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The world is now looking ahead to what’s next after a shocking vote confirmed the United Kingdom will be leaving the European union. The Brexit referendum result is getting reaction from leaders worldwide including Prime Minister Trudeau and it’s taking its toll on the markets, with big losses in North America and abroad.
With Brits voting to sever ties with the European union, the leader of the UK independence party, Nigel Farage was all smiles.
“It’s independence day, the ordinary decent people of this country have overturned the establishment, the big banks and the big businesses, and from me a massive mega thank you.”
Once it became official that his pursuit to keep the UK in the union failed, British Prime Minister David Cameron announced that he would step down in October. Boris Johnson, who is pro-independence and a potential replacement for Cameron, is the former mayor of London and rejected criticism that such a significant decision was left to the people.
Whoever the new leader is, they’ll be responsible for activating article 50, which starts the UK’s departure from the now 27 country union.
The UK is Canada’s third largest export destination behind the US and China and our sixth-largest source of imports. Prime Minister Trudeau said today that Canada will weather the storm after this monumental decision.
