UK expats for EU exit

[mcfish]

Moody's downgrades UK credit outlook

Amid the confusion and uncertainty, credit agency Moody's announced it had downgraded the United Kingdom's credit outlook to "negative." It said the referendum result will lead to "a prolonged period of uncertainty for the UK, with negative implications for the country's medium-term growth outlook."

And this is just the beginning.

"During the several years in which the UK will have to renegotiate its trade relations with the EU,Moody's expects heightened uncertainty, diminished confidence," it said in a statement.

[kingalfred]

UK government can now borrow at just 1.08% for 10 years and at under 2% for 30 years, historic low borrowing rates. All the rest is temporary junk from losers

[buddy]

Well.......the turkeys voted for Christmas, they're going to get what they deserve.

Yes...we will get our sovereignty and democracy back from unelected Eurocrats.

[Boon Mee]

How The Times Have Changed

Kennedy - I am a Berliner - Ich Bin Ein Berliner A little over 29 years ago, on June 12, 1987 another US President stood with freedom and the West Germans.

Reagan at Brandenburg Gate - "tear down this wall" https://www.youtube.com/watch? v=YtYdjbpBk6A As of April 2016 we had this. A man who lectures our allies on their freedoms.

Oh yeah, on top of that he throws like a girl.

[ThaiPauly]

You are right that there will pain for UK expats who have the pensions or funds arriving here on a monthly basis and some tightening of belts will be required for some time in the future.

We did discuss this earlier and a number of people in this position thought it was a price worth paying in the short term, however long the short term is deemed to be for a better stronger position in the future, however long we deem that to be.

So why are you so assured that "Great" Britain will be stronger? Weak Pound will help exporters. Independent trade agreements will be negotiated from a position of weakness. Personally in two minds over being British and wanting the best for the Nation or watching Britain go down the tubes like history tells us most, if not all, empire building

Hnations seem to manage.

The EU is in the weak position, they never in their wildest dreams thought we would leave, un like you I have confidence in the UK to prosper in the future There were going to risks whatever the result, both would be speculative, in my view the greater risk for our democracy was to stay in. We are and always have been a trading nation, we wont suddenly stop that and to stop trading with the EU would simply not happen, they need to trade with us as much as we need to trade with them, we will make a deal, to do otherwise would the EU cutting off its nose to spite its face.

Dont forget that London is the worlds number one financial centre, that is not going to change.

I am optimistic for the future in the mid to long term, it may be a rough for the near future, I always expected that to be the case.

The markets got it wrong, the bookies got it wrong and a few posts back I told how the bookies could appear to be right and the referendum result could be different.

It is up to everyone now to adapt to the result.

HSBC pulling 2,000 jobs out of London, and that's just for starters. Your argument is flawed

[elliss]

Maybe , just maybe , without implementing article 50, for EU exit .

Cameron , will stand for re election , as the Tory leader, on the condition That

when he is elected he will demand a immediate referendum on EU membership .

We all know , what the outcome of that vote will be. IN .

ps . where is Farage hiding ?, probably in the south of France

Edited June 27, 2016 by elliss

[brewsterbudgen]

Well.......the turkeys voted for Christmas, they're going to get what they deserve.

Yes...we will get our sovereignty and democracy back from unelected Eurocrats.

The European Commission is appointed by elected Heads of State. All EU law has to be passed by the elected MEPs.

Is the House of Lords elected. Is the British Civil Service elected?

[elliss]

Well.......the turkeys voted for Christmas, they're going to get what they deserve.

Yes...we will get our sovereignty and democracy back from unelected Eurocrats.

Along, with mass unemployment bye bye , HSBC

[buddy]

Dont forget that London is the worlds number one financial centre, that is not going to change.

But it is already changing, friend.

Do you think the financial moguls will make any gift to Britain just to ridicule?

Do you think they will ease the pain to encourage other countries reject their plan in the same way?

No, of course.

This vote was brave but it will cost dearly British. This, I am absolutely certain

Your speculating.

[buddy]

Well.......the turkeys voted for Christmas, they're going to get what they deserve.

Yes...we will get our sovereignty and democracy back from unelected Eurocrats.

The European Commission is appointed by elected Heads of State. All EU law has to be passed by the elected MEPs.

Is the House of Lords elected. Is the British Civil Service elected?

YOU said it!

The European Commission is "APPOINTED"...this is the equivalent of appointing the MP's populating the Houses of Parliament who make all the laws but we cannot get rid of them every 5 years.

