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Leaving the EU

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I cant help thinking that people get confused with the £ to Euro/$ rate. All I know as a tourist at beginning of December I started to monitor purchasing Euros for a holiday in January. The rate was 1-40 to the pound and just before Christmas I purchased at 1-35 to the pound as of yesterday the tourist rate was 1-16 to the pound that to me is not good and I cannot be positive with the outlook with a drop of nearly 20% and similar with the $. This cannot be good for shop prices, inflation and future oil prices or price of fuel at the pump.

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According to the BBC website someone has started an on line petition to try and get the decision discussed in parliament to try and get it overturned due to the number of people having voted and the closeness of the result. Only 100,000 signatures are required and so far there is over a million.

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I cant help thinking that people get confused with the £ to Euro/$ rate. All I know as a tourist at beginning of December I started to monitor purchasing Euros for a holiday in January. The rate was 1-40 to the pound and just before Christmas I purchased at 1-35 to the pound as of yesterday the tourist rate was 1-16 to the pound that to me is not good and I cannot be positive with the outlook with a drop of nearly 20% and similar with the $. This cannot be good for shop prices, inflation and future oil prices or price of fuel at the pump.

1.23 now..not so long ago there was parity...one euro to one pound.

Nobody was slashing their wrists then.

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According to the BBC website someone has started an on line petition to try and get the decision discussed in parliament to try and get it overturned due to the number of people having voted and the closeness of the result. Only 100,000 signatures are required and so far there is over a million.

Signed it on facebook today, now past 2 million.

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Some good news after yesterday. The £Pound today has risen significantly against the $Dollar and €Euro. The FTSE has regained by two thirds and is now higher than it was in January, February and March this year. The USA, Canada and Germany all want to do trade deals with the UK. Lets be positive.

Good to be positive OWT but finding it difficult at present.

The companies on the FTSE are of course multi-national with global earnings so they are not that heavily exposed, while the pound will become a "football" over the next year.

The "nuclear trigger" lies with the ratings agencies, who have already moved to reduce the UKs triple A debt rating.

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1.23 now..not so long ago there was parity...one euro to one pound.

Nobody was slashing their wrists then.

As at close on Friday the tourist rate for the Euro on the BBC website is 1-1622 the rate of 1-23 is not the rate for buying currency for holidays but inter bank rate.

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Good to be positive OWT but finding it difficult at present.

The companies on the FTSE are of course multi-national with global earnings so they are not that heavily exposed, while the pound will become a "football" over the next year.

The "nuclear trigger" lies with the ratings agencies, who have already moved to reduce the UKs triple A debt rating.

 

Which will mean higher interest for the UK on their loans so will mean to pay for it more cuts due very soon.

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Which will mean higher interest for the UK on their loans so will mean to pay for it more cuts due very soon.

Yes, they have been incredibly good to us since 2008 allowing us to enjoy lowest interest rates on sovereign debt, but the interest rates on this debt is still £40 billion a year and rising, before we even spend a penny on public services.

London effectively pays for the NHS and on day one Morgan Stanley decided to leave.

Every exit is a "double whammy nail in the coffin" of lower ratings and reduced corporation tax that could become a flood, and take the yearly interest payments beyond what the UKs reducing GDP can repay, at which point we enter "banana republic" territory and are forced to print money.

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Lets be positive about this ........Does nobody remember what it was like living in the Uk prior to joining EU. ..........

I do !

We travelled abroad for our holidays without problems !

We had a very good NHS !

We went on cruises !

We got our foreign currency !

We had passports !

We had mortgages !

Think positive !

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Lets be positive about this ........Does nobody remember what it was like living in the Uk prior to joining EU. ..........

I do !

We travelled abroad for our holidays without problems !

We had a very good NHS !

We went on cruises !

We got our foreign currency !

We had passports !

We had mortgages !

Think positive !

We also had huge manufacturing industry in the Midlands and North of England that paid for the NHS, and is now long gone.

