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[DarthMasta]

I don't see how Brexit doesn't become a part of pretty much every election from now on.

Get a good deal and it'll be "Do what the English did, freedom and awesome deals" for all the anti-EU parties.

Get a painful one and "Do you really want to go through what the English are going through / We've showed them, with their special rules and everything, stood our ground on the face of English bullies".

At least until it becomes "normal".

 

[Maledict]

I don't understand the "wait til Art.50 gets triggered" posts.

What will happen if/when it gets triggered.

The FTSE100/250 will go down?
The £ will go down in value?

The markets have already priced in BRIEXIT. It's done the only thing left to see what type of deal is struck and that is just politics. I'm positive the UK will be fine and London will still be the finicial centre of the world.

I'm sorry but this makes absolutely no sense at all.

The markets haven't 'priced in' Brexit because we still have no idea what Brexit is. The fact that you describe the deal that needs to be done as 'just politics' confuses me because that deal is *everything*. Financial passporting alone is a huge thing that will significantly harm London if we don't get it.

Also, surely you noticed the massive drop the £ has already suffered, and that all analysts predict it to drop further as Brexit continues to happen?

 

[Theonik]

The markets have already priced in BRIEXIT. It's done the only thing left to see what type of deal is struck and that is just politics. I'm positive the UK will be fine and London will still be the finicial centre of the world.

A large portion of the market hasn't yet priced in Brexit and a portion of that doesn't even believe it will actually end up happening.
As negotiations begin, you will see a new round of instability as people begin pricing the flow of the negotiations and as it becomes clear what Brexit actually means.

 

[oti]

I don't understand the "wait til Art.50 gets triggered" posts.

What will happen if/when it gets triggered.

The FTSE100/250 will go down?
The £ will go down in value?

The markets have already priced in BRIEXIT. It's done the only thing left to see what type of deal is struck and that is just politics. I'm positive the UK will be fine and London will still be the finicial centre of the world.

"It is done" might be the most naive thing I've read in this thread so far.

 

[GamingKaiju]

A large portion of the market hasn't yet priced in Brexit and a portion of that doesn't even believe it will actually end up happening. As negotiations begin, you will see a new round of instability as people begin pricing the flow of the negotiations.

Markets have already priced in BRIEXIT. The falls already point to that. Markets don't wait they react and move on.

Governments will do all they can to keep stablitiy.

 

[Deleted member 231381]

I don't understand the "wait til Art.50 gets triggered" posts.

What will happen if/when it gets triggered.

The FTSE100/250 will go down?
The £ will go down in value?

The markets have already priced in BRIEXIT. It's done the only thing left to see what type of deal is struck and that is just politics. I'm positive the UK will be fine and London will still be the finicial centre of the world.

The markets haven't priced in Brexit because they don't know what Brexit is. You can talk to the user avaya about this because he works in the industry directly, but I work in a related industry and would say about 30% of investors don't think Brexit is going to happen at all, 20% think we'll keep freedom of movement and single market (EFTA, essentially), 30% think we'll keep freedom of movement in returns for a specially negotiated Swiss-type deal that keeps some aspect of the single market such as the financial passport, 10% think we'll get some kind of co-operative deal that excludes freedom of movement and freedom of services but keeps goods flowing (Canada-style), and then 10% think we'll go hard Brexit with a complete cut-off. That means current market prices reflect a balance of all these things, and if, say, Swiss-type happens, about half the market was expecting something better (not happening or EFTA), and so they would have to correct their expectations - which would be expressed as a drop in the pound and a drop in real terms in both the FTSE indexes, but more so for the FTSE 250.

You say this is "just a matter of politics", but that's hugely important politics! If we manage to get an EFTA-type deal complete with financial passport, freedom of movement, and single market; that's essentially the same as the status quo but with just our political influence removed, I think the markets would show only a slight downward dip. If we go hard Brexit, the markets would absolutely tank. There's so much undecided!

 

[GamingKaiju]

"It is done" might be the most naive thing I've read in this thread so far.

Sorry for the Double post but I'm on my phone.

That is quite naive posting that.

Markets react they don't wait.

