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In the 23 June referendum, a majority of the UK electorate voted in favour of leaving the European Union. Close to 52% of voters opted for a Brexit in a very clear-cut result, especially as the participation rate was a high 72.2%. Apart from the UK, obviously, the economic damage to the rest of the world, at this stage, seems relatively absorbable. Persistent financial uncertainty and volatility are not, however, conducive to investment, which is a source of lasting growth. Conversely, the political fallout is enormous and multifarious. The vote shows us the sad spectacle of where political opportunism and recklessness can lead. It also teaches us that ‘it isn't conceivable because it would be catastrophic' is not a strong political argument.
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