Absolutely nothing. Life continues as normal and we simply negotiate exit from the political machine of the EU, not the free-trade zone. We import more than we export to that zone so 'Europe' cannot hold us to ransom since it would be ecominally untenable. The customer weilds the power, and European businesses do not want to lose our custom.
It's safe to say it will be as favourable as the deals negotiated by Norway, Swizerland etc., but tailored to Britain of course. But it could be years before any news deals are struck. Until then, business as usual.
Since we are not in it the Schengen Area now it seems exceedingly unlikely that we would join it after leaving the EU! More likely we would negotiate free movement with countries of our choice.
Short term no change at all. Over some years, employment in Britian is likely to increase as we acquire better deals with the Commonwealth countries, while we are insulated from the increase in unemployment in the EU as jobs are exported to the USA after the TTIP is signed.
Short term nothing, long term probably nothing, but at most they'll have to get visas. Like all the non-EU workers.
Short term nothing, long term they may have to acquire leave to remain.
Long term it's possible we will implement visas for travel between some European countries (probably not the western ones), and instead allow freedom of movement between some commonwealth countries.
Meanwhile the remainers left the whole drawer of cutlery in there! They have no idea how much more soverignty we will cede to the EU, whether they will implement the European army, whether the TTIP will result in privatisation of the NHS and water supplies, no idea if we'll join the Schengen Area, no idea whether the Eurozone will continue to collapse, whether our trade with the EU will continue to shrink, whether we will bankrupt ourselves with uncontrollable immigration, whether the EU will ever make a deal with India, no idea what will happen in Ireland, etc, etc.
They don't even seem to have given it much thought!