EFTA-type deal complete with financial passport, freedom of movement, and single market; that's essentially the same as the status quo but with just our political influence removed, I think the markets would show only a slight downward dip. If we go hard Brexit, the markets would absolutely tank. There's so much undecided!

This is the most likely outcome of leaving the EU. It's best for all parties involved to keep the status quo unchanged as possible.

Sorry for my spelling guys

Certain conditions of a deal might make a small wave but overall most of the damage has been done.

 

[QuicheFontaine]

I thought it was a typo, but you keep saying "BRIEXIT". Do you actually mean an egress of soft French cheese from the EU?

 

[Joni]

Markets have already priced in BRIEXIT. The falls already point to that. Markets don't wait they react and move on.

Governments will do all they can to keep stablitiy.

They have started pricing in the Brexit delay as well. The markets started rising once the pro Brexit people got sidelined. The real effects are still to come once it turns out how much will be left of that financial center. That could destroy the real estate market in london as well as the local support economy. Car makers will be more hesitant to keep UK factories open when making new model decisions, which means about 10 000 Jobs lost per factory.

 

[El Topo]

You made Gabriel cry! Are you happy now?

Good. He's been terrible. SPD has been truly disappointing for years now.

This is precisely why it won't happen by then. Negotiations will be difficult enough as it is, and May will want to negotiate with Merkel (or whoever wins, but Merkel) rather than the entire population of Germany.

Assuming Merkel will still be around. I could see politicians in CDU/CSU attempt a "coup". Seehofer might see it as his one shot of greatness, because he would never win a general election.

 

[oti]

Good. He's been terrible. SPD has been truly disappointing for years now.



Assuming Merkel will still be around. I could see politicians in CDU/CSU attempt a "coup". Seehofer might see it as his one shot of greatness, because he would never win a general election.

Seehofer? Oh heeeelllllllllllllllllllllllllll no.

 

[El Topo]

Seehofer? Oh heeeelllllllllllllllllllllllllll no.

He would never win a general election, he's been on the populist train for a while now and he's the only CDU/CSU politician with a significant power base. I could see him attempt it. Do what Strauß could not.

 

[kmag]

The markets don't just price in brexit there's other associated factors influencing values at the moment. Essentially a combination of the currency fall, the interest rate cut and the collapse in gilt returns means that money has very little place to go in hopes for a return. Dividend bearing shares is basically the default at the moment, and it's pushing up the markets.

 

[Theonik]

Markets have already priced in BRIEXIT. The falls already point to that. Markets don't wait they react and move on.

Governments will do all they can to keep stablitiy.

Markets reflect investor sentiment. As that changes so do the markets.

 

[GamingKaiju]

They have started pricing in the Brexit delay as well. The markets started rising once the pro Brexit people got sidelined. The real effects are still to come once it turns out how much will be left of that financial center. That could destroy the real estate market in london as well as the local support economy. Car makers will be more hesitant to keep UK factories open when making new model decisions, which means about 10 000 Jobs lost per factory.

London will be fine. To much money flows through London everyday.

 

[Dougald]

I thought it was a typo, but you keep saying "BRIEXIT". Do you actually mean an egress of soft French cheese from the EU?

That would be a far greater tragedy than the loss of the UK

 

[KNT-Zero]

So. A few thoughts

1) Do you have UK citizenship?
2) Have you thought about WHERE you want to buy a new house and the financials involved?
3) Are you in a stable job?
4) Do you have proof of stable income?
5) How long are you prepared to house hunt?

I have alarm bells ringing in my head when I think of what you want, due to your status, your income and where you want to buy. If I was you I would look further into this (maybe post in UKGaf or maybe MoneySavingExpert forums.

1) No.
2) No, I am fresh on this sort of situation.
3) Yes.
4) Yes, if a contract counts.
5) As long as needed.

Will try asking on UK GAF and those forums, thanks!

I think it's a good idea. Heck, I literally just got a mortgage two weeks ago.

One thing I would note is that you will need at least a 10% deposit. That is, a lump sum which is the value of 10% of the property you want to purchase. If you look at house prices in the UK this can be a large amount! Most people take many years to save up, so I hope you have been doing that, or have some inheritance. You can't take a loan out for the deposit either. This is the first thing you should think about, as without a deposit the whole thing is a non-starter.

