Brexit: What have we learned so far?

On 23 June 2016, the British electorate defied the expectations of political leaders, financial markets and foreign allies by voting to withdraw from the European Union. Political shock and market upheaval followed. Theresa May replaced David Cameron as prime minister, the opposition Labour party began a leadership contest and the future status of those areas of the United Kingdom (Scotland, Northern Ireland, London and even Gibraltar) that voted to ‘Remain’ was thrown into doubt. The ‘Leave’ campaign hailed its 51.9 per cent share of the vote as the declaration of Britain’s ‘Independence Day’.

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