Brexit?

[Bullsback]

Brexit itself won't mean much as far as earnings.  The real fear is other strong economic EU members leaving and then countries like Greece, Spain, and Italy won't be able to sell bonds at low yields since the euro will be a weak currency plus no more bailouts.  You can see this with German 10yr bunds turning negative and Greek 10yr bonds going up 11% today.  I think that the whole issue is overblown.  UK doesn't even use the Euro to begin with.

Think of it this way, UK is one of the biggest economies in the world and you had treaties between all these countries so people could freely work throughout the EU and commerce could go on across borders, etc.  Now, the UK has isolated itself from these areas (once the "Brexit" goes into effect). So now UK needs to negotiate treaties with either the EU or with each individual sovereign nation to allow commerce (the EU isn't going to make it easy as making it easy ultimately creates more pressure on others to leave, further destablizing the area. 

Basically, think about what would happen if CA decided it didn't want to be part of the US anymore.  We wouldn't have free trade with any of the other states, if we had companies which had locations in other states, those states may not allow us to do business, without meeting various requirements set forth within those various states, etc.  On the flipside, CA wouldn't have to pay federal taxes and could be focused on state companies (but you also wouldn't get the benefits you had negotiated as being part of the "federal" government either. 

Extremely complicated and a real destablizing move to the global economy.  Nationalism at its finest (and I say that extremely sarcastically). 

 

[AW]

The irony of it all. Early on, they colonize, now they don't want to be part of anything...

 

[momopi]

One reason why I support Brexit:http://www.europarl.europa.eu/meetd...ework_statute_/11_revframework_statute_en.pdf

The idea of "group libel", and sending dissident youngsters not conforming to EU political correctness to thought rehabilitation camps rubs me in a very wrong way.

 

[acpme]

UK will be fine. When it didn't enter the Eurozone, everyone expected London's finance industry to collapse and move to Frankfurt. Never happened. I believe London's share of European financial mkts has actually increased over time, not shrank. Many of the banks have said if Brexit happened, they would have to move employees out of London to the continent. Didn't happen before, don't expect it to happen now.

Immigration, as usual, is a scapegoat for general economic malaise. UK's borders are relatively secure. Bigger issue is on the continent as refugees enter from southern Europe, then can make their way to places like France and Germany. You have border control on the Chunnel. Also, the UK opted out of the Schegen Area. In other words, for most of the European continent, you can move freely between countries without a passport, but not the case with the UK.

In other words, being a member of the EU had no impact on UK's immigration controls. The UK has always had its own border control and visa requirements.

So I think Brexit has little impact. But overall its silly as it seemed like taking a hachet to a problems that required more surgical solutions.

 

[acpme]

Now, the UK has isolated itself from these areas (once the "Brexit" goes into effect). So now UK needs to negotiate treaties with either the EU or with each individual sovereign nation to allow commerce

Over the long term, Norway, Switzerland, and other non-EU countries have managed to trade with Europe just fine. It's just a matter of some bilateral agreements. A bit clunky, maybe. But it's not as if the EU was a shining example of administrative efficiency.

The EU elite is focusing on the wrong issues. It's worried about members leaving in the future and tried to stop that precedent. No where along the way did it stop to say, why do members want to leave and what do we do about that?

 

[eyephone]

Leaving the EU domino effect.
http://www.express.co.uk/news/world...ance-Holland-Denmark-all-call-for-referendums