Rebellion of the middle classes.

  Maestro: M.A. Isaac T. Guzmán Matar

  Plan: 401

  Nombre Alumno: Daniel Isaac Alcantara Ávila

  Matricula: 1509696

  Carrera: IME (Ingeniero Mecánico Eléctrico)

  Semestre: 8

Advantage

Disadvantages

1. Spanish Gibraltar? It is very significant that 95.1% of the citizens of Gibraltar have voted yes to continue in the European Union. The reason? The economy of the colony depends to a large extent on the privileged status of being in the EU. The free movement of capital and people has allowed the Rock to be a tax haven with great economic benefits. Of course, they do not want their situation to change. Spain could take advantage of this situation. Gibraltar's prime minister, Fabian Picardo, acknowledged in a recent interview that "if Gibraltar wants to continue to have access to the single market and the rights of free movement, it would have to reconsider joining its sovereignty with Spain."

2. The EU must change its policy of wresting so much sovereignty from the 28. This blow to the European Union could be the beginning of a stage in which Brussels makes self-criticism about its policy of intruding excessively on the sovereignty of member countries. Nicolas Sarkozy said a few days ago that Brexit could be an opportunity to rethink the European Union and rectify the mistakes made in recent years. What in principle had to be an EU of economic cooperation has mutated in a mega structure of bureaucrats that has done everything to reduce the capacity of decision of each country besides its own historical identity.

3. Rebellion of the middle classes. The outcome of the British referendum has been a resounding 'no' to globalization and globalization, which is so mistrusted by middle classes increasingly suffocated by taxes. In addition to the global economic crisis that has weakened the purchasing power of the middle classes, massive EU-sponsored immigration has provoked an attack on the identity of each country.

1. The global economy suffers: The British pound plunges more than 7% against the dollar, falls to $ 1,377. The British currency has fallen to unprecedented levels since 1985, which could lead to a contingency intervention by the Bank of England, which had already advanced that it had planned measures to ensure financial stability. The United Kingdom is likely to enjoy similar status as Norway. A two-year deadline is set for the EU and the UK to negotiate the conditions for exit.

2. Domestic political crisis in the United Kingdom. While England and Wales have voted in favor of the departure of the EU, Scotland and Northern Ireland have voted in favor of the permanence. This is a major breach in the United Kingdom, which now faces full security in new referenda for the independence of the Scottish and Northern Irish who will decide to remain in the EU in return for leaving the UK. A decision, without doubt, transcendental.

3. Rapid effect contagion to the Spanish economy: The British earthquake has had its counterpart in the Spanish economy. Our risk premium closed before the vote to 138 basis points with respect to the German bond. However, this morning has risen to 179 points. Spanish stocks listed on the Ibex 35 and with the largest exposure in the UK have plummeted by 10% to 20% on the Stock Exchange following the Brexit triumph. Sabadell has sunk 20.42%, Santander 18.93%. IAG has left 17.63%, Iberdrola 12.01%, Telefónica 11.64% and Ferrovial 10.27%.

4. Political failure and blow to the European Union's common project: The departure of the United Kingdom, Europe's second largest economy, is a hard blow to the European Union's common project, which loses one of its main powers. The open fracture in Brussels could trigger further consultations in other countries - perhaps France? - in which there are parties like the National Front (now leader in the polls) that ask for the exit of the EU.