No one really knows what happens now. The collective imagination leads to dark places.
The world map has been redrawn with the rules of commerce across Europe, the largest marketplace on earth. Britain’s vote on Thursday to leave the European Union has set in motion an unprecedented and unpredictable process that threatens turbulence and potential crisis—for Britain, for Europe and for the global economy.
Of most immediate consequence, Britain’s vote to leave Europe sent global markets on a wild descent. Investors gaped at this major refashioning of the global landscape and decided it looked perilous—or at least so pockmarked with uncertainty that they preferred to pull their money out of riskier corners like stock markets.
Few expect that Britain’s departure from Europe will set off a full financial crisis like the one seen after the collapse of the investment banking giant Lehman Brothers in 2008.
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