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.

Sounds good on paper .

However , there is not going to be a UK exit from EU .

Theresa May , push the Red Button ,, NO WAY .

FYI , Democracy , has its inbuilt limitations . Time will tell ?

JC Die, asap. please ..same Labour party .

Iraq war , inquiry , published soon ,, Guess what ,

DCameron ,soon to be knighted ,Cannon fodder , RIP .

Now , do you understand . ???

Edited July 3, 201610 yr by elliss

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.

Sounds good on paper .

However , there is not going to be a UK exit from EU .

Theresa May , push the Red Button ,, NO WAY .

FYI , Democracy , has its inbuilt limitations . Time will tell ?

JC Die, asap. please ..same Labour party .

Iraq war , inquiry , published soon ,, Guess what ,

DCameron ,soon to be knighted ,Cannon fodder , RIP .

Now , do you understand . ???

What is your point in plain English ?

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.

Sounds good on paper .

However , there is not going to be a UK exit from EU .

Theresa May , push the Red Button ,, NO WAY .

FYI , Democracy , has its inbuilt limitations . Time will tell ?

JC Die, asap. please ..same Labour party .

Iraq war , inquiry , published soon ,, Guess what ,

DCameron ,soon to be knighted ,Cannon fodder , RIP .

Now , do you understand . ???

What is your point in plain English ?

I'm not certain that you'll get a sensible reply on this one.

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.

What you say is perfectly true the City is by far the first world financial center.

This colossal business brings each year tens of billions in the United Kingdom in profit and tax revenue.

They will not disappear completely, but the 27 fully intend to recover the majority of these exchanges denominated in Euro. It was announced by the French Francois Hollande at the exit of the first post Brexit meeting on last 29 June.

That is why the scenes we rub our hands at the prospect of this very large unexpected cake.

That is why the Commission also press Britain from the earliest.

Good luck buddies, and thank you again!

Edited July 3, 201610 yr by happy Joe

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.

Of course Jip is right that major businesses have hedged their net currency-receipts/payments forward to reduce risk, in fact my first 'proper' job was as a (very junior) Currency-Accountant for a Unilever operating-company, working in coordination with their central Treasury-Department up at Blackfriars. So the effects of the fall will only come through over the next several months.

As a UK airline-accountant a decade later, I know we used to hedge fuel & (some) lease-payments up to a year ahead, so ditto.

But for small businesses who import some/most of their products, they will need an immediate price-increase to cover the fall in Sterling, the alternative of knowingly selling at below replacement-cost (plus overheads) for several months, in the (possibly vain) hope that the Pound would rebound all-the-way-back, that wouldn't be "holding their nerve for a while", it would be a possibly-suicidal gamble !

"A law firm is taking action to ensure the formal process for the UK leaving the EU is not started without an act of Parliament.

Mishcon de Reya, lawyers acting for a group of business people and academics, said it would be unlawful for a prime minister to trigger Article 50 without a full debate and vote in Parliament. "

http://www.bbc.com/news/uk-politics-36700350

"A law firm is taking action to ensure the formal process for the UK leaving the EU is not started without an act of Parliament.

Mishcon de Reya, lawyers acting for a group of business people and academics, said it would be unlawful for a prime minister to trigger Article 50 without a full debate and vote in Parliament. "

http://www.bbc.com/news/uk-politics-36700350

Well I am no lawyer but its seems that it would be totally wrong for Parliament to over rule the wishes of the people and that seems to be what the end game is here, it seems that some on the remain camp are so in bed with the EU that will try anything they can to overturn the will of the people which I find very sad and nothing to do with democracy, some people just cant accept what the Government have accepted, the decision of the UK voters.

Mishcon de Reya, lawyers acting for a group of business people and academics, said it would be unlawful for a prime minister to trigger Article 50 without a full debate and vote in Parliament. "

They don't sound all that British, escort them and all their staff to the airport, tell them they can start anything they like in their home country.

Edited July 4, 201610 yr by MissAndry

Mishcon de Reya, lawyers acting for a group of business people and academics, said it would be unlawful for a prime minister to trigger Article 50 without a full debate and vote in Parliament. "

They don't sound all that British, escort them and all their staff to the airport, tell them they can start anything they like in their home country.

That would be the company started by Lord Mishcon who was born in Brixton?

Mishcon de Reya, lawyers acting for a group of business people and academics, said it would be unlawful for a prime minister to trigger Article 50 without a full debate and vote in Parliament. "

They don't sound all that British, escort them and all their staff to the airport, tell them they can start anything they like in their home country.

