The UK has voted to leave the European Union but even before all the votes were counted volatility made its way across the world markets which were turned upside down by a surprise Brexit result and the resignation of UK Prime Minister David Cameron.
While there is looming uncertainty around how this will affect the United Kingdom and world and us here in Australia from an economic perspective, it might be just the tip of the iceberg in terms of long-run consequences according to Visual Capitalist who prepared the following insightful infographic.
They suggest the events of the last few days opens the door for future events that would be previously unfathomable by popular opinion, and it gives vital ammunition to groups that are seeking their own referendums for independence.
While England and Wales voted to “Leave” with 53.4% and 52.5% respectively, Scotland and Northern Ireland were both firmly in “Remain” territory.
Scotland, which previously held its own independence referendum in 2014, voted overwhelmingly to have the UK remain in the EU with a 62% vote.
Northern Ireland had a similar sentiment with 55.8% voting “Remain”.
Scotland’s First Minister, Nicola Sturgeon, feels Scotland was taken out of the EU against its own will, and that Scottish independence is worth revisiting.
However, it is not just people on the fringe that are interested in revisiting EU membership.
Even before the Brexit result, a poll by Ipsos Mori showed that the majority of people in France and Italy want to at least have a referendum on leaving and over 40% of Swedes, Poles, and Belgians are in the same boat.:
Now that Brexit is a certainty it will be interesting to see what will be the next domino to fall?