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Thread: Britain's financial sector reels after Brexit bombshell

  1. #31
    What's untrue?
    Quote Originally Posted by Ominous Gamer View Post
    ℬeing upset is understandable, but be upset at yourself for poor planning, not at the world by acting like a spoiled bitch during an interview.

  2. #32
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    Quote Originally Posted by RandBlade View Post
    What's untrue?
    Have a look and find out. And more in general; it's been harder to catch Johnson telling a truth than a lie the last 3 months.
    Congratulations America

  3. #33
    Incidentally, France might have passed Britain due to the pound's collapse.
    Hope is the denial of reality

  4. #34
    Let sleeping tigers lie Khendraja'aro's Avatar
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    Quote Originally Posted by RandBlade View Post
    Because the EU has such a perfect record for young people? Try taking the mote out of your own eye ...
    Oh, I see, it's Kindergarten argument level now.
    When the stars threw down their spears
    And watered heaven with their tears:
    Did he smile his work to see?
    Did he who made the lamb make thee?

  5. #35
    Quote Originally Posted by Hazir View Post
    Have a look and find out. And more in general; it's been harder to catch Johnson telling a truth than a lie the last 3 months.
    So nothing.
    Quote Originally Posted by Loki View Post
    Incidentally, France might have passed Britain due to the pound's collapse.
    Incidentally, no it hasn't.
    Quote Originally Posted by Khendraja'aro View Post
    Oh, I see, it's Kindergarten argument level now.
    No it is a serious argument. The EU as a system is broken and not working. I think that 50% youth unemplotment is not acceptable but if that is a kindergarten argument that says more about you than me.
    Quote Originally Posted by Ominous Gamer View Post
    ℬeing upset is understandable, but be upset at yourself for poor planning, not at the world by acting like a spoiled bitch during an interview.

  6. #36
    The most recent data I could find shows Britain with a nominal GDP about 5% higher than France's. The pound fell about 10% vs. the euro since then...
    Hope is the denial of reality

  7. #37
    Moody's has downgraded the UK's credit rating from stable to negative, stating that the referendum result has "negative implications for the country's medium-term growth outlook".
    "In Moody's view, the negative effect from lower economic growth will outweigh the fiscal savings from the UK no longer having to contribute to the EU budget."
    Quote Originally Posted by Steely Glint View Post
    It's actually the original French billion, which is bi-million, which is a million to the power of 2. We adopted the word, and then they changed it, presumably as revenge for Crecy and Agincourt, and then the treasonous Americans adopted the new French usage and spread it all over the world. And now we have to use it.

    And that's Why I'm Voting Leave.

  8. #38
    Quote Originally Posted by Loki View Post
    The most recent data I could find shows Britain with a nominal GDP about 5% higher than France's. The pound fell about 10% vs. the euro since then...
    http://www.cityam.com/244103/eu-refe...w-smaller-than
    Quote Originally Posted by Ominous Gamer View Post
    ℬeing upset is understandable, but be upset at yourself for poor planning, not at the world by acting like a spoiled bitch during an interview.

  9. #39
    Quote Originally Posted by Timbuk2 View Post
    Moody's has downgraded the UK's credit rating from stable to negative, stating that the referendum result has "negative implications for the country's medium-term growth outlook".
    "In Moody's view, the negative effect from lower economic growth will outweigh the fiscal savings from the UK no longer having to contribute to the EU budget."
    Not only are credit agencies not clairvoyants they can be at times quite small c conservative and risk adverse. There is another distinct possibility that is the reason I and millions of others voted Leave: That freed from the shackles of EU membership we could independently grow MORE than we would as members. That as an agile, independent free capitalist nation we can grow more than our moribund continent that is the slowest growing continent in the world excluding Antarctica. That we could catch up with the western non EU nations that are all richer than us and the Eurozone. That we could catch up with the western non EU English speaking first world nations which are all richer than us and the Eurozone.

    That's why the Adam Smith Institute for instance backed Brexit. Not to save on the membership fee but to unleash our growth potential.

    If we grow faster in the medium to longer term post Brexit then that will be on top of not paying our billions in membership costs.
    Quote Originally Posted by Ominous Gamer View Post
    ℬeing upset is understandable, but be upset at yourself for poor planning, not at the world by acting like a spoiled bitch during an interview.

  10. #40
    Who cares, France overtook the UK on the IMF:s ppp-adjusted GDP ranking. Even if that weren't the case the UK's GDP days after the referendum is uninteresting. What's interesting is to see how gdp will change over the coming years compared to how it would have been expected to change. Well, that's one interesting thing anyway.
    "One day, we shall die. All the other days, we shall live."

  11. #41
    Source for France overtaking please?

    Agreed what happens in the longer term is what matters. I think the Adam Smith Institute are right about what will happen.
    Quote Originally Posted by Ominous Gamer View Post
    ℬeing upset is understandable, but be upset at yourself for poor planning, not at the world by acting like a spoiled bitch during an interview.

  12. #42
    "One day, we shall die. All the other days, we shall live."

  13. #43
    Oh wait that's per capita, my bad
    "One day, we shall die. All the other days, we shall live."

  14. #44
    Quote Originally Posted by RandBlade View Post
    could independently grow
    could catch up
    If we grow .
    Not good enough for me to gamble my livelihood on. Sorry.
    Quote Originally Posted by Steely Glint View Post
    It's actually the original French billion, which is bi-million, which is a million to the power of 2. We adopted the word, and then they changed it, presumably as revenge for Crecy and Agincourt, and then the treasonous Americans adopted the new French usage and spread it all over the world. And now we have to use it.

    And that's Why I'm Voting Leave.

  15. #45
    Where are you looking to move Tim?
    "One day, we shall die. All the other days, we shall live."

  16. #46
    Quote Originally Posted by Timbuk2 View Post
    Not good enough for me to gamble my livelihood on. Sorry.
    Fair enough we each have one vote. I view it as a gamble either way.
    Quote Originally Posted by Ominous Gamer View Post
    ℬeing upset is understandable, but be upset at yourself for poor planning, not at the world by acting like a spoiled bitch during an interview.

  17. #47
    I'm sure that's very reassuring, coming as it does from the forum's resident political fantasist.
    When the sky above us fell
    We descended into hell
    Into kingdom come

  18. #48
    Hope is the denial of reality

  19. #49
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    Amsterdam's alderman for economic affairs says her office already is in talks with several parties about re-locating to Amsterdam. She doesn t name any but describes them as 'mostly Asian parties active in the financial sector'.
    Congratulations America

  20. #50
    http://www.huffingtonpost.co.uk/entr...b0d2571149bb1f And it turns out that Rand was on the same side as Corbyn.
    Hope is the denial of reality

  21. #51
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    Quote Originally Posted by Loki View Post
    http://www.huffingtonpost.co.uk/entr...b0d2571149bb1f And it turns out that Rand was on the same side as Corbyn.
    Well, another old geezer who didn't give a shit about the future of young people who could have benefited from studying, working and living in 27 European countries.
    Congratulations America

  22. #52
    Quote Originally Posted by Loki View Post
    And it turns out that Rand was on the same side as Corbyn.
    Low-key argumentation circa 2016, ladies and gentlemen
    In the future, the Berlin wall will be a mile high, and made of steel. You too will be made to crawl, to lick children's blood from jackboots. There will be no creativity, only productivity. Instead of love there will be fear and distrust, instead of surrender there will be submission. Contact will be replaced with isolation, and joy with shame. Hope will cease to exist as a concept. The Earth will be covered with steel and concrete. There will be an electronic policeman in every head. Your children will be born in chains, live only to serve, and die in anguish and ignorance.
    The universe we observe has precisely the properties we should expect if there is, at bottom, no design, no purpose, no evil, no good, nothing but blind, pitiless indifference.

  23. #53
    Quote Originally Posted by Loki View Post
    Needs a subscription to FT to read.
    Quote Originally Posted by Steely Glint View Post
    It's actually the original French billion, which is bi-million, which is a million to the power of 2. We adopted the word, and then they changed it, presumably as revenge for Crecy and Agincourt, and then the treasonous Americans adopted the new French usage and spread it all over the world. And now we have to use it.

