Britain to leave the EU.

[Lamb]

http://www.cnn.com/2016/06/23/europe/eu-referendum-live-blog/index.html

It's a momentous day in the United Kingdom as the country votes to leave the European Union, triggering the resignation of British Prime Minister David Cameron.

 

[Rens]

Oh I hope we do that too.

 

[psalms 91]

Great, glad they came to their senses

 

[Lamb]

Will their economy survive now?

 

[Rens]

Holland is too chicken to do it too, because the EU got mad at England.

 

[psalms 91]

They should but you are right many will not

 

[tango]

Will their economy survive now?

It should do. The City thought Remain would win the day and bid up the FTSE and the pound in anticipation, so when Exit actually won the day it was inevitable that a lot of those gains would disappear. As it happened things overshot, the pound dropped from $1.50 to $1.32 before recovering, and last I saw it was hovering around $1.37

In many ways I see England in the EU as being something like a person in a long term relationship with someone who is borderline abusive but has some strong redeeming qualities. The question is whether you put up the abuse in exchange for what benefits are on offer, or strike out on your own not knowing whether things will turn out well or not.

David Cameron couldn't survive as Prime Minister, given how much of himself he had tied to a Remain vote. When Remain lost he lost credibility.

 

[psalms 91]

I think the UK did the right thing

 

[Rens]

New Euro bill

https://m.facebook.com/photo.php?fbid=10207618769780755&id=1636404776&set=rpd.1636404776&source=49