BREXIT Referendum

Hector Martinez, our General Director has been in the UK this week and sends us this news update “on the ground”.

Some of the more interesting comments heard include:  

British Prime Minister David Cameron – who led the failed campaign for Britain to remain in the EU – announced his resignation after the shock result today:

“I do not think it would be right for me to try to be the captain that steers our country to its next destination,” he told the world’s media outside his Downing Street residence, saying a new leader should be in place by October."

Key Brexit campaigner Nigel Farage, head of the anti-EU UK Independence Party, cut a triumphant figure.

“The eurosceptic genie is out of the bottle and it will now not be put back,” he said.”EU’s finished, EU’s dead.”

Australian miner in Mexico commenting on the positive impact instability and uncertainty have on commodity prices. 

“The Pom`s are out, it`s good for the gold price”


Common themes from all articles:


- Impact of globalisation and perception of those how feel marginalised (themes being exploited by both Trump and Sanders in the US)
- Multilateral organisations (IMF, WTO, EU etc) are seen as heavy handed and elitist
- Concern for security, instability, rising nationalism and extremism
- No immediate impact other than devaluation of pound and instability in markets….

 

Main Articles 


After scanning various news sources we’ve highlighted a range of sources which give a range of perspectives on the impact Brexit on ANZMEX countries and the world as a whole.

Australia
Prior to the vote, the Guardian summarised the consequences to Australia if Britain left the EU
https://www.theguardian.com/australia-news/2016/jun/23/brexit-and-australia-what-would-be-the-consequences-if-britain-left-the-

Malcolm Turnbull talks about the impact of the Brexit vote on Australia.
www.smh.com.au/federal-politics/political-news/brexit-australia-will-be-hit-as-world-will-become-more-fragmented-less-safe-say-experts-20160624-gpr9jb.html

New Zealand
www.stuff.co.nz/national/politics/opinion/81448284/Does-Brexit-wreck-it-for-New-Zealand

Mexico
Mexico announces budget cuts in wake of Brexit
www.wsj.com/articles/brexit-spurs-mexican-government-to-make-more-budget-cuts-1466780063

Mexican peso weakens on news of Brexit
www.reuters.com/article/mexico-peso-idUSL1N19G0Q8

Mexican official Statement
https://embamex2.sre.gob.mx/reinounido/index.php/es/masavisos/1106 

Why did they vote to leave?
An interesting article by George Friedman on why the British voted to leave the EU
https://geopoliticalfutures.com/britains-vote-to-leave/

Impact on British Expatriates
ANZMEX member AngloInfo has a good blog on the impact of Brexit for British Expatriates 
blogs.angloinfo.com/angloinfo-world-expat-life/2016/06/24/british-expats-what-next/