Oof. 10% deposit? I saw a studio valued 170,000 quid last night at a real estate agency window. I don't have THAT much saved up! This might take a good while...

As said above it completely depends on the price of the house and if you have the savings for the deposit. income is the first thing they would look at.

House prices atm are the highest they have ever been. which makes first time buyers have a hard time even getting the deposit in the first place,

The lowest rates usually dabble around 75% Maximum LTV

I guess, all things considered, I just need to find a better paid job in the long run. Minimum wage is going to get me nowhere.



Thanks for the input guys!

 

[QuicheFontaine]

That would be a far greater tragedy than the loss of the UK

Hey, our cheeses can go toe to toe with any of that French muck. What is brie really, if not Dairylea that's been left out on a radiator overnight?

Oof. 10% deposit? I saw a studio valued 170,000 quid last night at a real estate agency window. I don't have THAT much saved up! This might take a good while...

Yeah, sadly there's no way round it really. A lot of people have to get help from their parents, or wait until they inherit some money.

I think there may be some government Help to Buy scheme that lets you have a 5% deposit if you buy a newly built home. Maybe look into that?

 

[Binabik15]

Good. He's been terrible. SPD has been truly disappointing for years now.



Assuming Merkel will still be around. I could see politicians in CDU/CSU attempt a "coup". Seehofer might see it as his one shot of greatness, because he would never win a general election.

The darkest of timelines.

Can't we have BEXIT instead of Seehofer as chancellor?

 

[GamingKaiju]

Markets reflect investor sentiment. As that changes so do the markets.

Yes they do. Investors didn't like the vote so they sold.

Now once £v$ has found a sure footing. A demand area, Fibonacci line, swing low or what ever it wil go up again. If I reinstalled my trading software I could give some prices of where £vs$ would likely bounce. Looking at the daily suggests the £ is nearing the bottom since it is unable to penetrate lower than 1.2xx and hold the close.

The biggest flaw with using currencies is that you never know when a big company will make a massive currency transaction I.e sell £ and buy $.

I once had an awesome trade going but ford made a currency transaction that wiped out my stop.

 

[KingSnake]

I don't understand the "wait til Art.50 gets triggered" posts.

What will happen if/when it gets triggered.

Reality will strike.

Edit: this post strangely reminds me of a similar one in relation to Greece crisis. Is this a meme?

Edit2:

This is the most likely outcome of leaving the EU. It's best for all parties involved to keep the status quo unchanged as possible.

That's not BREXIT though. Of course that if everything remains the same (still remains to be seen about EUR clearing and financial passport) except for UK's voting right the impact will be minimal on economy. A lot of people will be pissed off though.

 

[GamingKaiju]

Reality will strike.

Edit: this post strangely reminds me of a similar one in relation to Greece crisis. Is this a meme?

Greece was a totally drifferent situation.

Fun Fact: Greece used a accountancy company in london to fudge the book's so it hid what they owed out.

Edit: I saw your edit lol

That's not BREXIT though. Of course that if everything remains the same (still remains to be seen about EUR clearing and financial passport) except for UK's voting right the impact will be minimal on economy. A lot of people will be pissed off though

Of course it's not but this will be reality. The UK can't quit the EU and the EU (it's leaders) don't want to lose the UK.

I'm sorry but this makes absolutely no sense at all.

The markets haven't 'priced in' Brexit because we still have no idea what Brexit is. The fact that you describe the deal that needs to be done as 'just politics' confuses me because that deal is *everything*. Financial passporting alone is a huge thing that will significantly harm London if we don't get it.

Also, surely you noticed the massive drop the £ has already suffered, and that all analysts predict it to drop further as Brexit continues to happen?

London will be fine. I know some people who work in the city and they tell me that none of the banks/traders have little to any interest at the moment of moving as lots of trading can be done via proxy from the EU.

The massive drop recently in £vs$ is why I made my post stating why all the posts referring to art 50. The fall has already happened the markets have priced in brexit to a certain extent. Yes there will be waves of buying and selling on the markets but overall most of the damage is done. All what’s left to do is see what the politcations work out.

