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

[sgd]

http://www.wnd.com/2016/06/brexit-could-...n-of-debt/#!

big gaping hole akan datang 

very bearish aready lah

[BlueKelah]

http://www.cnbc.com/2016/06/24/alan-gree...eberg.html

This is the Alan Greenspan article referenced. His comments really super bearish. I have seen A.F.C. crash but not the 1987 one, sounds pretty scary too...

But if it happens it will bE a magical time for value investors

[specuvestor]

As per my previous post, EU is not the same as Eurozone... But once the Pandora's box is opened Mr Market might not see the difference

http://www.valuebuddies.com/thread-7213-...#pid130745

UK France and Germany were the 3 pillars behind EEC idea. UK recession can still be contained but I'm more concerned about the ramifications on Eurozone.

I am of the opinion that in 12-18 months it is so messy and disruptive that the British wondered what have they done by opening the Pandora's box (if UK still hasn't broken up yet). One thing is sure that the UK is not the winner.

[BlueKelah]

As per my previous post, EU is not the same as Eurozone... But once the Pandora's box is opened Mr Market might not see the difference

http://www.valuebuddies.com/thread-7213-...#pid130745

UK France and Germany were the 3 pillars behind EEC idea. UK recession can still be contained but I'm more concerned about the ramifications on Eurozone.

I am of the opinion that in 12-18 months it is so messy and disruptive that the British wondered what have they done by opening the Pandora's box (if UK still hasn't broken up yet). One thing is sure that the UK is not the winner.

some british are already wondering what they have done by voting BREXIT. But then again, voting is a serious business.

As expected after the PM resigned their parliament is in a mess.
British Politics in Turmoil as Benn Calls on Corbyn to Resign


Came across this documentary, a bit one sided but does give a bit of idea on whats going on with the EU and some of the impact on british businesses

http://m.youtube.com/watch?v=UTMxfAkxfQ0

[CityFarmer]

The immediate casualty from Brexit, is the financial sector...

EU plans moving bank regulator from London as euro zone eyes city business
27 Jun 2016 07:42
[BRUSSELS] The EU is preparing to move its European Banking Authority from London following Britain's vote to leave the Union, EU officials said on Sunday, setting up a race led by Paris and Frankfurt to host the regulator.

Coming a day after Britain's Jonathan Hill resigned and was replaced as EU financial services chief by the Commission's "Mr Euro" Valdis Dombrovskis, the move underlines how the City of London can expect to be frozen out of EU financial regulation - and possibly from Europe's capital markets - depending on the terms of Brexit.

While those who argued for Britain to leave the EU said the financial industry would thrive without EU shackles, some of its biggest employers including JPMorgan are scouring Europe to find new locations for their traders, bankers and financial licenses.

The EBA, whose 159 London employees write and coordinate banking rules across the bloc, is expected to be relocated"soon", two EU officials told Reuters.
...
REUTERS

[soros]

Would the company tax rate affect their decision to relocate ?

Germany ( Frankfurt) 29%
France ( Paris ) 33%
Belgium ( Brussels) 34%
UK ( London) 20%.

[swakoo]

An astute online comment has some wondering whether Brexit may ever happen

[specuvestor]

^^Think that's a great summary but I also think it is right to let the Brexiter take up the challenge of the folly just as Tsipras has.

Here's another one: https://www.washingtonpost.com/news/worl...ative_2_na

Now the only hope for UK IMHO is that someone pragmatic enough and understand what exactly is leadership, to stand in parliament and say they have to override the advisory referendum vote and have a vote in the house instead. It's a big gamble but if one really have the welfare of the country at heart would do, and not just about political self-interest.

Would the company tax rate affect their decision to relocate ?

Germany ( Frankfurt) 29%
France ( Paris ) 33%
Belgium ( Brussels) 34%
UK ( London) 20%.

yes it might as it affects the net profit but to paraphrase Buffett that no great investment ideas comes with the first question of "what is the tax rate"?

End of day tax rate is a function of profit. Profit and hence revenue is still more important. If UK is marginalized with no special treatment of EU capital markets the impact on the City can be substantial, as London is the centre of Finance for European Timezone. Can Dubai Financial Centre takeover offshore US$, taking into consideration one of the pillar of LIBOR is petro$ recycling, like Dubai took over Heathrow as busiest airport?

[BlueKelah]

what about that fellow who shout "independence day" on the video Nigel Farage. He been wanting brexit like forever. 

I am sure someone like him wont care about how messy it will get and will take over the prime ministership given the chance and kick all those immigrants out.

IMO now their parliament is just kicking the can around. 

Another referendum is not the solution, it will make those who want BREXIT to then come around with another petition and cause trouble. (they already shot one minister liao)

[weijian]

Now the only hope for UK IMHO is that someone pragmatic enough and understand what exactly is leadership, to stand in parliament and say they have to override the advisory referendum vote and have a vote in the house instead. It's a big gamble but if one really have the welfare of the country at heart would do, and not just about political self-interest.

In the democracy, the minority listens to the majority. It ain't perfect because the majority isn't always going to make the wisest decisions (Well, if markets can be inefficient, so can majorities be wrong more often than always). I think the key is to respect the process of democracy. Thousands of fine men/women have died protecting this cause, and many more whom thought they did.

In elections, the proverbial is "you get what you voted". IMHO, it is about respecting the process and poll results, especially if it is considered "free and fair". Of course, some brave soul/s need to WALK the TALK now.

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.