I had hoped for a different outcome of the referendum and I believe the result will hurt both Britain and the EU. Then again, the world will not end for either of them. Britain will not go down in flames and the EU will not fall apart.
Here is what I think will happen:
[li]London *will *invoke Article 50. At this point this is only a question of when, not if. Any attempt to backpedal now would be political suicide, and no none is going to do it.[/li][li]Scotland will ask for and get another referendum to leave the UK. It is a very real possibility that they will leave this time - but it is by no means a done deal.[/li][li]The EU will declare their awareness of the need to reform, but the 27 remaining member states will have a hard time agreeing on actual reforms. Nothing much will change. Possibly a subset of EU members will agree to take integration further without waiting for the rest.[/li][li]The British economy will see a dip. It is not going to be disastrous but noticeable. As always the people who are going to feel it most are the ones in the lower income bracket.[/li][li]Britain will attempt to establish trade agreements with the EU in order to soften the blow on their economy. Ironically this will mean that the majority of the much reviled EU-regulations will remain applicable to Britain.[/li][li]England will not win the Euro 2016 championship. (Not making any predictions for Wales.)[/li][/ul]
I feel bad for the younger generation of Britons who saw their future within the EU and who have now been kicked out by their grandparents. Then again this goes to show once more that if you have the good fortune of living in a democracy you should get off your ass and bloody vote.