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Thursday, 11 August 2016


It is still too early to tell how this is going to pan out.

The euro, yen and dollar exchange rates have moved in favour of UK exporters and making imports from these nations more expensive.

I have the feeling that the euro will collapse in value in the next 18 months as the remaining EU nations wake up to Greek debt (there is no way they can repay this) and the likelihood of the Greeks defaulting and leaving the EU. This would really hit Germany.  In the end I think the UK will be fine. The UK was a net contributor to the EU and we voted to leave. This puts an even greater burden on the richer EU members.

It would not surprise me if we had a snap General Election here in the UK, especially if the Labour party commits self-imposed suicide and splits in two. Our current Prime Minister, Teresa May,  did not vote for Brexit and neither did any in my family. If a General Election was to be called then the Conservative Party is likely to get a huge majority.

I am currently reading a book on the history of Europe 1789-1989. I had little idea how the borders and alliances changed so much in the 1800s. Clearly Europe is still evolving.

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