[Politics] Brexit

[Seagull58]

Interestingly the DAX hasnt event recovered 50% of its pre-Brexit level.

The CAC 40 also much more badly hit.

 

[Seagull58]

Great news, though not surprising, we are in a great position now to trade.

Now that the dead, bureaucratic hand of the EU is being moved out of the way.

 

[Jim in the West]

In other news, the FTSE100 is now higher than last Thursday.

How many trillions of pounds does that mean we created today?

I think there are quite a few posts on here highlighting that the FTSE100 doesn't represent UK plc. What is REALLY happening in UK business at the moment is a huge amount of investment decisions going on hold. As an example, I was at a meeting yesterday with 5 other CFOs in the same industry as the company I work for. Amongst the 5 of them, they have put over £1bn of investment on hold as a result of the Referendum result. Having spoken to quite a lot of other businesses and our various advisors over the past few days, this is not unusual. It probably won't make the headlines, and the impact won't start to show for several months - but it WILL mean fewer jobs. This in turn will lead to the risk of recession, and very possibly further austerity.

 

[The Rivet]

I think there are quite a few posts on here highlighting that the FTSE100 doesn't represent UK plc. What is REALLY happening in UK business at the moment is a huge amount of investment decisions going on hold. As an example, I was at a meeting yesterday with 5 other CFOs in the same industry as the company I work for. Amongst the 5 of them, they have put over £1bn of investment on hold as a result of the Referendum result. Having spoken to quite a lot of other businesses and our various advisors over the past few days, this is not unusual. It probably won't make the headlines, and the impact won't start to show for several months - but it WILL mean fewer jobs. This in turn will lead to the risk of recession, and very possibly further austerity.

Well, we'll see wont we?

I see that no protest, no fraudulent online petition is getting anywhere.

 

[Seasider78]

Scotland would never be able to join alone exactly because of the Spanish issue with Catalonia. Expect similar issues with Serbia/Kosovo when they join. Sturgeon knows the only way they can stay in is to split with the UK BEFORE article 50. After that, it's one hell of a risk to gain independence and then try and fail to rejoin the EU.

Is it also not the case that new EU members (which Scotland would be post independence) also have to adopt the Euro.

Good luck with that Scotland

 

[Jim in the West]

Well, we'll see wont we?

Unfortunately, we will.

 

[dazzer6666]

My shares, mainly denominated in dollars, is doing fantastically well thanks. Will need to consider coming out before Trump has the chance to win

I've avoided logging on to check my mainly funds-based (fairly wide range of fund types) ISA for a week, but bit the bullet today and through my fingers looked at the screen and........it was rather boringly about the same as a couple of weeks ago. Some up, some down (UK bank shares mainly) but overall nothing to see really.

 

[pastafarian]

From the ft.com about an hour ago - it would be hilarious if it wasn't so serious:

Michael Gove’s wife says Brexit result ‘terrifying’
Sarah Vine indicates reaction of Leave camp in her regular Daily Mail column

Michael Gove’s wife has described the EU referendum result as “terrifying”, in another indication that Leave campaigners may not have expected to win Thursday’s vote on EU membership. Writing in the Daily Mail, Sarah Vine said she wrongly thought that polling day “would bring an end to months of uncertainty and anxiety.” Her account is the latest example of Mr Gove and Boris Johnson making their views known through newspaper columns, rather than press conferences or speeches.

The two men made a brief, sombre statement on Friday morning, but took no questions. Mr Johnson wrote his weekly column for Monday’s Daily Telegraph about the terms on which Britain could leave the EU. But it contained several errors — including stating that the pound was trading at higher levels than in 2013 and 2014, and suggesting that UK citizens could still enjoy free movement. Friends later said it was written “too quickly”. “Everyone’s exhausted,” said one person involved in the Vote Leave campaign. “There’s a lot in play, and there’s a lot going on behind the scenes.” Such behaviour has gone down poorly with European leaders and some Conservative MPs, who say Leave should have been prepared for the aftermath of a victory. In response, Leave campaigners have said it was the government’s duty to have performed contingency planning before the vote.

