The NYT reports that the Brexit referendum outcome reflected populist sentiment and is sure to have far-reaching effects on Britain’s place in the world and the future of the E.U. This a good overview article.
This morning financial markets are looking for signals of stability from the UK government.
Critical questions are how long David Cameron will remain as prime minister and who will lead the negotiations with the EU.
More widely, the political establishment around the world will become increasingly fearful of populism. But don’t blame the populists (they just believe in democracy) – be fearful of the populists’ puppeteers…