As a Londoner and a “remain” voter Friday was a very sad turn of events for me. It is important to know however that the final outcome does not necessarily have to be as bad as the initial headlines have made out. What the UK was actually voting on was whether to remain a member of the European Union. Membership of the EU is, in economic terms, a non-event. What is far more important is access to the common market, a large free-trade area, larger in fact than the EU itself. Countries like Norway and Switzerland are part of the common market, but are not part of the EU. If the UK can maintain access to the common market, then the actual impact will be quite mild.