EU referendum, brexit and the aftermath

Will she though? Apparently the Queen and Thatcher weren't so chummy.

Holders of US$ have just been able to buy shares in these companies at
a substantial discount.

Technical question - are all FTSE 100 shares bought in sterling? I.e. to buy FTSE 100 shares, does an international investor first need to buy sterling in order to buy the shares, or can they be bought in any currency?

If the former, shouldn't that generate a demand for sterling that drives it against other currencies, or is that demand effect minor in the broader set of currency transactions around brexit?

If the latter, surely loss in value of sterling doesn't imply equivalent loss of value in FTSE 100 companies?

Not an investor, *
but,
I understood that some truly multi-national/transnational companies list on both London and New York stock exchanges to allow would be investors to invest whichever currency they have. I thought the part recovery of £ on Monday was precisely this, even with any costs of buying £, US$ holders could not resist the 'bargains' on offer.

( * bar derisory holdings of de-mutualised companys and indirectly through pension schemes).

I'm not either - just curious to understand it - and I may have first principles wrong.

One of the most mental pages on ROI Facebook but he's a point :p

Good 'ol Ken Clarke:

http://www.bbc.co.uk/news/uk-politics-36679741

http://thebrexitplan.com/

Well, if there's one slightly positive thing to come out of this, it's that Johnson is temporarily out of the picture. I don't believe for one moment that his excuse for bowing out wasn't somehow concocted in cahoots with Gove, and, of course, he'll be back in a few years' time (although he will probably get a post in Government, anyway).

Long-time Johnson-hater Sonia Purnell sums up (some of) the ossuary in his closet:

https://www.theguardian.com/commentisfree/2016/jul/01/boris-johnson-lies-no-10

I can already see it Crumlin without the EU.

Haha good old internet.

interesting analysis

Good read, tx. I agree reforms are needed. I don't see brexit camp being remotely bothered with empowering citizens though.

Johnson's never held a role in the cabinet, has he... And the only thing he actually did whilst occupying the large testicle on the Southbank was to reintroduce the Routemaster, whilst piggy-backing projects that had been sign off by the preceeding administration.

Ill-prepared man for the big job. Perhaps he can go back to writing for publications which I didn't read anyway.

I read that everyone (or in this case the side) Murdoch's backed since 1983 has got into power. Shows you who's really running the show.

Dear villa-ru,

Thank you for writing to me about the EU referendum. I campaigned hard to secure a Remain vote and, although Croydon voted to stay, I am devastated that the majority of voters across the UK chose to leave. We are already seeing how damaging this is with mounting job losses, billions wiped off share values, the pound sliding, the UK’s credit rating downgraded, and a terrifying surge in racist attacks. I hold David Cameron and the Conservatives responsible for gambling with the country’s future in this reckless way.

Following Britain’s vote, there is no certainty the UK will be able to remain in the Single Market, and if we do it may only be on terms far less advantageous to us than we previously had. Once the public start to see just how catastrophic Brexit is for people’s jobs, incomes and prosperity I believe they will start to regret their decision.

In those circumstances, it may be possible to win people’s support for a second referendum after they have the information the Vote Leave campaign failed to offer this time with details of the terms of our exit made clear. That, plus the economic uncertainty that will certainly damage the economy in the meantime, would give voters a clearer understanding of the impact of leaving the EU.

I hope, too, that the Brexit result will convince leaders of other member states that it is in their interests to engage in serious reform of the EU to help tackle growing anti-EU sentiment across the continent. The EU needs to work much harder to make sure everyone in every region benefits from growing European prosperity.

In those circumstances, I would support a second EU referendum, and I will push for my party to include a pledge to do so in our next election manifesto. In the short term I do not believe it would be acceptable for Parliament to over-rule the democratic decision of the British people, but I very much hope we will be in a position to ask the public to consider the matter again before the decision becomes irreversible.

Sincerely,

Steve Reed OBE MP
Member of Parliament for Croydon North

With hair like his, Boris Johnson should partner Joe Hart on the next Head and Shoulders advert. "When you're letting the country down, whether in the sporting arena or genuinely ruining everything, the last thing you need to worry about is dandruff..."

I read that everyone (or in this case the side) Murdoch's backed since 1983 has got into power.

http://www.belfastbarman.com/eu-referendum-for-northern-ireland/

A column on the isolationism in England...then NI....the vs the rest... "either we work together or not at all".

This isn't a great sign.

They do not look like human fingers...

he's a fucking skeksis.

can't be much longer for this mortal coil, surely?

worry is that death just means he'll finally be able to assume his final form...

http://thebrexitplan.com/

https://www.lfgss.com/comments/13077667/

repped for Dark Crystal reference.....now if only we could find his mystic......

yeah, cheers.