FTSE 100 fully recovers and pound rallies after Brexit

[Sultan Of Swing]

Huh.

I thought the world was supposed to end?

 

[columbus]

I don't have a dog in the fight. I don't pretend to understand the ramifications well enough to have a firm opinion on the Brexit.
But would it not be more accurate to say that things recovered from the vote after it became clear that Brexit would be a long and inconclusive process that hasn't really begun yet?

That Scotland is likely to exit the GB sooner and more clearly than GB exits the EU?
I'm asking questions here. Not making veiled statements.
Tom

 

[BSM1]

Huh.

I thought the world was supposed to end?

It did. Sorry you missed it. (Yay, Slow Hand)

 

[oldbadger]

Huh.

I thought the world was supposed to end?

Hi....
Well, the pound is slowly picking up, but we have not got a single united political party in Parliament at this time.
Politically, everything is in meltdown.
But at least the country is interested in politics this week!

 

[Knight of Albion]

I think the 'Remain' scare tactics of economic Armageddon 'talked down' the markets.
But as you say the FTSE is now higher than before and the £ is climbing again, though the lower £ would help British exports making them more competitive.

I wouldn't give too much stock to the Scottish Nationalist's claims. Political chancers.
Leave the British Union - 80% of Scottish trade is with England - and join the European Union, losing sovereignty to Brussels, being forced to adopt the Euro and being put on austerity measures from the start????
Scottish voters have already voted to stay in the UK and made clear they have no desire for another referendum.

 

[Tomorrows_Child]

Parliament is in chaos, we don't have a fully supported PM and neither do we have an opposition worthy of succeeding this government...I think that's bad enough.

What we must remember is, no one has the balls yet to actually leave the EU, once we do, there will be a mass economic down turn.

 

[The Emperor of Mankind]

I wouldn't give too much stock to the Scottish Nationalist's claims. Political chancers.
Leave the British Union - 80% of Scottish trade is with England

Assuming an independent Scotland joined the EU straight off or got bumped to the front of the queue, we'd immediately gain access to a much larger market than England. If England also gains access to the Single Market after completely leaving the EU (which would be very ironic) then an independent Scotland in the EU would be trading with them anyway.

Assuming an independent Scotland didn't join the EU then we'd still be outside along with England & Wales - who have quite a bit to lose by refusing trade with us. Not only would closing their borders to spite us hurt their reputation internationally, we do have a few things they need; whisky being only one we hold something like 90% of the UK's surface fresh water. They won't want to give that up.

and join the European Union, losing sovereignty to Brussels,

Every member state is a sovereign nation by definition - they sacrifice influence over certain issues to gain influence over and engage on matters of common ground with other member states. Seems like a fair trade.

Do you want us to pull out of NATO because we lose sovereignty to that organisation? What about the UN?

being forced to adopt the Euro

Is utter fiction. No country is required to adopt the Euro in order to maintain its membership of the EU. In fact, being a member isn't even necessary to use it. Andorra, San Marino & Vatican City all have monetary agreements with the EU that let them use it. Adopting the Euro is a lengthy and entirely voluntary process which involves fulfilling the Euro Convergence Criteria. Aside from the UK there are 8 other EU members who aren't using the Euro:

1. Bulgaria
2. Croatia
3. Czech Republic
4. Denmark (has an opt out like us)
5. Hungary
6. Poland
7. Romania
8. Sweden (want to adopt the Euro but have to hold a referendum first)

and being put on austerity measures from the start????

There's no reason to suppose that would be necessary.

Huh.

I thought the world was supposed to end?

Things are settling down because the markets have realised nobody has the cajones to actually trigger Article 50. Cameron won't do it - he's passing the buck on to his successor. BoJo and Gove have realised that the premiership has now become a poisoned chalice. The Tory Party leadership has a number of potential candidates, all of whom risk ending the Union (and their political careers with it) if they trigger Article 50.

 

[oldbadger]

Huh.

I thought the world was supposed to end?

Hi again....
Question:- Who can tell me more about the Scottish Pound?
If Scotland did hold another Indepenence Referendum because of it's Remain Vote, just if, is the Scottish Pound in any way separate from UK pound? In any event, could it float it's own pound?

I do believe that Scotland's majority should win whatever it wants. We've been talking about devolution for a long time now, with separate governing bodies etc, and to deny Scotland an Independence Referendum would surely be totally against our values of freedom, democracy and self determination?

I personally don't value our nuclear deterent subs, so our base in Scotland doesn't seem (to me) to be any reason to clutch at Scotland.

??

 

[Sultan Of Swing]

Hi again....
Question:- Who can tell me more about the Scottish Pound?
If Scotland did hold another Indepenence Referendum because of it's Remain Vote, just if, is the Scottish Pound in any way separate from UK pound? In any event, could it float it's own pound?

I do believe that Scotland's majority should win whatever it wants. We've been talking about devolution for a long time now, with separate governing bodies etc, and to deny Scotland an Independence Referendum would surely be totally against our values of freedom, democracy and self determination?

I personally don't value our nuclear deterent subs, so our base in Scotland doesn't seem (to me) to be any reason to clutch at Scotland.

??

It would be sad to see them go, but if they want to leave then that's fine, and they should depart as friends. This union never was and never should be an act of hostage.

 

[Flankerl]

The FTSE 100? Its made up of international companies in the UK. So not really relevant.

If you want to know how the "country is doing" (at least more reliably) then you have to look at the FTSE 250 which is made up of UK-bases companies.

And of course the Pound is still way off from where it was a few days ago.