In case you haven't heard of the latest global phenomenon occurring in a few days, put down that game for a minute and listen up:
The Brexit Poll is happening this Thursday, June 23, to determine whether the United Kingdom of Great Britain and Northern Ireland — commonly referred to as the UK or simply Britain — will be staying within the European Union (EU) or not.
If you're not a part of England, Scotland, Wales, Northern Ireland, and the rest of the EU, then why should you bother?
Simply put, it's a large enough separation of national entities that will, inadvertently, cause a ripple effect to the global economy as well as international political laws; the same economic and political policies that directly affect the gadgets you've been using and will continue to use for your entire life.
Two possible scenarios will happen after the results of Britain's Exit (Brexit) from the EU: the UK will stay within the union and everything continues the way it is now, with Britain's unrestricted immigration issues, disgruntled sovereignty over Brussels, and the euro's lackluster performance will keep affecting the Britain pound; the second scenario, on the other hand, sees an independent UK finally separated from the EU sovereignty and free from its "meddlesome" political and economic policies.
The latter scenario is our main concern here, as the separation will cause a flurry of changes in the EU's and the UK's terms of agreement regarding political and economic relations.
UK's independent state will no longer benefit from the open trade agreement present in EU members, meaning currently established companies in Britain's financial center, London, will no longer be the headquarters for all of Europe. Companies will have major restructuring to do while, in no certain terms, still remain at the forefront of the global industry. Furthermore, relationships between the two entities, EU and UK, will continually decline, causing much tension over talks regarding political and economic agreements.
These outcomes will have to be considered for future product releases by companies worldwide who are, after all, part of the network of industries UK-based businesses are also in. The stock market, too, is another major cause for concern as U.S. numbers are already feeling the effects of EU's unstable economy, which could affect future investments.
Recent polls have seen a steady increase in the general consensus to leave the union and until final results of the Brexit election are tallied and posted, we can at least be better prepared for the economic future this election may bring.
Photo: Jonathan Silverberg | Flickr
