WHY IS THIS VOTE HAPPENING?
British Prime Minister David Cameron promised to hold a referendum on the issue as part of his 2015 re-election campaign. Cameron complained that the bloc has evolved gradually into a powerful bureaucracy that infringes on British sovereignty and its national interests on issues such as trade, immigration, financial and labor regulation and social spending.
Cameron recently won concessions from the EU to give Britain more say over these issues and he now favors continued membership in the bloc. However, many members of his Conservative Party oppose his position and are campaigning for a Brexit. The anti-immigration, anti-EU UK Independence Party, which has gained support because of a backlash against Muslim migrants entering Britain, also is campaigning for a Brexit.
Ex VC Aluko,It is embarrassingly simplistic of you to interpret the Brexit outcome to solely anti-immigration; don't join the palpably ill-educated sociopath, Ozodiobi Osujiagbara, in his shameful journey to simpleton-vile with this type of disgraceful reductionism. If anti immigration played any role in the outcome, it must be below 5%, for immigration is not as much a problem in the UK as it is in other EU states.Injustice and overreaching are the main reasons for the outcome of this vote. Whenever and wherever people are not treated justly or are forced to adopt to a way of life that is not fitting to their choice, the type of resentment witnessed through the outcome of the Brexit vote is bound to exist. Most UK citizens polled, long before the vote, were not welcoming of the EU to the extent that they foresee it as becoming another US -- a single nation-state, which was not what their ancestors had in mind when they devised the EU's predecessor (the US was not originally designed to be this one single nation state, the US federal government was supposed to be a figure head -- a mere powerless arbitrator whose role was advisory -- but over the years, it has morphed into this powerhouse that now dictates to the states, which actually created it and from which it originally took instructions and funding). That type of overreaching is vexatious amongst all peoples.Should a similar referendum be held in the US, as to the continuation of the US in its present status, most states, especially Texas, South Caroline, Alabama, Utah, etc, will definitely vote to exit the US. Should the same referendum be held in Nigeria, 90% of Igbo people will vote to exit Nigeria as presently constituted (they will vote for a confederation), 90% of Ijo will vote to severe total association with Nigeria, Yoroba will straddle and possibly vote 25% to a confused state of mind and 75% to whatever Awusa designed.The point to the above is that people's wishes and desires, as to how to associate with others, are not always out of hatred for the others (like anti-immigration as you claimed) but always about the freedom to make that decision. The white man has evolved better than the black man, so whenever he sees this type of resistance or resentment over the manner of association desired by the people, the sentiment is subjected to a vote and the outcome is abided by all. This is something that Nigerian and other African leaders are too dumb to reprise for peace to reign in the continent (there can't be such a referendum in the US because the US Supreme Court has declared that the Civil War's outcome means that the existence of the US can never be subjected to dissolution -- the Union is permanent). The Union being permanent once a country joined it was what the UK citizens who voted against EU membership were afraid of, not immigration.Ex-VC Aluko, since you began to live in Otueke, and up to now, I have noticed that you often imbibe in the anti intellectualism that has made Nigeria a failed state. That anti intellectualism was begun in 1967, when sound intellectuals like one professor Sam Aluko, Obafemi Awolowo, Bola Ige, Rotimi Williams, et al, joined their intellectual inferiors to perpetuate mediocrity upon Nigeria. I am disappointed that you are now repeating this trend that has led Nigeria to failure. You do that when you regurgitate the childish, idiotic, and shamefully simplistic rant of the depraved Ozodiobi Osujiagbara. I suggest that you stopped doing that, else you would lose your intellectual mojo.Brexit is the same thing that Nigerians are clamoring for and to which the dishonest and oppressive clique that governs the country is too stupid to respect. Let us give kudos to the leaders of the UK for hearkening to the calls of their led, unlike their dumb Nigerian counterparts who are forcing people to live together and through such force, perpetuate injustice and violation of peoples' right. If president Buhari does not get it right, and pointers so far are that he will not get it right, Nigerians must vote to decide how they wish to relate to other Nigerians. President Buhari wants one Nigeria but relishes treating Nigerians differently; that is vexatious to the point of instigating military insurrection that is capable of another civil war. Please bear the above in mind the next time you want to go simplistic on us.Nebukadineze Adiele
Reject Religion; Relive Reason!In a message dated 6/24/2016 3:04:37 P.M. Eastern Daylight Time, alukome@gmail.com writes:My People:The Brexit vote was essentially an anti-immigration vote - and there are a lot of Nigerian/Commonwealth immigrants in the UK. How much the "You are not welcome" vote translates into social and economic unwelcome atmosphere remains to be seen.All-in-all, it was a four-month Cameron-gamble that failed, and now a disunited United Kingdom will have to fail the consequences.Bolaji Aluko_______________________________________________________________________________________________________________Brexit portends negative consequences for Nigeria – Prof. Akinterinwa
Abuja – Britain's decision to leave the European Union (EU) will have negative consequences on Nigeria, Prof. Bola Akinterinwa, Director-General, Nigerian Institute of International Affairs (NIIA), has said.
