Brexit thread - what happens next

[Terminal_Boy]

Well, that match felt like sporting version of the Brexit.

Nah, both sides had a full turnout for tonight's match.

 

[toshj]

The EU is taking a bullish approach to this. No negotiation before you show your hand, and it's probably the right approach for them. It forces us in to making a decision without being able to test the water.

 

[Jono8]

I think the point people are missing is that an exit is being priced in to the markets 2-3 years ahead of the event. I fully expect a steady slide in UK equities up until that point. This also misses the fact that had the vote been in that the FTSE100 would be trading closer to 6500 given it was depressed due to the uncertainty. The same applied to sterling. The situation is going to slowly worsen over the next year.

The weakened sterling alone will mean:

Increase in petrol/diesel at the pump
Increase in gas and electricity prices
Increased in food prices
Increase in the cost of cars and consumer economics

My friends run a supermarket importing almost all goods. Prices are up 10% already. Another is a kitchen fitter and is about to do the same. These are facts as of now.

Indeed. But anyone with even a modicum of understanding of how these things work knew that.

As we saw, the days before the election when all signs pointed to remain winning we saw 1.51 GBP to USD and 1.31 GBP to EUR. It was forecast to go to 1.6 GBP/EUR and close to 1.4 GBP to EUR if we voted to remain (ie back up to the decent rates we had before all this eu nonsence got priced in).

Now it is 1.32 and 1.20. Eurgh

 

[do_ron_ron]

No hard questions, his team was rubbish.

Tosno replying to Nate

It was like the Brexit campaign you were told how good they were and that the whole of the Iceland team cost less than one English player but they did not tell you the most important fact. Iceland has a population about the size of Leicester and we know what happened to them this year:

 

[krooton]

http://www.cnbc.com/2016/06/27/nevermind-the-brexit-uk-will-emerge-with-a-good-trade-deal.html

The U.K. is by far Germany's most profitable export market. Last year, Germany's trade surplus with the U.K. came in at 51 billion euros ($56 billion), accounting for 34 percent of the German surplus with the EU. That surplus was also 42 percent higher than the German trade surplus with France, Berlin's largest European trade partner.

With its 89.3 billion euro worth of exports to the U.K. last year, Britain is Germany's third-largest export market, after the U.S. and France.

Will Germany give this up by shutting the U.K. out of a free-trade agreement with the EU? Of course it won't.

And here is another interesting story. You probably heard the Germans boasting about their booming China trade. Here is how booming that is: Last year, German exports to the U.K. were 25 percent higher than its sales to China. The big difference being that Germans made a huge surplus with the U.K., but their China trade recorded a 20 billion euro deficit – a fourfold increase from the deficit in 2014.

No wonder that Chancellor Merkel keeps saying that there is no need to be "nasty" with the U.K., while reassuring her compatriots that she would negotiate the U.K.'s exit from the EU with a great attention to German interests.

 

[Hades]

Plot twist... Lib Dem's the only viable political party after Brexit

 

[413x]

As hard as it is to say it. And I never normally would.
But I would whole heartedly support the over turning off the election result.
It would decimate faith in politics but save the economy.

The former is already in tatters, but there is enough time to save the economy.

I truly hope enough leaves votersleaves voters have understood their mistake and would agree they are wrong

Amount of damage done to pensions, economy, world stability? I'd sacrifice my moral fibre to save it.



I really don't think a big majority of the leave camp thought or wanted to understand anything beyond "we will save money" and "we will cut immigration"

And they will only see their mistake when prices go up.

Finally people can wake up to the fact that "sticking out to the fat bankers" etc impacts us all

 

[CorrectHorseBattery]

I'd sacfibre for ce moral five'rthey

 

[Tosno]

It was like the Brexit campaign you were told how good they were and that the whole of the Iceland team cost less than one English player but they did not tell you the most important fact. Iceland has a population about the size of Leicester and we know what happened to them this year:

I'm enjoying all these underdog wins. I hope Iceland win the cup.