In a previous column in February, Ms Vine wrote about a dinner at the Johnsons’ house, shortly before the two men backed Brexit. “As dinner was being served, it got even more bizarre. A senior Cabinet minister, accompanied by a lawyer, came on speakerphone to discuss the complexities of law in relation to sovereignty. Michael and Boris leaned into the iPhone, Boris firing questions at it, Michael making listening noises,” she recalled. On Wednesday, she described how her husband was woken at 4.45am on the morning of the result, by a caller saying, “Michael, guess what? We’ve won!” “Gosh, I suppose I had better get up,” he said. By that stage, the UK Independence party leader Nigel Farage had already given a victory speech, congratulating Leave campaigners on winning “without a bullet being fired”. Ms Vine expressed surprise at the result: “What I thought would bring to an end to months of uncertainty and anxiety — polling day itself — has, in fact, turned out to be merely the start of it. It’s not that I didn’t think Leave could win. It was just that they were up against a rival campaign with all the money, all the power and all the scare stories.” “[Voters] ignored all the threats and lies, and voted according to their principles. Which, from where I’m standing, makes the result even more terrifying,” she added.

Mr Gove is supporting Mr Johnson’s campaign to become Conservative party leader after David Cameron announced his resignation on Friday. The two men met as students at Oxford university, where Mr Gove supported Mr Johnson’s campaign to become president of the Oxford Union 30 years ago. “I was Boris’s stooge. I became a votary of the Boris cult,” the justice secretary wrote in 2005. Mr Johnson was elected Union president, after he renounced his Conservative ties and posed as a supporter of the Social Democrats, the university’s largest political grouping.

Is there a reason why Sarah Vines explanation (in her article) of precisely why she found the result terryfying, has been completely omitted?

could it be that it completely changes the tone of what you have presented when its included?

project grabbing at straws is now in full swing

 

[The Rivet]

BBC. God they are pathetic.

 

[Soulman]

BBC. God they are pathetic.

If you mean the BBC news then i don't watch it.

 

[The Rivet]

If you mean the BBC news then i don't watch it.

I watch Gollum on NewsNight to remind me how biased they are predominately!

 

[Soulman]

I watch Gollum on NewsNight to remind me how biased they are predominately!

BBC news just winds me up, if i want a sleepless night i might as well eat a big hunk of cheese.

 

[The Rivet]

BBC news just winds me up, if i want a sleepless night i might as well eat a big hunk of cheese.

Blue cheese with a glass of port?

 

[Soulman]

Blue cheese with a glass of port?

Defo English cheese

 

[Lincoln Imp]

Is there a reason why Sarah Vines explanation (in her article) of precisely why she found the result terryfying, has been completely omitted?

could it be that it completely changes the tone of what you have presented when its included?

project grabbing at straws is now in full swing

I can't understand why Sarah Vine thinks the voters 'ignored all the scares and lies'. Most Leave voters I've spoken to believed all the scares and lies. That's why they voted as they did. (Just for the record I have a copy of a Leave flyer in front of me that says the NHS will collapse if we stay in.)

 

[The Rivet]

Defo English cheese

Found a creamy yellow blue veined from the Uk. Different from the 'white' veined blue. A little cloying but fab taste and great with a posh port. Glous cheese I think.

 

[The Rivet]

The clamour is dying down. Kids who didn't vote will scream but, by default have no weight having not voted properly. Don't vote = No political voice. That taught them a lesson school didn't! The rest of us adults split ideologically. The result looks as though it will stand and we have to get on with it.

 

[The Fifth Column]

Found a creamy yellow blue veined from the Uk. Different from the 'white' veined blue. A little cloying but fab taste and great with a posh port. Glous cheese I think.

Good man, none of that EU cheese nonsense! Glad youve finally seen sense.

 

[pastafarian]

I can't understand why Sarah Vine thinks the voters 'ignored all the scares and lies'. Most Leave voters I've spoken to believed all the scares and lies. That's why they voted as they did. (Just for the record I have a copy of a Leave flyer in front of me that says the NHS will collapse if we stay in.)

You know she was referring to the "threats and Lies" from the rival camp ........dont you?

 

[pastafarian]

Found a creamy yellow blue veined from the Uk. Different from the 'white' veined blue. A little cloying but fab taste and great with a posh port. Glous cheese I think.

had a blue cheese from sussex (waitrose) at xmas very pleasant indeed
cant remember the name