Sterling on back foot due to growing concern about no-deal Brexit

[SheungWan]

The one to blame is the government for not tabling an agreement that parliament can agree on, or calling the whole thing off until such agreement has been found. Government clearly is in the lead here, but I doubt a Johnson government will do any better than the May one. You can’t have your cake and eat it, so it’s either pleasing the ultras or protecting the economy and reputation of the country. Both doesn’t work. If it’s the latter, you’ll have to compromise (or campaign until you have enough ultras in parliament). 

Parliament cannot agree on anything right now and that includes no-Deal. Nor could the Government have tabled a silver bullet agreement satisfying a majority. Parliament voted down all options. The maths are still there, with or without BJ.

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[SheungWan]

and you want to "get your country back" with this shower leading you ?

Hard Brexiteers are hoping that Boris Johnson will bypass Parliament. Same people who wanted Royal Prerogative over Parliament.

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[Henryford]

7 hours ago, OneMoreFarang said:

The Brits get what they want... 

(I am sorry for the people who voted remain and who have to live through this. It must be hard.)

We haven't got it yet. Imagine if the people of the USA voted for a Republican President 52/48 but the Democrats installed a Democrat President. How would they feel ?

[Thairealist]

40 minutes ago, SheungWan said:

The vote was not for no-Deal but hey! Spin away!

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Correct, so what was the the question put to the British people in the referendum. Well SW, let me remind you, as you seem to have a short memory.

 

 

 

Edited July 23, 2019 by Thairealist

[flossie35]

6 hours ago, JonnyF said:

It's really started to tank since those Machiavellian Remainers starting plotting to block No Deal. More uncertainty, and FX markets hate uncertainty as does business.

 

The likes of Grieve, Hammond, Stewart etc. should hang their heads in shame. 

 

Twaddle. It started to tank as soon as the referendum result was announced. It has continued downward ever since. You seem to be suggesting it would rise phoenix-like if there was a no deal brexit. Suggest you consult an economist.

[welovesundaysatspace]

28 minutes ago, SheungWan said:

Parliament cannot agree on anything right now and that includes no-Deal. Nor could the Government have tabled a silver bullet agreement satisfying a majority. Parliament voted down all options. The maths are still there, with or without BJ.

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I accept that none of the indicative votes produced a majority in parliament. I still believe this could be different when a compromise deal is tabled now. Either way, if there’s no majority for anything, it’d be the responsibility of government to call the whole thing off until something can be agreed on, rather than keeping the country in this limbo state.  

[Thairealist]

3 minutes ago, flossie35 said:

Twaddle. It started to tank as soon as the referendum result was announced. It has continued downward ever since. You seem to be suggesting it would rise phoenix-like if there was a no deal brexit. Suggest you consult an economist.

 

 

 Which economist do you recommend? 1/ Those who recommended us to join the Euro. 2/ those who were incapable of predicting the 2008 world economic crash, 3/ or perhaps those who predicted Financial Armageddon should the people vote for Brexit

[puipuitom]

8 hours ago, fishtank said:

Actually it was less than 50% who voted for this nonsence.

As you say not fair on the right thinking majority.

When I have to read all the comments of the Brexiteers, a landslide and overwhelmingly democratic majority ( 51,88%) voted for Brexit ( whatever, the heck), so this mere leglectable 48,11% has nothign to say.

30% too lazy to go to the polls, and how many out of these 51,88% felt swindled, betrayed, lied to.. nobody knows. looking at the EU parliament election, with Brexit now, UKIP and some other parties, the British are still close to 4% to choose for disaster. So, be happy with it. British democracy: the winner takes it all. GOOD LUCK ( you will need it) 

[puipuitom]

6 hours ago, Andrew65 said:

In the last year the Euro/Baht has gone from 39.06 to 34.62, a fall of almost 12%.

As usual, Brexiteers ignore the reality.  https://www.iex.nl/Valuta-Koers/190015675/GBP-EUR.aspx  

Valuta GBP/EUR  23 July 2018: Eur/GBP: 1,12, today, 23 July 2019: 1,1114. So, THB should strenghten the same towards GBP als €uro.

Only when you look a littlebit more back, you see the real disaster for the Brits.

 

[puipuitom]

1 hour ago, SheungWan said:

You think there are no Swiss banks in Frankfurt?

