Yesterday the whole atmosphere was buzzing with the word ‘Brexit’ and ‘Rains in Mumbai’, both in different capacities of course, while I tried battling the jet lag that I experienced after my two-week long US trip. The moment I woke up, there was anxiety around it and my hubby asked
How do you think Brexit will impact?
What is Brexit? (still rubbing my eyes)
Don’t you know what Brexit is? Which world are you in?
(should have just googled it)
Maybe I was expected to know everything when I married an IIM graduate, or maybe I became smarter while I was sleeping. I don’t know why he expects me to be on top of things especially when it comes to general affairs I might prefer sleeping, plus I have been traveling and not caring much for being upto date with the world. Anyway, I quickly realized I had to be on top of things as this is going to be the topic in vogue for the next few days. So all you out there like me, simply put;
Brexit stands for British exiting European Economic Area Countries (EEA).
What’s EEA?European Economic Area is group of 30 European countries. So all these countries have made certain trading rules and regulations in terms of Exports and Imports. All these countries should follow these trading rules as per agreement.
Why did it want to leave the EEA?
Primary reason is, UK is not free to make trade rules on its own, EEA trade rules should be followed. So UK govt. feels they can make free trading rules with rest of the World countries, so that they can benefit in long term.
When the initial knowledge was doused on me and I felt smarter I started appreciating the joke flowing in;
Positive thought for the day – If you weigh yourself in pounds. Today you lost a lot of weight.
– The British Pound has plummeted by more than 10% and is back to its 1985 levels in the global economy…Oops !!
– The Euro crashed the most since it was launched in 1999…!!
The fall in the Pound is good news for the Indian student community in UK since it would be favourable.
Travel to UK will get cheaper.
But eventually the pound will stabilise and this can be looked only as a short term effect.
– Oil is moved lower than 48 dollars a barrel…ie more than 6%!
Immigration to the UK will become tighter. Existing Indian population in UK will face stiff competition from it’s citizens when it comes to jobs.
Indian Sensex reacted by shedding more than 1,000 points within hours of opening! Isn’t this a bit of overreaction?
Well some of us might have lost a lot of money or you can see it as an opportunity to invest.
How it will finally impact remains to be seen but as of now guess who is having the last laugh…