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So Micky, you have finally admitted that it is business interests NOT governments who most influence what us happening in their own country, which is why corruption is rife in some.
Do you really think the likes of Siemens, Mercedes, VW, BMW, Bosch etc. Are going to be advised by Mrs Merkel, who may not even be in power next year, to stop dealing with one of their biggest overseas markets.
i also believe that the UK is the second biggest consumer of French champagne.
Merkel, Hollande even Junckers can pontificate as much as they wish to try to ensure other EU Countries do not cotton on to the corruption and bad practices of the EU and have their own Exits.
British voters have fortunately seen through to smoke and mirrors, eventually European voters will also wake up and smell the coffee.
You only have to look at results in recent elections in many European countries.
People power is actually on the rise.
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Bleeding Hell
Sterlings now at PARITY day's low: 1.0600
Glad I have no money I wouldnt be able to sleep at night
Love Hugh xx
This message was last edited by hughjardon on 07/10/2016.
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Done the Spain thing Happier in the UK
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just had a call from a friend who is at Gatwick and £1 = 98c
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“The greatest enemy of knowledge is not ignorance; it is the illusion of knowledge”
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Apparently a middle east computer cock up reduced sterling by 10% against the US dollar, it should now be trading at circa 1.10€ to the £.
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Better to have Rupee, many use as local currency in Bradford. It has been stable against Euro for last 4 years. I don't think BREXIT will be detrimental.
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Hugh wrote:
Do you really think the likes of Siemens, Mercedes, VW, BMW, Bosch etc. Are going to be advised by Mrs Merkel, who may not even be in power next year, to stop dealing with one of their biggest overseas markets.
No they won't but business does not decide the politics. The market will decide the level of trade when tariffs are imposed by both sides. Even with Sterling at parity British exported goods will still be expensive with average trade tariffs of between 15 and 20% added. It depends on what deals can be obtained when the WTO wrangling begins.
French Champagne will be even more ludicrously expensive than it already is.
The truth is the ForeX market has finally realised the implications of Brexit and Sterling is done for.
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Time is the school in which we learn
Time is the fire in which we burn.
Delmore Schwartz.
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Mickyfinn said "Sterling is done for"
Well it's still 4th in the top 10, South Korea is10th, do you envisage Sterling slipping below the won?
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In the event the UK becomes subject to import and export duties then for imports prices to the comsumer will go up so the loser will be the UK consumers
Many companies who have manufacturing plants in the UK with the majority of their goods being exported to the EU will consider 2 things
1. Relocate their manufacturing to within the EU zone
2. Investment in UK plants will decline and any manufacturing sites will slowly dissappear
Many have already stated this so the UK must maintain a single market free trade and free movemnt etc.
For those who have concerns about migrants claiming benefit or UK jobs - change the UK laws on who is entitled to benefits, make in contribution based like Spain
Get the lazy UK beneift scroungers into work even if it is low paid (minimum wage)
why should the tax payer give anyone a free ride.
The UK needs to change and the tax payer should be screaming at the govt about the cost of welfare benefits to lazy UK citizens as this is the biggest cost
No excuse for being on benefits if fit and able to do a job for more than 12 months
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“The greatest enemy of knowledge is not ignorance; it is the illusion of knowledge”
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The four freedoms of the EU clash head on with May's red lines. I see no room for compromises. The negotiations are pointless given this wide gulf and will simply drag out the agony.
Had the EU been willing to make compromises they would have given Cameron a bone to fight the referendum on. As it is they share some of the blame for Brexit. It's bad politics and poor statesmanship. Politics when I was at Uni. were always said to be about the art of the possible. If that still holds true then Britain’s demands were always an impossible ask. They were impossible then and they are impossible now. Cameron should have known that before he started the process.
The markets seem also to have excepted that principle this week. Let the pain begin.
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Time is the school in which we learn
Time is the fire in which we burn.
Delmore Schwartz.
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Destry
Sterling is 4th, but by what measure. Suspect your list may be the value of traded deals, if it is, then it will have no relevance as to how the actual value of the £ may stand against other currencies. The key currencies for countries the UK trades with are the $ and Euro. Despite the Euro also being weak, the international money markets have very real concerns about the prospects for the UK over the next 2-3 years. The BBC News website currently has an article on it headed "How Low can the pound go" with views from a number of the top currency trading houses. It does not make good reading.
A weak £ against the Euro & $ will see iincreasing inflationery pressures on prices in the UK, which in turn could well lead to wage inflation. Where will that then take us? Rising unemployment is certainly also one major risk for UK in 2017, where although tourism will rise in UK, we simply do not export enough to gain significant benefit from the weak £.
Yes, the markets may have panicked a little today, but the long term expectation is further falls in value of sterling, certainly till at least the end of 2017. The UK population voted for it, so we now have to live with the consequences.
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We still ahve so many uncertainties as we approach article 50
The exit campaign should have been more clear as to what they wanted and the EU should have been more clear on what they would have accepted
the gulf and implictations would have been clearer
I wonder what would happen if parlaiment took a vote and decided (apparently they still can) not to go through with brexit.
IMO a lot of the exit voters will breath a sigh of relief and I do not think there would be much noise or complaing apart from a few brexit hardliners
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“The greatest enemy of knowledge is not ignorance; it is the illusion of knowledge”
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Brexit supporters who didn't envisage any pain from an OUT victory were in cloud cuckoo land. of course the rest of the world would be against our exit, however I just wonder which way the USA will go if Trump is elected, France is leaning to the right and Angela isn't looking too smug of late, not to mention the possibility of a Swexit referendum.
The fat lady hasn't even started to clear her throat.
This message was last edited by Destry on 07/10/2016.
