Co-author: Mr Saman Bugeja
In a historic vote held on the 23rd of June 2016, the people of
the United Kingdom went to the polls in order to determine the
faith of their country's membership within the European Union.
In an unprecedented, albeit expected result, 52% of those eligible
voters opted for 'Brexit' meaning that for the first time
in the history of the European Union, a member state will be
triggering Article 50 of the Treaty of the European Union (TEU) and
commence the withdrawal procedure from the Union.
The news of a Brexit immediately rattled the financial markets
as the Pound plummeted to a thirty year low against the Dollar, and
the Euro also fell slightly. Obviously, this may only be a knee
jerk reaction to the result and in fact, only a couple of days
later, the markets stabilised whilst experts have already
re-assured that this drop will not bring about a recession and that
the Pound will recover. Also, it is too early to say how bad Brexit
will
