As top transactional lawyers sought to calm nervous clients Friday after Britain's vote to leave the EU, several said that they were bracing for the possibility of a two-year drought in their most highly leveraged, profitable business: advising on cross-border M&A deals.
I was a young correspondent in London the year the euro launched in 2002. When I clinked a newly minted EU coin on the counter of a Fleet Street newsstand, the cultural dissonance was obvious even to me. A squib in the Daily Telegraph now seems prescient.
It’s getter tougher to defend the status quo.
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