Numbers in Democracy

In the1975  referendum to test United Kingdom membership ,the result  67%  in favour, 33% against in a 65% turnout.

In June 2016  the Brits elected to leave with 52% majority, 48% to remain in a 72% turnout. The result caused wide spread turmoil.

• 2009 recession could return to UK.
• Drop of 6% in GDP in UK is muted as a possibility.
• Will affect South African GDP by + 0.2%.
• Petition is doing the rounds for a repeat the referendum.
• A call for a two thirds majority for referendums of this nature..
• The pound dropped by 10% against the US dollar.
• Stock exchanges dropped and then rebounded, JSE dropped by 3%.
• The EU 28 members might lose more members if referendums are held in other countries.

The IMF rates the UK the 5th largest economy in the world, contributing 3.9% to the world’s GDP,  Germany, contributing 4.6%.  The EU represents 23% of world GDP the USA  25%.The UK is second largest contributor of GDP in the EU. Germany is the largest….