So you suggest people are thrown out of the UK on the basis that you don't think they sound British, while you tell us you are not a xenophobe or a racist.

"A law firm is taking action to ensure the formal process for the UK leaving the EU is not started without an act of Parliament.

Mishcon de Reya, lawyers acting for a group of business people and academics, said it would be unlawful for a prime minister to trigger Article 50 without a full debate and vote in Parliament. "

http://www.bbc.com/news/uk-politics-36700350

Well I am no lawyer but its seems that it would be totally wrong for Parliament to over rule the wishes of the people and that seems to be what the end game is here, it seems that some on the remain camp are so in bed with the EU that will try anything they can to overturn the will of the people which I find very sad and nothing to do with democracy, some people just cant accept what the Government have accepted, the decision of the UK voters.

You are correct.

You're no lawyer.

So you suggest people are thrown out of the UK on the basis that you don't think they sound British, while you tell us you are not a xenophobe or a racist.

I have never told you any such thing.

My posts are about Brexit voters, I am not one of them, I didn't vote.

But if I were a racist, I would probably not choose to live in London surrounded by black people, or Thailand surrounded by brown people.

Edited July 4, 201610 yr by MissAndry

So you suggest people are thrown out of the UK on the basis that you don't think they sound British, while you tell us you are not a xenophobe or a racist.

I have never told you any such thing.

My posts are about Brexit voters, I am not one of them, I didn't vote.

But if I were a racist, I would probably not choose to live in London surrounded by black people, or Thailand surrounded by brown people.

I have no idea why you choose to live in London/Thailand, or even if you do live in London/Thailand. I do know, because you wrote the words yourself, that you have suggested people should be thrown out the UK on the basis that you don't think their names sound 'British'.

Wriggle as you wish.

Mishcon de Reya, lawyers acting for a group of business people and academics, said it would be unlawful for a prime minister to trigger Article 50 without a full debate and vote in Parliament. "

They don't sound all that British, escort them and all their staff to the airport, tell them they can start anything they like in their home country.

Xenophobia is precisely that.

"A law firm is taking action to ensure the formal process for the UK leaving the EU is not started without an act of Parliament.

Mishcon de Reya, lawyers acting for a group of business people and academics, said it would be unlawful for a prime minister to trigger Article 50 without a full debate and vote in Parliament. "

http://www.bbc.com/news/uk-politics-36700350

The money is starting to squirm.

"A law firm is taking action to ensure the formal process for the UK leaving the EU is not started without an act of Parliament.

Mishcon de Reya, lawyers acting for a group of business people and academics, said it would be unlawful for a prime minister to trigger Article 50 without a full debate and vote in Parliament. "

http://www.bbc.com/news/uk-politics-36700350

The money is starting to squirm.

Edited July 4, 201610 yr by brexiteer

Boris and Farage , have done runners.

Fine mess , they have put us in.

Boris and Farage , have done runners.

Fine mess , they have put us in.

Boris was stabbed in the back by Gove. Et Tu Gove.

I am not sure if you had noticed but Nigel Farage is not a member of the UK parliament but is a member of the EU parliament where he will remain until the UK leaves the EU.

He has spent 15 years or more trying to get the UK out of the EU and had done a good job.

A referendum was held and the result was a vote in favour of the UK leaving.

This is called a democratic vote and should be respected by ALL of those who voted, win or lose.

If you cannot accept that then perhaps you should think again about democracy in which the majority vote is accepted.

It appears that one of the people behind the lawyers who are looking into the possibility of having the referendum result debated in Parliament is non other than that larger then life Labour MP from north London Mr Lammy. Mr Lammy you may recall was elected on the principal that he got the most votes and therefore won the right to represent his constituency in the House of Commons, perhaps lawyers should look into his result or is one rule for one and one for another?

The possibility of this being brought in front of the courts and behind Mr Lammy are a host of big business who think they are going to lose out now that we are leaving the EU, people who cannot adapt to an ever changing world.

I look on with interest when the true constitutional position is revealed when I suspect that this latest ruse by the bad losers will thrown into the bin and Derek Lammy will shown to be the fool that he is.

I would also like to make a comment on the European workers in the UK who must wonder what all this is going to mean for them. I would hope that all of them in work, some with families here as well would be allowed to stay, I had never thought that they would be asked to leave and I am sure that that is what will happen whoever has to make the call, similarly UK nationals living on the continent who are now worried about their future, I would hope the choice would be up to them whether they stay where they are or come home. The last thing I would want to see is intimidation and the like so that they feel they have to leave, we are better than that, many have been in the UK for a long time and deserve to stay as they call it home now and I would that future administrations would always see it that way.

