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Post-Brexit UK News and Discussions


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#81
MarcZ

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Some good news:

 

A Reuters poll has found that most Scots do not want a Second Independence Referendum for the time being. This means the government should be able to focus on dealing with the actual economic fallout from this decision and deciding how it wants to move forward.

 

http://www.zerohedge...ence-referendum


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#82
MarcZ

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New P.M. will be in by September 2nd. 

 

So at least 2 months of turbulence.

 

http://www.bloomberg...y-friday-sept-2



#83
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UK loses top credit rating from S&P

27 June 2016

 

The UK has lost its top AAA credit rating from ratings agency S&P following the country's vote to leave the EU.

S&P said the the referendum result could lead to "a deterioration of the UK's economic performance, including its large financial services sector".

Earlier the pound plunged to a 31-year low against the dollar, and UK markets closed lower for a second day.

S&P had been the only major agency to maintain a AAA rating for the UK.

On Friday, Moody's cut the UK's credit rating outlook to negative.

A rating downgrade can affect how much it costs governments to borrow money in the international financial markets. In theory, a high credit rating means a lower interest rate (and vice versa).

S&P said that the leave result would "weaken the predictability, stability, and effectiveness of policymaking in the UK".

 

http://www.bbc.co.uk...siness-36644934


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#84
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Brexit: Gibraltar in talks with Scotland to stay in EU

27 June 2016

 

Gibraltar is in talks with Scotland about a plan to keep parts of the UK in the EU, BBC Newsnight has learned.

Fabian Picardo, the territory's chief minister, told the BBC he was speaking to Scotland's First Minister, Nicola Sturgeon, about various options.

One possibility under discussion is for Gibraltar and Scotland, which both voted to remain in the EU, to maintain the UK's membership of the bloc.

Nicola Sturgeon has confirmed that talks are under way with Gibraltar.

Northern Ireland could also potentially be included in the discussions.

"I can imagine a situation where some parts of what is today the member state United Kingdom are stripped out and others remain," Mr Picardo told Newsnight.

"That means that we don't have to apply again for access, we simply remain with the access we have today, and those parts that leave are then given a different sort of access, which is negotiated but not necessarily under Article 50," he said, referring to a provision in the Lisbon Treaty that sets out how a member state can voluntarily leave the Union.

Nicola Sturgeon confirmed to BBC Scotland that talks are underway with Gibraltar on the matter.

 

http://www.bbc.co.uk...rendum-36639770


I want to go ahead of Father Time with a scythe of my own.

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#85
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Brussels rejects Boris Johnson 'pipe dream' over single market access

Monday 27 June 2016 15.42 BST

European diplomats have dismissed claims from Boris Johnson that the UK could negotiate access to the EU single market without obeying any of the rules.

“You cannot have your cake and eat it,” said an EU diplomat, echoing a phrase the former mayor of London used during the campaign and which looks set to come back to haunt him.

In a further blow to the leave camp’s credibility, Germany’s leading business group distanced itself from Johnson’s suggestion that German business expected Britain’s free trade with Europe to continue seamlessly.

Read more: http://www.theguardi...e-market-access


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#86
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The European Union will not hold informal talks with the UK until it triggers Article 50 to leave, Germany, France and Italy have insisted

 

ll three leaders voiced regret at the UK's vote to leave, with Mrs Merkel calling it a "very painful and regrettable decision".

"We are in agreement that Article 50 of the European treaties is very clear - a member state that wishes to leave the European Union has to notify the European Council," Mrs Merkel told the joint news conference at the German chancellery.
"There can't be any further steps until that has happened. Only then will the European Council issue guidelines under which an exit will be negotiated.
"That means that, and we agree on this point, there will be neither informal nor formal talks on a British exit until the European Council has received the [UK's] request for an exit from the European Union."
 