Not "think positive", more like "get real".

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Can Assure you I get real I live in the North !....Negative thinking gets you nowhere !

That thinking is nonsense, even on a personal level.

Positive thinking will always be good when thinking about your holiday, but build an extension to your house and you had better get negative and find out who the "cowboy builders" are and get them off your list, otherwise "tears will follow".

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That thinking is nonsense, even on a personal level.

Positive thinking will always be good when thinking about your holiday, but build an extension to your house and you had better get negative and find out who the "cowboy builders" are and get them off your list, otherwise "tears will follow".

You are have to be joking ...what have cowboy builders got to do with anything !

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You are have to be joking ...what have cowboy builders got to do with anything !

 

You are have to be joking ...what have cowboy builders got to do with anything !

I obviously do no know you but made an attempt to put the importance of negative thinking in certain situations in a format that you might understand.

Clearly I needed an even simpler example.

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Lets be positive about this ........Does nobody remember what it was like living in the Uk prior to joining EU. ..........

I do !

We travelled abroad for our holidays without problems !

We had a very good NHS !

We went on cruises !

We got our foreign currency !

We had passports !

We had mortgages !

Think positive !

Yes I do and the world was a safer place in those days than it is now and the world has changed dramatically since and the Commonwealth is not as big and Britain is not as Great. We should be living for the present and the future not living or try to live in the past.

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Yes I do and the world was a safer place in those days than it is now and the world has changed dramatically since and the Commonwealth is not as big and Britain is not as Great. We should be living for the present and the future not living or try to live in the past.[/quote

Nor do I live in the past Sinbad...the past is history .I look to the future always with a positive mental attitude ..it works wonders !

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Stayed out of all the commotion, I have to stay out of all voting and electoral discussions as I process votes. My first thought Friday morning was a little shocked but I already knew it would be incredibly close. But we just have to get on with it, we are a democratic country and that is following the will of the majority. When all the scaremongers said about the stockmarket crashing I looked at the graph for the past year and noticed it was about average. Most other countries fared worse and I wondered what do the traders know that I don't? Went to pay our holiday balance Friday and chatting to the lady behind me she had gone to buy euro's for her holiday.'bet you wish you had bought them yesterday' I said. She shrugged and got out the receipts for the last 4 lots of euro's she had bought. The rate she got Friday was the second highest. So I will keep calm and believe in the people of the UK, and hope there is a politician out there who is up to the job.

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Totally agree with you Seawitch the scaremongers on TV have been backtracking today !

As you say we are a democratic country and the people of UK have spoken so we all have to get on with it in the best way we can whether we like it or not .

Nobody can really predict the outcome as we are in an unprecedented situation .

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That 'petition' was started by a Brexiteer to combat what he thought was the threat that the Remain camp would win - so funny.  It had a whole 22 signatures before the vote - now look at it!!   Clutching at straws comes to mind.    The Germans have already stated moves to protect their car industry - they won't be alone in looking to ensure that countries have good trade deals with us.  The EU bureaucrats are behaving as they have always done in demanding that we move to leave now - yet more of the 'do as I say' mentality of the unelected.   Of course, they have their very well paid jobs and fantastic lifestyles to protect, so we shouldn't be surprised.

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It's becoming increasingly clear that Boris did not expect a "no vote", and he will really need to get much more enthusiastic about triggering the exit negotiations with the rest of Europe, whatever his eventual plan is.

Otherwise he will be offered the "dregs".

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I don't think there will be any 'dregs'.   I think it is wise to wait a short while to see how/when/if the rest of the EU starts to implode - because that may make a big difference.   If nothing happens then we should move in.  But it also gives us more time for countries to decide, rather like the Germans have, that it is far wiser to play ball with us than to ostracise us - far, far wiser IMO.   We'll see.   As nations (and I include the USA in this) we need to start to 'fight' the political elite.   They don't have the best interests of their people at heart and need a very loud wake up call - the people of this country at least have had the courage to give them that.

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