OT: the pound is sinking??
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The Euro community might choose to establish big tariffs as "punishment" for Britain leaving, and as a deterrent to other countries thinking about doing the same thing. I think this is pretty likely. The impact would depend on how much of Britain's exported goods go to the Euro community.
2) The bigger potential hit is that Britain could be considered the financial center of the Euro community. Again, this could be imperiled if the Euro administration decides to hit Britain hard. This is where the exit negotiation stuff gets very touchy, and complicated.
I'm not sure right now what leverage Britain has against the EC, unless Britain represented more than 30% of the destination of the goods and services supplied by the other EC states. The successor to Cameron is going to have a very tricky and difficult job to get good exit terms from what I can tell.
That's a very practical reason for Cameron to bail out as well, he's lost, so why do that dirty work for the "other side", so to speak? Let the so-called anti-establishment take a crack at these tough problems and see how they do.
But it won't be a huge barrier - tariffs are potentially reciprocal. Remember that Great Britain is the 5th largest economy and the EU's single largest exporter and let's not forget importer. UK businesses will continue to sell (and buy) to the EU, just as they currently do. There's no need for the EU member countries (aka 'states', which is what the EU Commission's ultimate goal is; to strip all autonomy and sovereignty from member countries and create a 'United States of Europe) and my estimate is that the tariffs will remain more or less the same as they are now.
At least the UK will have the opportunity to decide that it can keep it's vegetables/fish/meat for it's own market if it chooses to. The UK will continue it's role as a major financial hub and business will continue as normal. The UK currently trades with non-EU countries, so dealing with the EU members will likely become more one-on-one and put the burden on the EU member. EU members also trade globally, so no different when dealing with the UK. They're not going to shoot themselves in the foot by alienating/punishing one of their largest potential customers. Just like today when dealing with the U.S., Asia, etc...
Immigration will continue - legally, travel will still be possible, trading partners won't disappear, the Irish and Scottish workers will continue to cross the border. Just as they used to do pre-EU. It's really no big deal.
The only negative that I can see is that some over-paid politicians will now need to dust off their advisors, roll up their sleeves and actually start acting in consideration of the sovereign nation and its citizens. The first thing the UK should do is call the national bank and stop their membership dues payment.
I called KC at home on Friday before he left for work, spoke with his better half for quite a while. I made a bold assumption and after I congratulated her on their victory, not knowing which way they voted, I asked her about several practical aspects. I asked about their local veggie market - where do the veggies come from, the UK or EU? Answer, the EU - even though there are lots of local farms. Same answer for the meat market. T'would be nice if the local farmers could sell internally as well as export. And, the flower shop will continue to import from Holland, though local growers might have a chance to enter the market and compete for a share.
From watching Rick Stein and Hugh Fearnley Whittingstall on TV and listening to the lamentations of not only themselves regarding the state of available foodstuffs, but the producer's frustrations with respect to obtaining market share, I can only assume things will improve.
My own 'local' country - Denmark, at the moment, has voted a few times to leave the EU, always narrowly staying in. Pitiful that pork production is huge over here and all I can buy in my local 7 or 8 supermarket chains is from other EU countries. Same thing with all our veggies. And industrial products follow suit. All the farmers have brand new tractors, all on subsidies. Why???
I agree that the EU has overstepped it's boundaries over time. Each member country is proud hold sovereignty; ask a Frenchman on the sidewalk where they're from or if they're proud to be French - you'll never hear them say they're proud to be European or they're even European. No, they're French, from France. And the other countries are the same. A Dane will never say that they're European, unless pressed. They're Danish, from Denmark and proud of it. The British/UK much the same. (How many U.K. minis have the EU flag on the roof?)
The EU would like them to be European first, then French.. Just like in the U.S.; ask someone on the sidewalk, they're not likely proclaiming that they're proud to be Nebraskan, rather American from Nebraska. But without a common language, currency (across Europe), common elected representative government, there will be neither continuity nor unity. Nobody, not even the most-subsidized/bailed-out EU member will give up their sovereign identity.
The EU will soon collapse and it can't be too soon.
The peasants are revolting...
"Gone with the Wind" - a brief yet moving vignette concerning lactose intolerance
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I'm thinking all the attention on Brexit might have a calming effect on NATO activities and Russian escalation. Last thing we want is another Cold War with Russia.
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Awesome UK, and the countries within, you're a sovereign nation, time to man up and keep your money. Why sending your hard earned money to other countries that sleep all day, always amazed me.
George
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As some of you suggest, there are some countries that might be considering leaving the EU as well. Spain would be one of them. They/we are voting tomorrow again to choose a president. General elections were held last December but the votes were so spread out among the four main parties that they could not/ did not want to agree to form a government.
As a result, Spaniards are beckoned to vote again tomorrow. Needless to say that they are quite disappointed, tired and annoyed about this and many are not even going to vote. UK leaving the EU has opened the eyes to many.
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"Nigel Farage warns today he would fight for a second referendum on Britain in Europe if the remain campaign won by a narrow margin next month.
The Ukip leader said a small defeat for his leave camp would be “unfinished business” and predicted pressure would grow for a re-run of the 23 June ballot.
Farage told the Mirror: “In a 52-48 referendum this would be unfinished business by a long way. If the remain campaign win two-thirds to one-third that ends it.”
