By NZE NWABUEZE AKABOGU

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The much debated referendum on the future of the United Kingdom in the European Union has come and gone with the British people voting decisively to leave the 28-member Union. The momentous decision of the British people to exit the EU sent shock waves around the globe, with far-reaching implications in the global financial system.
In the early hours of Friday June 24, 2016, when the results of the referendum were being collated, it became clear that the Brexit, or “out” of E.U. campaigners had ,indeed, recorded a resounding victory over the proponents of continued membership of Britain in the European Union (E.U). At the close of counting of votes, the anti-E.U or Brexit Campaigners had garnered 17million plus votes, representing about 52%, while the pro or “in” E.U Campaigners received 16 million plus votes, representing about 48%. The referendum recorded a total voter turnout of a little over 33 million,   out of about 46 million registered British voters.
The political scenario leading up to the historic referendum was that of great suspense and uncertainty among British voters. The voting process itself was almost marred by torrential rainfall, which resulted in the late opening of polling stations across Great Britain. Many polling stations were terribly flooded which made it extremely difficult for voters to cast their votes early enough during the stipulated voting hours that lasted up to 10pm on Thursday night.
The immediate fallout of the referendum, however, is the unexpected decision of the embattled British Prime Minister, David Cameron, who had led the pro E.U Campaigners to their shocking defeat and disaster, to announce his resignation with effect from October 2016. David Cameron’s resignation signalled the beginning of an intense succession battle within his conservative party, which was completely torn apart during the highly divisive and acrimonious debates that led up to the referendum. It is expected, therefore, that in the days and weeks ahead, some senior members of Cameron’s cabinet, notably the Chancellor of the Exchequer or Finance Minister, George Osborn, as well as the Foreign Secretary, Philip Hammond, among others who had pitched their tents with the outgoing Prime Minister David Cameron during the fierce and heated campaigns, will also follow the footsteps of Cameron and resign their positions in government, in accordance with the age long British tradition of collective responsibility.
It is worthy of note, however, that in spite of David Cameron’s  serious warnings against the catastrophic consequences that Britain would suffer in the event of her exit from the E.U, the British people decided to take a plunge into what Cameron himself had earlier described as “a leap into darkness” or, simply put, from the known to the unknown. Some world leaders, including certain heads of global financial institutions such as the World Bank and I.M.F, also warned against the exit.
The pro or “remain” in E.U proponents are presently licking their deep wounds after their crushing defeat. Some political commentators were quick to conclude that David Cameron and his colleagues at the Westminster (Parliament) had suffered from their shortsightedness that resulted in their self-inflicted defeat and political disaster when they called for the referendum on E.U. The commentators further argued that David Cameron and his team had grossly underestimated the scale of distrust, anger and frustration of the British people with the European Union’s bureaucracy at Brussels. The political analysts also maintained that Cameron and his colleagues had gambled or unwittingly put their political careers on the line when they embarked on the referendum that has now swept them out of power.
The referendum has come and gone, leaving in its trail many unanswered questions and uncertainties on the future of Great Britain and her potential role in global politics.  Furthermore, the outcome of the referendum has thrown up new challenges within the United Kingdom itself as the people of Scotland, who voted massively for Britain to remain in E.U, have already signalled their intention, through the first Minister of Scotland, to hold another referendum on Scotland’s independence from Britain. The Scottish Minister had argued that independence for Scotland would enable the Scottish people to remain ultimately in the European Union (E.U) since the Scottish people had clearly and unequivocally expressed their collective wish during the Brexit referendum.
It is instructive to observe in this piece also that mixed reactions are equally trailing the unexpected outcome of the referendum. While the anti or Brexit Campaigners were savouring the resounding victory of their so-called “independence” from the E.U, the Pro E.U Campaigners maintained that the outcome was an unmitigated disaster for Great Britain. They equally argued that Britain had unwittingly shot herself in the foot by voting to exit the European Union and thereby effectively isolating herself from  mainstream European politics, and by so doing, also lost her enormous influence in global politics. The Pro E.U proponents had also maintained that it would sooner rather than later dawn on Britain the incalculable harm and unimaginable destruction the Brexit vote had caused British economy and her people.
Nevertheless, only time will tell whether David Cameron and his fellow E.U proponents would be vindicated when eventually the chips are down and Britain starts to reap positively or negatively the fruits of her momentous decision to opt out of the European Union.
*Akabogu writes from Enugwu-Ukwu, Anambra State, via [email protected]