Five days after the UK voted to leave the European Union, Britons are waking up to find their country engulfed in deep uncertainty. In the midst of this unprecedented and unpredictable political maelstrom, global stock markets have shed a record $3 trillion.
Citing a "seminal event", ratings agency Standard and Poors has stripped Britain of its triple A sovereign status and downgraded it by two notches to double A. The move came a few days after Moody's downgraded its UK outlook from stable to "negative".
After claiming the scalp of it's prime minister David Cameron, the move has left an acrimonious power battle at the top, with Boris Johnson, one of Britains most charismatic politicians and leading Brexiters emerging as the clear favorite.
Over the weekend, he began courting his allies for a leadership bid, whilst his enemies rallied to find a suitable "ABB" candidate: Anybody but Boris. The Home Secretary Theresa May may also throw her hat in the ring, but can a pro European figure realistically take the helm after a decisive Leave vote? Cameron's successor will be named by the second of September.
Meanwhile, other politicians are already hatching a plan to fightback, with pro European figures refusing to"roll over and give up." One MP tweeted that the country can "stop this madness through a vote in Parliament."
A petition calling on politicians to overturn Brexit has already notched up over 3 million signatures and counting, and former prime minster Tony Blair says that a second referendum is possible. But, Cameron had originally promised that the referendum was a "once in a generation, once in a lifetime" decision, insisting that the UK had "referendums not neverendums". And, on Monday he stood by his pledge and declared the result binding.
However, Scotland has now waded into the debate and threatened to veto the proceedings. It's first minister Nicola Sturgeon insists that Scottish parliament must give its consent. After all, in April the House of Lords did say that any decision would require the blessing of Scottish, Irish and Welsh parliaments.
With most of Scotland voting overwhelmingly to stay in the EU, Edinburgh may vote to leave the UK should another referendum be held in the near future. Moreover, the political party Sinn Fein has already called for a referendum on a united Ireland.
The "great" in Great Britain has never looked more tenuous.
And, with Brussels already threatening to close its doors, and financial markets still reeling, an entrenched sense of buyers remorse may very well be spreading throughout the electorate. As the old saying goes, if you break it, you bought it. But, is it really too late to chuck a U-turn?
In reality, the only way to undo what has been done would be for a general election to usher in a new pro European government. And, under normal circumstances, this could be plausible.
But, the opposition party has its own mess to contend with. After a vote of no confidence for its leader Jeremy Corbyn at the weekend, and mass resignations by his cabinet, it is hard to foresee the Labour Party sweeping into power anytime soon.
Moreover, the next PM has the hugely unenviable task of triggering Article 50 which will usher in Britain's official split from the continent. Cameron has bequeathed that responsibility to his successor. And, it is very much the poisoned chalice that it appears to be.
After all, who wants to be responsible for not only breaking Britain away from the EU, but breaking up the Union itself as Scotland defects to join its European cousins?
In spite of being an impassioned Leaver, even Johnson has since retreated from his originally bullish stance. Sheepishly, he now cautions against haste, saying changes "will not come in any great rush." After all, why trigger article 50 straight away?
However, if he does indeed become the next PM, and reneges on his promise, it's hard to see him surviving the wrath of the electorate. Over 17 million people voted against EU membership.
Yet, if he stands by his oath, he will oversee the crumbling of the Union, whilst what's left of it becomes mired in recession. It's not a pretty choice. Damned if you, and damned if you don't has never rung quite so true.
For those watching aghast from the other side of the Atlantic, there is a terrible feeling that what happens in the UK may not necessarily stay in the UK.
After all, if the British are foolish enough to leave the EU, then Americans may just be stupid enough to elect Donald Trump.
Even though two thirds of Scotland voted to remain in the EU, the Republican nominee remarked that the country was "going wild over the vote" after he landed last Friday.
The tweet inspired a huge backlash on Twitter:
