How will Brexit affect the price of the Pyra?

[fusion_power]

I still have trouble to understand the british humor and I was long time trained by Benny Hill, Mr.Bean, Little Britain etc...
First, they votet out, then the initiators of the Brexit Campain suddenly become surprisingly quiet and talk about taking time and not to hurry... XD And how it turns out, they don't even have any plan how they actualy want to leave the EU. And they really think they even can pull out benefits during negotiations.
Funny people, those brits, for sure.

 

[ZXDunny]

...And all the racists are like "Yay, there's 17 million of us now! Let's start hurting people!".

FML.

 

[levi]

First, they votet out, then the initiators of the Brexit Campain suddenly become surprisingly quiet and talk about taking time and not to hurry... XD And how it turns out, they don't even have any plan how they actualy want to leave the EU. And they really think they even can pull out benefits during negotiations.
Funny people, those brits, for sure.

IMO it shouldn't have been their job to plan for what happens now, except informally as a way to campaign. The onus is on the man or the party who called the referendum to have a backup plan for how to manage if things don't go your way. At the moment, the Brits as a whole are failing to find the funny side of this, with the last series of the News Quiz on the radio having just finished, and Have I Got News For You apparently not on the telly at the moment.

In reply to someone else on the last page, regarding people googling about the EU after the vote, how do you know those aren't remainers trying to figure out what they will now lose?

 

[ZXDunny]

We already know what we'll lose; it started the day the vote was counted and is continuing now.

 

[levi]

What's going on right now is just the uncertainty of not having managed any replacement trade deals yet, in terms of the market. In terms of the economy, we've had threats of job losses (mainly in the capital(s) so far), but nothing's actually happened yet. And in terms of society hopefully these recent far right stories are not a significant increase, just an improvement in reporting. It remains to tell whether the UK government will be able to maintain the funding of the regions, the sciences and the arts at anything like the levels they were funded under the EU, and what sort of trade deal we'll get from the EU in the end is still in the very early stages of posturing before negotiations start.

 

[Caine]

And in terms of society hopefully these recent far right stories are not a significant increase, just an improvement in reporting.

What? You hope that this has been going on all along and just wasn't being noticed? That can't be what you mean.

I hope that it is an extremely temporary increase soon to be followed by a massive drop.

 

[Yasu]

It will take two years before Britain leaves so there is plenty of times of business as usual.

Maybe there will be a reelection in which some party will say that if they win they won't honor the referendum (as they don't legally have to). If they win then they can claim people have in practice overturned the referendum and there will be no brexit. It's democratically dubious of course, but so what this referendum. Any vote where the outcome may have been different if it was done three weeks earlier and wasn't raining is really dubious. I guess we will see in the near future.

 

[levi]

We shall find out pretty soon, I reckon. If May becomes PM there's a chance she'll spin out article 50 for long enough, but if Leadsom gets in I reckon drafting the article might be her first act. We'll see.

I note that this seems to be the first day where the pound has closed at an equal or higher level against the euro than it started at. Maybe its tumble has bottomed out. I'm honestly not sure which is better for that number; spinning it out and never submitting article 50 or doing it as fast as possible. The latter will almost certainly be worse for the financial sector that pays so much of our taxes in the longer term, but in the short term reducing uncertainty might have some value in settling the markets. I guess we'll find out before too long there too.

 

[Yasu]

My guess is that Brexit by no means will be a disaster but it will probably not be a blessing either. All the things a modern economy needs to do (transfer funds, import and export skilled labour, having a simple enough goods tax system etc) the EU has already worked out on a huge scale. Britain will now have to do all the negotiating themselves. This is a good thing when you are a huge country with an enormous economy and military that can get the best deal out of every negotiation. Like it was for Britain 150 years ago. Britain today is not in such a position, and having the huge economic power of the EU to back up ones stance was probably very beneficial. This will not be the case anymore, which means that other huge countries like the US, Russia, China, Japan or the new EU will have it easier to get the better end of the deal.

I don't like the EU myself and I would like Sweden to leave it as well, but I acknowledge that it's not as easy as to just leave. The downsides are bigger than the upsides which means that if we really want to have independence as well as a fluid working set of agreements in Europe we need to start in that end. Build an alternative first, then you can ditch the EU.

 

[Neelix]

I'm not sure why the UK would lose any of that when it leaves the union. It's not like they were ever part of the EuroZone, so they've always maintained a certain amount of economic independence from the rest of the EU anyway.

-Neelix

 

[vcoleiro1]

Well the pound has taken a hit against the USD , however, the FTSE 100 has recovered and is now well higher than it was before the BREXIT vote. In fact it's approaching a 12 month high.

 

[Yasu]

That is the case with the Euro. But as far as the laws that applies in the EU, including treaties and taxes Britain will have to now negotiate themselves. But it's true that Britain has been a reluctant and relatively independent member from the start so it sure is possible that leaving will affect them less than if for example Sweden would do the same. We simply don't know yet.

 

[levi]

I'm not sure what the difference between the UK and Sweden's arrangements as part of the EU is. Sweden also retained its historic currency, so it's also not part of the eurozone. Both nations implement the full set of applicable EU regulations, and both will have implementations of its directives (although the implementation may well differ slightly in specific cases). Britain does have various opt-outs, but most of those will simply stop applying when there's nobody applying directives that we can opt out of. Sweden is part of schengen which will probably help negotiations in the even of a Swexit - they could threaten to stop people travelling through Sweden to get a better deal on access to the free market (though in practice I'm not sure how many people do travel through Sweden apart from a few Finns buying snus).

 

[Yasu]

Sweden is a small economy, heavily dependent on export. We are very dependent on the EU:s inner market.

 

[ZXDunny]

Well the pound has taken a hit against the USD , however, the FTSE 100 has recovered and is now well higher than it was before the BREXIT vote. In fact it's approaching a 12 month high.

And yet my pay has been climbing since the referendum and is now at £400+ per month more than prior to the vote. I get paid in Euros FWIW.

 

[levi]

That probably makes up for the general devaluation of the Euro against the pound for the seven previous years.