The massive fall in GBP has made me want to go back into day trading as there are tons of opportunity now to buy and hold for a very long time.

 

[Frankfurter]

This is precisely why it won't happen by then. Negotiations will be difficult enough as it is, and May will want to negotiate with Merkel (or whoever wins, but Merkel) rather than the entire population of Germany.

If May does Brexit, there is a narrow window. It can't be dragging on by the British elections (start of 2020), and it can't be during the elections for major European partners (early 2017), and it takes two years, so best bet says the end of 2017 in time to finish by late 2019 and hopefully bury at least some of the immediate consequences in time for an election.

More like starting in early 2018 probably. The German elections are in mid September. It'll take ~2 months to complete the negotiations for the coalition, so there is not much time left before the end of 2017 to actually trigger art. 50.

 

[Joni]

London will be fine. To much money flows through London everyday.

London’s financial industry generated £66.5bn in taxes during the last financial year. Even a 10% drop would mean £6.65bn lost in tax revenue, or about 4% of the total tax revenue of Great Britain. London losing only 10% would already have a huge effect.

Now, let's see how important the Euro is for London

The UK is home to both the largest “over the counter” (OTC) Euro foreign exchange transactions market and the largest OTC interest rate derivatives market in the world. Around 1 trillion euros are exchanged in the UK every day, compared with 395 billion euros in the US. In terms of interest rate derivatives, including forward rate agreements, swaps, options and other products, the UK is a clear market leader in euro-denominated transactions, with a daily turnover of 927 billion euros.

Now imagine that without any passporting rights. Losing 10% wouldn't be unrealistic or even high, but it would already have an immediate disastrous economic effect.

 

[SteveWD40]

London will be fine. To much money flows through London everyday.

Because it holds banking passports.

- Frankfurt and Paris hoover up our investment banking industry.

- We have to make trade deals based on being a service economy who can't provide the main service we were known for (global financial services).

- We don't have enough civil servants to actually negotiate trade deals, let alone ones with experience.

- Our banking industry slashes profit forecasts and take the pain out on the businesses that rely on them (so all of the SME market for example).

- Prices increase, the pound slips to being shit(er)

The country won't collapse and it won't happen overnight, but you can't "price" the above in. The city have priced in the consistent rumour / speculation that we won't actually leave, due to rhetoric from May (the union must agree, when it makes sense etc...) and whispers from Whitehall that only the hard-line actually want to leave.

 

[GamingKaiju]

London’s financial industry generated £66.5bn in taxes during the last financial year. Even a 10% drop would mean £6.65bn lost in tax revenue, or about 4% of the total tax revenue of Great Britain. London losing only 10% would already have a huge effect.

Now, let's see how important the Euro is for London



Now imagine that without any passporting rights. Losing 10% wouldn't be unrealistic.

I think you guys are confusing my posts as been pro leave and look we are alright blah, blah. I voted remain BTW.

I'm just saying that markets have priced brixit already if London didn't keep it's passprting(which I highly doubt) then yeh shit really could hit the fan but then trades can be done via proxy.

But in reality the UK will still be part of the EU in some way and we will get access to the single market. Freedom of movemnt is a tricky one.

Because it holds banking passports.

- Frankfurt and Paris hoover up our investment banking industry.

- We have to make trade deals based on being a service economy who can't provide the main service we were known for (global financial services).

- We don't have enough civil servants to actually negotiate trade deals, let alone ones with experience.

- Our banking industry slashes profit forecasts and take the pain out on the businesses that rely on them (so all of the SME market for example).

- Prices increase, the pound slips to being shit(er)

The country won't collapse and it won't happen overnight, but you can't "price" the above in. The city have priced in the consistent rumour / speculation that we won't actually leave, due to rhetoric from May (the union must agree, when it makes sense etc...) and whispers from Whitehall that only the hard-line actually want to leave.

Yeh I agree with we wont actually leave we may not have a say in the EU but the UK will still be part of the EU in some form.

 

[Kabouter]

Of course it's not but this will be reality. The UK can't quit the EU and the EU (it's leaders) don't want to lose the UK.