 

[uber soldat]

As hard as it is to say it. And I never normally would.
But I would whole heartedly support the over turning off the election result.

Hitler is that you?

 

[johnloo]

I think the point people are missing is that an exit is being priced in to the markets 2-3 years ahead of the event. I fully expect a steady slide in UK equities up until that point. This also misses the fact that had the vote been in that the FTSE100 would be trading closer to 6500 given it was depressed due to the uncertainty. The same applied to sterling. The situation is going to slowly worsen over the next year.

The weakened sterling alone will mean:

Increase in petrol/diesel at the pump
Increase in gas and electricity prices
Increased in food prices
Increase in the cost of cars and consumer economics

My friends run a supermarket importing almost all goods. Prices are up 10% already. Another is a kitchen fitter and is about to do the same. These are facts as of now.

reduce profits or go bust.

 

[skywalker909]

The EU is taking a bullish approach to this. No negotiation before you show your hand, and it's probably the right approach for them. It forces us in to making a decision without being able to test the water.

I would do exactly the same. it's hard to take this goverment seriously if they agreed to hold this referendum.

 

[Boycey0211]

As hard as it is to say it. And I never normally would.
But I would whole heartedly support the over turning off the election result.
It would decimate faith in politics but save the economy.

The former is already in tatters, but there is enough time to save the economy.

I truly hope enough leaves votersleaves voters have understood their mistake and would agree they are wrong

Amount of damage done to pensions, economy, world stability? I'd sacrifice my moral fibre to save it.



I really don't think a big majority of the leave camp thought or wanted to understand anything beyond "we will save money" and "we will cut immigration"

And they will only see their mistake when prices go up.

Finally people can wake up to the fact that "sticking out to the fat bankers" etc impacts us all

Sorry, I'm pretty sure you said you were voting out purely to see what would happen?? Apologies if you changed your mind last minute I might have missed it...

 

[413x]

Hitler is that you?

To save possibly years of my pension, and that the leave campaign was run on lies? I wouldn't feel too bad

 

[w1lliam]

As hard as it is to say it. And I never normally would.
But I would whole heartedly support the over turning off the election result.
It would decimate faith in politics but save the economy.

The former is already in tatters, but there is enough time to save the economy.

I truly hope enough leaves votersleaves voters have understood their mistake and would agree they are wrong

Amount of damage done to pensions, economy, world stability? I'd sacrifice my moral fibre to save it.

I really don't think a big majority of the leave camp thought or wanted to understand anything beyond "we will save money" and "we will cut immigration"

And they will only see their mistake when prices go up.

Finally people can wake up to the fact that "sticking out to the fat bankers" etc impacts us all

They still maintain it's for the best.

With everything falling apart, they still don't care about anything but sovereignty and immigration.

 

[grudas]

The EU will do all they can to make an example out of UK, this will put off other people/members from doing the same.

 

[Tosno]

Hitler got votes, that's Lenin!

 

[Radox-0]

http://www.cnbc.com/2016/06/27/nevermind-the-brexit-uk-will-emerge-with-a-good-trade-deal.html

Not really uprising, everyone wants good agreements out of this. However we would be crazy to think we have an upper arm here or we can get free trade deals without any of the corner stone rules of the EU being enforced, some of which were part of the leave campaigns premise.

 

[413x]

Sorry, I'm pretty sure you said you were voting out purely to see what would happen?? Apologies if you changed your mind last minute I might have missed it...

I changed my mind towards last few weeks. Once I really understood and thought about it. But yes. Originally I was on the leave.

 

[Chojin]

The weakened sterling alone will mean:

Increase in petrol/diesel at the pump
Increase in gas and electricity prices
Increased in food prices
Increase in the cost of cars and consumer economics

I think we've picked a good time to do it then while oil prices are low rather than exiting at a $100+ barrel.

Food prices are as much as you want to pay really. Raw ingredients will still be affordable if you shop around. If people want to spend £10 on Waitrose pizzas that's up to them.