to stay while the majority 51.89% voted to leave. Despite the British exit campaign, it's 2 member states namely Ireland and Scotland are against it.
Eddie Sayers, Editor in Chief YouGov speculates that Nordic countries such as Norway, Sweden, will opt to leave as a result of the UK exit, while Germany and France will stay, being the founders of EU.
Facts show that this divorce process will be easier since:
UK has a strong economy as a result of being one of the most open economies in the world.
The British pound is not dependent on Euros like other markets.
With this divorce process however, the British pound has dropped from 1.5 to 1.36 against the dollar. This is a drop by 10.37% , marking the lowest drop in 35years.

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