Brexit referendum: What is Britain putting on the line in this vote?

All eyes are on the United Kingdom (UK) ahead of their Brexit referendum on Thursday, to either stay or leave the European Union (EU).

With South Africa's close relations to this world economic powerhouse, the decision would affect South Africa's economy. And undoubtedly global financial markets will also react to the decision.

702/Cape Talk's Redi Tlhabi spoke to Professor Danny Bradlow from the University of Pretoria's Law faculty, to make sense of the implications of the impending vote.

In his analysis, Bradlow notes that whichever way the vote goes, it will have an effect on South Africa. A vote to remain in the group will still impact South Africa, as the decision to stay comes with conditions set by Prime Minister David Cameron.

Listen to the conversation below:

The UK is an important trading and investment partner for South Africa. The EU is our most important trading partner and what happens in the elections will affect the EU as much as it affects Britain as well.

Prof Danny Bradlow, University of Pretoria

If the vote is to leave, it will have an effect on financial markets, it will cause a lot of uncertainty, it will affect money flowing in and out of South Africa, and an effect on trade relations.

Prof Danny Bradlow, University of Pretoria

More than 200 South African companies have a presence in the UK. South Africa is also Britain's largest trading partner in Africa.

Whatever the outcome is, the British Parliament has to take an action to notify the EU that Britain wants to withdraw. Under the treaty, that process would take six months or longer to negotiate the withdrawal.

Prof Danny Bradlow, University of Pretoria

You can make the argument that David Cameron is being highly irresponsible to make a referendum on such an important issue with not really having a debate about the EU.

Prof Danny Bradlow, University of Pretoria

This article first appeared on 702 : Brexit referendum: What is Britain putting on the line in this vote?


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