(VOVworld) –British voters went to polls on Thursday in a historic referendum known as Brexit to decide whether to leave or remain in the European Union. The world’s leading economic, financial, and monetary organizations, central banks, and economists have projected the short and middle-term consequences if Brexit happens.

An EU referendum ballot paper (Photo: AFP/Getty)

Monetary analysts expect the Sterling Pound will fall by up to 20%, or even by up to 30% if Britain leaves the EU. They said there could also be barriers to trade in the form of higher tariffs when the UK and the EU negotiate an exit. Angus Armstrong, Director of Macroeconomics at the National Institute of Economic and Social Research, said the service sectors and sectors that benefit from the free movement of labour are likely to be most affected by Brexit. House prices would fall by 10-18% by 2018 and houses for sale would decline, according to an independent survey by the UK’s Treasury. A survey by the UK Society of Motor Manufacturers and Traders found that more than three-quarters of multinational firms operating in Britain believe Brexit would harm their business operation, while major car manufacturers, including Toyota, BMW, and Vauxhall, have all backed remaining in the EU.

On Wednesday, rival sides in Britain's referendum on EU membership made final appeals to voters. Prime Minister David Cameron held a rally in Bristol to seek support for remaining in the EU. The Labour Party leader Jeremy Corbyn also asked Labour supporters to vote for the country to stay. Pro-Brexit campaigners persuaded undecided voters. At Billingsgate fish market in London, former London Mayor Boris Johnson called for British to take the opportunity to break away from the failing and dysfunctional EU system.

Also on Wednesday, European Commission president Jean Claude Juncker warned that there would be no further renegotiations if the UK votes to leave and that the EU did not intend to go beyond the already existing deal reached between Prime Minister Cameron and European leaders in a February submit. French President Francois Hollande said that Brexit would be a very serious risk for Britain to lose its access to the single EU market.