The UK leaves the EU and David Cameron Will Resign

A referendum presented to the British public on whether or not to remain in the EU went the opposite of what David Cameron hoped. The UK is presently going through the legal process of living the European Union. This caused worry among investors and as a result the Dow Jones plummeted. The economic implications for the global market are uncertain. The fact is the global economy has not improved since 2008, with only modest gains in employment. Wages are stagnant and simultaneously Europe is enforcing fiscal austerity. All EU countries have to accept these measures as requirements to be members. Not only did economic policy influence the outcome, but it was also immigration policy. The EU still is dealing with the refugee crisis induced by NATO military action in Libya. Members of the EU try to get other countries to share the burden of taking refugees. There is an ideological battle being waged between globalism and the nation-state. It also is being exacerbated by left-wing and right-wing populist movements who object to the negative effects of globalization. Neo-liberalism, the reduction of national sovereignty, and the broad overreach of supranational organizations have induced a backlash. David Cameron claims that the UK "is stronger and better off " inside the European Union. The majority of the citizens disagree and are gradually understanding the limitations of a neo-liberal capitalist globalized economic system. This ushers in another contest between two opposing perspectives in European economic and political ideas.