Will Brexit lead to global recession in short-term?

John Browne, former Member of U.K. Parliament, on the online petition calling for a second referendum in Britain and the impact of Brexit on the U.K. and EU economy.

Can There Be a Second Brexit Referendum?

By Business Leaders

Following Thursday’s EU referendum vote, an online petition calling for a do-over vote received more than 3 million signatures. When a petition gets 100,000 signatures it must be debated in Parliament, but according to former member of U.K. Parliament John Browne, a second vote would be “almost impossible.”

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“Socialists always have a problem with losing gracefully, they always want reruns and [to] change rules and here they are doing it again. You would never have a Kentucky Derby winner if there [were] reruns all the time, and no shares would reflect real prices if everyone with a losing trade was allowed to void their trade,” he said on the FOX Business Network’s Mornings with Maria.

He added, “first of all, it never happens on a referendum in Britain. Secondly, Cameron knows that his party, the majority of his party was pro-Brexit and therefore if he even looked like he was agreeing with the rerun he would lose, over half his voters would flood to Ukip and the conservatives would certainly lose the next election.”

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As far as the future of Britain’s economy, Browne says expect it to flourish.

“Freedom and enterprise will lead Britain to flourish as it did under the blessed Margaret Thatcher…There’s no EU trade agreement with the United States, China or Japan. Britain will be free to trade with the rest of the world on its own terms instead of these heavily secluded terms of the EU negotiations that heavily favor Germany and France,” he said.

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