By Sikander Hayat
23rd of the June 2016 will always be remembered by the people of United Kingdom. People have spoken and they want out. United Kingdom is out of the EU and Pound is down to the value it has not seen in many decades. This is the most momentous and seismic event after 1945. What is goingto happen is anyone's guess as most people are coming to grips with the new reality. The sheer weight of immigration forced British people to leave European Union.
In the short to medium term, British economy will come under great stress from the uncertainty created by the Brexit. There is a danger that jobs willbe moved from London to European Union centres and London may lose a lot of business to rival cities within the Union.
It will take at least two years for the negotiations to conclude between UK and EU on terms of exit. David Cameron has resigned but will stay on till October when new PM will be selected who will trigger article 50. Article50 states that if a state wants to leave EU it shall notify the community and this notification will start the two year clock on the two year period.
Immigration was the biggest and single most important issue which lead to Brexit as 3,000,000 Eastern Europeans have moved to UK in last 10years. This has put huge pressure on the public services including schools, hospitals, jobs and housing. EU’s refusal to accommodate UK on the issue of free movement of people has lead to this decision by British people.
EU should now learn the lessons and start listening to concerns of the remaining member states before it is too late.