AB - Brexit Vote Raises Economic and Political Stakes for EU

If the UK votes to leave the EU on June 23, investors will scramble to figure out what it really means. The near-term impact on the British economy is likely to be negative—although the magnitude is uncer- tain—and Brexit would surely come as a massive shock to global financial markets. Beyond that, though, it may be in the European political arena that the impact is most lasting and damaging.