A lot can happen when public pressure is involved, and the pressure for a real exit will be great. I'm not saying it will, but to discount the possibility seems folly.

 

[KingSnake]

Of course it's not but this will be reality. The UK can't quit the EU and the EU (it's leaders) don't want to lose the UK.

Then the next UK elections will be fun, fun, fun.

 

[kmag]

Because it holds banking passports.

Your posts suggest a lack of understanding on the huge implications of actual Brexit (no free market, banking passports), so I will highlight the main ones:

- Frankfurt and Paris hoover up our investment banking industry.

- We have to make trade deals based on being a service economy who can't provide the main service we were known for (global financial services).

- We don't have enough civil servants to actually negotiate trade deals, let alone ones with experience.

- Our banking industry slashes profit forecasts and take the pain out on the businesses that rely on them (so all of the SME market for example).

- Prices increase, the pound slips to being shit(er)

The country won't collapse and it won't happen overnight, but you can't "price" the above in. The city have priced in the consistent rumour / speculation that we won't actually leave, due to rhetoric from May (the union must agree, when it makes sense etc...) and whispers from Whitehall that only the hard-line actually want to leave.

I'd add to that the following

At the best of times it's absolutely murderous to get comprehensive services access in free trade deals. It's not really been successfully accomplished. Goods deals are relatively straightforward. The EU common market is by far the most comprehensive services free trade market in existence and even then the UK spent the last 30 years moaning about how incomplete it was in the realms of services access.

Unfortunately for the UK, the world is moving into a protectionist period when it comes to trade, Brexit can be seen as an extension of that sentiment, as can the domestic EU reaction to the CETA and TIPP proposals. Both US presidential candidates have espoused anti-free trade and pro-protectionist rhetoric during their campaign. In short it's not a good time to being having to negotiate a metric ton of free-trade deals, or even to be dicking about with schedules at the WTO. The UK will have to do both and somehow magic up FTA's which are services heavy just to stand still.

Funny enough, most of the problems people have with CETA and TIPP are to do with their services provisions, most notably the competition clauses.

And that's not even getting into the growing trend of successful FTA's to be regional trade agreements to be between trading blocs. The smaller economies of the world are pooling into regional blocs to counterweight the comparative strength of the US, EU and China. The UK has decided to leave the biggest trade bloc which has by far the largest number of free trade agreements and go it alone. At the best of times that would seem unwise, in the current global anti-free trade political climate it would seem to be madness.

 

[GamingKaiju]

A lot can happen when public pressure is involved, and the pressure for a real exit will be great. I'm not saying it will, but to discount the possibility seems folly.

Most people seem to off forgotten Brixit already. I have no idea what will happen I'm just going off my instinct. Wether we get a hard exit of soft exit need to be seen.

I'm hoping for a soft exit as I really like(d) been able to travel around Europe with only my passport and not needing to apply for Visa's.

Then the next UK elections will be fun, fun, fun.

I can see some parties using the election to keep the UK in the EU as it is now. I know I would vote to stay in again.

 

[Joni]

I think you guys are confusing my posts as been pro leave and look we are alright blah, blah. I voted remain BTW.

The content of our posts isn't affected by that. In either case, we are demonstrating how important this is.

I'm just saying that markets have priced brixit already if London didn't keep it's passprting(which I highly doubt) then yeh shit really could hit the fan but then trades can be done via proxy.

What are the details of this Brexit that they have priced in? They know as much as anyone else: nothing. They are pricing in the fact that nothing is happening and that for some time, nothing will happen. They know that May won't call Brexit for another year, so for the moment, their money is safe.

But in reality the UK will still be part of the EU in some way and we will get access to the single market. Freedom of movemnt is a tricky one.

Freedom of movement is like the number 1 item on the EU demand list.

 

[oti]

Yeh I agree with we wont actually leave we may not have a say in the EU but the UK will still be part of the EU in some form.

The definitive "You played yourself".

 

[GamingKaiju]

The content of our posts isn't affected by that. In either case, we are demonstrating how important this is.


What are the details of this Brexit that they have priced in? They know as much as anyone else: nothing. They are pricing in the fact that nothing is happening and that for some time, nothing will happen. They know that May won't call Brexit for another year, so for the moment, their money is safe.


