On 20 February this year the British Prime Minister David Cameron announced that the referendum on the permanence of the UK in the European Union (EU) will be held on 23 June. “Leave Europe threaten our economy and our national security,” said the Prime Minister.
Surveys conducted at the beginning of the campaign, published by the Financial Times, shows a dead heat. 41% support remain in the EU and 41%, leave her. The remaining 18% undecided will be the goal of both campaigns.
Meanwhile, British companies are preparing additional funds, pre-written documentation and possible night guards attended by teams of consultants for the eventual victory of “Brexit” in the referendum in the UK on the permanence or not the country in the European Union. In the last week before the referendum of June 23, surveys were leaning toward favorable to departure from the UK EU vote, which triggered a flurry of last minute preparations jobs in British corporations.
Much of the work focuses on communication – how to assure customers, employees and investors that business continuity short term is guaranteed in the case of the victory of “Brexit” and Britain would have two years to negotiate leaving the bloc of 28 EU countries.
Until February, more than 75 percent of the companies in the FTSE 250 index companies had made no contingency plan for a possible exit from the EU, according to a study published in April by the Chartered Institute of Internal Auditors.
While big corporations generally support the permanence in the EU with the argument that unrestricted access to a market of 500 million consumers in Europe is good for business, a fall of sterling for the victory of “Brexit” improve ‘the competitiveness of British exports and could increase sales abroad, while the victory of stay in the EU would lead to a surge in the pound.
The risk that UK to leave the European Union and new signs that interest rates will remain low for a while were conjugated to surround uncertainty in the banking sector, hit by slow growth and expectations of capital increases in banks south of Europe.