Will Britain’s decision to leave the European Union in what is known as Brexit end up being the biggest case of buyer’s remorse ever?
Just hours after Brexit victory was declared, Brits flocked to the Internet to begin asking questions that they might have been better off asking before the historic vote that has far-reaching, global implications and ramifications that are already being felt as Brexit reverberates across the world. Thanks to Google trend data, British citizens’ confusion and concerns are being played out in real-time, told through the story of what voters are now typing into the search engines from the privacy of their own homes — after the referendum has been voted on and Brexit is a reality.
According to Google, “What is the EU?” and “What happens if we leave the EU?” top the list.
But, perhaps just as relevant as what questions are being asked is when the questions are being asked. As CNET reports, the first question above was the second most frequently asked question after the results were officially announced, and the latter saw a 250 percent increase after polls were closed.
— GoogleTrends (@GoogleTrends) June 24, 2016
And, as the financial markets opened and showed the devastating impact of Brexit as the British pound tumbled to all new historical lows, there was an increased interest in the United Kingdom’s currency.
The Wall Street Journal, in an article ominously titled Brexit Vote Wreaks Havoc in Market answered the question on what impact Brexit has had on the markets just today.
“Britain’s surprise vote to leave the European Union battered the British pound by more than 11%, sent global stocks tumbling and broke records in government-bond yields as the world’s financial markets braced for an uncertain future for the politics and economies of Europe.
“It was a historic drubbing for investors who had stacked up bets that the U.K. would choose to stay. British Prime Minister David Cameron, who had campaigned for Britain to remain in the EU, said Friday he would step down.
“Stocks in Asia, Europe and the U.S. fell sharply, along with oil prices, as investors sought safety in gold and government bonds. The Dow Jones Industrial Average dropped 465 points, or 2.6%, to 17543 in midday trade, while the S&P 500 index fell 2.7%, dragged lower by bank stocks.”
So, perhaps it’s not surprising that Google trend data shows an increased interest from the United Kingdom in possible emigration.
— John Brenan (@jwbrenan) June 24, 2016
Perhaps most shocking is the video of a man who wasn’t even aware that his vote to leave the European Union counted and now, in the aftermath of Brexit, as stocks tumble and British Prime Minister David Cameron resigns, admits that he is “quite worried” because he had no idea that Britain would actually exit the European Union via Brexit.
In the video, the man seems incredulous.
“I’m a bit shocked to be honest. I’m shocked that we actually have voted to Leave, I didn’t think that was going to happen.
“My vote, I didn’t think was going to matter too much because I thought we were just going to Remain, and the David Cameron resignation has blown me away to be honest.
“I think the period of uncertainty that we’re going to have for the next couple of months, that’s just been magnified now.
“So yeah, quite worried.”
Others are saying that those whom they know who voted “leave” in the Brexit referendum would have a different vote today, and it’s reported by the U.K. newspaper the Metro that a petition calling for a second European Union referendum has crashed due to its popularity. All petitions that garner 100,000 signatures must be taken up by British Parliament, and with over 80,000 signatures already, the petition is certain to reach that number.
Brexit may turn out to be a historical case of buyer’s remorse, once Brits finishing Googling to find out what, exactly, they were voting for — or, rather, against.
What do you think?
[Image via Shutterstock]