BBC has just called the election for Leave, Pound tumbles, dollar strengthens. Get ready for a wild ride.
BBC has just called the election for Leave, Pound tumbles, dollar strengthens. Get ready for a wild ride.
Watching the reactions of the markets and the pundits on television it is remarkable that so few of the experts were able to convey with any success the enormity of what is now about to happen - in so many ways. With Scotland having voted so overwhelmingly in favour of staying in the EU, the possibility of another referendum on its leaving the UK must now be extremely high. A break-up the UK as we know it is back on the agenda. Right-wing parties around the EU will gain added strength and embolden them to leave the EU. Will the EU impose punishing sanctions on the UK as it negotiates out, if only to discourage other member states? And all this is before those with savings in sterling and European currencies start to wonder when the massive losses already stacked up in recent hours will begin to regain some of their value. Sterling is now at its lowest level since 1985!
Even more interesting. The result is not binding on parliament. Any chance Cameron and the UK parliament dare to overturn the will of the people?
"Even more interesting. The result is not binding on parliament. Any chance Cameron and the UK parliament dare to overturn the will of the people?"... not likely based on both the Torie and Labour leader's comments on BBC. Seems like everyone wants to move forward with mediating the impact.
The UK will be fine, We were fine before we joined and we'll be fine when we leave,
Patanawet (June 24th, 2016)
Certainly a Pollyanna reply and doesn't reflect what I am currently watching. Never realized as American that British society is so polarized. Let this be a less as the American election approaches to take nothing for granted.Originally Posted by arsenal
In the long run, I think Arsenal will be proved correct. But it's going to be a helluva bumpy ride for the next 2 - 3 years. Anyone in the UK planning to retire to Thailand in the near future may have no option but continue working for another couple of years.
Let's just hope other EU countries don't decide to follow suit. I guess we still have NATO so it wouldn't be the end of the world. Nonetheless, considering Russia has already invaded Ukraine, it may be a good idea for the EU to remain united.
Cameron will resign. New PM by October.
I'll stick my neck out here. I don't think the UK will totally leave but rather remain as part of the trading block without the political interference.
Leave NATO? great idea. The EU diplomats may be self-serving but those NATO generals are straight out of Doctor Strangelove.
By the way, with Scotland like to leave the UK, perhaps a united Ireland will follow. The Bullingdon Club will go down in history as the ones who killed the UK and restored Little England.
I was pleased to see that my country, London, told Farage et al to get lost....perhaps we could declare independence? With Jeremy as PM.
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