Akinterinwa, a professor of international affairs, on Friday siad that the negative impact of Britain's exit from the union would be bilaterally and multilaterally.
According to him, it is at the level of multilateral configuration that Nigeria may be slightly affected.
"Britain is a member of the EU and Nigeria is a member of Commonwealth and in this case, Britain is both an active member of the EU and Commonwealth.
"Nigeria has been benefitting from the free trade tariff access of the British to the EU; now with the Brexit (Britain Exit), that one (free trade tariff access) may become a little bit difficult for Nigeria," he said.
Akinterinwa said that Nigeria's economic relationship with the EU might also be affected with the development, explaining that it would jeopardise Economic Partnership Agreement (EPA) with the EU.
"With the withdrawal of the British from the EU, now the EPA will no longer apply to Nigeria within the framework of Nigeria's bilateral relationship with the British," he said.
Politically, he stated that a weakened Europe would also affect Nigeria in terms of aid donation to the country."Politically, Brexit can bring about a weakened economy of Europe; it will be weakened in various respects because Britain accounts for about 15 per cent of EU's operational budget.
"This will create more burdens for countries like France and Germany, the two main countries carrying the financial burden of other member-states."With that relationship with the European Union, the other members will also be weakened.
"When it comes to insolvency, the amount of money given to Nigeria either as development grant or whatsoever, cannot but be reduced. So, these are some of the implications," he said.
Akinterinwa added that Brexit could also affect Nigeria's and ECOWAS' relationship with the EU.
According to him, since Britain is not part of the Schengen Visa Regime, anyone going to Britain must apply for visa directly for Britain."Since the purpose for withdrawing from the EU is to emphasise British sovereignty, the British will now be in a better position to deal with international migrants in its context.
"There are three million migrants in the UK, while we talk about 1.2 million Britons living in the other parts of Europe."In this case, the issue of migration becomes an important matter on the strategic calculations of the government.
"It means that the immigrants are likely to cut a rough deal; they are not likely to be given the type of accommodation they currently have.
"The UK border will now be in a better position to control the inflow and outflow of tourists to the UK," he explained.Akinterinwa, however, said that with the Brexit already hurting the Pound Sterling and the Euro, it was positive for Nigeria.
"With the Brexit, the Pound Sterling has fallen as against the U.S. Dollar; the Euro too has also fallen.
"Investors, immediately, for fear of the unknown began to move their investments thinking of relocation and that immediately affected the value of the Pound and it began to fall.
"So, the parity of the Naira to the Pound Sterling, if the Pound Sterling is falling, is good for Nigeria; it is a welcome development at that level," he said.
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________________________________________________________BBCUK exits the EU by 52% to 48% of votes, Pound Sterling falls in forex market
The UK has voted by 52% to 48% to leave the European Union after 43 years in an historic referendum.
London and Scotland voted strongly to stay in the EU but the remain vote has been undermined by poor results in the north of England.
UKIP leader Nigel Farage hailed the result as the UK's "independence day".
The pound fell to its lowest level against the dollar since 1985 as the markets reacted to the results.
The referendum turnout was 71.8% – with more than 30 million people voting – the highest turnout at a UK election since 1992.
Wales and the majority of England outside London voted in large numbers for Brexit.
Labour's Shadow chancellor John McDonnell said the Bank of England may have to intervene to shore up the pound, which lost 3% within moments of the first result showing a strong result for Leave in Sunderland and fell as much as 6.5% against the euro.
UKIP leader Nigel Farage – who has campaigned for the past 20 years for Britain to leave the EU – told cheering supporters "this will be a victory for ordinary people, for decent people".
