EU referendum decisive for UK

As the push for Brexit gains momentum, the debate zeroes in on immigration and economy amid a tight race. Both the ‘Remain’ and ‘Leave’ camps have been criticised for misrepresenting facts in a campaign that has split the ruling Conservative Party and the people of UK.
Ahead of the June 23 vote, an average of the last six domestic opinion polls published by the WhatUKThinks website puts the ‘Remain’ camp slightly ahead at 51 percent and the ‘Leave’ campaign at 49 percent.
But against all odds, UK exports surged in April to their highest level in almost three years as Britain shipped more to countries both inside and outside the European Union. Sales to the EU — the destination for almost of half of British exports — rose 7.7 percent on the month. Shipments to non-EU nations surged 10.2 percent.
The trade deficit with Europe widened in the latest three months, boosting Brexit supporters who say other EU countries would be keen to offer favourable terms to Britain. By contrast, the deficit with non-EU countries narrowed by more than 2 billion pounds in the period.
Yet, the EU remains the biggest market for British exporters, which sell three times more to its member states than they do to the US.
The UK’s 10-year government bond yield dropped to a record before the nation’s referendum on European Union membership.
The pound fell 0.3 percent to $1.4454. It’s down 1.9 percent against the US currency this year.
Only days ahead of the big Vote, former Prime Ministers John Major and Tony Blair put their weight behind the ‘Remain’ camp warning of a constitutional crisis if Britain quits the EU.
In Northern Ireland, they reminded people there that the peace settlement which they negotiated will be under threat if Britain leaves the bloc. Sir John said there was a “serious risk” of another independence referendum and, if Scotland found itself out of the EU, he could “envisage a different result” to the one in 2014. Some Brexit supporters claim that Turkey will soon join the EU, giving its 80 million people the freedom to live and work in Britain. But Chancellor of the Exchequer George Osborne said the country would not be part of EU in his “lifetime”.
In fact, both sides exercise higher degree of scaremongering to canvass votes, especially from the undecided group who will be a major factor in determining the photo finish run.
The Brexit would hit financial services particularly hard. About 340,000 EU citizens work in the British finance sector, roughly 18 percent of the Europeans employed in the UK, according to data from the University of Oxford.
Deutsche Bank AG and HSBC Holdings Plc said would likely move some employees to the Continent in the event of a vote to quit the union. JPMorgan, the largest US bank, said it might move a quarter of its 16,000 British workers to Europe. It would be a bad news to the EU if the Brexit wins as many of Europeans polled are sceptical about the central powers of European Commission.
As dust is still to settle down, it would be a bit hard to see which side is credible. The results will only tell who and what are right for the UK. For that we will have to wait till June 23!