The decision of the UK electorate to vote for exit from the European Union has led to volatility in the financial markets not seen since 1985. Sterling has plummeted to a 30-year low, and the FTSE 100 has dropped to 4.3%. Pension funds are running scared, at least one major bank has declared it will be moving staff out of London, and Standard and Poors has removed the UK’s triple A rating.
The financial markets were vicious in their reaction to the vote. Had the Bank of England’s (BoE) not promised £250 billion to guarantee liquidity, worried about the state of the interbank market, the fallout could have been worse.
The question is – how will this decision affect the telecommunications industry? Will this market volatility continue or is it just a knee-jerk reaction to an unexpected political event?
What should we be worrying about and are there any positive aspects to this historic vote? It is too early to analyse this at this short notice. However, Capacity and Global Telecoms Business have drawn up a short survey to gauge telco industry reactions to the decision.
Please take a few minutes to complete our survey and provide some details on what you think will be the main business issues Brexit raises for your business.
