On the 23 of June 2016, The United Kingdom voted to leave the European Union, the outcome of which has been referred to as Brexit. The question of how Brexit will affect the UK economy is one crucial issue but the effects are also being felt across world markets. Investors hate uncertainty and the result of the referendum gives rise to much uncertainty. The falls in Asias equity markets indicate an early judgment about the impact on the world economy. A big concern is the extent to which Brexit will disturb the world economy. The immediate fall in sterling and the freeze in investment are all indications that the short-term impact will be serious.

Required

Consider the likely economic effects of the UK's decision to leave the European Union,

1. 1on the UK economy
2. 2on the broader Global economy, a UK trading partner or a trading region