This reminds me more and more of Greece, with Farage in the Varoufakis role.

https://en.wikipedia.org/wiki/Greek_bailout_referendum,_2015

The public voted "no", again, but obviously that made no difference to the deals on offer and no deal remained disastrous, so Syriza were ultimately forced to accept a worse deal: "On Monday, 13 July, the Syriza-led government of Greece accepted a bailout package that contains larger pension cuts and tax increases than the one rejected by Greek voters in the referendum"