For all the confused Americans because world news is very much America-centric: The U.K. voted to leave the EU (European Union) and now the pound has plummeted to an all time low. The EU is economic and political partnership involving 28 nations that began after world was 2 and has turned into a freemarket of sorts in the name of European unity. This allowed both goods and people to move through these countries as if they were all one nation. It's why there is the currency the Euro. The referendum is the first one held in the UK since '75 which was only 2 years after the beginnings of the EU were formed. The people of the U.K. Voted on whether the UK should remain a member of the EU or not. People said they should leave because the EU was holding them back with their restrictions. Also those people are very afraid of immigrants throughout the nation. Can you guess where their fear is stemming from? People said they should stay because the EU makes trade and commerce easier and allows strong and willing immigrant workers to assist the country and give it an economic boost. They voted to leave. 48.1% to remain and 51.9% to go. HOW AGES VOTED: 18-24: 64% Remain 25-49: 45% Remain 50-64: 35% Remain 65+: 33% Remain (Do you see an issue?) They’re on their own and none of their politicians seem to have a current direction. Also, their prime minister just announced his resignation meaning they have even less leadership in their government. Scotland's majority voted to stay in the EU. It’s being said that most likely Scotland is going to vote out of the U.K. next. Northern Ireland has also had talk of becoming one nation again with the republic or maybe a separate nation as they also voted to remain. This bodes poorly for commerce and immigrants/immigration, and most likely the UKs economy. In only 2 hours the UK economy has lost $350 billion. It's INSANE that the pound is down 8.4%, which is the biggest decline of wealth in the UK since 1921 has occurred over the past 5 hours. The minimum time it will take to negotiate their leave from the EU is 2 years and they will still be under the same regulations and laws as the rest of the EU but won't take part in decision making.
