Possible Risks in Case of a #Brexit
June 22, 2016 | #Brexit, Risk, IT assets,IT security
Ahead of the crucial referendum on #Brexit, which will be held on Thursday June 23rd, Britain, including global market participants, remain edgy.
There is a growing curiosity over whether Britain will or will not choose to remain within the European Union, and more importantly, how would a #Brexit could affect the global economy.
While the proponents of #Brexit believe that it will create jobs in the domestic market, reduce the trade-deficit and provide more freedom in charting out international trade agreements, opponents say that leaving the EU will hurt Britain’s growth and prosperity.
Should the voters vote in favor of a #Brexit then the global economy could face some headwinds as it will give rise to uncertainties and risks.
To begin with, international organizations operating out of the Britain might feel the heat as the British pound risks getting devalued. The nation’s exports might also get hit as the EU, in a possible retaliatory action, might impose higher tariffs on Britain’s exports.
A shaky British economy will not be a good omen for international markets either as a likely recession in Britain will weaken the domestic demand.
What it shows that in a case of a #Brexit, financial markets, and organizations will remain vulnerable because it is impossible to safeguard against a systemic risk.
Organizations, however, can certainly take control of some risks; for instance, risks emanating from information systems. Indeed, amid rising digitalization of businesses, cybercrime is now a big threat to organizations. Companies, big or small, face constant threats not only from third-parties but also from malicious insiders. But with an effective IT security policy in place, which can ensure protecting Critical IT assets, including educating employees, organizations can definitely control risks linked to the cyberspace.
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