Brexit vote, UK political confusion keep world markets on edge

by KYLIE MACLELLAN AND ANIRBAN NAG | Reuters  |  published on June 28, 2016

Britain’s vote to leave the European Union continued to reverberate through financial markets, with the pound falling to its lowest level in 31 years, despite government attempts to relieve some of the confusion about the political and economic outlook.

UK finance minister George Osborne said early Monday that the British economy was strong enough to cope with the market volatility caused by last week’s “Brexit” referendum which has resulted in the biggest blow since World War Two to the European goal of forging greater unity.

“Our economy is about as strong as it could be to confront the challenge our country now faces,” Osborne told reporters.

“It is inevitable after Thursday’s vote that Britain’s economy is going to have to adjust to the new situation we find ourselves in,” said Osborne, who later ruled himself out of the running to succeed David Cameron as prime minister.

Boris Johnson, a leading proponent of Brexit and the frontrunner to be the next prime minister, praised Osborne for saying “some reassuring things to the markets”.

  • The Redhawk

    “ON EDGE” but for a Short Time….the DOW bounced back already ….and as soon as the Brits get their new Government in place, as the Fifth biggest Economy in the world, they’ll realign and Prosper with the Freedom From “TAKERS” bureucrats in Belgium…and border control ….

  • Walt

    Folks the problems the USA is facing is like all the same that EU and other countries have been facing with no borders. The Muslims that are the Extremist Islamic Terrorist and have been radicalized into wanting to kill Americans need to be on the high profile list that should not be allowed in the USA. All of these ISIS fighters and Muslims that want to kill Americans have been taught this every since they were old enough to talk and understand. Killing Americans is to them a good thing because they are radicalized and think we are the infidels, and they will die as martyrs and be blessed by Allah. How stupid is this?

    God will be judging and sees everything that is going on in the world. The Muslims should be praying for forgiveness and repent of their sins and all become Christians in the name of the real God. They should be living by The Ten Commandments of God. All of this killing of Non-Muslim believers is why we are having all of these problems in the world today. The only way to get rid of these problems is to not let these foreign Islamic Extremist Terrorist into America. They should stay in their own countries where they can practice their religion and their Sharia Law and not be allowed in the USA.

    • Josephine Woods


    • The Redhawk

      and that IS a BULLS EYE!!!!

  • TeaPartyPatriot

    I see where Brexit has exercised some sanity. They had to exit from the EU to restore self government at home instead of relinquishing it to a bunch of egghead socialists in brussels. I only hope the US will take a lesson from Britons and get us out of the UN. and stop this NWO nonsense of being ruled by an oligarch.

    • The Redhawk

      BULLS EYE…. the bRITS saw that Idiot Obama bull crapping about GLOBALIZATION and “GOT THE MESSAGE”…..So why can’t Odumbo Voters act Intelligent for a CHANGE and admit that they ELECTED a BULL CRAPPING IDIOT?????

  • Sanity Please

    So, this is what happens when you let the rabble determine policy. You can’t govern a country by referendum. Pure democracy does not work. “Power to the people” sounds good until you get things like this Brexit mess. Americans, take note.

  • justinwachin

    Eventually things will return to normal. With the right leadership Great Britain will emerge stronger as an independent nation free from the shackles of the EU.

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