Is Britain becoming an Emerging Market?

Amid economic uncertainty and a sharply declining pound following Brexit, Pedro Nicolaci Da Costa write in Foreign Policy that Britain is in danger of becoming an emerging market.

The pound reached an 168-year low this weak against a benchmark of other major currencies.

Recent reports have highlighted the exorbitance of the costs involved in Brexit, with the cost of the process alone at $22 billion.

Da Costa outlines the underlying feelings of xenophobia behind the vote to leave the European Union, and the dangers they pose to the city of London - a place valued for its diversity and as a major employer.

Should Britain leave the European Union single market, it is uncertain where the major banks that are headquartered in London will go.

EmergingMarketBanking

Read more at Foreign Policy.