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It was always the case that given Cameron's inability to gain adequate reform from the EU ( due to bureaucratic intransigence which sadly continues to the present day), together with his dogged refusal to make contigency plans for Brexit (in fact this was purposeful obstruction to access data) that there would be a transition period post Brexit whilst teams were assembled and negotiating strategies were fully analysed from data finally made available to the Brexit negotiators.
This purposeful refusal to make contigency plans was intended to bully citizens into submission, i.e.a fear tactic, but the psychology backfired, as all it did was to reinforce citizen's alienation to their other refusal, which was to listen to citizens' major concerns in the first place.
Given all of the above it was inevitable that this period of transition would result in currency movements, but IMHO Cameron and the EU bureaucrats have done a grave disservice to both the UK and the EU in their failure to "allow" citizens the right to express their concerns (and vote accordingly) without threatening them in that process.
As for the EU, It's time that citizens concerns were debated openly and rationally, with a willingness to consider reform where appropriate, and a willingness to find solutions that suit both the UK and EU to best effect, rather than continue with stubborn intransigence and bullying tactics against other member states, whose citizens have expressed similar concerns to our own.
The EU has to understand that bullying never pays in terms of human psychology (as it only alienates and works against the ability to gain rational and fair compromise) and whilst they are about it they need to also comprehend that corruption only leads to a downward spiral. Perhaps what these bureaucrats need is a course in human psychology!!! ;)
This message was last edited by ads on 07/10/2016.
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Here's a question for you all.
If currency markets are controlled by algorithms that respond to leaders speeches, what counter measure is in place to identify hidden intent/self interest?
What is to prevent leader(s) during sensitive negotiations making an inflammatory speech in full knowledge and with intent to detrimentally impact a nations currency as a tactical ploy to pressure them into submission?
Is this "mechanism" not open to abuse without due regard to the impact on innocent citizens?
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It is always possible for influential businesses or politicians either on their own behalf or on behalf of business to impact on any situation that is of major importance to all concerned OTHER than the millions of innocent citizens who are used, abused and forgotten by the system.
i still maintain that in the recent case of the UK referendum, the citizens finally got a chance for their opinions to be heard, such a shame citizens in other EU countries are not YET getting their voice.
Elections next year in Germany, France and further elections in Spain may well indicate a change of heart and a realisation that the EU works for business NOT its citizens.
Perhaps this is why EU money has recently been directed at the stronger influential Countries rather than the new, to try and keep their citizens onside and believing in the EU model.
The new countries are still onside as they all currently receive surplus funds attempting tobring their economies inline with the rest of the EU.
They too can build their airports without planes and toll roads that are hardly used and their white elephant buildings that are never visited.
Not going to be quite so easy once the UKs contribution ceases.
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Some good news to cheer us up after a week of unremitting negative Brexit comments from the media the Conservative Party, financial markets and EU heads of government.
The Press Association is reporting this morning that all 3.6 million EU citizens currently living in the UK will be allowed to stay after Brexit. Those without resident status will be offered an amnesty.
Also the UK government is in advanced talks with health authorities in Spain to allow UK nationals with residency to continue to receive free healthcare after Brexit.
Britons who have settled overseas permanently are to be given a “vote for life” in British general elections, the government has announced.
The current 15-year limit will be scrapped as part of a bid to strengthen ties with expats abroad following the decision to leave the EU.
The plans, which will have to be ratified by both houses of parliament, were announced on Friday by Chris Skidmore, the minister for the constitution, and follow a campaign by the second world war veteran Harry Shindler.
“British citizens who move abroad remain a part of our democracy and it is important they have the ability to participate,” said Skidmore. “Following the British people’s decision to leave the EU, we now need to strengthen ties with countries around the world and show the UK is an outward-facing nation.
“Our expat community has an important role to play in helping Britain expand international trade, especially given two-thirds of expats live outside the EU.
“Expats retain strong links with the United Kingdom: they may have family here, and indeed they may plan to return here in the future. Modern technology and cheaper air travel has transformed the ability of expats to keep in touch with their home country.”
Source - The Guardian.Press Association.
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Time is the school in which we learn
Time is the fire in which we burn.
Delmore Schwartz.
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This is good news for expats abroad, maybe then they will stop knocking the UK and start talking it up????
This message was last edited by BigAl2015 on 08/10/2016.
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Some good news to cheer us up after a week
The Press Association is reporting this morning that all 3.6 million EU citizens currently living in the UK will be allowed to stay after Brexit. Those without resident status will be offered an amnesty.
I would be interested to know where the 3.6 million figure comes from. We have open borders with the EU and no passport stamping or accurate recording of who comes and goes.
Even with non EU Immigrants the government has never know how many they are and who is legal or not. The border control authorities are raiding Chinese takeaways on a daily basis.
Umm this news could start an EU immigrant stampede to enter Briton. Ignore the word ‘’currently’’ because it’s open borders until they are closed and then any Tom Dick or Harry seems to be able to get in one way or the other.
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I think you will find its not quite as BLACK AND WHITE as the Press Assocition deciding
Most people voted BREXIT on immigration they wont like this NEWS and MRS MAY knows this it will be hard BREXIT thats what EUROPE wants and thats what the voters want
I packed my SPANISH bags and headed home I suggest you all do the SAME but leave the lock of as you may have a 1% chance of staying
The currency rates will drive you BACK before we leave anyway
Love Hugh xx
This message was last edited by hughjardon on 08/10/2016.
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Done the Spain thing Happier in the UK
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Various tabloids are predicting parity for the euro and the pound , although this makes our goods very cheap to export which is great for the UK factories .The out outlook does not look good for the expats they are predicting a mass exodus out of Spain by the British .
This message was last edited by windtalker on 08/10/2016.
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