The vote by the UK to opt out of the European Union (EU) has already triggered a sharp selloff in global financial markets. British Prime Minister, David Cameron has resigned, which will put the execution of the U.K.’s exit onto the next government and allow some time for markets to calm. The trigger of article 50, the beginning of the separation, will now occur in the fall. The vote was carried by voters over the age of 65; younger voters opted to remain in the EU but they will be tasked with the burden of living with the consequences of the decision.
The UK will likely dip into recession