The United Kingdom is going to make their call on June 23, as Prime Minister David Cameron promised. The Brexit poll results will decide whether UK stays or leaves the league of EU nations.
While the final decision is going to change dynamics inside the United Kingdom,it already has sent shock waves across global trades and relations. Jo Cox, a British member of parliament was shot dead on Thursday, causing deep shock across Britain and the suspension of campaigning for next week’s referendum on the country’s EU membership.
Let’s track how Brexit is affecting the World today:
10.30 (IST): European Commission President Jean-Claude Juncker says the British people would be committing an act of ”self-harm” if they vote to leave the European Union.
10.00 pm (IST): Former Spice Girl Victoria Beckham has registered her view that Britain should remain in the European Union, posting a “IN” image on her Instagram page.
9.00 pm (IST): Global stock markets edged higher on Thursday while sterling reversed gains after hitting a more than 5 1/2-month high earlier in the day as polls and surveys showed the United Kingdom’s vote on leaving the EU on a knife-edge.
8.30 pm (IST): “Brits don’t quit”, Cameron declares as EU referendum in balance
7.30 pm (IST): Federal Reserve Chair Janet Yellen issues a semiannual testimony on the US economy and monetary policy as prepared for delivery on Tuesday to the Senate Banking Committee.
5.22 pm (IST): Sterling climbed to its highest since early January against the dollar on Tuesday, after opinion polls suggested the campaign to keep Britain in the European Union was edging back into the lead.
5.20 pm (IST): Oil prices fell on Tuesday after a strong two-day rally abated amid volatility fed in part by a vote later this week in Britain that will determine whether the country will leave the European Union.
4.40 pm (IST): US companies which depend on the United Kingdom for sales are downplaying the risk that a vote by Britain to leave the European Union could seriously harm their businesses, even as economists and Wall Street have expressed concerns about the trans-Atlantic economic impact.
4.18 pm (IST): Most Southeast Asian stocks rose on Tuesday, in line with Asian markets, amid growing expectations that Britons would vote to remain in the European Union in Thursday’s referendum.
4.00 pm(IST): Indian share markets ended lower on Tuesday as investors booked profits after a rally in the previous session, even amid positive global cues on easing of Brexit fears.The BSE index ended 0.20 percent lower at 26,812.78, while the broader NSE index closed 0.23 percent down at 8,219.90.
3.28 pm (IST): British factory orders improved in the three months to June, according to an industry survey published on Tuesday, a latest sign that a slowdown in the economy before Thursday’s European Union referendum might not be as sharp as some forecasts.
2.42 pm (IST): Billionaire currency trader George Soros has warned that a vote for Britain to leave European Union will trigger a plunge in the pound without benefits that can come with a devalued currency.
2.11 pm (IST): JPMorgan researchers said on Tuesday that Britain’s referendum on European Union membership in two days was too close to call. While polls have painted a contradictory picture of public opinion ahead of Thursday’s vote, betting odds have consistently indicated a high probability of a vote to remain. Betting odds on Tuesday indicated a 75 percent probability of a Remain vote, according to Betfair.
2.03 pm (IST): Opinion polls on Tuesday suggested growing support amongst Britons for staying in the European Union but the vote in two days time which will have far-reaching consequences for Britain and Europe remains on a knife edge.
1.50 pm (IST): European shares steadied after a sharp rally in the previous session, although commodities-related stocks came under pressure following a drop in mining and energy shares.
1.34 pm (IST): Former England soccer captain David Beckham on Tuesday backed the “In” campaign in Britain’s European Union membership referendum this week, to the delight of Prime Minister David Cameron and those who want Britons to stay in the bloc.
1.22 pm (IST): The chief executive of Vodafone warned that Britain needs to remain in the European Union to influence the development of the single market for digital services, one the fastest growing parts of the economy.
1.12 pm (IST): The Asian credit market was firmer on Tuesday as investors kept buying into cash bonds on receding worries over the United Kingdom leaving the European Union.
