On the 23th June, United Kingdom, underwent a referendum by which 52% of British citizens voted for the “Brexit option, i.e., to withdraw from the European Union. However, the United Kingdom must follow the procedure set in article 50 of the Lisbon Treaty, which sets a term of two years to negotiate the exit of a member from the European Union to formalize its exit, reason why said withdrawal does not occur automatically.
On the days following the victory of Brexit, the First Minister, David Cameron, announced his resignation from office; and the local its currency the pound Sterling, as well as the Euro suffered strong depreciations.
Although the Brexit has generated a worldwide uncertainty scenario, given that the commercial relations between Latin America and the British nation are limited, for Latin America the implications seem to be less severe than for countries having greater commercial relations with the United Kingdom.
In this sense, the consequences of Brexit for Latin America would be:
Image: David Dibert – Unsplash
Uruguay and Chile sign an Agreement to avoid double taxation and tax evasion Uruguay and Chile agreed this past January to enter into an agreemen...Read More
Uruguay: Towards the automatic information exchange In June 2014, the OCED (Organization for Cooperation and Economic Development) approved the t...Read More
Copyright © Investa Trust. All Rights Reserved