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Does UK stay part of the EU? - BBH

FXStreet (Guatemala) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman notes the conditions surrounding recent political events in the UK.

Key Quotes:

"There had been some concerns that a small victory for the unionists would spur concerns that this will be a recurring issue as some drew parallels with the Quebec experience. While we recognize this as a possibility, we suggest this is not an immediate issue."

"The victory appears to be solid, and the terms of the referendum were as favorable for the nationalists as could be imagined (16-year old voters, non-residents can't vote and a simple majority was needed)".

"The main political issue now is not whether Scotland stays in the UK, but whether the UK stays part of the EU. Cameron faces a backbencher revolt over the issue and a UKIP that enjoys some momentum."

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