The threat by a veteran of the Europhobic struggle to pull Britain out of the European Union illustrates why David Cameron is desperate for a decisive result to avoid “neverendum” uncertainty in the country and Tory ranks.
The Ukip leader’s declaration of defiance raises the prospect of the Brexit brigade copying Scottish Nationalists chivvying for a second independence referendum since losing by 55.3%-44.7% in their 2014 plebiscite on breaking up Britain.
That’s why the Prime Minister’s yearning for a clear victory to answer the Europe question in favour of staying in and quelling Brexit fanatics in his own ranks. In the event of a defeat Farage, who maintains Britain will vote to quit the EU, would exploit claims the referendum was unfair after the Government dubiously spent £9m on a leaflet to every home."
The result was close 52-48 but the then worried 'loser', now 'winner' will surely change his rhetoric. Some like to have it both ways...or one could surmise he was then setting up his referendum exit strategy.
Things will get more interesting...the Petition now signed by almost 2 million - with many more weeks to go - for a second referendum is but one story line.
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If it's not Scottish....it's crap! (Cry of the Mini Tartan Owners' Clan)
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The Euro community might choose to establish big tariffs as "punishment" for Britain leaving, and as a deterrent to other countries thinking about doing the same thing. I think this is pretty likely. The impact would depend on how much of Britain's exported goods go to the Euro community.
2) The bigger potential hit is that Britain could be considered the financial center of the Euro community. Again, this could be imperiled if the Euro administration decides to hit Britain hard. This is where the exit negotiation stuff gets very touchy, and complicated.
I'm not sure right now what leverage Britain has against the EC, unless Britain represented more than 30% of the destination of the goods and services supplied by the other EC states. The successor to Cameron is going to have a very tricky and difficult job to get good exit terms from what I can tell.
That's a very practical reason for Cameron to bail out as well, he's lost, so why do that dirty work for the "other side", so to speak? Let the so-called anti-establishment take a crack at these tough problems and see how they do.
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People react to hearing their currency has fallen as a blow to their ego and miss the trade benefits it provides. In fact, the Americans on this very board are saying how many mini parts they want to buy "while they are cheap", which is usually a good thing for business.
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But always glad to know you were a past satisfied customer
Stay healthy
Big AL
Niagara Ontario Canada
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Retired manufacturer of VTEC/Mini performance conversion kits
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Oh and Big Al, no offense you're Canadian, so leave my president out of this, he didn't cast a vote to leave or stay so this wasn't his fight, and he's none of your business. I don't criticize your PM's response to this so don't criticize my president's.
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Mini's are like buses they come along in a bunch
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Given all the knocks against a European future and open & alleged dissatisfaction with countries & peoples hither & yon...how long will it be before conflicting agendas arise as they did in the past? I don't know...but bad vibes seem to be on the ascendant.
Great Britain may not long survive and become Lesser Britain minus Scotland & Northern Ireland. Surely the UK Parliament can not deny to Scotland & Northern Ireland a vote on separation from the UK given the wild cheering by some over the Brexit results?
This is a big, big story barely 70 years after the last World War.
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France is now making noises about wanting a say on their Membership, with Sweden, Holland also lining up for a Referendum. This is not the entity that we signed up to in 1975. It has grown into a lopsided monster.
Its a fact that all the Southern European States, like Greece, Italy, Spain and Portugal have no real Industrial base, relying almost entirely on Tourism, and handouts from EU. The latest candidates from the former Eastern Bloc are in a similar predicament. Then you have Turkey lurking on the sidelines wanting to join. They have a Muslim population of 77 million and apart from the Tourist venues, are poor as church mice.
If you had a customer buying 860,000 cars from you every year, would you slam the door in their face?
Thats what GB takes from the German manufacturers every year.
The French are also useless when it comes to Farming, and are heavily subsidized, because their farms are too small and inefficient. Greece? Lazy as a cats hairy, and expert at cooking the books to gain access to the Golden Goose in Brussels. Spain and Greece's youngsters are growing up with no job prospects, so they are having to leave their home country and go elsewhere to try and find work.
The original Common Market idea was great in principal, but as it's grown larger, it's overstepped its authority and is now dictating laws and policy to sovereign Countries. Cameron was toothless and alleged he'd got a great deal for GB, when in actual fact he'd got nothing. He at least did the honorable thing and resigned.
Im glad we are going to have control again over our borders and Law systems. Yes, it's going to be hard times ahead, but the alternative is worse in the long run.
Regarding a 2nd Referendum for Scottish Independence...Sturgeon is desperate to push ahead, but I think she would be better taking a step back, as the electorate are sick and tired of bloody Referendums. Jim
Saor Alba
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3-4 points does not a landslide make one way or the other. Interesting too that Farage, a leading Brexit campaigner & party leader, said (within hours of the ballots being counted) the promise of 350 Million Pounds Sterling per week [approx. 6 GBP per person] to the National Health Service was a "mistake". But it got the schemer the elderly vote.
The UK story will get more & more interesting. Stay tuned and Mind The Gap!
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It's been fun, but this place is done. I have no hatred, and appreciate the good times. But this place now belongs to Tony and his pink mini.
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Can't you guys get rid of him ?
Big AL
Niagara Ontario Canada
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"Retired: No Job, No Money, Wife and I! Will travel anywhere for Minis"