WOW! UK leaves EU!!!!!!!!!!!! BREXIT 2016! World markets fluctuating wildly!

[mr.turbo]

Chinese migrants are growing in numerical and financial significance and they are no longer predominantly from Hong Kong. Last year 40,000 Chinese migrants came to the UK - more than from any other country - in part due to a large number of students. The UK Higher Education Statistics Agency reported 47,740 Chinese students in UK higher education. Cambridge has the highest concentration of Chinese in Britain (3.6% of population) and significant clusters appear in Manchester, Newcastle, Nottingham, Oxford, Exeter, Liverpool, Sheffield, and Southampton – all cities with elite (Russell Group) universities.

http://www.runnymedetrust.org/blog/who-are-the-new-chinese-migrants-in-the-uk

still waiting to hear how this is going to effect immigration.

 

[mr.turbo]

Some comments on the official Chinese response. Seems the "gateway to Europe" is now shut. Big Chinese business will be seeking a new landing spot on their way into Europe.

“Some said that Great Britain, after 300 years of conquest, had colonies all over the world and was labeled “the empire on which the sun never sets,” it wrote in a Chinese-language editorial on the British vote result. “Today, it has returned to the starting point, and perhaps all that will remain in the end is that small bit that is England.”

http://www.wsj.com/articles/a-wrench-in-the-u-k-china-relationship-1466768571

 

[Kim Jong Bob]

Oi, EU:

ha

[El Diablo Blanco]

The Jewish elite is ALREADY acting as sore losers, figuring out ways to defy the will of the majority (52%).

Sigh.  The Jewish elite is already cashing in.  They were ready to short stocks and probably made billions.  Shows you how bullshit the stock market is in that nothing has even happened yet, just a vote yet stocks fell and the Sterling fell.  Just pure market manipulation.  They shorted the stocks, will buy when things are lower and make more profit on the upswing.

[Griffith]

Will the EU play nice with the U.K. Or give them the big fuck you on any deals.

They said they would make life as difficult as possible for them.

Make an example of them so others don't follow.

[Mr Anabolic]

coming soon to every mall in the UK

You mean... Every mall in the UK that sells gold and silver.

[denarii]

Cameron has been a good PM overall but made an error calling for the referendum in the first place. He went purely by the polls which predicted that people would vote to remain.
However, he should have known it was a massive gamble for a number of reasons -

1) Almost everyone over a certain age would vote to exit the EU. And older folk will produce a significantly higher turnout than younger voters.

2) Seniors within his own party will support Brexit.

3) Labour are currently run by a leader who himself is a Euro skeptic. Corbyn only supported to remain because he had to go with his party's choice. He was unenthusiastic and uninspiring during the campaign. Cameron should have been aware that he wouldn't get the strong support of the shadow leader.

4) Cameron should have put a rule in place which could override a Brexit victory. For instance, he could have said that in order to avoid a split of nations within the UK - if 2 of the 4 nations that make up the UK vote to remain, a Brexit victory would be declared as being void.

Cameron always liked playing a risky game. This was one risk too far.

He agreed it to appease his euro sceptic MPs who were worried about ukip. Ukip will put labour to the sword in the next election.

[El Diablo Blanco]

Fuckers are going to stop it. watch.

The referendum itself was advisory, rather than legally binding, and nothing was legally set in motion as a result of the vote.
Theoretically, the government could ignore the result, although doing so would presumably prompt an angry reaction from the 52% of Brits who voted to leave.

"The referendum doesn't itself trigger Brexit," said Kenneth Armstrong, professor of European law at the University of Cambridge. "It still requires the decision of a government."

Specifically, a Brexit requires the UK government to invoke Article 50 of the Treaty of Lisbon, the EU legislation governing a potential breakup

[El Diablo Blanco]

Other EU countries are already warning about the UK government not invoking Article 50 as a form of blackmail

meanwhile
http://www.irishtimes.com/news/politics/oireachtas/uk-rush-for-irish-passports-risks-overloading-system-says-minister-1.2701801

Please apply outside of summer season, Foreign Affairs Minister tells Brexit applicants .........

and
https://www.theguardian.com/business/2016/jun/27/property-and-financial-shares-slide-as-referendum-fallout-hits-stock-markets
The UK has been stripped of its last AAA rating as credit agency Standard & Poor’s warned of the economic, fiscal and constitutional risks the country now faces as a result of the EU referendum result......

Big mess.  a blind government that didn't think it would happen.  makes sense since the majority in London voted to stay but obviously the politicians didn't have a pulse on the rest of the country.

[fredrollon]

Britain will end up with European Free Trade Association (EFTA) .along iwth Norway and Switzerland.

The UK will regain control of its own fishing waters and get back its own seat at the WTO,and the ability to by itself negotiate trade deals with countries,outside the EU.

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


Another point, I think the EU really want the UK to invoke Article 50 ,for withdrawal. When this happens there is a fixed two year period for withdrawal,which can only be extended with the unanimous consent of all EU countries and .so,gives the EU greater negotiating strength

ie "If you want more time to hammer out a trade deal with us,UK.you have to give us more concessions."


 

[El Diablo Blanco]

The UK spent 20 years trying to get into the EEC aand then spent the next 40 years bellyaching about it so it probably  wont get a huge amount of sympathy for its special pleadings especially as it seems to think the only other members that matter are France and Germany, rarely paying attention to the other 24 members and some times oblivious that it sharea a land border with one of its major trading partners. 

Plus their reluctance to join the Euro and keep the Sterling.  This move always seemed like they wanted an easy out if they had the chance.  makes it tougher for countries like France or Germany to leave as they'd need to switch back to old currency.

