New Video: ‘Brexit: Year in Review’ Chronicles Dramatic Period of Change for UK

Topics: Brexit, Corporate Legal, Government, Law Firm Profitability, Law Firms, Leadership, United Kingdom

Brexit

In Brexit: Year in Review, a new video created by Thomson Reuters, viewers are taken through the whirlwind revelations of the past 12 months since voters in the United Kingdom went to the polls in June 2016 and elected to leave the European Union.

Chronicling the aftermath of the surprising Brexit vote, the video describes what one UK market analyst called “Europe’s Lehman Brothers moment” as the British pound fell dramatically over market fears and an increasingly uncertain economic future for the country and the European continent as a whole.


Check out the new Brexit Infographic from Thomson Reuters UK & Ireland


The video also shows the rise of Theresa May, elected the new UK Prime Minister, as she triggered Article 50 — the official announcement of the UK’s intention to leave the EU — in March and how the country responded. Indeed, the video tells the story of the pervasive market fears that gripped much of the country as UK financial institutions fretted whether to develop their own Brexit contingency plans themselves or to leave London altogether.

Moving to the present time, the video relates how PM May did not back down from this pressure, calling it an “historic moment from which there can be no turning back.” In fact, she called for a special election in early June, hoping to increase her conservative, pro-Brexit party’s hold on power. Instead, her party — and in some degree the Brexit fervor itself — was dealt a striking blow, losing seats in Parliament and threatening May’s hold on the prime minister seat itself.

Now, as the UK must ready itself for negotiations with the European Commission on how best to leave the EU — in a so-called “soft” or “hard” Brexit — May’s government seems in disarray and may be looking to delay those talks.


 Click here for more information about Brexit from Thomson Reuters Legal UK & Ireland.