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https://en.wikipedia.org/wiki/List_of_banks_in_Germany  

[puipuitom]

5 hours ago, VocalNeal said:

Does Frankfurt have the same laws as the City of London. I doubt they will go anywhere. It would be like Swiss Banks going to Frankfurt.

Swiss and overseas banks[edit]

• Bank of Communications, Frankfurt
• Bank Sepah, Frankfurt
• Citibank Privatkunden, Düsseldorf (since December 2008 part of French Crédit Mutuel bank)
• Citigroup Global Markets Deutschland (Corporate Bank), Frankfurt
• Credit Suisse
• Goldman Sachs, Frankfurt
• ICICI Bank, Frankfurt
• JP Morgan, Frankfurt
• Lazard, Frankfurt
• Merrill Lynch, Frankfurt
• Mitsubishi UFJ, Frankfurt
• Mizuho Bank, Frankfurt
• Morgan Stanley
• National Bank of Pakistan, Frankfurt^[2]
• State Bank of India, Frankfurt
• Sumitomo Mitsui Financial Group, Frankfurt
• UBS AG, Frankfurt

[SheungWan]

 
Correct, so what was the the question put to the British people in the referendum. Well SW, let me remind you, as you seem to have a short memory.
 
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The question put is what was written down, not that spun out by a Hard Brexiteer Old Grumpy on Youtube.

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[SheungWan]

 
 
 Which economist do you recommend? 1/ Those who recommended us to join the Euro. 2/ those who were incapable of predicting the 2008 world economic crash, 3/ or perhaps those who predicted Financial Armageddon should the people vote for Brexit

Obviously the Hard Brexiteer ones who predicted Sterling would be OK.

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[Jonnapat]

No one should be the least surprised at sterling's further demise.

For a country in such a deep hole I'm afraid that things wil get worse until a no deal Brexit is voted down by parliament, if such a vote is even allowed.

[SheungWan]

I accept that none of the indicative votes produced a majority in parliament. I still believe this could be different when a compromise deal is tabled now. Either way, if there’s no majority for anything, it’d be the responsibility of government to call the whole thing off until something can be agreed on, rather than keeping the country in this limbo state.  

IMHO nothing changes until Parliamentary arithmetic changes.

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[Roy Baht]

The British have a right not to be ruled by foreigners. Just curious why so many Brexiteers choose to live in Thailand. You realize this place is run by foreigners, right?

[Jonnapat]

6 hours ago, JonnyF said:

It's really started to tank since those Machiavellian Remainers starting plotting to block No Deal. More uncertainty, and FX markets hate uncertainty as does business.

 

The likes of Grieve, Hammond, Stewart etc. should hang their heads in shame. 

 

Nonsense, actually. The people you mention happen to stand for what is obviously best for the country, individuals and businesses alike. 

If a no deal Brexit was ruled out today the likelihood would be that sterling would rise tomorrow. 

[Jonnapat]

8 hours ago, arithai12 said:

And 7% against the Baht.

And 30% against the baht since June 2016

[dunroaming]

8 hours ago, arithai12 said:

And 7% against the Baht.

In fairness it is the combination of a weak pound and a strong baht.

 

The pound will remain ludicrously low until "no-deal" is off of the table or a deal is finally done with the EU.  Then it will rise again.

[puipuitom]

11 minutes ago, Roy Baht said:

The British have a right not to be ruled by foreigners. Just curious why so many Brexiteers choose to live in Thailand. You realize this place is run by foreigners, right?

When I am not mistaken, it's a long time British are ruled by foreigners.

For the EU: it si a "government"by ALL EU member states, just like the UK is governed by a governmet with elected persons from eacht barony ( oh sorry: constituency) 

- EU council, composed of all heads of governement of all EU member states

- EU commission, with a commissioner of each EU member states

- EU parliament with.. again.. members from each member state, inclusive the UK.

 

 

 

[Proboscis]

But don't you see that this is just a scare story put about by the remainers. All those money-traders are euro-loving remainers and it is a conspiracy to tank Sterling. But don't worry, we Brexiteers will win out in the end. So what if we have to live on dry bread and water - we had worse during the war.

[OneMoreFarang]

1 hour ago, Henryford said:

We haven't got it yet. Imagine if the people of the USA voted for a Republican President 52/48 but the Democrats installed a Democrat President. How would they feel ?

Personally I think political parties pretend they are a lot more different then they are often are.

For me it's important to have competent people in charge. They must know what they do and think it through. And they must act according to what they say.