The EU Commission has the "sole right" to make laws in the EU and the European Joke of a travelling circus "Parliament" is just a rubber stamp body with no powers to make laws like a real parliament...big difference!

[buddy]

You are right that there will pain for UK expats who have the pensions or funds arriving here on a monthly basis and some tightening of belts will be required for some time in the future.

We did discuss this earlier and a number of people in this position thought it was a price worth paying in the short term, however long the short term is deemed to be for a better stronger position in the future, however long we deem that to be.

So why are you so assured that "Great" Britain will be stronger? Weak Pound will help exporters. Independent trade agreements will be negotiated from a position of weakness. Personally in two minds over being British and wanting the best for the Nation or watching Britain go down the tubes like history tells us most, if not all, empire building

Hnations seem to manage.

The EU is in the weak position, they never in their wildest dreams thought we would leave, un like you I have confidence in the UK to prosper in the future There were going to risks whatever the result, both would be speculative, in my view the greater risk for our democracy was to stay in. We are and always have been a trading nation, we wont suddenly stop that and to stop trading with the EU would simply not happen, they need to trade with us as much as we need to trade with them, we will make a deal, to do otherwise would the EU cutting off its nose to spite its face.

Dont forget that London is the worlds number one financial centre, that is not going to change.

I am optimistic for the future in the mid to long term, it may be a rough for the near future, I always expected that to be the case.

The markets got it wrong, the bookies got it wrong and a few posts back I told how the bookies could appear to be right and the referendum result could be different.

It is up to everyone now to adapt to the result.

HSBC pulling 2,000 jobs out of London, and that's just for starters. Your argument is flawed

No they haven't done that!...your doom and gloom is not justified.

[buddy]

More jobs being created in Britain by the Brexit boost -

http://www.thisismoney.co.uk/money/markets/article-3497621/Boeing-s-Brexit-boost-World-s-largest-aircraft-maker-picks-Britain-home-new-European-headquarters.html

[Mark123456]

More jobs being created in Britain by the Brexit boost -

http://www.thisismoney.co.uk/money/markets/article-3497621/Boeing-s-Brexit-boost-World-s-largest-aircraft-maker-picks-Britain-home-new-European-headquarters.html

That news article is from three months ago - how can you claim those jobs were created by the UK leaving the EU?

[Mark123456]

Dont forget that London is the worlds number one financial centre, that is not going to change.

But it is already changing, friend.

Do you think the financial moguls will make any gift to Britain just to ridicule?

Do you think they will ease the pain to encourage other countries reject their plan in the same way?

No, of course.

This vote was brave but it will cost dearly British. This, I am absolutely certain

Your speculating.

No he isn't

http://www.ft.com/cms/s/0/a3a92744-3a52-11e6-9a05-82a9b15a8ee7.html#axzz4CvJg0nYZ

Edited June 29, 2016 by Mark123456

[KarenBravo]

Well.......the turkeys voted for Christmas, they're going to get what they deserve.

Yes...we will get our sovereignty and democracy back from unelected Eurocrats.

And also more unemployment, more expensive food, no more free movement, sterling going into the toilet etc. etc. etc.

Brexit supporters just didn't think things through. All that concerned them was immigration.

You are celebrating the winning of a battle, but, still don't understand that you have lost the war......

Edited June 29, 2016 by KarenBravo

[rwdrwdrwd]

More jobs being created in Britain by the Brexit boost -

http://www.thisismoney.co.uk/money/markets/article-3497621/Boeing-s-Brexit-boost-World-s-largest-aircraft-maker-picks-Britain-home-new-European-headquarters.html

Vodafone rethinks London headquarters after Brexit vote - http://www.ft.com/cms/s/0/3b3b7c04-3d5c-11e6-8716-a4a71e8140b0.html#axzz4CwPem95a

London to Lose Tens of Thousands of Jobs After Brexit - http://fortune.com/2016/06/24/london-brexit-jobs/

[mcfish]

Richard Branson pulls out of a major deal losing 3000 jobs today as well. Forgot where I read it though

[Ricardo]

Richard Branson pulls out of a major deal losing 3000 jobs today as well. Forgot where I read it though

That's sad news for the B.V.I. tax-authorities !

[rwdrwdrwd]

Not as sad as for the 3000 human beings.

[nong38]

You are right that there will pain for UK expats who have the pensions or funds arriving here on a monthly basis and some tightening of belts will be required for some time in the future.