I would also like to make a comment on the European workers in the UK who must wonder what all this is going to mean for them. I would hope that all of them in work, some with families here as well would be allowed to stay, I had never thought that they would be asked to leave and I am sure that that is what will happen whoever has to make the call, similarly UK nationals living on the continent who are now worried about their future, I would hope the choice would be up to them whether they stay where they are or come home. The last thing I would want to see is intimidation and the like so that they feel they have to leave, we are better than that, many have been in the UK for a long time and deserve to stay as they call it home now and I would that future administrations would always see it that way.

Yes, it must be a worrying time for many people. What a mess!

Boris and Farage , have done runners.

Fine mess , they have put us in.

Boris was stabbed in the back by Gove. Et Tu Gove.

I am not sure if you had noticed but Nigel Farage is not a member of the UK parliament but is a member of the EU parliament where he will remain until the UK leaves the EU.

He has spent 15 years or more trying to get the UK out of the EU and had done a good job.

A referendum was held and the result was a vote in favour of the UK leaving.

This is called a democratic vote and should be respected by ALL of those who voted, win or lose.

If you cannot accept that then perhaps you should think again about democracy in which the majority vote is accepted.

please don't forget that in a "real" democracy decisions with huge and far reaching consequences need a majority of two thirds or even 75%. the Brexit margin was very low.

please don't forget that in a "real" democracy decisions with huge and far reaching consequences need a majority of two thirds or even 75%. the Brexit margin was very low.

Your statement of "real" democracy makes you look as conceited as many of the other posters on here, I had thought better of you. Also the vote was a referendum and in no way legally binding, that's the way things work in the UK........ Just as a matter of interest how many Germans would vote for the kind of integration that the EU is foisting on its members......75%??????????

Edited July 5, 201610 yr by RabC

I would also like to make a comment on the European workers in the UK who must wonder what all this is going to mean for them. I would hope that all of them in work, some with families here as well would be allowed to stay, I had never thought that they would be asked to leave and I am sure that that is what will happen whoever has to make the call, similarly UK nationals living on the continent who are now worried about their future, I would hope the choice would be up to them whether they stay where they are or come home. The last thing I would want to see is intimidation and the like so that they feel they have to leave, we are better than that, many have been in the UK for a long time and deserve to stay as they call it home now and I would that future administrations would always see it that way.

Yes, it must be a worrying time for many people. What a mess!

With the best of intentions the divorce will be as amicable as possible, that I guess is up to the EU, if they try and punish the UK that will only make matters worse for everyone, the Poles have warned against this and the Germans want a good deal with the UK. Whilst the UK has said it will set up a Tax Haven on the EUs doorstep if things are not sorted out properly, in the meantime we are in uncharted waters, but the Australians, Indians, New Zealanders and Mexico want a trade deal now, so I think things are looking better. It will look a lot better when Borat Obama leaves office and we deal with someone who wants a deal with the UK. Worst American President since Jimmy Carter, what did he say "yes we can!" Talk the talk cant walk the walk, job is to big for him.

Need to get rid of that ECHR as well so we deport those we dont want, criminals not workers just so you get my drift.

Your sarcasm by the way is not required, you really must get used to the post referendum world, being a mardy boy will change things.

Boris and Farage , have done runners.

Fine mess , they have put us in.

Boris was stabbed in the back by Gove. Et Tu Gove.

I am not sure if you had noticed but Nigel Farage is not a member of the UK parliament but is a member of the EU parliament where he will remain until the UK leaves the EU.

He has spent 15 years or more trying to get the UK out of the EU and had done a good job.

A referendum was held and the result was a vote in favour of the UK leaving.

This is called a democratic vote and should be respected by ALL of those who voted, win or lose.

If you cannot accept that then perhaps you should think again about democracy in which the majority vote is accepted.

please don't forget that in a "real" democracy decisions with huge and far reaching consequences need a majority of two thirds or even 75%. the Brexit margin was very low.

" need a majority of two thirds or even 75% "

please cite the legal precedent in the UK to support such an absurd statement

Edited July 5, 201610 yr by Asiantravel

Boris was stabbed in the back by Gove. Et Tu Gove.

I am not sure if you had noticed but Nigel Farage is not a member of the UK parliament but is a member of the EU parliament where he will remain until the UK leaves the EU.

He has spent 15 years or more trying to get the UK out of the EU and had done a good job.

A referendum was held and the result was a vote in favour of the UK leaving.

This is called a democratic vote and should be respected by ALL of those who voted, win or lose.

