UK decision is the last drop of tea that overflows the EU cup - BBH

Research Team at BBH, suggests that many fear the UK decision is the last drop of tea that overflows the EU cup as the opposition parties in several European countries are advocating their own referendum.  

Key Quotes

“Are anti-EU forces a faction in the anti-globalization March?  Already, many insightful observers and investors are claiming the EU's demise is practically inevitable.  The rise of nationalism choked off the globalization that was emerging in early in the 20th century.  Will it do so again?   

The lasting impact of the UK's decision to leave the EU will be shaped by what happens now, after the vote.  The reaction by the EU and the terms of the divorce are critical, though likely to remain fluid for some time.  

This is not to deny that the UK vote was historic or that anti-elite and anti-globalization forces may still be in ascendancy.  However, the Spanish election results suggest that its victory is far from assured or inevitable.  There is nothing fated here, but rather Fate is what we make of it.

And there is no reason to accept the premise that because the Brits jumped off a bridge without knowing how high or what is below, others will necessarily jump off their own bridges.  Instead, as not only the Spanish elections but also the Australian elections later this week and the Japanese elections on July 10 may show the center is holding.”