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    We still are technically part of the eu, there are quite a few up coming events that could really negatively effect things. Activating article 50, meetings between eu leaders discussing the uk, trade deals with the eu. Basically we are in a position of vulnerable uncertainty.
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    It's a bit pathetic that people are trying to claim "Brexit hasn't caused economic harm" after a couple of weeks when there's an upturn in the FTSE100 especially as many of the firms in the FTSE100 make their money outside the UK so the value of those stocks will depend more on overseas markets.

    I wonder how many of those who are searching for good news in the face of plunging sterling, would have been spamming all over the forum about how much of a crisis we were in, if a Labour government had been elected and the markets reacted like this.

    It will also be interesting to see how they explain away if the UK goes in to recession, unemployment rises etc. They will probably start blaming it on things like the living wage, saying we need tax cuts, welfare cuts, minimum wage needs to be scrapped to increase employment, public sector spending too high we need to cut back on that as the deficit is rising. It won't be to do with Brexit and it won't be to do with the Conservative government's management of the economy!
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    We just got a glimpse of what will happen throughout the whole leaving process.

    Uncertainty will have effects which we do not know because they most significant decision are discussed behind closed doors.

    Investment will be delayed. Lending will slow down. This takes time to effect the economy.

    The BoE has preemptively announced a relaxation in the capital requirements of banks which means they are urging banks to lend more. I don't think this will actually do anything. It is a PR statement to give confidence to investors.

    The BoE has stated that a reduction in the IR is likely. This means organisations (mainly banks) are struggling with a momentary and minor drop in the pound.

    Economic statistics and forecasts will be readjusted over the coming months. Government statistics will be released and will have an effect on the pound, bond markets and stock markets etc etc etc etc.
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    (Original post by MagicNMedicine)
    It's a bit pathetic that people are trying to claim "Brexit hasn't caused economic harm" after a couple of weeks when there's an upturn in the FTSE100 especially as many of the firms in the FTSE100 make their money outside the UK so the value of those stocks will depend more on overseas markets.

    I wonder how many of those who are searching for good news in the face of plunging sterling, would have been spamming all over the forum about how much of a crisis we were in, if a Labour government had been elected and the markets reacted like this.

    It will also be interesting to see how they explain away if the UK goes in to recession, unemployment rises etc. They will probably start blaming it on things like the living wage, saying we need tax cuts, welfare cuts, minimum wage needs to be scrapped to increase employment, public sector spending too high we need to cut back on that as the deficit is rising. It won't be to do with Brexit and it won't be to do with the Conservative government's management of the economy!
    To be fair, several of them had acknowledged that there will be a recession, but said that growth will be stronger after that. It's a gamble though as nobody knows what will be the deal with the EU, or other countries.
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    (Original post by Josb)
    To be fair, several of them acknowledged that there will be a recession, but said that growth will be stronger after that. It's a gamble though as nobody knows what will be the deal with the EU, or other countries.
    Plenty know, it's just that people who don't like what they hear insist that 'nobody knows'.
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    (Original post by gladders)
    Plenty know, it's just that people who don't like what they hear insist that 'nobody knows'.
    Nobody knows what will be the deal with the EU.
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    (Original post by Classical Liberal)
    Possibly true.

    On the other hand, I hadn't seen these before the referendum.
    I have, some charming youngsters at the restaurant I work decided to put nazi symbols all over the disabled toilet doors and words to the effect '**** blacks'
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    (Original post by Josb)
    Nobody knows what will be the deal with the EU.
    Leave's rhetoric came down increasingly hard over time against any kind of deal with the EU. They poisoned the well against any kind of compromise over free movement or Single Market access. I'd love to keep those, but it would be a betrayal of Leave's 'promises' (which they have since backpedalled from)

    I'd love for those 'promises' to be overriden as the scams they were and we remain in the EU or at best in the EEA, but...
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    (Original post by gladders)
    Leave's rhetoric came down increasingly hard over time against any kind of deal with the EU. They poisoned the well against any kind of compromise over free movement or Single Market access. I'd love to keep those, but it would be a betrayal of Leave's 'promises' (which they have since backpedalled from)

    I'd love for those 'promises' to be overriden as the scams they were and we remain in the EU or at best in the EEA, but...
    I don't see how a British Prime Minister can agree with losing EU passporting rights for British banks. They will make all the concessions necessary to keep it.

    Too bad for Brexiters; the vote wasn't about free movement, but leaving the EU.
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    (Original post by Josb)
    I don't see how a British Prime Minister can agree with losing EU passporting rights for British banks. They will make all the concessions necessary to keep it.

    Too bad for Brexiters; the vote wasn't about free movement, but leaving the EU.
    I don't see how the government can concede on free movement. It will just lead to the continued march of UKIP and lets be honest most people that voted leave did so because they disagreed with free movement.

    If the government is going to disregard the will of the public in order to get a better deal, then why not just stay in the EU anyway, it was only an 'advisory' referendum after all.
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    (Original post by MagicNMedicine)
    I don't see how the government can concede on free movement. It will just lead to the continued march of UKIP and lets be honest most people that voted leave did so because they disagreed with free movement.

    If the government is going to disregard the will of the public in order to get a better deal, then why not just stay in the EU anyway, it was only an 'advisory' referendum after all.
    If the government wants the nation to come back together, then only another referendum will do it.

    Something on the lines of " Now that that it is happening for real, we want to check up, just before we spend the next five years negotiating, that this is really really what the majority of the voting nation wants"

    Sounds fair to me. I'll shut up (as will 5 million others) if we felt this REALLY was what the nation wanted.
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    there will, most likely, be a mild recession. however, i think things can improve if we get a deal. And as Eurozone may be in recession too, i believe they will get recession too, and they will need a deal.
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    (Original post by teenz111)
    and they will need a deal.
    Or politically they will need not to have a deal.

    We cannot know at this stage.
 
 
 
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