Is the world headed into another Great Recession even before that shockwaves of the last one have settled down?
When one of the world’s two major financial centers pulls out of its continental base, there’s good cause for concern.
But that’s just one of the issues raised by Thursday’s vote.
Here’s a roundup of rumbles. . .
British buyers remorse?
Even before the dust settled, Brits were flocking online to sign a petition for a do-over.
From Agence France-Presse:
More than two million people have signed a petition calling for a second referendum, after a shock vote to pull Britain out of the EU, an official website showed Saturday.
The website of the parliamentary petition at one point crashed due to the surge of people adding their names to the call for another nationwide poll following Thursday’s historic vote.
“We the undersigned call upon HM Government to implement a rule that if the remain or leave vote is less than 60 percent based (on) a turnout less than 75 percent there should be another referendum,” says the petition.
The blame game begins
Guess who’s catching the heat?
Hint: He’s already resigned his job in disgrace.
Blame for the failure to convince British voters to remain in the European Union lies at the door of David Cameron, European Commissioner Günther Oettinger told Euronews.
The Commissioner for the Digital Economy and Society told Euronews that the decision by the Prime Minister to “order” the Commission to stay “out of the game” was a mistake.
Asked whether Cameron was to blame, Oettinger responded: “ I think so, yes. What he did is not acceptable.”
The Commissioner insisted that Scotland and Northern Ireland, which both voted overwhelmingly for ‘remain’, could only rejoin the European Union as independent nations. He predicted that Scotland would “probably” split from the rest of the United Kingdom.
And fear runs rampant
Shrinks call it Separation Anxiety Disorder, and it’s an ailment running rampant these days, especially in Berlin.
From Sky News:
Germany fears France, Austria, Finland, the Netherlands and Hungary may follow the UK and leave the EU, a government paper says.
The finance ministry strategy paper expresses concern that the UK’s historic vote may trigger a Brexit domino effect across Europe, according to the German newspaper Die Welt.
It recommends that the EU enters into negotiations aimed at making the UK an “associated partner country” for the remaining 27 nations.
As it stands, the UK’s exit may cause Germany’s contribution to the EU’s budget to rise by 3bn euros (£2.44bn) a year, the paper adds.
And there’s good cause to worry, reports Reuters:
Britain’s vote to leave the European Union fired up populist eurosceptic parties across the continent on Friday, giving fresh voice to their calls to leave the bloc or its euro currency.
Right-wing and anti-immigrant parties in the Netherlands, Denmark, Sweden and France demanded referendums on membership of the union, while Italy’s 5-Star movement said it would pursue its own proposal for a vote on the euro.
Geert Wilders, leader of the Dutch anti-immigrant PVV party, said he would make a Dutch referendum on EU membership a central theme of his campaign to become prime minister in next year’s parliamentary election.
“I congratulate the British people for beating the political elite in both London and Brussels and I think we can do the same,” Wilders told Reuters. “We should have a referendum about a ‘Nexit’ as soon as possible.”
After the jump, Boldness in Bratislava, a British downgrade, trillions in losses, the pain in Spain, grief in Greece, troubles in Tokyo, and a Schadenfreude alert. . . Continue reading