LONDON- London Stock Exchange trading in shares of two major British banks which include the Royal Bank of Scotland and Barclays, had to be temporarily suspended Monday due to increased market volatility following Brexit.
Financial turmoil and uncertainly was felt globally, and led a message across the channel from European foreign ministers to Britain- “see ya later”. The foreign ministers wish the process to move as swiftly as possible with the anticipation that things will calm down.
Dutch Foreign Minister, Bert Koenders explains, “We need to turn the page; we don’t want a vacuum. It’s important now that these negotiations with the United Kingdom start in good faith, but as soon as possible.”
Martin Schulz, the European Parliament President, commented that negotiations should begin Tuesday. However, George Osbourne (British Chancellor of the Exchequer) believes the the United Kingdom will make the decision.
Osborne stated, “Only the U.K. can trigger Article 50. And in my judgment, we should only do that when there is a clear view about what new arrangements we are seeking with our European neighbors.”
There are some European leaders that wish the U.K. would reconsider. Three million British signed an online petition over the weekend to have a second referendum vote held regretting the Brexit vote.
People are now concerned that five more nations may decide to exit the EU which include: France, the Netherlands, Austria, Finland and Hungary.
France’s Front National leader, Marine Le Pen, vows that she will hold a French referendum if she wins next year’s elections.
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