President Hollande and Prime Minister Renzi emphasised the need to process the UK's exit as quickly as possible and focus on the challenges facing the remaining 27 states such as fighting terrorism and strengthening the borders.
 
"Our responsibility is not to lose time in dealing with the question of the UK's exit and the new questions for the 27," Mr Hollande said. "There is nothing worse than uncertainty."

 

Labour crisis: Parliamentary Labour Party to go ahead with no confidence vote in Jeremy Corbyn after 35 shadow ministers quit

 

Jeremy Corbyn has lost more than half his Cabinet and seen more than 30 of his MPs revolt against his leadership over the last 48 hours. 

 
Mr Corbyn has lost 20 of his 31 strong shadow cabinet and seen a further 13 shadow ministers resign this morning. 
 
The rebels have criticised his performance in the EU referendum and he faces further resignations from the junior frontbench ranks amid fresh calls for him to stand down as leader. 
 
Jeremy Corbyn's grip on the Labour leadership looked increasingly weak as Angela Eagle became the most senior member of his shadow cabinet to quit.
 
Shadow housing minister John Healey, shadow energy secretary Lisa Nandy and shadow work and pensions secretary Owen Smith have all resigned - adding to the 12 shadow cabinet members Mr Corbyn lost on Sunday.
 
Sources said that Mr Corbyn will refuse to step down and will instead try and make public a planned secret vote on his future so that voters can see which MPs are trying to unseat him.

 

David Cameron has ruled out a second referendum on Britain’s EU membership.

 

The Prime Minister’s spokesperson said that holding another vote was “not remotely on the cards”. The clarification comes amid a petition calling for a re-run in the event of a close result and following speculation that the government may go to the country again once the terms of Britain’s new relationship have been agreed.


If the world should blow itself up, the last audible voice would be that of an expert saying it can't be done. -Peter Ustinov
 

#87
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You just beat me with the EU leaders reject informal talks post Maximus.


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#88
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I still am puzzled by why financial markets are going crazy. Nothing has even happened yet... 



#89
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I still am puzzled by why financial markets are going crazy. Nothing has even happened yet... 

 

Financial Markets/People over the world I guess don't know what will happen to the UK and maybe that's why it's going crazy they say it'll go back to normal next week, hopefully.


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#90
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I still am puzzled by why financial markets are going crazy. Nothing has even happened yet... 

It's called uncertainty...investors and consumers are worried about the negative effects that could result from the UK exiting the EU (bear in mind that nothing has really changed yet, the UK is still a EU member state). Markets won't stabilize until this affair is over, and since the Conservatives are dragging this out until their party convention, we'll see 3 months of instability. Plus whatever amount of time it takes to resolve the whole situation.


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If the world should blow itself up, the last audible voice would be that of an expert saying it can't be done. -Peter Ustinov
 

#91
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Unrelated, but damn...

 

inceland_zps9pgglqic.jpg

 

2nd time within a week that England leaves Europe. xD  


If the world should blow itself up, the last audible voice would be that of an expert saying it can't be done. -Peter Ustinov
 

#92
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Brussels rejects Boris Johnson 'pipe dream' over single market access

Monday 27 June 2016 15.42 BST

European diplomats have dismissed claims from Boris Johnson that the UK could negotiate access to the EU single market without obeying any of the rules.

“You cannot have your cake and eat it,” said an EU diplomat, echoing a phrase the former mayor of London used during the campaign and which looks set to come back to haunt him.

In a further blow to the leave camp’s credibility, Germany’s leading business group distanced itself from Johnson’s suggestion that German business expected Britain’s free trade with Europe to continue seamlessly.

Read more: http://www.theguardi...e-market-access

 

I wouldn't be surprised if quite a few mainland european countries lock Britain out of their markets. Either way this is going to hurt really bad for Britain.


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#93
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I still am puzzled by why financial markets are going crazy. Nothing has even happened yet... 

