Markets collapsed this morning as voters in England have approved leaving the European Union. Five percent drops were felt around the world, and trading was suspended in some markets. The U.S. markets are projected to drop sharply on open.
David Cameron has announced that he will step down following the vote, and has visited the Queen of England for a conversation. Nigel Farage endorsed Cameron’s leaving and asked for the formation of a new government.
The decision may lead others to follow suit. Denmark and Switzerland have opposition parties who are pushing to leave the EU also. Complicating issues in Britian, there is talk of Scotland revisiting the idea of separating from Britian. Ireland separatists are talking about similar moves.
The vote emphasized the overall discontent of British subjects to a host of populist ideas, not the least of which is the heavy influx of immigrants from Africa and the Levant. Poor economic conditions have also sparked resentment against immigrants wishing to resettle in England and Scotland.
The vote places Nigel Farage in the center of a populist movement that will affect the political climate of England, a climate that has created poulist movements all across Europe.