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Brexit 101
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Brexit 101

  #411 (permalink)
Market Wizard
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The concept that the UK Government would create a London-Only work permit.

Anyway assuming Brexit goes through, London will not only probably not need these people, but they'll have more than need!

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  #412 (permalink)
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SMCJB View Post
Anyway assuming Brexit goes through,...

Interesting assumption....


Quoting 
In a new report, the House of Lords’ Constitution Committee have demanded the Government should not invoke Article 50 of the Lisbon Treaty - the formal process by which Britain will quit the bloc - without explicit parliamentary approval.

They claim it would be “constitutionally inappropriate” for the Prime Minister to proceed without the consent of MPs and peers.

All part of the plan.

Btw, "Brexit means Brexit" is like saying "Something means something"...

Theresa May knows exactly what outcome she wants...

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  #413 (permalink)
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jtrade View Post
Interesting assumption....

In relation to London-only work visa's, if it doesn't go thru then they aren't needed. But I agree, I wouldn't assume it happens, and if it does, I wouldn't assume it happens quickly.

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  #414 (permalink)
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xplorer View Post
Enter Sadiq Khan, just months into his job as mayor of London, and himself a backer of Britain staying in the EU. (Londoners voted around 60% in favour of remaining—in some districts more than 75%.) Khan confirmed this week that his office is hammering out plans for a separate London-only work permit to ensure the city can continue to attract and recruit European workers after Britain leaves the EU.[/I][/INDENT]


Full article on Quartz

And then the same thing for Scotland, Northern Ireland, ...?
This Brexit is an amazing waste of time, energy and $$/££/€€, clearly a lose/lose deal.

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sam028 View Post
This Brexit is an amazing waste of time, energy and $$/££/€€, clearly a lose/lose deal.

Morning, Sam,

I agree partly with the first part of your sentence - the process has been & continues to be very inefficient - but not at all with the last. I think the British "Exit" vote has already had and will continue to have a very positive effect on the future balance and direction of the EU, with or without the UK as an ongoing member.

Entirely appropriate, imho, that the heirs of Winston Churchill are the ones to give the unelected mandarins of Brussels a good kick in the ass ! It's been a much-needed, EU-wide wake-up call.

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  #416 (permalink)
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What a terrible shame and such a surprise

UKIP's Steven Woolfe says he's 'fine' after altercation - BBC News

A UKIP candidate came to my ex-girlfriend's place when we were together campaigning. She is from Rwanda originally but Cambridge educated, about 5 foot tall and a genius psychologist. Those two grown men never reported what happened to them after they called her a bad word (not realising I was in the hallway).

I know people can be even lower than UKIP fanatics but.. so not surprised nobody knows what happened here either. But its clear Brexit is emboldening them.

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  #417 (permalink)
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Flash crash sees the pound gyrate in Asian trading

The pound has dived on Asian markets with automated trading being blamed for the volatility.

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At one stage it fell as much as 6% to $1.1841 - the biggest move since the Brexit vote - before recovering to $1.24, still down 1.5%.

It is not clear what triggered the sudden sell-off. Analysts say it could have been automated trading systems reacting to a news report.

The pound has been volatile since the UK voted to leave the European Union.

The sharp drop came after the Financial Times published a story online about French President Francois Hollande demanding "tough Brexit negotiations".

"It's difficult to know exactly what triggered it," Angus Nicholson, market analyst with IG in Melbourne, told the BBC.

Analysts speculate that a computer may have been set to scan the news for negative Brexit stories, with the order to sell if it found any.

The trigger could have also been a simple mistake, or what's know as a fat finger trade, when a trader enters a wrong number.


Full article on BBC News

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  #418 (permalink)
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Some analysis from earlier this morning on the mini flash-crash

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Pound’s Safety-Valve Status in Jeopardy as Slide Accelerates

The pound risks turning from prop to pain for the U.K. economy as Brexit negotiations near.

Sterling tumbled the most last week since the vote to leave the European Union in June, as investors woke up to the fact that the U.K. government’s approach to Brexit may mean forgoing access to the single market. While the currency’s weakness has helped cushion the economy in the immediate aftermath of the referendum, the latest slide may carry more costs than advantages.

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The drop caused companies to downgrade profit forecasts, threatened to fan inflation, and also hinted at a further fall from grace for what was once the global reserve currency. The flash crash last week was more redolent of a frontier currency than the world’s fourth-most traded, and only Sierra Leone’s leone and the Mozambique metical have dropped more than the pound since the June 23 referendum.

While a weaker currency can give exporters a boost, those advantages can disappear when the slide is as fast and disorderly as sterling suffered last week, according to Nomura Holdings Inc. The pound’s 16 percent tumble against the dollar since Brexit may be part of a fundamental shift in the state of the U.K. economy that monetary policy alone can’t tackle, former Bank of England policy maker Adam Posen said on Friday.


Full article on Bloomberg


Last edited by xplorer; October 9th, 2016 at 05:58 PM.
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Might be interesting to see a long term chart (I can vaguely remember 2.40), I'm not sure whether to expect parity next or a half-way back retrace sometime.

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