We did discuss this earlier and a number of people in this position thought it was a price worth paying in the short term, however long the short term is deemed to be for a better stronger position in the future, however long we deem that to be.

So why are you so assured that "Great" Britain will be stronger? Weak Pound will help exporters. Independent trade agreements will be negotiated from a position of weakness. Personally in two minds over being British and wanting the best for the Nation or watching Britain go down the tubes like history tells us most, if not all, empire building

Hnations seem to manage.

The EU is in the weak position, they never in their wildest dreams thought we would leave, un like you I have confidence in the UK to prosper in the future There were going to risks whatever the result, both would be speculative, in my view the greater risk for our democracy was to stay in. We are and always have been a trading nation, we wont suddenly stop that and to stop trading with the EU would simply not happen, they need to trade with us as much as we need to trade with them, we will make a deal, to do otherwise would the EU cutting off its nose to spite its face.

Dont forget that London is the worlds number one financial centre, that is not going to change.

I am optimistic for the future in the mid to long term, it may be a rough for the near future, I always expected that to be the case.

The markets got it wrong, the bookies got it wrong and a few posts back I told how the bookies could appear to be right and the referendum result could be different.

It is up to everyone now to adapt to the result.

HSBC pulling 2,000 jobs out of London, and that's just for starters. Your argument is flawed

I have been away a week but now I am back so answer your question the HSBC is not now pulling 2000 staff out and sending them to Europe, they are staying in the UK.

[nong38]

More jobs being created in Britain by the Brexit boost -

http://www.thisismoney.co.uk/money/markets/article-3497621/Boeing-s-Brexit-boost-World-s-largest-aircraft-maker-picks-Britain-home-new-European-headquarters.html

Vodafone rethinks London headquarters after Brexit vote - http://www.ft.com/cms/s/0/3b3b7c04-3d5c-11e6-8716-a4a71e8140b0.html#axzz4CwPem95a

London to Lose Tens of Thousands of Jobs After Brexit - http://fortune.com/2016/06/24/london-brexit-jobs/

Pure speculation and scaremongering, there is no place like London it is the financial hub, here are a few facts from the web, you can look them if you doubt them but here they are.

London is the worlds number financial centre, New York is 2nd and Singapore 3rd, in Europe Zurich is number 6 and you will notice that they are not in the EU, in the EU we have Luxembourg at 10, Frankfurt at 18, Munich at 27 and Paris at 32. No contest, pure minnows, all the EU lot and they are jealous of what we have.

As far as Forex is concerned ( foreign exchanges) London handles 40% of the worlds transactions, New York 19% and Singapore 6%.

You think all that is going to change because the British people saw the light and bailed out of a sinking ship?

"I hope no one is stupid enough to write us off!" Brian Clough.

[nong38]

I see the ftse 100 is at its highest level since 2011, which is good news but the more representative 250 is still 5% down, the £ is still down but I noticed it rise every day on the exchange sites in Pattaya, yesterday it was at 47.40, not at all the doom and gloom of a couple of years ago when we down at 43 and in the EU.

[Ricardo]

I'm 95% out of the UK/Sterling, and have been for a decade or more, since my only UK-expenses now are a credit-card & spending-money on the occasional holiday-visit, but I still watch it as I often 'think' in Sterling.

My main investments are US$-denominated, so I do watch the US$:GBP rate closely.

Pre-vote it was knocking on 1.52, it's currently this weekend 1.32695 on xe.com, that's roughly 12% down against the world's main trading-currency.

Happily I bought $20k's worth of Sterling at an actual-rate of 1.375 just after the vote, that will cover my next few years' requirements & at a 31-year-low price, until my meagre UK-pensions start to flow.

But I do feel sorry for anyone who didn't lock-in the funds to buy their Thai holiday/retirement-home pre-Brexit, or who has to fund their holiday-trips from the UK, I foresee a rise in cheap-charlie threads.

There's no denying that a 10+% fall, against the world's biggest trading-currency, is going to cause UK high-street prices to rise, and a lot of economic-pain there over the next few years.

On the other hand, I still don't regard it as certain, that the UK will actually withdraw from the EU, despite the Brexit-vote. There's still plenty of scope (and reasons) for volatility over the next several months.

[MissAndry]

There's no denying that a 10+% fall, against the world's biggest trading-currency, is going to cause UK high-street prices to rise, and a lot of economic-pain there over the next few years.

Amazon.com and Amazon.co.uk often have the same items at nearly the the same number, be it USD or GBP.

