EU Referendum: The result and aftermath...

[Butts]

And the pound hovering about the $1.40 mark and looking like it'll drop through shortly. I make that a 7% or so drop. Not good.

Good for exporters !!

 

[507021]

Chelmsford votes leave.
Hart votes remain.
Bolton votes leave.

Edinburgh votes remain.

 

[Domh245]

Scotland with a firm remain majority with 3 constituencies still to declare.

 

[Rich McLean]

Riding on the London Vote, but a lot of area's on the outskirts of London are also voting out

 

[Domh245]

Eep! Down to $1.37 now (near enough 10% drop). I've now watched an currency tank like this before.

Apparently, lows that we haven't seen since March 2009

Now hovering about $1.35

 

[Rich McLean]

Predicted to be down to $1.01 if we leave the EU. It could get even lower than that.

 

[kermit]

Good for exporters !!

To be clear, when the Pound falls, it means that the few goods we still produce, which are high value/low volume, become much cheaper for other countries to buy.

Like in a clearance sale.

Or liquidation.

Not good

 

[Gutfright]

Farage claiming a Brexit victory already. Bit premature imo.

 

[Rich McLean]

Also with the pound value falling, your wages will be worth a lot less, and bills along with cost of products will rise through the roof. Not just certain items, but everything will cost more

 

[Butts]

Also with the pound value falling, your wages will be worth a lot less, and bills along with cost of products will rise through the roof. Not just certain items, but everything will cost more

So when the pound rose everything suddenly became a lot cheaper ?

 

[TheKnightWho]

Good for exporters !!

And absolutely terrible for the economy, as we are a large net importer.

 

[Domh245]

For those who prefer pictures to words:

Pound sterling now at lowest value since 1985

 

[Rich McLean]

So when the pound rose everything suddenly became a lot cheaper ?

No. Think of it this way.

If our currency is weaker against others, we will have to pay more for those products. With a big drop in currency will cause prices to rise.

The pound has rose steadily over the years, but with inflation set slightly higher, the value of product wouldn't have really gone down.

With such a big drop, importing goods will cost a lot more, which will drive up prices

 

[Domh245]

Reports of Birmingham having gone for leave, which may well be a final nail in the coffin.

 

[HMS Ark Royal]

Results in Hull Leave 76,646 Remain 36,709

 

[Strathclyder]

In Scotland, Dumfries & Galloway has voted Remain (53 to 46). Only Aberdeenshire to go now.

 

[HMS Ark Royal]

I think it is all time we dust off our knowledge of Article 50

 

[Domh245]

Well, Scotland went full remain, and was second area to finish after Wales (who went in favour of Brexit). Northern Ireland look set to end remain, but it doesn't look good.

 

[HMS Ark Royal]

In Scotland, Dumfries & Galloway has voted Remain (53 to 46). Only Aberdeenshire to go now.

Aberdeenshire vote remain - Leave 45.0% Remain 55.0%

 

[Domh245]

BBC now calling it as out.
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And now Birmingham votes out 50.4% I guess that settles it

 

[HMS Ark Royal]

I wonder if there is any chance "IN" can win now...
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The reason Hull will have gone for a leave is because we used to be a big fishing city... And we have long memories

 

[Domh245]

I wonder if there is any chance "IN" can win now...

Statistically, yes. In practice, it'd mean that every result from here in one would need to be massive remain victory, which is looking unlikely

 

[Gutfright]

BBC forecast: UK votes to leave!!!

 

[TheKnightWho]

Pound slumping fast yet again.

 

[Domh245]

On a lighter note, now slipped past $1.34 and still going down
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I suppose we also see the inevitable lesson about the overlap of how people on the internet vote, and how actual people vote.

 

[HMS Ark Royal]

You know, whilst this is about the UK, I wonder if this will "let" other countries do the same thing

 

[TheKnightWho]

On a lighter note, now slipped past $1.34 and still going down

This isn't good...

 

[Domh245]

You know, whilst this is about the UK, I wonder if this will "let" other countries do the same thing

I fear that we will be made an example of in an attempt to scare other countries off of doing this but it certainly could be the beginning of the end of the EU

 

[Flying Snail]

No. Think of it this way.

If our currency is weaker against others, we will have to pay more for those products. With a big drop in currency will cause prices to rise.

The pound has rose steadily over the years, but with inflation set slightly higher, the value of product wouldn't have really gone down.

With such a big drop, importing goods will cost a lot more, which will drive up prices

€ is also seeing a big fall, not quite as much as £ but still fair to say you lot are dragging the rest of us down with you.

 

[HMS Ark Royal]

I fear that we will be made an example of in an attempt to scare other countries off of doing this but it certainly could be the beginning of the end of the EU

Indeed...

"LEAVE" leading by 943,928