1. On June 23, 2016, voters in the United Kingdom voted to leave the European Union. From June 16 to June 23, 2016, the exchange rate between the British pound and the dollar increased from 1.41 dollars per pound to 1.48 dollars per pound. What can you say about market expectations regarding the result of the referendum?
2. The IMF does not enjoy a great reputation in many countries that were recipients of IMF loans or bailouts. Explain why many citizens were not happy with the role played by the IMF.