Is the real risk to the UK Brexit?

A bumper filled month of uncertain events plus heightened fear of a Brexit leading up to the anticipated referendum vote in the UK in deciding whether to remain or leave the Eurozone all weighed down heavily on global markets at the opening of the weeks trade sending a strong signal that the volatility storm that gripped markets earlier in the year could be heading back into the fray.

Admittedly I haven't spent much time passing my thoughts on the possibility of a Brexit due to the unlikely nature of it happening, although that's what I thought. The British media are infamous for its sensationalist journalism in a bid to stir up the emotion of the public with outlandish tabloid headlines aimed at unraveling, discrediting and demoralising the person under siege.

One needs not be reminded of the shocking revelations that came to light when police investigated the now defunct News of the World and found brazenly unethical practices used by journalists to get a story which funny enough proved to be largely negative press for Prime Minister David Cameron whose links to editor Rebekah Brooks drew sharp criticism of his close associates.

Revealing the inner workings of the British media may have led to the demise of one of Britain's most read newspaper it didn't stop the many that escaped the spotlight and continue to operate in their provocative ways.

Surely this sets the tone for fear mongering polls suggesting a larger than expectant possibility of a Brexit  and thus fuelling the flames of uncertainty. The outcome is markets have fallen prey to the mischievous ways of the British press at a time when the vulnerability of the global economic outlook is far from its best.

Is a Brexit possible?

If you based your opinion on polls then maybe yes however if you drew attention to news items that matter most such as the recent local elections that failed to move the dial of fear or the resounding pleas of support for the "Remain" camp from world leaders including US president Barack Obama, German Chancellor Angela Merkel, Fed president Janet Yellen and many more all culminating into a conclusive view that a vote to leave would unhinge the progress made in the UK economy in recent years, then it would seem as if the choice to exit the agreement with the EU may be unfounded and unwise.

Britain's decision to remain, which I still believe to be the likely outcome, will go down to as the biggest shortsightedness of risk in present times with the focal point far off from the real risks, the perpetual economic and debt crisis that evolves in Europe.      

Pound tumbles on Brexit fears as speculators double down on drop https://t.co/YZDus2eXC2 via @anoojad @NettyIsmail pic.twitter.com/OfzYzG6x3U

— Bloomberg Markets (@markets) June 13, 2016