[Wiggs]

I have no idea what happens next since scum is acting like scum and trying to usurp the win. What a fucking mess. Meanwhile back in the U.S...

[Papper]

Why? Norway and Switzerland are not in the EU and have the country's citizens have no great appetite to become full members of the EU. They have a free trade deal with them.

And Britain is not in the stagnating Euro currency zone,either.

Britain will be fine. People are so fucking scared and told what to think it's mindboggling. Like the EU is anythin other than a big sham. You can have all kinds of european initiatives and deal without letting power go to some cucks in brussels.

[El Diablo Blanco]

I have no idea what happens next since scum is acting like scum and trying to usurp the win. What a fucking mess. Meanwhile back in the U.S...

Years ago San Diego had a vote.  Prop 8 to Ban gay marriage.  It passed by a big margin, but then the court overturned it.  So the voice of the people means shit to politicians.

[local hero]

The England team has shown the rest of the country how its done, left the euro's early in true English style...

[Conker]

Fuckers are going to stop it. watch.

The referendum itself was advisory, rather than legally binding, and nothing was legally set in motion as a result of the vote.
Theoretically, the government could ignore the result, although doing so would presumably prompt an angry reaction from the 52% of Brits who voted to leave.

"The referendum doesn't itself trigger Brexit," said Kenneth Armstrong, professor of European law at the University of Cambridge. "It still requires the decision of a government."

Specifically, a Brexit requires the UK government to invoke Article 50 of the Treaty of Lisbon, the EU legislation governing a potential breakup

it wouldn't only be an angry reaction from the 52% that voted out . i voted remain but i would truly pssed if the government tried to not honour this result.

it's just a lot of BS talk, it would be political suicide for the conservative party not to act on the result of this referendum it was them that called it.

the only way the exit process will not start is if the EU offer a new deal which could then spark a new referendum. but that seems very unlikely at this stage.

[denarii]

why would 27 other members offer a special deal to the UK given it already has several special exceptions. What would the UK be giving in return?

no trade tarifs. we will call their bluffs and impose a 5% import tax on them.

[Fortress]

To be free and less economically prosperous is preferable to being restrained and directed but wealthy.

This is how real men feel.

[Conker]

why would 27 other members offer a special deal to the UK given it already has several special exceptions. What would the UK be giving in return?

well if we leave the EU and they start applying tariffs and hindering our trade with rest of the EU this will also hurt their own economies quite severely.

but on the other hand if we leave and they allow us to still trade freely with the rest of the EU, what message would this send the other EU members? the UK can stop paying the membership fee, stop following EU regulations but can still have all the trading benefits of the paid up members...this would spark an unravelling of the entire group.



so you see it would really be in their best interests if the UK didn't leave at all. But it looks like they have decided they will not offer any further concessions. no doubt as an warning to other members that they cannot be held to ransom.  

[fredrollon]

no trade tarifs. we will call their bluffs and impose a 5% import tax on them.

I might have already mentioned that Germany,the nation that calls the shot in the EU, last month had a $26 billion trade surplus with the UK.
The UK is the third largest export market for the Germans,after France and the US. I think the Germans would like this trade to continue.

Simple economic logic means if tariffs are imposed on British goods and the British economy tanks the Germans are going to be most hurt by the fallout:

EU referendum: Trade curbs 'foolish' if UK votes Leave, says German industry




I think there already seems to friction between Germany and her European partners as how to deal with the British:

EU: Britain must start exit process ‘as soon as possible’

Brexit: Angela Merkel pushes back on EU pressure for quick divorce

[Conker]

I might have already mentioned that Germany,the nation that calls the shot in the EU, last month had a $26 billion trade surplus with the UK.
The UK is the third largest export market for the Germans,after France and the US. I think the Germans would like this trade to continue.

Simple economic logic means if tariffs are imposed on British goods and the British economy tanks the Germans are going to be most hurt by the fallout:

EU referendum: Trade curbs 'foolish' if UK votes Leave, says German industry




I think there already seems to friction between Germany and her European partners as how to deal with the British:



Brexit: Angela Merkel pushes back on EU pressure for quick divorce


http://webcache.googleusercontent.com/search?q=cache:-Kvg4Q0a90QJEU: Britain must start exit process ‘as soon as possible’

nonsense. i'm sure the figs are something like 13% of German exports go to UK but around 45% of UK exports go to EU countries.

their losses will be diluted between 27 countries....ours won't.

[fredrollon]

nonsense. i'm sure the figs are something like 13% of German exports go to UK but around 45% of UK exports go to EU countries.

their losses will be diluted between 27 countries....ours won't.

Eh? Germany and the EU are two different things and that is the crux of the issue.

What is good for the Germany(which dominates the framing of EU policy) might not necessarily be good for the EU's weaker nations and for the EU as a whole

[Conker]

Eh? Germany and the EU are two different things and that is the crux of the issue.

What is good for the Germany(which dominates the framing of EU policy) might not necessarily be good for the EU's weaker nations and for the EU as a whole

Sorry dude I misread your original post. I thought you were saying Germany stands to lose more than we do.

[Conker]

what i kept hearing in the run up to this referendum was "oh well we import more from the EU than we export to them so it will hurt them more"

whilst failing to grasp that it's 45% of our total exports going to EU countries . whereas goods going to the UK may be 13% of German exports, 10 % of French, 10% of Italian etc etc

so if trade is disrupted it's a much smaller hit to each of the other countries than it will be to us.

[Simple Simon]

Lots of wasted political talent in this thread.