How the Brexit brouhaha will impact on India
England are heading out of Europe.
The referendum result is the biggest shake up to the status quo on the continent since World War II.
But in seeking to exit how much pandora bracelet the European Union, the British have unwittingly opened a Pandora's charm bracelets australia online Box.
The Scottish government, led by its First Minister Nicola Sturgeon, is now aiming for a second referendum on independence for Scotland, and seeking talks with the European Commission to ensure Scotland's continued membership of the EU.
Northern Ireland's Sinn Fin, a republican party seeking a United Ireland, is now advocating a referendum on specials on pandora bracelets Irish unity.
The Spanish government, meanwhile, has called for joint sovereignty over Gibraltar.
French ministers have asked for an abrogation of the Treaty of Le Touquet (2003), which allows British border forces to carry out passport checks in Calais instead of Dover.
David Cameron, the British Prime Minister who tendered his resignation on the day the referendum result emerged, has seemingly sleep walked his nation into potential dissolution, and there will be long term consequences.
The British pound declined by 10 per cent to the dollar by Thursday night, a historic collapse comparable to Black Friday, while global stock markets lost $2 trillion.
A London demonstrator holds a placard that reads "So Long Great Britain" during a protest against the pro Brexit outcome of the UK's June 23 referendum on the European Union
British European Commissioner Jonathan Hill has resigned, leaving his portfolio for Financial Stability, Financial Services and Capital Markets Union bereft of British influence.
Financial institutions based in the City of London could be stripped of their "EU passports," which allow them to sell financial services to European clients.
Investment banks are already warning of moves to lay off personnel based in the city, or relocate them to Europe.
The reviving British housing market is shop pandora primed for misery, with house builders' shares declining.
Standard and Poor (S has warned that the UK could lose its AAA rating soon, while Moody's has cut its outlook to negative.
Budgets for universities, the NHS, regional councils like Cornwall, and arts and science research will suffer significant cuts.
This mistrust of transnational trading arrangements will lead to a rise in intolerance against immigrants and free trade.
A recession is coming, and globalisation could be the victim.
The impact on India
For India, Brexit offers a mixed bag. India's Sensex Index has been affected by the collective bloodbath, opening 700 points lower last Friday, while investors lost a collective Rs 4 lakh crore.
Emerging markets such as India will see a short term collective sell off from investors, as they seek a flight to safety.
Labour leader Jeremy Corbyn could lose his job after a spate of mass resignations from his Shadow Cabinet in the wake of the UK Vote for Brexit
The rupee will face significant downward pressure, having fallen already to 68.22 against the dollar on Friday morning.
Brexit volatility will impact on foreign investments, given a slowdown in global growth and limited financing.
Over the short term, the rupee could even touch Rs 70 vis vis the dollar.
On a medium term scale, Indian companies operating in the UK (there are over 800, contributing over $4 billion to the British economy) could face significant headwinds.
The India UK bilateral trade is worth $14.02 billion, with India exporting $8.83 billion and importing $5.2 billion worth of goods.
While negotiations will take about two years to lead to an exit, the springboard provided by the UK to the European market will vanish.
IT companies, working primarily with financial services customers in the city, are expected to take a significant hit to their earnings 30 per cent of their $100 billion revenues comes from the European market given forex volatility, and their customer base.
The automobile sector could face a downturn, thanks to a decline in the export of cars and auto components to Europe, along with a regressive margin impact from the British pound and the euro's depreciation.
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