Nothing has happened yet, but if you are some of the multinational business interests in europe and have offices in the UK, the changes in employment, and trade terms will effect you when it does happen. You have to plan accordingly. In some cases as have been reported that means being ready to lay off workers and closing offices in the UK and pulling up operations to another location outside the UK and into more EU supported regions.

 

What's even more stressful is such groups have to watch the EU too, as there is some noise from France and Denmark that say they may follow britain, or that there may even be the end to the Euro. and in those cases what does that mean to someplace like Greece? If The UK, France and Denmark make moves to leave, or the Euro is done away with you lose a lot of critical life support for the barely alive EU members, and the strain on the others make the choices of where to relocate and what the outcomes for a business could be a lot more uncertain.

 

These businesses relocating, would by the way lead to drying up of job markets, and make for regional recessions. Have a look at Flint michigan to see what that can look like.

 

So what we see right now is peoples 5 and 10 year plans now being complete rubbish, and people are scrambling to get what information they can and figure out better plans with more certainties and stability they can count on. And the UK isn't any of those things right now. It's a subprime investment and we all know what happened the last time we just assumed taking on those would just work out in the end.


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Await occasions, never make haste. Find wonder and awe, by experiencing the everyday.

#94
MarcZ

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I still am puzzled by why financial markets are going crazy. Nothing has even happened yet... 

It's called uncertainty...investors and consumers are worried about the negative effects that could result from the UK exiting the EU (bear in mind that nothing has really changed yet, the UK is still a EU member state). Markets won't stabilize until this affair is over, and since the Conservatives are dragging this out until their party convention, we'll see 3 months of instability. Plus whatever amount of time it takes to resolve the whole situation.

 

 

I understand this. Though none of the potential financial ramifications will occur for at least 2 years so I see no reason for the panic. Futures have most stock markets except the UK going up tomorrow though. 



#95
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Tourism boom incoming?

 

U.S. searches for flights to U.K. surging with low pound.

 

http://www.reuters.c...SKCN0ZD33O?il=0



#96
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#97
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Brexit: Holyrood to hold emergency debate on EU

28 June 2016

 

Nicola Sturgeon is to ask the Scottish Parliament to formally back her efforts to protect Scotland's place in the EU.

In an emergency debate at Holyrood she will call on MSPs to support talks with officials from the UK, EU and other member states.

Labour, the Liberal Democrats and Scottish Greens have already said they will fully back Ms Sturgeon's motion.

But it is understood the Scottish Conservatives will attempt to amend it.

There will be full live coverage of the debate on our Holyrood Live page from about 14:00.

Speaking ahead of the debate, Tory leader Ruth Davidson cautioned the SNP against using any negotiations to further their aim of independence.

But she said it was "encouraging" that Ms Sturgeon had already held discussions with the UK government and London Mayor.

Ms Sturgeon has said it would be "democratically unacceptable" for Scotland to face the prospect of being taken out of the European Union against the wishes of its people.

 

http://www.bbc.co.uk...litics-36645355


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#98
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Looks like Jeremy Hunt might run for Tory leadership.



#99
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Hey Will, could you please change the title of this thread from "Post-EU Britain News and Discussions" to "Post-Brexit UK News and Discussions"? I mean, the UK is still a EU member after all, and it doesn't look like it's leaving anytime soon. Thanks a lot!  :biggrin:


If the world should blow itself up, the last audible voice would be that of an expert saying it can't be done. -Peter Ustinov
 

#100
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Hey Will, could you please change the title of this thread from "Post-EU Britain News and Discussions" to "Post-Brexit UK News and Discussions"? I mean, the UK is still a EU member after all, and it doesn't look like it's leaving anytime soon. Thanks a lot!  :biggrin:

I got it.


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Live content within small means. Seek elegance rather than luxury, Grace over fashion and wealth over riches.
Listen to clouds and mountains, children and sages. Act bravely, think boldly.
Await occasions, never make haste. Find wonder and awe, by experiencing the everyday.




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