Seventy Short of a ‘Yes’ Vote May Still Leave the Pound Intact

Seventy Short of a ‘Yes’ Vote May Still Leave the Pound Intact

From bloombergquint.com

The pound may more than hold its poise if Theresa May’s Brexit deal is rejected by a margin of fewer than 70 to 75 votes, analysts say. A relatively small shortfall for the U.K. prime minister, who needs 320 votes to push the pact through Parliament, may kindle hopes that she could succeed in a second attempt and spur gains in the currency. On the other hand, a large margin of loss -- 100 or more -- would ignite risks from a no-deal Brexit to an early election or even a second referendum, driving sterling lower, according to strategists and fund managers. The margin of votes is crucial since a change of heart by ... (full story)

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Dec 8, 2018 10:16pm

Quoting san99

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{quote} It's probably not as simple in an interconnected world to make clean breaks.

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And this is the problem, a departure like that was always going to be painful,
but some people just don't want to accept it.

They live in their imaginary world and they think Britain will be able to make new market deals with everyone outside the EU and prosper that way when those who are in business know that the reality is much different.

World markets are already saturated with products and services and there are no new markets where UK can compete because UK wages are high and transporting goods across the Atlantic is not cheap.

IMO they are damaging their economy for no much benefit.

Trader#580F

Dec 9, 2018 2:05am

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The most alarming problem that the brexit debacle has exposed about UK society is just how delusional Britain, from top to bottom, is about the 21st century world and its place in it. I offer 3 examples concerning the reasons given why the UK wants to leave the EU:

Regarding Sovereignty:
UK White Paper of February 2nd, 2017,
QUOTE: “Whilst Parliament has remained sovereign throughout our membership of the EU, it has not always felt like that.” In other words, the entire “take back control” of UK Sovereignty narrative, was false, since control had never been lost.
IOW the Sovereignty case is nonsense.

Regarding Migration :
SOURCE : UK ONS latest.
"Net Migration to UK in last year, from EU (under EU Freedom of Movement, over which UK exercises limited control.) was 1/3 of that from other countries over which the UK has FULL control."
IOW the Migration case is nonsense.

Regarding Trade:
As a member of the EU, UK currently enjoys friction-less trade conditions with its 27 closest neighbours (50% of all UK trade) and automatic preferential trade terms with over 60 further markets in the rest of the world with who the EU has FTAs. IOW 90% of ALL UK trade, enjoys preferential trade conditions directly as a result of EU membership. No developed country in the world outside the EU enjoys such international trade advantages.
IOW the Trade case is nonsense.

Suspension of rational decision-making rarely turns out well, in Business or in Life.
As we are seeing, I fear Brexit will be no exception.

Bones

Dec 9, 2018 4:14am

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over 50% os Political class have no balls ,that's the problem here
but the country will hold the position in any event imo

Quoting clockwork71

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Once upon a time, the British had courage. What happened to that country?

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Bones

Dec 9, 2018 4:20am

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people are so stupid compared to you

Quoting Guest

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The most alarming problem that the brexit debacle has exposed about UK society is just how delusional Britain, from top to bottom, is about the 21st century world and its place in it. I offer 3 examples concerning the reasons given why the UK wants to leave the EU: Regarding Sovereignty: UK White Paper of February 2nd, 2017, QUOTE: “Whilst Parliament has remained sovereign throughout our membership of the EU, it has not always felt like that.” In other words, the entire “take back control” of UK Sovereignty narrative, was false, since control had...

Ignored

Bones

Dec 9, 2018 4:24am

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there isn't the will in the house to carry out the result of in or out , very clear
it's been muddled by those that lost

A once in a generation decision
The referendum on Thursday, 23 June is your chance to decide if we should remain in or leave the European Union.
The government believes it is in the best interests of the UK to remain in the EU.
This is the way to protect jobs, provide security, and strengthen the UK’s economy for every family in this country – a clear path into the future, in contrast to the uncertainty of leaving.
This is your decision. The government will implement what you decide.

Bones

Dec 9, 2018 4:31am

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that direct message to every house is not binary apparently...

Quoting Bones

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there isn't the will in the house to carry out the result of in or out , very clear it's been muddled by those that lost A once in a generation decision The referendum on Thursday, 23 June is your chance to decide if we should remain in or leave the European Union. The government believes it is in the best interests of the UK to remain in the EU. This is the way to protect jobs, provide security, and strengthen the UK’s economy for every family in this country – a clear path into the future, in contrast to the uncertainty of leaving. This is your...

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