    And that's Why I'm Voting Leave.

  24. #54
    What are the chances Britain remain in the EEA now? Or the single market?

    I've been reading differing opinions on how easy/difficult that will be.

    The likes of Wolfgang Schäuble saying absolutely not, you vote out of the EU you vote out of everything. Fuck off in other words.

    The Bank of France Governor Francois Villeroy de Galhau saying British banks won't be able to use the banking passport system unless Britain signs up to all the rules of the single market; EEA membership comes with certain provisions to get access to the single market; free movement of people being one of them. Switzerland has single market access without being an EEA member. Yet Switzerland is denied passporting.

    Just trying to get a picture of what post-Brexit Britain will look like.
    Last edited by Timbuk2; 06-26-2016 at 06:21 AM.
    Quote Originally Posted by Steely Glint View Post
    It's actually the original French billion, which is bi-million, which is a million to the power of 2. We adopted the word, and then they changed it, presumably as revenge for Crecy and Agincourt, and then the treasonous Americans adopted the new French usage and spread it all over the world. And now we have to use it.

    And that's Why I'm Voting Leave.

  25. #55
    EEA membership is expected to require successful accession to EFTA and full compliance ie. no special treatment. In theory there's a lot of potential for obstruction but I think they wouldn't go overboard because that would just be harmful to everyone.
    "One day, we shall die. All the other days, we shall live."

  26. #56
    Quote Originally Posted by Aimless View Post
    EEA membership is expected to require successful accession to EFTA and full compliance ie. no special treatment. In theory there's a lot of potential for obstruction but I think they wouldn't go overboard because that would just be harmful to everyone.
    On the other hand, the EU seems to subscribe to the old British idea that beatings will resume until morale improves. See Greece, etc. Whether the krauts are racially blind enough to be consistent in their treatment of the untermenschen both up north and down south remains to be seen, I guess.
    In the future, the Berlin wall will be a mile high, and made of steel. You too will be made to crawl, to lick children's blood from jackboots. There will be no creativity, only productivity. Instead of love there will be fear and distrust, instead of surrender there will be submission. Contact will be replaced with isolation, and joy with shame. Hope will cease to exist as a concept. The Earth will be covered with steel and concrete. There will be an electronic policeman in every head. Your children will be born in chains, live only to serve, and die in anguish and ignorance.
    The universe we observe has precisely the properties we should expect if there is, at bottom, no design, no purpose, no evil, no good, nothing but blind, pitiless indifference.

  27. #57
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    According to The Telegraph many British tourist are left penniless abroad because exchange transactions for the British pound are rejected.
    Congratulations America

  28. #58
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    Quote Originally Posted by Nessus View Post
    On the other hand, the EU seems to subscribe to the old British idea that beatings will resume until morale improves. See Greece, etc. Whether the krauts are racially blind enough to be consistent in their treatment of the untermenschen both up north and down south remains to be seen, I guess.
    In the real world it is consistently Germany that does stick up most for the Brits.
    Congratulations America

  29. #59
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    Quote Originally Posted by Aimless View Post
    EEA membership is expected to require successful accession to EFTA and full compliance ie. no special treatment. In theory there's a lot of potential for obstruction but I think they wouldn't go overboard because that would just be harmful to everyone.
    The only way I severe punishment happening if the British government takes too long invoking article 50. Yet It remains to be seen a Brexit government will be able to accept the situation as they promised their voters the EU would be very willing to give the UK a sweet deal.
    Congratulations America

  30. #60
    Quote Originally Posted by Hazir View Post
    The only way I severe punishment happening if the British government takes too long invoking article 50. Yet It remains to be seen a Brexit government will be able to accept the situation as they promised their voters the EU would be very willing to give the UK a sweet deal.
    Angela Merkel has agreed that it is right and sensible for Article 50 to be invoked once we have a new Prime Minister, so I suspect calls for an immediate invokation to die away PDQ now. Consistent with your post above.
    Quote Originally Posted by Ominous Gamer View Post
    ℬeing upset is understandable, but be upset at yourself for poor planning, not at the world by acting like a spoiled bitch during an interview.

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