12.44 am (IST): The ‘Leave’ vote for Britain from the European Union under the ‘Brexit’ referendum scheduled for June 23 would surely unnerve the global financial markets, leaving strong ripples for the Indian markets as well, necessitating a contingency plan by the government and the Reserve Bank of India, an ASSOCHAM Assessment Paper stated.
12.16 am (IST): Britain’s newspapers take sides in EU referendum debate.While newspapers like The Times,The Mail on Sunday, Daily Mirror, The Financial Times, The Observer, The Guardian stood on in favour of remaining in EU, papers like The Sun, The Sunday Times, The Sunday Telegraph, The Telegraph want Brexit.
11.45 am (IST): Japan’s Nikkei share average rose on Tuesday in choppy trade, as a weakening yen supported sentiment, but trading was thin as investors stayed cautious amid hopes Britain will stay in the European Union in this week’s referendum.
11.37 am (IST): Belgium’s WWII veterans worry about Brexit.These resistance fighters used Britain as a rear base to battle the Nazi occupation of Belgium, now the post-war heart of the European project for peace and prosperity. But they fear Britain could become the first country to leave the European Union and trigger its unravelling, if British voters choose that path in Thursday’s in-out referendum.
10.58 am (IST): Ignoring positive Asian cues, market benchmark BSE Sensex fell by 83 points in early trade today on profit-booking by investors in recent gainers. Sentiment remained cautious ahead of the UK referendum on whether to stay in the European Union due on Thursday.
10.56 am (IST): The BSE Sensex on Monday soared 241 points as the government unleashed a new wave of FDI reforms and Brexit worries eased while hectic buying by institutions and talking-up by influential marketmen helped counter Rexit jitters.
10.05 am (IST): Most emerging Asian currencies pulled ahead on Tuesday amid growing expectations that Britons may vote to remain in the European Union in this week’s referendum, while trading was subdued on sustained risks of an exit.
9.59 am (IST): China and Hong Kong stocks edged up on Tuesday morning, as investor sentiment in global equity markets continued to improve on growing expectations that British voters will opt to remain in the European Union in this week’s referendum.
8.21 am (IST): Oil prices fell in Asian trade after a strong two-day rally that was fed by easing concerns Britain would leave the European Union after a referendum this week, allowing market participants to focus on supply issues.
7.54 am (IST): Australian shares rose for a third straight session on Tuesday as investors grew increasingly optimistic that the United Kingdom will vote to stay in the European Union later this week.
6.05 am (IST): Asian shares got off to a tentative start on Tuesday, as investors paused after a rally triggered by growing expectations that British voters will opt to remain in the European Union in this week’s referendum.
3.06 am (IST): Britain’s Daily Telegraph newspaper came out in favour of quitting the European Union on Monday, urging voters to tick the “Leave” box in a referendum on Thursday.
2.05 pm (IST): Wall Street rose on Monday, though indexes ended far from the highs of the day, in a relief advance after indications that British voters later this week will choose to remain in the European Union.
Days before the Brexit poll, a British lawmaker Jo Cox was stabbed to death in West Yorkshire,bringing the campaign to a brief halt. Jo Cox,41, was in favour of UK staying in EU. While the incident shocked the World, motive of the murder is yet to be known. The police has arrested a suspect named Thomas Mair and is being investigated.
The man accused of murdering British lawmaker Jo Cox made a brief appearance via videolink at London’s Old Bailey criminal court on Monday, speaking only to confirm his name.The murder of Cox,has shocked Britain, raising questions about the tone of campaigning before Britain’s referendum on EU membership which takes place on Thursday.
Brexit is an abbreviation of ‘British exit’ that mirrors the term Grexit. It refers to the possibility that Britain will withdraw from the European Union. The UK is set to hold an in/out referendum this month on whether there should be a British exit, or Brexit, from EU. Momentum is growing behind the EU exit campaign, which wants to end central control by Brussels and give Britain the freedom to manage its own affairs.
According to analysts, any such division within the bloc would likely be seized upon by Russia, whose ties with the EU have been badly damaged by the Ukraine conflict. Analysts said losing a UN Security Council permanent member and NATO lynchpin like Britain would likely diminish the EU’s influence and respect around the world, while also making it more inward-looking.