Britain has voted in Brexit referendum with 51.9 percent of its voters in the Leave option.
As the world woke up to the news of Brexit pushing through, experts started casting doubt on the European Union and its ability to stay intact.
Alan Greenspan, former Federal Reserve chair, spoke to CNBC “Squawk on the Street” on his thoughts about Brexit. He has called it the worst period in modern history. He even dubs it worse than the American housing crisis.
“This has a corrosive effect, which is not easy [to make] go away,” he further remarked of Brexit referendum results.
Even Nigel Farage of the British Anti-EU Party UKIP has voiced similar sentiments.
“The EU is failing, the EU is dying,” Farage proclaimed.
Nigel Farage also hoped that Denmark, the Netherlands and Sweden follow Britain’s example, The New York Times reports.
Aside from the European Union taking hits from its critics, Brexit also led political analysts to surmise that other territories in United Kingdom might renew their quest for independence.
Alan Greenspan specifically cited Scotland to “resurrect” their independence.
Meanwhile, the European Union sought to reaffirm the other 27 nations confidence in the union. The EU top leaders along with the state heads released unifying statements for the bloc.
European Union’s top leaders Donald Tusk, Jean-Claude Juncker and Martin Schulz released a joint statement to show solidarity.
“This is an unprecedented situation, but we are united in our response,” the top leaders said, The Guardian reports.
After the vote, the EU leaders were keen to see UK leave as soon as possible with no possible path for renegotiation.
Meanwhile, German chancellor Angela Merkel immediately addressed the speculations that this might trigger other EU nations to leave.
“Britain has just cut its ties with that market. That’ll have consequences, and I don’t believe other countries will be encouraged to follow that dangerous path.” chancellor Merkel further said addressing Euroskeptics.
As the European Union loses Britain in the Brexit referendum, European Union Donald Tusk tried to restore confidence for the now 27-bloc union.
“Today, on behalf of the 27 leaders I can say that we are determined to keep our unity as 27,” the EU president reassured the whole world, Reuters reports.