The most immediate risk to global markets is Britain leaving the EU, warned Bank of England Governor Mark Carney before the EU referendum.
The pound has fallen to levels not seen since 1985 and steps are being taken to calm the economic turmoil.
There is some uncertainty over what will happen now Britain has chose to leave the EU as new trade agreements with the rest of the world will have to be made.
But supporters of Brexit argue that EU countries have every incentive keep trading with the UK, which is a large importer of goods and services.
Europhiles are concerned that foreign companies would be less likely to invest here and could move their headquarters elsewhere if Britain loses access to the single market.
Ahead of the referendum investor Neil Woodford, founder of Woodford Investment Management, described pro-European claims that the economy would be damaged as “bogus”.
Mr Woodford said: “I think it’s a nil-sum game frankly, whether we stay or whether we leave.”
Nigel Farage has said the vote is good news for exporters who have struggled with the high value of the pound.
Now Britain has voted to leave the EU, it will no longer have to contribute billions of pounds a year towards the European Union’s budget.
In March Brexit campaigners slammed a Confederation of British Industry (CBI) report that claimed that leaving the EU would cause a £100billion “shock” to the UK economy.
The Treasury was accused of “doom and gloom” after predicting that a Brexit would cost households £4,300 a year by 3030, leaving Britain worse off for decades.
Anti-EU campaigners have rubbished claims that it would push up the cost of the weekly shop, imported goods and travel.
There are also concerns about what would happen to Britain’s expats living in Europe and foreign footballers playing in the UK if Britain quits the EU.
But Eurosceptics argue that the referendum was a historic opportunity to take back control of Britain’s borders in order to curb immigration.