by Nina Hordila , Project Manager Charles Taylor & Co. Limited, London
As I woke up to the shocking news that the UK has voted to leave the EU my initial thought was WHAT???
Apart from the obvious trading implications, this move will cost Great Britain more than people might think.
I work in the financial sector and I am not looking forward to all the changes in legislation and the whole process surrounding it.
Even though I have lived in London since 2006 I kept my Romanian passport so I will still be an EU citizen but I am dreading the thought of all my British friends having to line up to the OUTSIDE EU queue every time they travel.
Many compatriots have emailed and texted me this morning asking me what will happen to us and to be quite honest I am not sure yet… no one knows but I think that it will have a greater impact on those who are not in the UK but want to come here.
I suppose will be more like it used to be, everyone will have to apply for a visa or a sponsorship.
Even though I understand how people of Britain might feel about the lack of control around immigration and their money, their economy will suffer in the short term.
For everyone saving to buy a house this is a great time, for those who just bought one it’s bad news.
It will take a couple of years for all the changes to materialise and I am positive that Britain will get economically stronger in the long term but today our trading floor looked pretty grim and for everyone in investment banking it’s a black day.
Romanians who work here and send money home will be badly affected in the short term as the British Sterling has deteriorated significantly against the Euro but as I said before, the long term Great Britain will be a good place to live and I have no doubt that London will always be a very important financial capital.
More than 36.7% of London’s population was foreign born so it is no surprise that London’s majority has voted remain but it wasn’t enough and with each vote carrying the same weight, the northern regions of the UK had their say.
The world is changing and all we can do is adapt.