UK pound falls to fresh 2.5-year low against Singdollar as 'Brexit' fears persist

Yup the losers should respect the outcome of the vote, otherwise no value saying they are democratic, just go back listen to the KING/QUEEN for everything can liao. 

That's what separate democracy from autocracy or COMMUNIST.

Of course the parties with a lot of $$ interest in UK stocks or property will try their best to bend the media to try and change things via propaganda.

if there is a 2nd vote it will set a bad example for other nations in future that they can test water with 1st voting and then withdraw what they vote if outcome is not desirable.

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I'm not saying they should have another referendum. It is not going to be constructive

Parliamentary system is a representative republic system. Referendum has no binding power though it is a direct democracy to listen to the ground. That's why the government ie the Prime Minister, which is the leader of the biggest party, has to invoke Article 50 before the exit becomes binding. But Cameron has decided to side-step it by resigning. Nonetheless end of the day parliament has to sanction the vote for Article 50 to be invoked.

That's why I am saying that someone in Parliament has to call for a vote in the house to overturn it and it would be proper order since it is a republic, but nobody wants to put their political career at risk after the referendum, to be seen as not complying to the wish of the 2% winner, even if that marginalizes the country.

(27-06-2016, 03:25 PM)weijian Wrote: On a personal note, I don't see the big fuss with Bre-exit. Tomorrow will always be uncertain, regardless of Bre-exit, Bre-main or Bre-Cameron-didn't-call-for-a-vote-3-years-ago. There are too many commentaries chartering the next path and so I believe the consensus is that "most people have a plan to deal with it". When most people have a plan (or think they have one) with the "uncertainty ahead", there wouldn't be fat premiums lying around.

The critical difference between the Br-exit, Br-main, or the weijian's Bre-Cameron-didn't-call-for-a vote-3-years-ago, is the level of uncertainty. Uncertainty creates fear, and often an heavily overdosed ones. The fear causes radical actions, which might go beyond the best predictions.

The dose of uncertainty is too high now, for everyone, including voters of Brexit. The rational move forward, is to reduce the uncertainty as quickly as possible, before too late, for both EU and Britain, IMO.

UK probably wants to deal with Scotland first and that is probably after choosing a new PM

The above itself dont know will take how long already..........

http://www.aljazeera.com/indepth/opinion...34403.html

For a alternative take on brexit.

Imo the reasoning for brexit was wrong, but the decision yet might be right. The EU lacks moral authority and had prioritized power politics over economic rationality in recent years.

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The fear has started...

UK firms weigh job cuts, moves after Brexit vote, survey shows
27 Jun 2016 17:31
[LONDON] Some British companies are planning to freeze recruitment and are considering moving operations outside the UK following Britain's decision to leave the European Union, according to a survey by a business group.

An Institute of Directors poll of 1,092 UK business leaders found 24 per cent of respondents plan to pause hiring plans, while 5 per cent of companies surveyed said they will cut jobs. Sixty-four per cent of respondents said the result is negative for business, compared with 23 per cent who said it is positive.
...
BLOOMBERG

(27-06-2016, 09:41 PM)CityFarmer Wrote: The fear has started...

UK firms weigh job cuts, moves after Brexit vote, survey shows
27 Jun 2016 17:31
[LONDON] Some British companies are planning to freeze recruitment and are considering moving operations outside the UK following Britain's decision to leave the European Union, according to a survey by a business group.

An Institute of Directors poll of 1,092 UK business leaders found 24 per cent of respondents plan to pause hiring plans, while 5 per cent of companies surveyed said they will cut jobs. Sixty-four per cent of respondents said the result is negative for business, compared with 23 per cent who said it is positive.
...
BLOOMBERG

Barclays dropped 16%, Royal bank of scotland dropped 15%, Lloyds dropped 10%.

The brexit politicians are now all face green green to see the currency and stock market non stop going down into the abyss. They have won but they are all so quiet now. Probably they are sensing they might have brought the country into big trouble.

Well i am kind of serve the UK right.

If we use solely economics impact to measure in/out of EU we got it completely wrong. EU is not only wanting of economic only. There is sovereignty, culture, democracy, language, fairness, history ... Even the currency pound means something to the people, to the world. There will be transition impact but economically in the future can be brighter. Is up to their leaders to make it happens. The future is exciting !

Moody's will be following up soon. The real economic pain has begun, loss of AAA is a big blow to financial sector. 

S&P strips U.K.'s AAA credit rating on Brexit vote

The U.K. was stripped of its AAA credit rating by S&P Global Ratings on Monday after British voters last week voted to pull the country out of the European Union. S&P lowered the rating to AA.