No need for price rises, if the exchange rates vary.

(for example Kindle PaperWhite 3g, 179GBP, 189USD)

Edited July 3, 2016 by MissAndry

[nong38]

Its to early to tell what the rate range the £ will fall into and it will vary as conditions around the globe change.

As far as High Street prices are concerned retailers will be reluctant to raise prices as it will drive customers elsewhere where retailers have absorbed the costs, cuts in margin, efficiency drives and stopping recruiting staff, better deals from suppliers.

[Naam]

I see the ftse 100 is at its highest level since 2011, which is good news but the more representative 250 is still 5% down, the £ is still down but I noticed it rise every day on the exchange sites in Pattaya, yesterday it was at 47.40, not at all the doom and gloom of a couple of years ago when we down at 43 and in the EU.

when £1 bought 36, 90, 80, 70, 60 and 50 UK was an EU-member, is still a member today and for at least a few years to come.

[Jip99]

I'm 95% out of the UK/Sterling, and have been for a decade or more, since my only UK-expenses now are a credit-card & spending-money on the occasional holiday-visit, but I still watch it as I often 'think' in Sterling.

My main investments are US$-denominated, so I do watch the US$:GBP rate closely.

Pre-vote it was knocking on 1.52, it's currently this weekend 1.32695 on xe.com, that's roughly 12% down against the world's main trading-currency.

Happily I bought $20k's worth of Sterling at an actual-rate of 1.375 just after the vote, that will cover my next few years' requirements & at a 31-year-low price, until my meagre UK-pensions start to flow.

But I do feel sorry for anyone who didn't lock-in the funds to buy their Thai holiday/retirement-home pre-Brexit, or who has to fund their holiday-trips from the UK, I foresee a rise in cheap-charlie threads.

There's no denying that a 10+% fall, against the world's biggest trading-currency, is going to cause UK high-street prices to rise, and a lot of economic-pain there over the next few years.

On the other hand, I still don't regard it as certain, that the UK will actually withdraw from the EU, despite the Brexit-vote. There's still plenty of scope (and reasons) for volatility over the next several months.

For the most part in June GBP/USD was trading below 1.45. Only the spike anticipating a remain vote took it towards 1.52.

At 1.33 that is less than 8% down - not the worse place to be after a week. Especially when Remainers were talking of a 20% hit !!

Do you really think that major businesses have not hedged the possibility of a hit on rates ?

Most will have done and those that haven't have only themselves to blame for the uncompetitive position they will find themselves in.

Small businesses that may be affected by foreign exchange rates just need to hold their nerve for a while.

[GuestHouse]

For the most part in June GBP/USD was trading below 1.45. Only the spike anticipating a remain vote took it towards 1.52.

At 1.33 that is less than 8% down - not the worse place to be after a week. Especially when Remainers were talking of a 20% hit !!

Do you really think that major businesses have not hedged the possibility of a hit on rates ?

Most will have done and those that haven't have only themselves to blame for the uncompetitive position they will find themselves in.

Small businesses that may be affected by foreign exchange rates just need to hold their nerve for a while.

You have the right 'technical language' and given a cursory glance your words appear authoritative and comforting, but they do not stand close scrutiny.

For businesses in wide international markets hedging against currency fluctuations can only at best be a short term strategy. Moving half of cash out of sterling over the last few days of the Referendum would have been sensible - but it is not a strategy that can be applied to a long term drop in a businesses host trading currency.

Holding one's nerve for a while makes sense if there is good reason to believe the currency will rebound. If not holding one's nerve is simply putting off the inevitable.

[nong38]

Now the EU have finally come clean on their debts which they have been unable to get audited for the past 20 years, there is a black hole of £259B and it looks like the UK will have to dig in to the tune of £34B, this naturally will affect jobs or anything like that because we have lots of money for such emergencies, right?

Now do you understand why we must leave this cozy little club who cannot manage their own affairs, it is they who destroy jobs and will continue to destroy them on the continent long after we have left, somehow I dont think we will be the last. The only countries that will want to join the EU are the debt ridden ones.

[wooloomooloo]

Richard Branson pulls out of a major deal losing 3000 jobs today as well. Forgot where I read it though

I read this article in a UK newspaper.

Unfortunately, the article and indeed Richard Branson were lacking specific details as to what this 'major deal' actually entailed.

So, I'm quite sure that Branson was on a face-saving mission after his remain stance and I'm safely calling BS on this one.

Edited July 3, 2016 by wooloomooloo