EU referendum, brexit and the aftermath

Can't wait to go out, will be free from the shackles of the dublin agreement so everyone who made a mistake and applied for asylum to somewhere silly like germany of france can apply here instead.

http://www.bbc.co.uk/news/uk-politics-36717447

Good 'ol Ken Clarke telling it how it is.

amazing

That would not have been released by Sky News without a Murdoch rep's approval. Not being a conspiracy loon, but I'd say the recording was unintentional the subsequent release not so.

I'd say the recording was unintentional the subsequent release not so.

This is true.

That is the intended effect.

I never thought Ottolenghi would be used as a liberal dog whistle.

M & G and Aviva suspend property funds

http://www.bbc.co.uk/news/business-36715806

There was a time when every one thought the value of tulip bulbs could only go up.

What? My pension is invested in tulip bulbs. Has something happened?

commercial property funds. Not residential. Commercial property is predominantly owned by investors, residential is 85% owner occupied.

Also, Tulips are filthy EU flowers. What you need is a good old Daffodil from Western Britain.

Does anyone actually think we will leave?

The people who voted leave. Which puts the country in an awkward position.

Yes - in that pretty much all the nice citizen stuff will go, but we'll have to have access to the single market, and for that, we'll have to do some kind of deal on immigration.

Or the EU will implode and there will be nothing to leave before we get round to it.

The longer the invocation of article 50 is delayed, the less likely we'll leave.

There is a bullshit rumour knocking around online that claims that the UK won't be able to enact article 50 after 1st April 2017 because of a change in law that means that article 50 can only be enacted by a majority vote by EU member states.

Clearly total bullshit, originating from one tin foil hat wordpress site but being quoted as gospel all over the shop.

Perhaps some people will be happy if the UK leaves the EU as it means it doesn't get involved in an "undemocratic cabal"

(reading that the EU commission is now trying to get TTIP through the backdoor greatly annoys me. but such tricks aren't above the politicians here either...)

I personally don't see the point then. Barely any money saved. No big deal on immigration as if Norway doesn't get one and neither does Switzerland why would the UK? Spending a shitload on renegotiation...

And leaving the EU fully is pretty risky and may lead to the UK being the USA little helper (more than it already is) Oh well. The very slow train crash continues.

In reply to Hefty:

Yes, I know those are commercial, but with an over inflated price bubble it won't take much to cause a panic.

So some good could come from this mess.

The problem for property funds is that they maintain a very small cash box to handle redemptions. In a normal market the subscriptions will offset redemptions and this small cash box will suffice. Remember this is a way of providing liquid investment into very illiquid investments, with risk. One risk being that where there is fear of a fall in property, regardless of any actual fall, redemptions will outstrip subscriptions and the cash box will soon empty. Because the assets are so illiquid, the fund has to shut to redemptions. Closing in this way gives the fund the chance to liquidate assets in a semi orderly way, unfortunately this can trigger a fall in asset values because all these funds are suddenly selling. Again though, this is triggered by redemptions due to a fear of falling asset prices that ultimately leads to a fall in asset prices. Classic run scenario. The more we talk down our economic future the closer we get to a self fulfilling prophecy. When the reality is, we're probably fucked anyway.

Sterling falls to record low in Asian markets. Thankfully a lot are closed for religious celebrationsor holidays or it could be worse.

http://finance.yahoo.com/news/brexit-direct-democracy-referendums-000000954.html

Interesting read on "too much democracy"

From Tom Newton-Dunce on Twitter this morning.

Obviously it wasn't the Sun wot won it

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London bridge is a bit late with its warnings...

Haha 😃

lol very good