Mr Farage – who predicted a Remain win at the start of the night after polls suggested that would happen – said Thursday 23 June would "go down in history as our independence day".
He called on Prime Minister David Cameron, who called the referendum but campaigned passionately for a Remain vote, to quit "immediately".
A Labour source said: "If we vote to leave, Cameron should seriously consider his position."
But pro-Leave Conservatives including Boris Johnson and Michael Gove have signed a letter to Mr Cameron urging him to stay on whatever the result.
Labour former Europe Minister Keith Vaz told the BBC the British people had voted with their "emotions" and rejected the advice of experts who had warned about the economic impact of leaving the EU.
He said the EU should call an emergency summit to deal with the aftermath of the vote, which he described as "catastrophic for our country, for the rest of Europe and for the rest of the world".
Germany's foreign minister Frank Walter Steinmeier describes the referendum result as as "a sad day for Europe and Great Britain".
But Leave supporting Tory MP Liam Fox said voters had shown great "courage" by deciding to "change the course of history" for the UK and, he hoped, the rest of Europe.
And he called for a "period of calm, a period of reflection, to let it all sink in and to work through what the actual technicalities are," insisting that Mr Cameron must stay on as PM.
Exit process
Scotland's First Minister Nicola Sturgeon has said that the EU vote "makes clear that the people of Scotland see their future as part of the European Union" after all 32 local authority areas returned majorities for Remain. BBC
_______________________________________________________________The full text of the statement delivered by Prime Minister David Cameron after British voters in a referendum elected to leave the European Union:The country has just taken part in a giant democratic exercise — perhaps the biggest in our history. Over 33 million people — from England, Scotland, Wales, Northern Ireland and Gibraltar — have all had their say.We should be proud of the fact that in these islands we trust the people with these big decisions.We not only have a parliamentary democracy, but on questions about the arrangements for how we are governed, there are times when it is right to ask the people themselves, and that is what we have done.The British people have voted to leave the European Union, and their will must be respected.I want to thank everyone who took part in the campaign on my side of the argument, including all those who put aside party differences to speak in what they believed was the national interest.And let me congratulate all those who took part in the "Leave" campaign — for the spirited and passionate case that they made.The will of the British people is an instruction that must be delivered. It was not a decision that was taken lightly, not least because so many things were said by so many different organizations about the significance of this decision.So there can be no doubt about the result.Across the world people have been watching the choice that Britain has made. I would reassure those markets and investors that Britain's economy is fundamentally strong.And I would also reassure Brits living in European countries, and European citizens living here, that there will be no immediate changes in your circumstances. There will be no initial change in the way our people can travel, in the way our goods can move or the way our services can be sold.We must now prepare for a negotiation with the European Union. This will need to involve the full engagement of the Scottish, Welsh and Northern Ireland governments to ensure that the interests of all parts of our United Kingdom are protected and advanced.But above all this will require strong, determined and committed leadership.I am very proud and very honored to have been prime minister of this country for six years.I believe we have made great steps, with more people in work than ever before in our history, with reforms to welfare and education, increasing people's life chances, building a bigger and stronger society, keeping our promises to the poorest people in the world, and enabling those who love each other to get married whatever their sexuality.But above all restoring Britain's economic strength, and I am grateful to everyone who has helped to make that happen.I have also always believed that we have to confront big decisions — not duck them.That's why we delivered the first coalition government in 70 years to bring our economy back from the brink. It's why we delivered a fair, legal and decisive referendum in Scotland. And why I made the pledge to renegotiate Britain's position in the European Union and hold a referendum on our membership, and have carried those things out.I fought this campaign in the only way I know how — which is to say directly and passionately what I think and feel — head, heart and soul.I held nothing back.I was absolutely clear about my belief that Britain is stronger, safer and better off inside the European Union, and I made clear the referendum was about this and this alone — not the future of any single politician, including myself.But the British people have made a very clear decision to take a different path, and as such I think the country requires fresh leadership to take it in this direction.I will do everything I can as prime minister to steady the ship over the coming weeks and months, but I do not think it would be right for me to try to be the captain that steers our country to its next destination.This is not a decision I have taken lightly, but I do believe it is in the national interest to have a period of stability and then the new leadership required.There is no need for a precise timetable today, but in my view we should aim to have a new prime minister in place by the start of the