Freedom of movement is like the number 1 item on the EU demand list.

I'm getting a vibe that people think I voted leave. I didn't. Why rock the boat when we are in clear waters?

No one knows what Briexit meant so markets panicked and sold and are now waiting to see what deal is worked out. Things *could* get worse but I think it'll be a soft exit with some look we can now control our boarders slightly better when in reality we will still have to accept freedom of movement.

Honestly if the EU had allowed the UK to have slightly better control over immgration the vote would have been very one sided i.e remain.

Speaking geographical terms you can fit England into the south of France with room left over.

The definitive "You played yourself".

Sorry but is that insult aimed at me personally or the people that voted leave? I'm not sure if it's the latter then lol I totally agree it was a stupid vote IMO.

 

[Joni]

No one knows what Briexit meant so markets panicked and sold and are now waiting to see what deal is worked out.

Indeed. That is different from the Brexit is priced in. It is not.

Honestly if the EU had allowed the UK to have slightly better control over immgration the vote would have been very one sided i.e remain.

That is just nonsense. The United Kingdom already is outside the Shengen zone, so they have complete control over their borders when it comes to checking people coming in. It means you are one of the countries that has the best control over illegal immigrants coming in. You also have complete control over non-European immigrants coming in. And like every European Union country, you are free to deny any European Union citizen that has committed a crime and you are the only one that can actually check this due to being outside of Shengen. This all aside from being able to deny European Union migrants access to welfare systems before they have contributed.

Speaking geographical terms you can fit England into the south of France with room left over.

And slightly higher population density than the Netherlands, and slightly lower than Flanders. And all of this just because of London which is about 1/6 of the population of England. England is fairly empty.

 

[oti]

Sorry but is that insult aimed at me personally or the people that voted leave? I'm not sure if it's the latter then lol I totally agree it was a stupid vote IMO.

The vote of course.

 

[*Splinter]

Of course it's not but this will be reality. The UK can't quit the EU and the EU (it's leaders) don't want to lose the UK.

Why not? It seems Germany especially has a lot to gain from Brexit.

 

[EmiPrime]

It's Monday and we already have a contender for most ignorant, delusional thing written about Brexit of the week:

Want proof that Britain can thrive after Brexit? Look at South Korea

In the furore over how Britain should look post-Brexit, it’s surprising that we haven’t heard more about South Korea. Because whether it’s Switzerland, Norway or Canada, the countries most commonly held up as possible models don’t actually resemble us at all.

Those looking for a better glimpse into our future could do worse than scrutinise the peninsular country probably best known for the 1988 Seoul Olympics and Psy’s 2013 K-pop smash hit Gangnam Style.

Almost entirely coastal, South Korea has a population of just over 50 million and a land mass of roughly 100,000 sq km – not far off the UK’s 60 million and 130,000 sq km.

Several hundreds words without mentioning Chaebols, SK's strong manufacturing industries and protectionism. Chalk and cheese.

 

[DarthMasta]

Brexit might be good for the EU in the sense of showing what a bad idea leaving the EU is, removing one of the least EU-friendly countries from the project and forcing business to relocate to the EU. Might also be terrible. Who knows. Same for the UK...

But don't kid yourself, it won't be business as usual, even if the UK takes it back. The special place the UK enjoyed in the EU was due to the fact that it was necessary to placate the UK population who might leave if not given sweet deals, and that the UK leaving the EU would be worse for the EU than the UK.

The vote has showed that there is no deal sweet enough to placate the UK voters, and that leaving is a terrible idea for the UK who has an economy far more entangled with the EU than most people realized. Also, voters in the rest of the EU might now start to respond positively to calls to stick it to the British.

 

[GamingKaiju]

Indeed. That is different from the Brexit is priced in. It is not.


That is just nonsense. The United Kingdom already is outside the Shengen zone, so they have complete control over their borders when it comes to checking people coming in. It means you are one of the countries that has the best control over illegal immigrants coming in. You also have complete control over non-European immigrants coming in. And like every European Union country, you are free to deny any European Union citizen that has committed a crime and you are the only one that can actually check this due to being outside of Shengen. This all aside from being able to deny European Union migrants access to welfare systems.

