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World

Voters may feel betrayed by economic hit

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Opening sequence

World

Voters may feel betrayed by economic hit

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Transcript

00:00:00
>> We've got our country back.>>
APPLAUSE
>> The campaigners who backed Britain's vote to leave the European Union have promised less immigration which they can probably deliver, and more prosperity, which they probably can't. I'm John Foley, the editor of Reuter's Breaking Views and I've been spending the morning looking into the impact of Britain's shocking decision to leave the European Union.
00:00:21
Markets have reacted with shock, as has much of the country, over Britain's 52% vote to leave the European Union. The pound is down, stocks have fallen, but it's not just in Britain, global markets too have fallen. The yen is up, gold is up, safe haven assets are rising, while stocks almost everywhere else are falling.
00:00:39
>> Thank you very much,>> Now Cameron had to go because Cameron had staked his career on staying in Europe, as has the Chancellor of the Exchequer, George Osborne. Now, with Cameron and Osborne out of the picture, the question is, who is going to replace them, and will they be equally palatable to foreign investors and companies.
00:00:57
Now, it's not obvious that there is a whole load of experience in the Tory party, and there's no one who obviously has both economic experience with the kind of mass appeal that you probably need to run the country.>>
SOUND]>>
What happens in the next three months is crucial because if voters do feel that they've been sold a lemon, if the economy really collapses, then the new prime minister whenever he or she comes in, is gonna have a very different mandate.
00:01:24
They're gonna be going to Europe asking for favors and asking for forgiveness rather than going asking for a divorce, and being punchy and empowered. And of course if the economy does justify then they will go to Europe and they will say, thanks Europe but we don't really need you anymore.
00:01:38
So everything hinges on the next few weeks and what kind of economic signals we see coming through, and that will decide whether the 52% of the population that voted leave, have done the right thing or not.