The Brexit referendum thread: potential consequences for GB, EU and the Brits in CH

[marton]

	Quote:	amogles
	Obviosuly you bear no responibility whatsoever for anything you mention in any other thread?

Not if it is quoted completely out of context which is hard to evaluate when there is no guidance about what thread on which topic!

[fatmanfilms]

	Quote:
	FTSE has lost more value in past 12 months than all the money paid by UK to EU in last 45 years since we joined - and we haven't left yet ...

What an absurd comment, FTSE companies are not owned by the government or the people, It's a gearing on future profits in GBP.

FTSE is higher than before the referendum, so business still see leaving as a good thing for their companies profits in GBP

	Quote:	amogles
	Maybe I'm getting different news than I am, but most of the angry people frothing at the mouth stories I've been reading have been about vile Indian and Chinese buinessmen being fast tracked for citizenship because they're putting big money on the tables of the poorer EU countries, and probably not even taking up residency but just keeping their new passport in their back pocket as an insurance.

I can attest from personal experience (living next door to one in Cyprus!) that Russians are plonking money in the BoC at record rates, and the island is even housing Russian banks (USB for example) to smoothe the process. Abramovic recently bought the penthouse apartment in the new Limassol Marina where he likes to dock his yacht - I suspect he will live in it about 0.1% of the year, tops...it might be convenient to be able to get an easy EU passport considering the UK is cracking down on him though.

	Quote:	fatmanfilms
	Switzerland allows rich people to rock up & do tax deals, not only EU countries.

Whatabou....

Oh never mind.

	Quote:	fatmanfilms
	What an absurd comment, FTSE companies are not owned by the government or the people, It's a gearing on future profits in GBP. FTSE is higher than before the referendum, so business still see leaving as a good thing for their companies profits in GBP

Let's just hope they source everything they need in the UK then...getting anything from abroad will be prohibitive currency and probably tax wise.

[amogles]

	Quote:
	I can attest from personal experience (living next door to one in Cyprus!) that Russians are plonking money in the BoC at record rates, and the island is even housing Russian banks (USB for example) to smoothe the process. Abramovic recently bought the penthouse apartment in the new Limassol Marina where he likes to dock his yacht - I suspect he will live in it about 0.1% of the year, tops...it might be convenient to be able to get an easy EU passport considering the UK is cracking down on him though.

Well, my personal experience has been a bit different, as have the reactions from angry people who got worked up about it as well as newspapers and politicians who commented on it.

So you see how one's personal impressions can skew the overall picture of the rest of it?

[fatmanfilms]

	Quote:
	Let's just hope they source everything they need in the UK then...getting anything from abroad will be prohibitive currency and probably tax wise.

FTSE 100 companies make more money abroad than in the UK, amazed you believe otherwise. HSBC for example operates in 67 countries. HSBC accounts for 9.22% of the FTSE 100

	Quote:	fatmanfilms
	FTSE 100 companies make more money abroad than in the UK, amazed you believe otherwise. HSBC for example operates in 67 countries. HSBC accounts for 9.22% of the FTSE 100

A bank isn't really a prime candidate for sourcing materials from abroad now, is it?

[k_and_e]

	Quote:
	Let's just hope they source everything they need in the UK then...getting anything from abroad will be prohibitive currency and probably tax wise.

Why would sourcing be a problem? Do you think that companies wouldn't like to sell their products to UK consumers and companies? That would be a new milestone in economic history.

	Quote:	amogles
	Some people who voted leave have died. Some people who voted remain didn't die. Which is a good thing, as otherwise they might now be dead.

Ah shame, you do seem a bit confused

[fatmanfilms]

	Quote:
	A bank isn't really a prime candidate for sourcing materials from abroad now, is it?

Royal Dutch Shell is also 9% of the index, very little of the index sources raw materials from abroad, industrials make just 9%. It's really an index of international companies that are listed in London, being the 2nd biggest exchange after New York.

