Goodbye 2016
Top Reasons 2016 is one hell of a year Brexit Brexit is an abbreviation for "British exit," which refers to the June 23, 2016, referendum whereby British citizens voted to exit the European Union. The referendum roiled global markets, including currencies, causing the British pound to fall to its lowest level in decades. UK Prime Minister David Cameron, who supported the United Kingdom remaining in the European Union, resigned on July 13 as a result. Home Secretary Theresa May, leader of the Conservative Party, became Prime Minister, who has to deal with this crisis. Projections differ significantly over the precise economic effect, but there is a consensus that leaving would hurt Britain financially, at least in the short term. Without access to the union’s open markets, Britain would probably lose trade and investment. And while the influx of migrant workers has created anxiety over British culture and identity, losing that labor force could lead to lower produc...