Friday 24/6/2016 - 3:00pm.
As late as this morning
commentators were predicting that Britain would stay in the European Union but
it would seem they have got it all wrong with a clear indication in late
counting that they will exit. How will that impact?
In Great Britain, even
leaders of the exit case are expressing surprise at the result, claiming it as
a victory for “common decent people.”
Just as predictions on the
result were wrong, it would be foolish to predict what the impact on economies will
be but the £stg has lost nearly 9% in value and the Australian share market is
down a monstrous 3.5% at the time of writing (3:00pm Friday 24/6). The retail
sector of the ASX was down 2.9% at the same time. Certainly there is
significant uncertainty on financial markets. Hopefully those early signs of
panic will dissipate.
