One of London’s leading shipping figures has said the UK’s decision to leave the European Union (EU) was short-sighted and taken for the wrong reasons, as UK Prime Minister David Cameron said he would quit.
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Guy Campbell, head of Swire Bulk in London and chairman of the Baltic Exchange, said he regretted the result of yesterday’s historic referendum which dramatically reverses the EU’s expansion.
Speaking in a personal capacity, Campbell said this is “a huge day for Great Britain but sadly for all the wrong reasons.
“I can't believe 17m people can be so short sighted.”
Global markets plunged this morning as results showed a near 52-48% split for leaving, on fears that the decision will hit investment in the world's fifth largest economy, threaten London's role as a global financial capital and cause uncertainty in the world's biggest trading bloc.
The pound suffered its biggest one-day fall in history, down more than 10% against the dollar to hit levels last seen in 1985, while the euro slumped more than 3 percent.
Cameron this morning said he would step down by October after failing to win the argument to remain in the EU.
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