What Brexit means for the rest of us

IN a shock for financial markets which had been increasingly confident that Britain would vote to remain in the European Union, a victory for the Leave outcome by 52 per cent to 48 per cent triggered an abrupt bout of "risk off" in financial markets late last week.

I suspect it was probably also a shock to many Britons themselves some of whom seem to be going through a bit of Bregret (thinking they were just delivering a protest vote against the establishment and assumed that Remain would win anyway). Of course, it wasn't a good week for Europe either. This note tries to put it all in perspective.

Risks and uncertainties