Friday, 24 June 2016

Britain : Let's talk about the Exit



I know, I know! – this is mainly a fashion-blog so I shouldn't abuse it to discuss economics and geopolitics, but in light of the recent events and my personal stance on them, simply ignoring them just didn't feel like the right thing to do...so let's talk about it!

As most of you might have heard by now the UK voted to LEAVE in the Brexit this Thursday. Now obviously for all non-UK residents the results of this referendum aren't of such crucial importance but as a person who spent 2 years living and studying in the UK, I personally did follow the entire campaign and, just like the Britains, felt especially tense before the results were published this morning. Even if the extent may not be all that severe, there's no doubt that the impact of this will be global – while the peace and order the EU era has achieved in Europe have been broadly good on an international spectrum, it's only a logical conclusion that any turmoil here is a cause for global worry.


Now let's take a look at the voting stats:



Why I don't think letting elderly people decide about the future of a country is a good idea:

As the voting stats show the older the person, the more likely they were to vote for Leave. I think one reason for that is because older people in general, tend to be more conservative and patriotic so they are all for independence of their country. However, this can be a massive drawback for their children who will actually have to deal with the consequences of their decision in the future. As you can see, 64% of young britains voted to remain a member of the EU. Maybe not only because they can see the economic and political benefits but also because their careers might severely depend on this. 
I might sound incredibly ignorant here, but I feel like anyone over 65 years of age shouldn't be given a say in decisions of such an impact on the future of a country, a future that they themselves won't have to deal with anymore but a future whose burdens their children will have to carry. 


But what exactly are the consequences of this result?

Consequences for the UK:


  • For the UK, the first backlash will have been the significant drop in the pound and their stock market. In fact that is an understatement; the pound is at a century low and still plummeting. 
  • Another piece of news was that David Cammeron decided to resign from his job by October '16. By doing so, he might give way for the right-winged Boris Johnson. 
  • For their import-export-businesses with EU countries, the UK might have to start paying tax, in that case, there will be a significant loss in revenue.
  • Many businesses relying on the EU will have to shut down meaning that people working for those companies will lose their jobs. 
  • London will lose it's importance as a financial centre.  
  • How about tourism? The EU membership made it possible for EU citizens to visit and reside in the UK without having to bring a passport each time they travelled - a simple ID card was enough. That might no longer be possible so there may be a not insignificant drop in the profit made from tourism.


If you google it now, it already dropped down to $1.37

Consequences for the EU:


  • With the UK, the EU obviously lost one of it's most important members and contributors so there's going to be an estimated drop of 3% in the EU economy.  
  • As London is no longer an option, the EU will have to find a new centre point for their financial trades. 
  • Travelling to the UK will become more complicated for EU residence and most likely require more paperwork in the future. 
  • After the UK left, there may be more overall scepticism of the European Union among the other member countries and more might leave in the future. 

By looking at the short term consequences, the part that lost most due to the Brexit is certainly Britain. If they, however, will eventually recover from the great drop in their economy and the geopolitical turmoil the referendum caused is a question of time but I sincerely hope that they will and if it doesn't happen to work out for their favour in the long run either, I hope that this decision will at least have been a lesson and determining for their future decisions.  



I hope I could break the significance of this event down for you a little in this post.
I'm curious to hear your input on the matter as well! 

What do you think about the Brexit come true?

xx Micky 

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20 comments

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  2. Times of uncertainty are lying ahead but I hope that it will work out for the best!

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  3. Lovely coverage, this was such an interesting read for me! I honestly don't know where I stand, there are just so many pros and cons to each side for me, but I believe we can still work hard and make something good of this result and focus on our priorities :D it seemed really sucky to me too that older people were voting over us but 83% of elderly people chose to vote compared to only 38% of 18-25 year olds and only half of 25-35 year olds, so for young people to have a bigger say, we should blame our non voting peers :D awww thank you for the comment, your blog is so lovely too! xx

    elizabeth ♡ ”Ice Cream” whispers Clara | (lets follow each other on bloglovin or instagram)

    ReplyDelete
    Replies
    1. That not many younger people have voted is really a shame but now the decision has been made I don't think there's a way to change the route again - even though many Britains apparently wanna row back now.. Anyways,I hope the best & that it'll work out especially for the british youth nevertheless!

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  4. I have to admit, I haven't been really following this, but I'm glad you covered it, with less "stuffy" language than most newspapers and such. I agree that while older citizens should have a say, it does seem rather unfair when there are such large differences between age groups!

    Angelina Is | Bloglovin'

    ReplyDelete
    Replies
    1. Thank you for taking the time to read this post!

      Delete
  5. This is such a good piece...the whole Brexit thing has gotten us so ticked off! Just frustrating how young people are the future yet they're unable to vote, meaning future opportunities become stripped away or even uncertain :*
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    ReplyDelete
    Replies
    1. Absolutely agreed! & I certainly will :)

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  6. I was really surprised that the brexit passed. I think though that there will most likely be a free trade agreement put in place with EU, and possibly some sort of short-term travel arrangement as well. But it's still no doubt a serious matter, given how much uncertainty there already is. :/

    ReplyDelete
    Replies
    1. I agree, thanks for taking the time to read this post!

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  7. I was actually really expecting Bremain, but nope :| To be honest the younger people just should've gone voting too, but I suppose they all expected Bremain too XD I find this whole thing a bit nonsense, working together is always better than standing alone u_u

    ReplyDelete
    Replies
    1. I agree, but let's hope the brexit will work out especially for the young britains nevertheless!

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  8. From across the pond it's so scary to see what's happening with Brexit. Definitely count me in as one of those shocked by the outcome! Thanks for breaking it down to age groups and what not. I did hear that it was predominantly older people who voted for brexit but never really thought about the implications of that. If you haven't watched, John Oliver did a great bit on Brexit. He combines the perfect amount of comedy to explain this very serious matter. I hope everything works itself out eventually!

    Mili | Sharmtoaster

    ReplyDelete
    Replies
    1. Me too! & I'll definitely look into his show :)

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