Let's forget about their actual politics for a moment: Trump is lying all the time and he changes his mind often radically from one day to the next. And he doesn't think things through. That is bad for the country.

And it seems Boris takes nothing serious and has this somehow-I-will-do-this attitude and until now he got away with this. We saw clearly that this can go very wrong when he was foreign secretary. It won't be easier if he is PM.

Where are the competent politicians?

And obviously they should also tell the people the truth. I.e. the Brexit which they promised a couple of years ago just doesn't exist. It's impossible to have only positive sides from a deal. It's time to tell the people clearly what they can expect realistically. It does not make sense to let people decide without knowing the facts. This is why we are where we are.

[robertson468]

10 hours ago, OneMoreFarang said:

The Brits get what they want...

(I am sorry for the people who voted remain and who have to live through this. It must be hard.)

And where are you from?  Many of us are very, very happy to get away from the yoke of France and Germany, the principle rulers of the EU.  Also, please explain to me why we need a European Government to govern every other Country in the EU.  Nothing more or less than a power grab and UK experienced this before and resisted it very successfully.  Common market I can understand, but billions of Euros on a second, higher Government to Govern my Government, c'mon it is nothing short of jobs for the Boys/Girls.

Edited July 23, 2019 by robertson468

[Laughing Gravy]

1 hour ago, Roy Baht said:

The British have a right not to be ruled by foreigners. Just curious why so many Brexiteers choose to live in Thailand. You realize this place is run by foreigners, right?

But we are not Thai citizens and have no voting rights and we have British passports or can't you comprehend that. You first sentence is spot on though.

[candide]

34 minutes ago, robertson468 said:

And where are you from?  Many of us are very, very happy to get away from the yoke of France and Germany, the principle rulers of the EU.  Also, please explain to me why we need a European Government to govern every other Country in the EU.  Nothing more or less than a power grab and UK experienced this before and resisted it very successfully.  Common market I can understand, but billions of Euros on a second, higher Government to Govern my Government, c'mon it is nothing short of jobs for the Boys/Girls.

Basically, it's about size and scale. And it's not going to improve from a single European country's perspective.

Edited July 23, 2019 by candide

[Pique Dard]

boris won't stay longer than theresa may at down street

[OneMoreFarang]

30 minutes ago, robertson468 said:

And where are you from?  Many of us are very, very happy to get away from the yoke of France and Germany, the principle rulers of the EU.  Also, please explain to me why we need a European Government to govern every other Country in the EU.  Nothing more or less than a power grab and UK experienced this before and resisted it very successfully.  Common market I can understand, but billions of Euros on a second, higher Government to Govern my Government, c'mon it is nothing short of jobs for the Boys/Girls.

I was born in the EU and have EU citizenship. I didn't visit the Europe for many years and in principle I shouldn't care what the UK does. If the people in the UK would be happier without the EU then they should be happy. But it seems the problem is that many people are misinformed. Lots of regulations are not EU regulations, they are UK regulations. And Boris, form the time when he was journalist, is very much to blame that many people are misinformed. The EU invested huge amounts of money into the UK including lots of areas where people voted for leave. Did they know that lots of investment in that area was from the EU and did they know that without the EU it will get worse?

Look at how erratic the UK government worked for the last years. Do you want more of the same? Do you think they will change in November and from then on all will be fine? And who will be your major trading partners? The USA? China? EU? Wouldn't it be great to have great trade agreements with those countries?

I understand that the EU is far away from perfect. But I don't see how the UK will make lots of things better than the EU without the EU. Do you think Boris will make the UK great again?

[sawadee1947]

9 hours ago, JonnyF said:

It's really started to tank since those Machiavellian Remainers starting plotting to block No Deal. More uncertainty, and FX markets hate uncertainty as does business.

 

The likes of Grieve, Hammond, Stewart etc. should hang their heads in shame. 

 

I like your kind of humor. You're a jolly fellow. ????

[metisdead]

A post containing a trolling representation of Boris's name has been removed.  If you do not want your post to be removed, please spell people's names correctly. 

[arithai12]

17 hours ago, Andrew65 said:

In the last year the Euro/Baht has gone from 39.06 to 34.62, a fall of almost 12%.

And?

The article mentioned the last 6 months. Shall we look what happened in the last 3, 5, 10 years?

All major currencies have been losing recently aganst the Baht, the GBP has lost more than others, fact, make what you want of it.