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Brexit referendum vote counting remains close late into the night. If the Leave vote carries the day, overnight Britain begins a self-chosen unwinding of nearly every aspect of its governance, commerce and daily life. From Game of Thrones production funding to retiree medical benefits in the Algarve, the repercussions will touch every industry.
Preparations will have ranged from thorough to nonexistent. Citi’s forex staff have worked round the clock though their executives did not let it interrupt their annual ‘Ferrari Safari.’ Other entities will have gambled on Remain. Even those who think they are prepared will encounter the unexpected.
To have the opportunity to experience a highly developed society deconstruct itself in peacetime and of its own initiative (or destruct, depending on your view) is the learning and career opportunity of a generation. If I were 20 and unattached, I would book the first ticket across the Atlantic if Brexit is a go. New graduates in any field will have momentous work even in the most tedious pursuits.
Last year I was in Lille, France on business. It is traditionally home of French companies such as much-admired sports retailer Decathlon. In recent years, its strategic Eurostar stop has become a commerce hub and commuter suburb for London, Paris and Brussels. Lille will be a microcosm for the wrenching changes to come. I might just set up shop there and watch it unfold.
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@ Shannon – Saying those who have an MBA will never get it is too broad of a generalization – but this speaks volumes – “To have the opportunity to experience a highly developed society deconstruct itself….is the learning and career opportunity of a generation.” The learning and career opportunity of a generation? Just. Wow. Even better if that “Greatest New Graduate Career Opportunity in Decades” is fully funded by the taxpayer, no?
Time for an Anglo Summer Do? Fortuitously will be vacationing in the UK July 28-Aug 3. Not sure if the exchange rate benefit makes up for my retirement account losses…
@james – July 28 is possible, I am tentatively there that week until July 29, looking at a quick circuit of Edinburgh, Cardiff, Isle of Man, and out via London to Boston.
Congratulations for them to make a decision for their future, even under huge pressure from other countries. A lot of things are much more important than money and void noble concepts. Sadly those people studied MBA will never get it. And if Scotland won’t happy with it, go ahead to remarry EU. These endless ” marital crisis” are getting unbearable like some posts here and there on boarding area.
You know, this is interesting. I am surprised they did vote to leave, however it may not end up meaning much of anything! Look at Norway and Switzerland; both doing just fine. They are “outside the EU”, but inside the single market, Norway through EEA and Switzerland through a bunch of treaties that end up meaning the same thing. Today Norway and Swizterland cooperate with the EU on a bunch of things and do not cooperate on other things. The UK today is in a similar position in not cooperating on everything. My bet is that they will just take… Read more »
What a crock of Sh#$. The UK did just fine before the EU and doesn’t need the EU now. Stop fear mongering!
@Ken – fear mongering to say it is a great career opportunity for a young person starting out? No one debates it will be a massive out of effort and money to disentangle and what better place for a young person to learn.
It is uninformed to suggest that Brits are voting to leave because of immigrants. If we choose to enter any economic treaties with Europe then we will stay have the same issues. We are exercising our democratic rights to vote out of an entity which lacks democracy, where nations group together to outmanoeuvre the little guy, where ridiculous amounts of money are wasting on feeding national pride and egotism. Immigration is definitely one issue but it is not the only one
@Anne – that was a specific response in the comments to a reader suggesting someone from overseas would not be welcome ad an immigrant, a fare concern to have. It was not a discussion of all the varied motivations for Leave and Remain nor advertised as such. The original blog post intentionally took a balanced approach and focused on the point if it, the career opportunity presented by this event.
I would like to use this post to remark that Gary Leff will likely share his uninformed opinion on this topic in the hours to come. Stay tuned folks.
It does not, but, in theory, at midnight Pacific Time, rates will update to the current rates +1% for Visa, as they usually are.
I am staying up late tonight to book all of my tickets for when the Pound falls, as it already has 11%!
@Andrew – are the rates on your card updating in real time?
@Joseph N – if it happens they will be in so deep that anyone with a life preserver might not be unwelcome. The irony will be lost that if it goes forward in part because of resentment of immigrants doing jobs Brits won’t or won’t as cheaply (the Polish plumber bogeyman), yet to carry it out will involve massive windfalls for the lineup of officials in Brussels, lawyers, bankers, consultants, etc that this is supposedly a thumb in the eye to.
And I did say I would put myself up in Lille, can get elgeant food there, too!
What a great attitude you towards this.
However, it seems the Brits are voting to leave the EU because they don’t want foreign workers. If I was 20 and moved to the UK to work, I’m not sure I would be welcomed.