And slightly higher population density than the Netherlands, and slightly lower than Flanders. And all of this just because of London which is about 1/6 of the population of England. England is fairly empty.

No we didn't. That why was why the UK voted to leave what was the latest immgration numbers before the vote? 333000 something like that nearly 3x the goverments purposed target. That is what made people vote leave.


I wasn't bothered by the welfare stuff. If someone wanting to come over claim welfare over here. I wouldn't blame them we have a excellent welfare system when it's not been systmatically destroyed by our own groverment.

My comment about you could fit England into south of France was an attempt to show the UK is a tiny island really. We weren't able to feed our selves properly in WW2 when our population was smaller and now we are a lot bigger with more coming every day.

Our public services have been cut back to the bare bone when we are expirencing high levels of immgration.

I don't even know why I'm talking bout this now. I've gone off the topic of my original post.

There are too many doom bringers in this thread "saying wait till we actually leave" I merely stepped in said but the markets have reacted to the vote. most of the damage is done now markets may dip now and then. Investors didn't like the vote so they sold to sell again means they have to rebuy? that makes less sense to me.

London will keep passporting. Sorry but it will the EU have very tight rules when it's comes to trading following the '08 crash but london doesn't. To an investment banker who can trade under our rules with EU banks via a proxy sounds more tempting then relocating you entire office and work force.

Yes I've spoken to a trader about this matter and has told me plenty of banks would operate in this manner if London doesn't keep passporting.

The vote of course.

lol yep

Why not? It seems Germany especially has a lot to gain from Brexit.

Your thinking of stripping the UK clean of everything would be a gain for them? Trust me that would be in no ones best interest. No I'm talking poltically in the EU. I read an article it was posted on here and it said numerous times Merkel didn't want us to go and we act as a balance against France who wants closer inergration.

 

[EmiPrime]

Last I checked immigrants didn't impose austerity on the UK and non-EU immigration was slightly higher than immigration from the EU.

It's almost as if the EU was a convenient scapegoat which British people projected all their problems onto...

 

[Theonik]

Then the next UK elections will be fun, fun, fun.

Of course. The Brexit timing is the worst.

 

[Joni]

No we didn't. That why was why the UK voted to leave what was the latest immgration numbers before the vote? 333000 something like that nearly 3x the goverments purposed target. That is what made people vote leave.

You can point out which element I mentionned is incorrect? You are simply seeing the failure of the British government to accomplish a curb on immigration. They could have more than halved that number without any new rules.

My comment about you could fit England into south of France was an attempt to show the UK is a tiny island really. We weren't able to feed our selves properly in WW2 when our population was smaller and now we are a lot bigger with more coming every day.

It is also not World War 2 anymore, food production is a lot better with the European Union being largely self-sufficient. Brexit would basically cut off access to that self-sufficient market. You'd still be a small island but without direct access to the major food producer.

Our public services have been cut back to the bare bone when we are expirencing high levels of immgration.

Indeed. That is the point that a lot of British voters are missing. Your government fucked up, keeps fucking up and will continue to fuck up.

There are too many doom bringers in this thread "saying wait till we actually leave" I merely stepped in said but the markets have reacted to the vote. most of the damage is done now markets may dip now and then. Investors didn't like the vote so they sold to sell again means they have to rebuy? that makes less sense to me.

They sold quick to minimize losses, they are buying low due to low pounds after which they will sell higher. At this moment, they are simply guessing the Brexit will not happen for some time to come so they can profit while they have nothing else to invest their money, as the interest rates were cut.

London will keep passporting. Sorry but it will the EU have very tight rules when it's comes to trading following the '08 crash but london doesn't. To an investment banker who can trade under our rules with EU banks via a proxy sounds more tempting then relocating you entire office and work force.

THey would still have to capitalize those offices separately. They would still have to follow those tight rules. As for the moves, most of these banks already have other major offices, for instance BNP in Paris or Deutsche Bank in Germany. Working via a proxy means New York main offices for American branches is a better idea than a EU branch that acts as a proxy for the UK that acts as a proxy for the US.

