Regardless of the reason why Britain decided to exit it is the threat it poses to other nations. If other nations decide to leave then the real systemic issue begins.
I can absolutely assure you that the Greeks would love to be able to lower their 8% sovereign junk bonds by undertaking QE like the US has done so the interest repayments are manageable! This involves leaving the Euro (need sovereign currency) and why not leave the EU while you are at it!
Make it a hot pot: Spain, Portugal & Italy.
Suddenly you have 38% of the EU GDP wanting out.
I disagree about the positive jobs report. Official job data has been fine (although you cannot view this in isolation with weak retail sales. Obviously the jobs being created are not confidence boosting with regard to consumer spending).
Yellen is looking for inflation. Raising rates put pressure on inflation and we all know deflation=default with high debt countries. They cannot risk a deflationary crisis.
