Bill Fox, director of the University of Tennessee Center for Business and Economic Research, said that because of the relatively small size of the United Kingdom economy compared to the global economy, the immediate economic impact to Tennessee of Britain leaving the European Union will likely be small.
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On Friday, while announcing his resignation after the vote, Mr. Cameron said the people’s decision should be respected. As Britain’s relationship with the European Union changes, “one thing that will not change, is the special relationship that exists between our two nations”.
British Prime Minister David Cameron on Tuesday and Wednesday will go before the European Council summit, where he’s set to trigger Article 50.
The reaction follows a script predicted by many experts on Russian Federation, who said that a weakened Europe would be good for the Kremlin. After all, Nigel Farage, the head of the United Kingdom Independence Party (UKIP) and the most vocal member of the Leave campaign, admitted hours after polls closed this morning-in a live interview-that one of UKIP’s central platforms in favor of exiting the European Union was a total lie.
“Analysts say voters” stunning decision to quit the European Union meant Cameron lost his mandate.
Obama indicated he would have more comment after he had the chance to speak with Cameron. Moreover, the European Union would lose a strong ally in the United Kingdom for European Union security actions favored by the USA, such as sanctions on Russian Federation for its incursions into Ukraine. A survey in March of American companies showed that 95% favored Britain remaining in the European Union and President Obama urged the same.
The vote, after a bitter campaign, split the country along several faultlines: old vs young; England and Wales vs Scotland and Northern Ireland; and people in northern England suffering economic hardship vs richer city dwellers in the south. “You see it with Europe, all over Europe”, Trump, 70, said in Turnberry, Scotland where he reopened a golf course.
Earlier Friday, Trump likened his candidacy to the referendum vote and said should he win the presidency in November, he would work to strengthen ties between the US and an independent Britain.
“The will of the British people is an instruction that must be delivered”, he declared, in an emotional address. Americans will have a chance to vote for trade, immigration and foreign policies that put our citizens first. The Government would continue to focus on this growth, he said.
– Polish President Andrzej Duda, speaking in Krakow.
“This is an unprecedented situation but we are united in our response”, they said in a joint statement issued shortly after midday.
The vote also revealed a polarized Britain, with deep political divisions that are rooted in disparate values and economic positions, a phenomenon that bears some resemblance to the electoral climate in the United States, said Hall.
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“Leave’s victory has delivered one of the biggest market shocks of all time”, said Joe Rundle, head of trading at ETX Capital.
