UK votes to leave the European Union

[13Gigatons]

I wonder how this will impact the financial markets.

http://www.bbc.com/news/politics/eu_referendum/results



Leave: 17,176,006
Stay: 15,952,444


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[tommo123]

looks like i was right not to bother voting yesterday and sleep in instead.

 

[Imp]

Pretty sweet voter turnout at 72%.

http://www.telegraph.co.uk/news/2016/06/23/leave-or-remain-eu-referendum-results-and-live-maps/

 

[Anonemous]

I wonder how this will impact the financial markets.

Well stuff is crashing now...
http://www.nbcnews.com/storyline/br...s-pound-35-year-low-pummeling-markets-n598096

 

[Elixer]

This is the time smart traders will wait for everyone to sell, then they swoop in, and buy cheap.
The US $ is almost equal to the EU $, so that hurts US exports.

 

[Ns1]

Well stuff is crashing now...
http://www.nbcnews.com/storyline/br...s-pound-35-year-low-pummeling-markets-n598096

Japan rapidly becoming prohibitively expensive to visit; prob jap imports too. Guess I'm gonna have to take a break from the good sushi.

 

[IGBT]

Japan rapidly becoming prohibitively expensive to visit; prob jap imports too. Guess I'm gonna have to take a break from the good sushi.

..don't mess with the Puffer Fish.

 

[Imp]

British Prime Minister resigned.

 

[Imp]

Bank of England governor -- formerly Canada's national bank governor who helped run up the housing bubble and a former Goldman Sachs employee -- now speaking. Bla bla bla, he'll do stuff.

Current Bank of England rate is 0.50%... How soon to negative? Seriously, housing bubble will probably pop.

 

[s0me0nesmind1]

Anyone else that thinks this might fall through and not actually happen? Voter's choice or not - If voters vote to shoot themself in the foot... would you let them?

Financial markets will definitely be interesting. Contemplating maxing my IRA for the year if it gets low enough, but as of right now it's only looking to go down 2-3%

 

[JimmiG]

Anyone else that thinks this might fall through and not actually happen? Voter's choice or not - If voters vote to shoot themself in the foot... would you let them?

Financial markets will definitely be interesting. Contemplating maxing my IRA for the year if it gets low enough, but as of right now it's only looking to go down 2-3%

Not likely, but not impossible.
However it's going to take several years to actually leave the EU. A lot will change in that time, both in the EU and within Britain. It will also have become clearer what the consequences of leaving will actually be. If the opinion has swung by then, what are they going to do then? Go ahead with the Brexit even though the people want to stay?

 

[sdifox]

Heard some interviews of people that voted for exit being shocked that they are leaving

Such a clusterfuck.

 

[PottedMeat]

British Prime Minister resigned.

all hail pm boris johnson

is he still an american citizen?

 

[mnewsham]

Not likely, but not impossible.
However it's going to take several years to actually leave the EU. A lot will change in that time, both in the EU and within Britain. It will also have become clearer what the consequences of leaving will actually be. If the opinion has swung by then, what are they going to do then? Go ahead with the Brexit even though the people want to stay?

Well currently Cameron has said he will resign by October, and then whoever replaces him will need to invoke Article 50, which then begins the two year negotiated withdrawal process. Which can then be extended further (with a unanimous vote).

This will take awhile, and there is the possibility of another vote, but that doesn't necessarily mean anything, the EU could decide to play hardball at this point to discourage any other nations from thinking about leaving and really fuck the UK in this process.

 

[skimple]

Good for the UK! Debacles like the Greek economy crisis show the weakness in the Union. Its a great idea when all the players do their part, but when one government basically decides to do whatever it wants instead of following the rules, all of the other players get punished.

This now puts almost the entire economic burden of the EU on Germany.

 

[mnewsham]

This now puts almost the entire economic burden of the EU on Germany.

Good luck negotiating trade deals with the EU after deciding to leave, i'd be willing to bet the EU is going to negotiate HARD with the UK as punishment for leaving, make it hurt hard, and make it noticeable, it's the only way to protect the EU image, especially with all the commentators talking about the start of the fall of the EU.

Punish the UK so other countries aren't tempted to follow.

Besides, the UK imported far more from the EU than it exported, it may have provided decent amounts of cash, but the benefits were free trade with the EU, which is worth far more than they were paying.

 

[tommo123]

all hail pm boris johnson

is he still an american citizen?

yep, could be POTUS :wub:

 

[NikolaeVarius]

Oh man stock market tanked.

I know that its stupid to try and time the market, but I wish I hadn't dropped a ton of money into investments last month... I'm not going to sell anything because that would be stupid, but it would have been nice to capitalize on this drop.

 

[Brainonska511]

Heard some interviews of people that voted for exit being shocked that they are leaving Such a clusterfuck.

LOL. What did they think they were voting for when they checked the exit box?

 

[sdifox]

Next referendum : "Should UK become US colony?"

 

[NikolaeVarius]

LOL. What did they think they were voting for when they checked the exit box?

"I voted for exit because my friends dared me too for 20 quid. I didn't think we would ACTUALLY leave."

 

[sdifox]

LOL. What did they think they were voting for when they checked the exit box?

I guess the fucktards thought this was the proper way to show their discontent with Cameron...

 

[Eug]

Heh. One of the UK tabloids had a funny front page.

"See EU later!"

It looks like today might be a good day to reinvest the dividend cash I've had sitting idle in my account. I've been waiting for a correction. Or should I wait some more?

 

[ponyo]

Oh man stock market tanked.

I know that its stupid to try and time the market, but I wish I hadn't dropped a ton of money into investments last month... I'm not going to sell anything because that would be stupid, but it would have been nice to capitalize on this drop.

meh. The S&P futures are at last month level. So if you bought last month, you're back to where you started. You wouldn't be capitalizing on anything.

 

[cbrunny]

Anyone else that thinks this might fall through and not actually happen? Voter's choice or not - If voters vote to shoot themself in the foot... would you let them?

Financial markets will definitely be interesting. Contemplating maxing my IRA for the year if it gets low enough, but as of right now it's only looking to go down 2-3%

well with Cameron stepping down they'll (likely) elect someone in favour of leaving the EU. So it isn't really likely the gov will stop anything.