Brexit. Why do Brits want Out of the EU?

@Blickers,

Blickers wrote:

Not saying there will be NO effect on the UK economy, just saying that whatever effect Brexit has will probably not be much.

You cannot know that. Have you drunk the Leave kool-aid? The effects will be far reaching and profound. Things haven't got going yet.

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@ehBeth,

From today's Financial Times

Quote:

“Some of the rise in the costs of holidays [in the western Mediterranean] are down to sterling,” said Andrew Brown of Post Office Travel Money, a currency exchange company.
[...]
The pound, which weakened significantly against the dollar and the euro in the wake of the Brexit vote, currently buys about €1.19 on the spot market. Two years ago, it would have purchased €1.27, a difference of 8 per cent.

Normal travellers don't get the spot market exchange rate. What UK's-holidaymakers should do, explained in the (pro-Brexit) Express :

Quote:

Simon Phillips, head of retail at money specialist No1 Currency, said: “Sterling has lost 16 per cent of its value against the euro since last July, meaning that British holidaymakers’ money won’t go as far as it did a year ago.

“But today the pound recovered some of the lost ground after the Bank of England’s surprise decision to hold off cutting UK interest rates.

From Wednesday's Guardian report £1 buys just €1 in some UK airports

Quote:

Since the Brexit vote the pound has been hovering around the €1.18 level – down from a pre-vote €1.30. The tourist rates offered to those who just turn up at airline booths without pre-booking their holiday currency have long been poor, but appear to have hit a new low.

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@Blickers,

PS: Especially when you see how the Pound looks vs the Euro for the last two years-nothing to worry about. The Euro has gone from 0.8£ to 0.7£ back up to slightly more than .8£ . So-where's the fire, Chief?

http://i1382.photobucket.com/albums/ah279/LeviStubbs/Pound%20%20vs%20Euro%202%20year_zpsadipgln3.jpg

1 Reply

@Blickers,

Blickers wrote:

So-where's the fire, Chief?

I don't swim in money as you do. For me and my English friends a difference of 8 per cent is quite a bit.

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@Walter Hinteler,

As the chart illustrates, for such a momentous occasion, the Pound has not really gone outside its usual oscillations versus the Euro. You don't have to be swimming in cash to see that. The post-vote predictions of horror are not coming true.

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1. Neither pound nor euro is spelled with a capital letter at the start.

2. The real impact will come after (if) Article 50 is engaged, and the UK looks like breaking up.

3. Like I said,

Quote:

Have you drunk the Leave kool-aid?

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@Walter Hinteler,

So true. Especially since returns on bonds is less than 1%. Makes you wonder if it's worth freezing your money into bonds when the inflation rate is higher.

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@Blickers,

Blickers wrote:

The post-vote predictions of horror are not coming true.

It's far, far too soon to say that.

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@contrex,

A day or two after the vote, the Remain side was looking at the Pound and proclaiming Apocalypse.

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@Blickers,

Because the cost of a loaf of bread hit the roof?

Or because speculators lost paper value on the FTSE?

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@Builder,

Around 3 million people living in the UK in 2014 were citizens of another EU country. That’s about 5% of the UK population. Over 2 million nationals of other EU countries are in work, about 7% of the working population.

New EU migrants to UK could be sent home to avoid rise in immigration ahead of Brexit, claimed the Brexit minister (aka Secretary of State for Exiting the European Union) Davis yesterday

So what happens with the others? He stopped short of guaranteeing the status of EU nationals already in the country. Mr Davis said: "We will get a generous settlement for EU migrants here now and a generous settlement for British citizens in the EU."

Which means a lot of uncertainty not only for those but for their employers as well.
And there's no plan how to fill the jobs they've done - from university over the famous Polish plumber to the thousands of doctors and nurses in the NHS.

That might not de-stabilize the pound, but seems to be a large problem in my opinion.

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@Walter Hinteler,

Thanks for the info, Walter.

I'm thinking that with housing shortages across Britain, this isn't going to be too bad long-term.

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@Walter Hinteler,

The Brexit minister was interviewed in the Mail on Sunday: We'll send EU migrant 'surge' back: Brexit Minister David Davis says he may send home Europeans who rush to get in before we leave Brussels

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@Walter Hinteler,

Just think of all those huge estates the classists are sitting on.

Vacant land doing nothing.

Those classists are part of the creation of the refugee crisis.

Take their land.

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Take a squiz at this video, Walter.

https://www.facebook.com/EndTheFed.Org/videos/1705821819677849/

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@Builder,

What do you think of getting educated what a membership in the EU means? It's not just about exchange rates.

In my opinion the most critical point in the coming discussions is ... free movement: the UK wants to have access to the single European market. But the EU has already made clear that it will also continue to have to guarantee the free movement of EU citizens - because that's one of the pillars and main principles of the EU.

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@Walter Hinteler,

Education meaning scholarships? Or qualifying for higher education?

I think we're approaching an era of automation and instant knowledge bases, something akin to what they show in the matrix series.

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The UK is to relinquish its upcoming six-month presidency of the European Council (2017) as it prepares to leave the EU.

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@Walter Hinteler,

Walter Hinteler wrote:

In my opinion the most critical point in the coming discussions is ... free movement: the UK wants to have access to the single European market. But the EU has already made clear that it will also continue to have to guarantee the free movement of EU citizens - because that's one of the pillars and main principles of the EU.

What I don't get is that there are all these opportunities for staying in the EU, from holding a second referendum to ask the public if they are really sure they want to do this, to requiring a general election to be won before withdrawing (or better yet, both).

Yet all these politicians both in the UK and the EU who seemingly would greatly prefer to see the UK remain in the EU are saying that it is time to go ahead and conduct the separation as soon as possible.

At least there seems to be a will on both sides to talk about maintaining trade ties. Here in the US, Trump is pledging to end all of our free trade agreements.

If the UK does leave, one interesting suggestion is that through lax banking rules they could become a sort of "Singapore" off the cost of the EU. But while that might benefit the country as a whole, I don't know that it would be all that beneficial to UK citizens who aren't already billionaires.

Anyway, as I said before I hope everything works out without ruining anyone's livelihood (either in the UK or EU).

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@oralloy,

oralloy wrote:

What I don't get is that there are all these opportunities for staying in the EU, from holding a second referendum to ask the public if they are really sure they want to do this, to requiring a general election to be won before withdrawing (or better yet, both).

A second referendum would be kind of "inflationary": the public has been asked.
A general election can't be done without following the normaland legal procedures.

oralloy wrote:

Yet all these politicians both in the UK and the EU who seemingly would greatly prefer to see the UK remain in the EU are saying that it is time to go ahead and conduct the separation as soon as possible.

Well, the UK isn't in a hurry, the EU (most of it, and the majority of member countries) wants to follow article 50 fast, for the sake of clarity.

oralloy wrote:

At least there seems to be a will on both sides to talk about maintaining trade ties.

There's a lot of trade going on between continental European countries (not just EU-members) and the UK. It would be more than stupid to cut those ties, even it is only because the UK is still geographically part of Europe, separated by a larger ditch from the mainland.

1 Reply

Brexit. Why do Brits want Out of the EU?

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