What will happen, however, is that there will be a net loss in Britain’s GDP. This is mainly due to the decrease in direct investments; London, which used to be the EU finance capital, will have major banks closing down to relocate to either Paris, Berlin, or Frankfurt. Centre For Economic Performance (CEP), which is a part of the London School of Economics (LSE), estimates that the U.K. would suffer a fall in income by 6.3% to 9.5% of GDP — similar to the loss the U.K. experienced during 08 financial crisis. Even in the best case scenario (a scenario where the U.K. manages to secure trade deals and the like), there is no possibility that they will break even as a consequence of the results in this referendum.
The frustrating thing about all of this is that the ones who have voted for remain (mostly younger voters) will feel this the most as they are the ones who will suffer from unemployed more than others.
So, the younger folks in the UK can really thank the elders. Well done!
Things are getting very shaky for the UK at this point..
