It’s already started: the financial earthquake and the anger from Remain voters who demand a second referendum

 

The Lead Pound

Something that was always going to be on the minds of some during the referendum was the effect the result would have on the pound sterling and its exchange rate. It was predicted that if Remain won, the pound would grow stronger and if Leave won, it would crash. Leave has won the referendum and the pound has, as predicted, plummeted to the ground. The FTSE 100 has dropped by more than seven per cent losing 100 billion pounds of value in the process, the worst drop in its history.

To add insult to injury, an apt phrase in these circumstances, the pound sterling has fared poorly against the dollar. collapsing to its lowest level against the US currency since 1985.

Second-chance referendum?

In response to today’s result that has both shocked and disheartened the nation, a petition has been set up on the government’s website to fight the injustice of the result, calling for a second referendum.

It simply states: ‘We the undersigned call upon HM Government to implement a rule that if the remain or leave vote is less than 60% based on a turnout of less than 75% there should be another referendum’.

The aim is clear, the 48 per cent of people in the United Kingdom, significantly made up of 18- to 24-year-olds, are displeased with a referendum result that will shape their lives in the years to come.

The petition has traction, in just under two hours it has reached over 75,000 signatures, just 25,000 short of the 100,000 needed for it to be discussed in Parliament. The EU Referendum then, could be about to take one more twist.

Out for six

Everyone knew that David Cameron’s political career rested on the result of this referendum. If Remain succeeded, his political future as Prime Minister would have been secure and his party’s dignity intact. Everyone knew also that if Remain lost, his future as Prime Minister would be significantly shortened. No one knew how short it would be however, until today. What we know now is that by October Britain will have a new Prime Minister, and that he or she will be elected by the 150,000 Conservative Party members as one of two candidates. In a resignation speech, the end of which left him choked up, he remarked that he would do what he could over the next few months to help Britain, but conceded that he was not the right captain to command this ship into a new era outside of the EU.

Looked upon as one of the more progressive Prime Ministers of recent times, particularly as regards gay marriage, David Cameron will be remembered also as the PM who instigated his own undoing.