Will those who voted for brexit and blamed the EU for their ills, blame themselves when things become worse?
Printable View
Will those who voted for brexit and blamed the EU for their ills, blame themselves when things become worse?
Jeez nzd now .52 gbp
Was over there last september - one day it went down to .38 and the beers were costing a fortune.
25% movement quite dramatic eh
I'm not so sure this is going to be a bad thing over the long term and it may take 3-4 years to really know. One thing for sure, UK manufacturers would have to be delighted with exchange rate right now. Against the JPY there has been a 13% shift in one day.
Farage "We've have done it without a single bullet being fired."
Nobody knows what's he done yet
In saying that, I think European bank stocks will get absolutely slaughtered this evening which is going to put pressure on markets around the world for some time.
amazing picture:
http://www.telegraph.co.uk/news/2016...me-says-leadi/
Just click on the link and scroll down to 3:37am and you see a map of the UK. The blue areas voted for "remain" - the red areas for Brexit. For some funny reason the North (Scotland) is totally blue - and the South a mixed bag, but mainly red. Looks like London had some brains and voted for remain, but this might not be enough ...
Obviously - the picture still can change (but already 78% of the votes counted and leave is leading by a 3% so far), but if the bookies stay correct, than I am wondering why Scotland might want to stay with the English to share the fallout of the predicted disaster ... I guess the English have a great chance to be irrelevant after this poll.
If the English really exit the EU, than finance will go to Paris, Amsterdam and Frankfurt, the Scottish (and potentially the Welsh) will join as independent countries the EU and London as capital of whats left of the once mighty British empire will derive its main income in future from tourism - charging tourists to watch the change of the palace guard ... Given the free falling pound holidays in UK will be really cheap and they can compete on a level basis with Greece and Turkey. They have already the strikes, just need to find a better way to get a fair share of the sunshine as well ...
If this goes through - will be interesting to watch in the morning the English hangover .... they lost already now 10% of their wealth (pound in free fall) and counting ...
Still - I find it really painful to see the English shooting themselves into their feet, but I guess, they pulled the trigger themselves, and I suppose its only adults who are allowed to vote?
I understand why the global market is taking a hit thus why nzx is taking huge hits but surely in terms of NZ trade this is a win? We still maintain our Free trade agreements with the EU and can develop new better trade deals with Britain?
Indeed but look at it from a global portfolio point of view and then if other markets fall, we need to as well....... as a lot of these things are relative. Also our $ is strengthening relatively so in theory our bourse may have fallen but our $ worth is still the same etc.
What do you mean with "trade deals with Britain"? I suppose Scotland is now very likely to join the EU (and they just lost a fortune by keeping the GBP until after this referendum instead of leaving the English and the pound already beforehand) ... and England is likely to become economically irrelevant .... nobody might be interested in future to take their currency as payment. Just look at it - they have nothing to back it up ...