(Image source: http://www.publicdomainpictures.net/, Petr Kratochvil)
What is Brexit? Brexit refers to Britain leaving the European Union (EU). There's a referendum scheduled this Thursday being held on whether the British should remain in the EU, but before leaving the EU, they would need to give at least 2 years notice of their intention to leave (unless a shorter period is negotiated), so a Brexit before 2018 is unlikely. And while the results of the referendum are not legally binding, going against the clear intention of voters is probably not the best option in a democratic country. How would this affect us? One thought is probably that this is a British-European affair so it's impact on us ......Recently there's been quite a lot of talk about Brexit in the financial markets and its impact on the markets. So, what really is Brexit and what is its impact on us here in Singapore?