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Showing posts with label brexit. Show all posts
Showing posts with label brexit. Show all posts

Thursday, 30 March 2017

UK Pound and BREXIT

OK it is very early days, but the day after the letter triggering the BREXIT process the UK pound is up against most currencies including the euro and US dollar.

UPDATE 30.3.17 1630z: Still up.

Tuesday, 17 January 2017

EU and the UK pound

Since the Prime Minister clarified our position on leaving the EU following the BREXIT vote, I see that the UK pound is up against every currency. I guess people had already factored in that we are leaving the EU and are happy to have some certainty now.

Although I have said this before, it would not surprise me if the Euro lost a lot of value this year. The EU is in grave danger of falling apart.

I voted to "remain" in the EU, but many nations want free trade but NOT a United States of Europe. France is France. Germany is Germany, etc..  National identity IS important.  Originally the EU was about maintaining peace in Europe, but it has grown a lot in recent years and has rather lost its way.  Basically I think the EU is "a good thing" but it must not be a "gravy train": it should serve the people of Europe.

See http://www.bbc.co.uk/news/business/market_data/currency/default.stm .

Thursday, 11 August 2016

BREXIT

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.

Friday, 1 July 2016

BREXIT

It is now over a week since the UK voted to leave the EU. Although the pound has fallen the stock markets seem to have taken things OK so far. The UK seems to be on a self destruct route at the moment with the Labour party in civil war and the Conservatives thrown into confusion by Boris not standing for PM. It will be some time before the fog clears and we chart a new path.

Personally I do not trust Gove and think Theresa May would make the best PM, although I am not a Conservative voter.

If a snap General Election is called my inclination is to vote Liberal Democrat again.

Friday, 24 June 2016

BREXIT - the new reality

So the referendum has taken place and the UK people have chosen to leave the EU. All of my close family voted to remain IN. The future of the UK is unknown. Indeed, the future of the EU may now be very different. All I hope is that we remain friends with our neighbours in Europe. We have always wanted the EU trade, but we have never sought closer political ties. The future is ours to forge and we must chose a good future that unites its people not divides them.