	Quote:	fatmanfilms
	Royal Dutch Shell is also 9% of the index, very little of the index sources raw materials from abroad, industrials make just 9%. It's really an index of international companies that are listed in London, being the 2nd biggest exchange after New York.

The good thing about international companies is that they are tied to a single country like the UK, even when trading conditions become unfavourable. Oh, wait.

[fatmanfilms]

	Quote:
	The good thing about international companies is that they are tied to a single country like the UK, even when trading conditions become unfavourable. Oh, wait.

What do you mean they are tied to the UK? They are companies traded in London who make the majority of their earnings outside the U.K. Their share price is in £ so will rise if the £ falls as earnings expressed in £ will be higher.

[Urs Max]

	Quote:
	What do you mean they are tied to the UK? They are companies traded in London who make the majority of their earnings outside the U.K. Their share price is in £ so will rise if the £ falls as earnings expressed in £ will be higher.

You've just explained that the higher FTSE doesn't represent a higher monetary value. Put another way, you've voided your own point.

[Blueangel]

	Quote:
	I can attest from personal experience (living next door to one in Cyprus!) that Russians are plonking money in the BoC at record rates, and the island is even housing Russian banks (USB for example) to smoothe the process.

funny you should mention that.

We went Cyprus in September with less than 48hrs notice and no time to research properly. We started with a stay in Larnaca, which was a pleasant surprise, then based ourselves in Paphos for the first week and had a provisonal booking for the 2nd week in Agia Napa with the intention of seeing where the mood took us. Three local businessmen in Paphos told my OH to give Limassol the swerve because of Russian mafia. Just wish they'd also warned us about the road to Lara Beach

[fatmanfilms]

	Quote:	Urs Max
	You've just explained that the higher FTSE doesn't represent a higher monetary value. Put another way, you've voided your own point.

If you live in the UK you benefit, only foreign investors break even.

[greenmount]

	Quote:	Tom1234
	Trying to leave the EU in two years with all boxes ticked was an impossible task. What the U.K. is doing in leaving the EU is unprecedented. I bet the figure of two years was plucked from the air by some Brussels minion. Theresa May and the current government are doing as well as expected. I'm not sure how they could have done better within the time frame given.

Assumption is the mother of all.....The 2 years term for "exit" was established by yours, truly Theresa May, as well as the deal she negotiated with EU. She consulted with a few loyal "advisors" and that was all. Political ambitions bigger than life.
But she is the minion here...I remember I also used to give her more credit than she deserved.

If you can, read the last articles in the Economist on this theme and inform yourself better.

[k_and_e]

	Quote:	greenmount
	Assumption is the mother of all.....The 2 years term for "exit" was established by yours, truly Theresa May, as well as the deal she negotiated with EU. She consulted with a few loyal "advisors" and that was all. Political ambitions bigger than life. But she is the minion here...I remember I also used to give her more credit than she deserved. If you can, read the last articles in the Economist on this theme and inform yourself better.

Article 50 defines the 2 year term, not Theresa May.


Also, I believe that the proposed deal between UK and EU was the best result that could be achieved at that point in time. The EU's intention was to make it unattractive for a country to leave but I don't believe that anybody realistic in the EU ever expected this deal to be signed by the UK as it isn't exactly a good deal.


I'm not sure if May did well but at least she has bigger balls than the undemocratic Cameron, who poorly organized a referendum, refused to implement a deal and ran off with his tail between his legs.

[Blueangel]

	Quote:	k_and_e
	The EU's intention was to make it unattractive for a country to leave but I don't believe that anybody realistic in the EU ever expected this deal to be signed by the UK as it isn't exactly a good deal.

What do you believe a good deal would consist of?

[k_and_e]

	Quote:	Blueangel
	What do you believe a good deal would consist of?

Realistically, I think you need to compare it with agreements that other non-EU countries have with the EU.