With the loonie finishing down close to 1.5 cents on Friday, and triple digit losses on Toronto’s Bay Street, we are already seeing the far reaching results of Thursday’s Brexit vote.
When Britain leaves the European Union, it could make keeping the E-U together much more difficult.
Duane Bratt is a political science professor with Mount Royal University in Calgary. He told 630 CHED’s Ryan Jespersen Show that there has always been simmering anti-E-U sentiment in Europe, and this could be the spark that sets off a chain reaction.
“Clearly, this was a vote for isolationism in Britain. I don’t think there’s any doubt. Given that the two major issues were trade and the economic relationship with the European Union, and immigration, and you put those two together it is a message that states ‘We want to separate from the rest of the world.’
“It’s been a major force of integration, part of it is tied into NATO, that has helped keep the peace in Europe since the end of the Second World War. The implications remain very large, and some of these are unknown on just how serious this could be.”
Bratt says besides economic instability, a weaker E-U could mean more political turmoil as isolationist, nationalist movements take hold in other member countriesms.