Yawn! I spent the whole night and the whole morning in front of the TV which many of my friends and acquaintances found to be queer. They weren’t running the 24 hour Scooby Doo marathon which is usually Eid, Christmas kind of transmission for children. The much EU referendum had finally been conducted on 23rd June and the results were coming, one by one… like penalty shootouts. For the first three hours, I was watching the transmission on RT News, I am unsure why was I doing that? However, I switched to the British Broadcast later. Why did everyone find it so queer that I was wide awake and ogling the TV screen with the blue and yellow bar chart with labels as, Leave and Remain? Not that I hold the British citizenship or anything, I am a Pakistani by origin, nationality and heart. Making that a highlight, Pakistan is the third largest origin of immigrants in Britain. However, that is no reason for me to be interested in the EU Referendum. I am a student of Economics and Politics that is valid enough a reason and sound enough an argument to defend my case. Right? The books on Economic Integration do make an EU resident in their pages, trust me.
Prime Minister Cameron and I were on the same side so we both should resign because UK gave a 51.9% favour to Brexit, he has resigned, what shall I do? Nobody elected me; so, I will stay and analyse, forecast, sit back and watch and then go round in circles as time goes on. A friend from Britain is very disappointed as she was a Remainer. Some of the testimonials on the internet show the same reaction as hers. I am very surprised myself as the final opinion poll gave majority to the Remainers. However, the referendum results have been otherwise with strange pattern in public opinion. London, Scots and Irish voting to remain while Whales, and rural England along with the other labour class regions voting themselves out of the EU. As of today, Brexit? Brexit!
I spent the whole morning in a discussion with my father on what the world would be like after the Brexit. For now, it is as UK having its Prime Minister step down, sterling plummeting to a thirty years low, Asian Stock Exchanges crashing, oil prices falling, gold prices rising and Pakistan analysing its future as GSP Plus status holder, its cordial ties with the UK, immigration status and export prospects. The short term macroeconomic instability has already surfaced, within twenty four hours of the final declaration. What would happen in the long run? Will the Scots hold the independence plebiscite again? Can UK deal with the Article 50 effectively enough to save itself in time from the much predicted decade of uncertainty? Will the neutral nature of Brexit’s impact on Pakistan remain as it is or exit to the negative end? Will Britain be caught in a shell of isolationism or still be obliged by the common market? Will UK economy downsize over the next two decades? Is Europe’s future as challenged as predict the Economy Pundits today? Time will tell. In the meanwhile, I look forward to graduate in Economics next year if do nothing else.
I should be going now, quite much chattering for now.
Time to Exit! Not Brexit!