As global financial markets convulse in response to British citizens voting to leave the European Union, the stunning outcome of the U.K.’s referendum provides more questions than answers. As discussed on Monday, the heightened uncertainty, fueled by sudden institutional instability now compounding long-standing economic fragility and financial fluidity, is likely to cause an unprecedented mix of political turmoil, financial volatility and economic damage in the weeks ahead. It also leaves us with seven lessons whose implications extend well beyond Britain.
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