If you cannot accept that then perhaps you should think again about democracy in which the majority vote is accepted.

please don't forget that in a "real" democracy decisions with huge and far reaching consequences need a majority of two thirds or even 75%. the Brexit margin was very low.

" need a majority of two thirds or even 75% "

please cite the legal precedent in the UK to support such an absurd statement

i was talking of "real democracies" in general; not UK specific and answering the general comment

you should think again about democracy in which the majority vote is accepted

claiming that my statement is absurd only demonstrates your ignorance.

one UK specific example where a 2/3 majority is required:

a motion for a general election is agreed by two thirds of the total number of seats in the Commons including vacant seats (currently 434 out of 650)

http://www.parliament.uk/about/how/elections-and-voting/general/

i'm sure that's not the only one!

From the presses South Korea now wants a trade deal with the UK and General Electric says the UK is great place to do business, S&P also say that the scaremongering has been overdone and they expect things to getting better by 2018, that is speculation the 2018 of course but optimism is around for those who want to see it.

one UK specific example where a 2/3 majority is required:

a motion for a general election is agreed by two thirds of the total number of seats in the Commons including vacant seats (currently 434 out of 650)

http://www.parliament.uk/about/how/elections-and-voting/general/

i'm sure that's not the only one!

You refer to a vote of no confidence which would be unlikely to be successful, the combined opposition could not muster 434 votes, so it would only brought as a voting tactic without any chance of success.

Edited July 5, 201610 yr by nong38

Boris and Farage , have done runners.

Fine mess , they have put us in.

Boris was stabbed in the back by Gove. Et Tu Gove.

I am not sure if you had noticed but Nigel Farage is not a member of the UK parliament but is a member of the EU parliament where he will remain until the UK leaves the EU.

He has spent 15 years or more trying to get the UK out of the EU and had done a good job.

A referendum was held and the result was a vote in favour of the UK leaving.

This is called a democratic vote and should be respected by ALL of those who voted, win or lose.

If you cannot accept that then perhaps you should think again about democracy in which the majority vote is accepted.

please don't forget that in a "real" democracy decisions with huge and far reaching consequences need a majority of two thirds or even 75%. the Brexit margin was very low.

" need a majority of two thirds or even 75% "

please cite the legal precedent in the UK to support such an absurd statement

I believe he used his personal definition of a "real" democracy.

I don't believe that the UK needs any lessons in responsible democracy particularly from some Continental Europeans who have only recently been exposed to the concept after democratic countries shed a considerable amount of blood to give it to them.

That being said, this Brexit negativity is somewhat overblown. It would have been far better if the UK stayed in. Unfortunately, France, Belgium and Italy were never going to allow the UK to defend itself from the abuses of its system. At the heart of it, is the disgusting tyrant Junckers. He's had it in for the UK for years and provoking the UK was his intent. He couldn't run the wannabe nation of Luxembourg, but he could turn it in to the EU's money laundering and tax avoidance mecca. He has never forgiven the UK for its alleged involvement the in exposing of his disgusting activities.

The issue of Brexit is not over. Several EU friends of the UK support the UK. The most vocal is Poland. It has economic reasons to do so, but the Poles are loyal allies despite all the rude jokes and comments made about them. Both the Dutch and Danes are quietly supporting the UK. It is only Junckers and the basket case countries of France and Belgium and the unreliable Italians who are pushing for a quick exit. Hopefully the German finance minister, the brilliant Dr, Wolfgang Schauble prevails with the logical Dr. Merkel and a revised deal is made. I am certain that there will be a new deal. The support for Brexit has evaporated since the vote and a new deal would give both sides an honourable way out of this mess and more importantly address the concerns the UK has and which are shared by many EU member nations. Dr, Merkel knows this. She's a scientist and understands facts. The Germans will act to save the EU despite the best efforts of the French and Belgians and the crappy little city states in between to stick it to the UK. As for Italy, if it values its trade relations with the USA and Canada it will support the German efforts at making a new deal. with the UK. Europe cannot sustain the negaive fallout if the EU starts to splinter.

From the presses South Korea now wants a trade deal with the UK and General Electric says the UK is great place to do business, S&P also say that the scaremongering has been overdone and they expect things to getting better by 2018, that is speculation the 2018 of course but optimism is around for those who want to see it.

I almost overlooked this one:-

Trust me, if there was a whiff of uncertainty about the future HSBC would have been off.

HSBC to keep London HQ despite Brexit

Jul 1, 2016

Douglas Flint gives his backing to UK, saying 'markets go where the expertise and liquidity are'

http://www.theweek.co.uk/hsbc/63926/does-hsbcs-099-mortgage-rate-show-market-has-peaked