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The Guru

Brexit

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Read this on FB today. Made me chuckle:

A Prime Minister resigned. The £ plummeted.

The FTSE 100 lost significant ground. But then the £ rallied past February levels, and the FTSE closed on a weekly high: 2.4% up on last Friday, its best performance in 4 months.

President Obama decided we wouldn't be at the 'back of the queue' after all and that our 'special relationship' was still strong.

The French President confirmed the Le Touquet agreement would stay in place.

The President of the European Commission stated Brexit negations would be 'orderly' and stressed the UK would continue to be a 'close partner' of the EU.

A big bank denied reports it would shift 2,000 staff overseas.

The CBI, vehemently anti-Brexit during the referendum campaign, stated British business was resilient and would adapt.

Several countries outside the EU stated they wished to begin bi-lateral trade talks with the UK immediately.

If this was the predicted apocalypse, well, it was a very British one. It was all over by teatime. Not a bad first day of freedom.

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I know, it's all a bit bizarre isn't it ?

The Remain camp failed to persuade enough people to Remain and now the Brexit camp are saying that they can't promise to deliver on their two main campaign points of less immigrants and more money into the NHS.

So it appears the people who voted Remain want a revote and at the same time it would appear that many people who voted Leave are also asking for a revote for entirely different reasons !! What a mess .....

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Tell me about it. Happy with the way I voted, but if offered the chance to change my mind would I? Erm no :)

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Likewise.

Looking at the News today, it appears that the Brexit campaigners had little or any sort of post referendum plan, as they seem to be saying that no one in the campaign expected Brexit to actually win !!

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LOL typical British politics!

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The original quote has a number of significant errors though, for what it's worth. 

Both the FTSE 100 and FTSE 250 are at their lowest levels since the end of 2013 apart from a couple of short term blips where they dipped lower, and the Pound v Euro exchange is the worst since early 2014. These are more accurate 'trend' values rather than 'pick your best number' arguments. 

HSBC has confirmed it WILL move 1000+ jobs to France if the UK leaves the single market. 

The Brexit leaders are now saying we may negotiate to remain in the single market, and more importantly to retain our 'Banking Passport' which is essential to our financial institutions. What they fail to mention is that for this to happen, we have to retain the facility for free flow of people amongst member states- totally negating one of the principal platforms upon which the No vote was founded. 

It will all eventually settle and what is cast is cast, but I do wonder why we leave the welfare of the country to a cohort as inept as our politicians :)

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This should never have been allowed to go to referendum without an Independent body pulling together the facts of what will happen if we stay and what will happen if we leave. No politicians could have made promises or guidance against that document as it would have stated the facts.

This decision has been made erroneously and the Little Britainners have won the day on scaremongering and false promises. No mention was made anywhere about all the EU funding that goes into the country to help support infrastructure and other social projects and programmes and now they are all asking if these are safe - of course they're not stupid! So, we'll see how many like it when they have to live with the effects of their vote when they are made redundant from organisations crippled by reduced access to markets, further volatility to stock and currency markets and reduced EU grants to fund regeneration locally.

This was like Turkeys voting for Christmas!

I have a vested interest in remain but I can see a future for Britain outside of the flawed but good-intentioned EU but it could have been so much better handled.

I'm now having to re-negotiate client pricing as the £ has tanked against both the Euro and the Dollar. I have 3 year contracts about to be signed that are now causing organisations to re-think all because small-minded people wanted to stop immigration - most of which that is perceived to be the problem is from outside the EU anyway.

I think there will be some way found to annul the result.

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The financial markets will re-stabilise, i think, as they always do, but it will hurt business whilst they do.

My guess is that other countries will bring their unease with the EU to the fore now and after a lot of negotiation we will end up remaining in Europe is some sort of reformulated "EU 2.0" which will have significant changes to its structure and will be a collection of smaller agreements covering immigration and trade, with the top-heavy Brussels-centric architecture hacked right down or gone completely.

It will easily take the whole of the 2 year negotiation period just to negotiate some offer which is attractive to the public, but i have no doubt that the Government will find procedural ways to legally extend our exit period to 5 or even 10 years. The key date will be the 2020 General Election as the EU will likely be the main campaign point across all parties.

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I don't follow politics a lot but from my point of view we've shown a few of our teeth and likely we will renegotiate a trade deal in the common market which is what it all started out as anyway. No objections to such a market, just what were becoming Euro overlords!

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