Please don’t let the world say ‘I told you so’, Britain!

Published: June 25, 2016

The EU's 28 European Affairs Ministers meet in Luxembourg to lay the groundwork for Brexit talks at the EU summit on June 28-29. Talks start at 1230 GMT. PHOTO: REUTERS

I have a British passport and I’m a UK trained Chartered Accountant, having worked in the city of London for over a decade – which some would think means I am slightly better placed than many others to understand the implications of Brexit.

However, it’s too early for anyone to predict the socio-economic implications. I can say though, with quite some certainty, that at least in the short term the fallout is going to have far reaching implications.

Waking up this morning to Britain’s decision to leave the European Union is beginning to take on Black Friday like proportions.

Every social media platform is inundated with peoples’ views about Brexit and its dramatic implications. There will be much conjecturing ahead and a great deal of theories will take shape and fall by the wayside – academics are already saying there is a fear that Brexit will also become an acronym for the next brain drain or ‘brain exit’ out of the UK!

  • LS

    There is NO escaping the fact that following WILL happen:
    1) Britain has LOST the EU advantage since most of the companies that setup their offices in London to trade with EU will NOT invest additional dollars in England or may want to shift to other countries if they can afford it. You decided that you will NOT be the gateway to EU
    2) Future of UK is grim, Scottland who WANTs to be in EU is asking for another referendum to exit UK and same is the case with Northern Ireland. The future of UK as-we-know-it is in danger.
    3) While Pound has lost value and markets reacted sharply but they would stabilize albeit at lower value that what it is today since you don’t have EU leverage anymore. Wiping off billions of dollars of valuation, which cannot be offset by marginal increase in tourism, more students coming in or marginal increase in exports due to lower pound.
    4) All EU expats from England would loose the advantage of living in say Spain, Portugal, Gibraltar etc.. due to their lower cost would now find it difficult to stay in their homes and would have to come back since their pound isn’t worth that much, more over you can’t kick out all the immigrants who are already in England without invoking negative political ramifications..
    5) Your new bilateral agreements with EU and other nations aren’t going to be as good as they were earlier.. Thus, lowering your big market advantage and trade will only become expensive for you. potentially lowering your GDP by at least 0.5 to 0.8% points.

    Good luck… this exit will also be bad for immigrants and verbal and physical attacks on them will only increase…Recommend

  • Supriya Arcot

    Meanwhile whispers for a second vote are becoming roars .Recommend

  • Zain Ahmed Khan

    The post does not justify the title. What does the writer mean by not letting others say ‘I told you so’. Seems like a child being scolded. I think I get what he means but thats based on my interpretations of the title but the article talks about a lot of thngs except the title. Recommend

  • Gopal

    Your comment is confusing. Nobody knows what you are
    trying to say. Or put across, or fork across or spoon across.
    The author did not select the title. ET did. ET does, on all blogs.Recommend