Conservative Party conference in October.Delivering stability will be important, and I will continue in post as prime minister with my cabinet for the next three months. The cabinet will meet on Monday.The governor of the Bank of England is making a statement about the steps that the bank and the Treasury are taking to reassure financial markets. We will also continue taking forward the important legislation that we set before Parliament in the Queen's Speech. And I have spoken to Her Majesty, the Queen, this morning to advise her of the steps that I am taking.A negotiation with the European Union will need to begin under a new prime minister, and I think it is right that this new prime minister takes the decision about when to trigger Article 50 and start the formal and legal process of leaving the E.U.I will attend the European Council next week to explain the decision the British people have taken and my own decision.The British people have made a choice. That not only needs to be respected — but those on the losing side of the argument, myself included, should help to make it work.Britain is a special country.We have so many great advantages.A parliamentary democracy where we resolve great issues about our future through peaceful debate.A great trading nation, with our science and arts, our engineering and our creativity respected the world over.And while we are not perfect, I do believe we can be a model of a multiracial, multifaith democracy, where people can come and make a contribution and rise to the very highest that their talent allows.Although leaving Europe was not the path I recommended, I am the first to praise our incredible strengths.I have said before that Britain can survive outside the European Union, and indeed that we could find a way.Now the decision has been made to leave, we need to find the best way.And I will do everything I can to help.I love this country — and I feel honored to have served it.And I will do everything I can in future to help this great country succeed._______________________________________________________________
LONDON, June 24 (Reuters) - Bank of England Governor Mark Carney made a statement after voters decided in a referendum that Britain should leave the European Union.
Here is his full statement:
The people of the United Kingdom have voted to leave the European Union.
Inevitably, there will be a period of uncertainty and adjustment following this result.
There will be no initial change in the way our people can travel, in the way our goods can move or the way our services can be sold.
And it will take some time for the United Kingdom to establish new relationships with Europe and the rest of the world.
Some market and economic volatility can be expected as this process unfolds.
But we are well prepared for this. The Treasury and the Bank of England have engaged in extensive contingency planning and the Chancellor and I have been in close contact, including through the night and this morning.
The Bank will not hesitate to take additional measures as required as those markets adjust and the UK economy moves forward.
These adjustments will be supported by a resilient UK financial system - one that the Bank of England has consistently strengthened over the last seven years.
The capital requirements of our largest banks are now ten times higher than before the crisis.
The Bank of England has stress tested them against scenarios more severe than the country currently faces.
As a result of these actions, UK banks have raised over 130 billion pounds of capital, and now have more than 600 billion pounds of high quality liquid assets.
Why does this matter?
This substantial capital and huge liquidity gives banks the flexibility they need to continue to lend to UK businesses and households, even during challenging times.
Moreover, as a backstop, and to support the functioning of markets, the Bank of England stands ready to provide more than 250 billion of additional funds through its normal facilities.
The Bank of England is also able to provide substantial liquidity in foreign currency, if required.
We expect institutions to draw on this funding if and when appropriate, just as we expect them to draw on their own resources as needed in order to provide credit, to support markets and to supply other financial services to the real economy.
In the coming weeks, the Bank will assess economic conditions and will consider any additional policy responses.
A few months ago, the Bank judged that the risks around the referendum were the most significant, near-term domestic risks to financial stability.
To mitigate them, the Bank of England has put in place extensive contingency plans.
These begin with ensuring that the core of our financial system is well-capitalised, liquid and strong. This resilience is backed up by the Bank of England's liquidity facilities in sterling and foreign currencies.
All these resources will support orderly market functioning in the face of any short-term volatility.
The Bank will continue to consult and cooperate with all relevant domestic and international authorities to ensure that the UK financial system can absorb any stresses and can concentrate on serving the real economy.
That economy will adjust to new trading relationships that will be put in place over time. It (Other OTC: ITGL - news) is these public and private decisions that will determine the UK's long-term economic prospects.
The best contribution of the Bank of England to this process is to continue to pursue relentlessly our responsibilities for monetary and financial stability. These are unchanged.
We have taken all the necessary steps to prepare for today's events.
In the future we will not hesitate to take any additional measures required to meet our responsibilities as the United Kingdom moves forward. (Reporting by Estelle Shirbon)
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