Theresa May to trigger article 50 on 29 March

[Denzil_DC]

12. "Third World" is an oldfashioned term, and was usually geographically specific

to Africa, Asia, Oceania and Latin America, or indicated countries not aligned with NATO or the old Soviet Bloc.

But ...

Britain Is Becoming an Emerging Market

Breaking up is hard to do — especially after a 43-year marriage. Which is why the notion that the United Kingdom might engineer a “soft Brexit” from the European Union, the innocent hope of many investors and some Brits, was always a delusion. Instead, Britain’s plunging pound, which has swooned to a staggering 168-year low against a benchmark of other major currencies, is just a taste of the economic deterioration to come.

Instead of the pro-Brexit camp’s promise that the vote was a push for independence from European red tape, the drive for sovereignty has turned into a quixotic exercise in isolationism that shows few signs of ending well. In effect, the United Kingdom has abdicated its chief source of economic and political clout — its close association with the European Union, the world’s largest economy. In so doing, Britain may be on the way to looking more like an emerging market, where suddenly political risk, currency volatility, and uncertainty about the future are the new normal. And if you’re thinking that long-term investment and private spending might suffer as a result, you’re bloody well right.

http://foreignpolicy.com/2016/10/17/britain-is-becoming-an-emerging-market-brexit-europe-united-kingdom-article-50-currency/