Your thinking of stripping the UK clean of everything would be a gain for them? Trust me that would be in no ones best interest. No I'm talking poltically in the EU. I read an article it was posted on here and it said numerous times Merkel didn't want us to go and we act as a balance against France who wants closer inergration.

It would be in a lot of country's best interests to lure parts of the financial industry, to lure the European medical agency which could also lure the medical sector to keep them close to the medical agency. The UK hosts a couple of European institutions that a lot of countries want.

 

[GamingKaiju]

You can point out which element I mentionned is incorrect? You are simply seeing the failure of the British government to accomplish a curb on immigration. They could have more than halved that number without any new rules.

Yeh the old goverment failed on immgration that news headline about immigration before the vote is what drove people to vote leave. I agree a lot of failures by the goverment was covered up by the scrapegoat that is the EU.

Imposing hash austerity at a time when immgration is at it's highest levels was a bad idea by Osbourne.

Dave Cameron only really had one goal get rid of the deficit and they killed most areas outside of London pissed loads of people off and now people wonder why we voted to leave.

There is way to much doom and gloom in here. The UK will be fine these big exdous's people are hoping for haven't happend. No one know Briexit means and no one knows what it'll entail but lets face it most of us in the UK have got to go through with it.

 

[Pie and Beans]

Dave Cameron only really had one goal get rid of the deficit and they killed most areas outside of London pissed loads of people off and now people wonder why we voted to leave.

Yes a lot of people are wondering that because the EU supported and developed lots of cities and areas outside of London.

People are upset that people voted without even understanding what the fuck they were voting on.

 

[GamingKaiju]

Yes a lot of people are wondering that because the EU supported and developed lots of cities and areas outside of London.

People are upset that people voted without even understanding what the fuck they were voting on.

I'm pretty sure people went and voted and then actually read what the EU was and came to the concluision that they fucked up.

 

[War Peaceman]

Yes a lot of people are wondering that because the EU supported and developed lots of cities and areas outside of London.

People are upset that people voted without even understanding what the fuck they were voting on.

Yup. The Leave vote was driven by resentment against politics, immigration and a long stretch of anti-poor policy. However the people who did vote leave were by and large ignorant of the reality on which they were voting for. Leaving will not resolve the problems they face.

The fact that the areas receiving the highest EU funding voted predominantly to leave (and vice versa) speaks to the level of ignorance in the average Leave voter. They have tried to cut off their nose to spite their face. I have sympathy for the difficult situation they've been put in, but if they suffer because of leaving the EU (I hope they don't and that we don't) then they deserve it. Actions have consequences.

 

[Royal_Phalanx]

Unfortunately I see no way to undo this vote without Brexiteers getting butthurt unfortunately. Major constitutional issues should never, ever be left to the public to vote on, especially not without a supermajority. Emailed my MP asking him for his stance on rejecting Brexit if it ever was put to Parliament and his reply was essentially "I think Brexit is a terrible idea and I don't want it to happen but I am unfortunately forced to support it should Art.50 be put to a vote for approval because undoing the result would set a precedent that would undermine trust in politics".

 

[Linkstrikesback]

I'm pretty sure people went and voted and then actually read what the EU was and came to the concluision that they fucked up.

No, that would require the people who voted leave to be able to even consider that they might have been wrong. Very few people are ever accepting of that idea, no matter the subject.

 

[Royal_Phalanx]

No, that would require the people who voted leave to be able to even consider that they might have been wrong. Very few people are ever accepting of that idea, no matter the subject.

"B-but WE TOOK OUR COUNTRY BACK!"

 

[MJLord]

Unfortunately I see no way to undo this vote without Brexiteers getting butthurt unfortunately. Major constitutional issues should never, ever be left to the public to vote on, especially not without a supermajority. Emailed my MP asking him for his stance on rejecting Brexit if it ever was put to Parliament and his reply was essentially "I think Brexit is a terrible idea and I don't want it to happen but I am unfortunately forced to support it should Art.50 be put to a vote for approval because undoing the result would set a precedent that would undermine trust in politics".

Come on. Nobody trusts it anyway.