UK will leave the EU after referendum vote; Cameron resigns, elections in October

#1

Update:

The UK has voted to leave the European Union after 43 years in a historic referendum.

Leave won by 52% to 48% with England and Wales voting strongly for Brexit, while London, Scotland and Northern Ireland backed staying in the EU.

UKIP leader Nigel Farage hailed it as the UK’s “independence day” but the Remain camp called it a"catastrophe".

The pound fell to its lowest level against the dollar since 1985 as the markets reacted to the results.

And there it is. Uncertain times for Europe. I’m considering buying pounds, then exchanging if/when the economy bounces back, but I’m not sure if it will. @LabouredSubterfuge post if you’re ok

The UK’s EU referendum is proving close but the Remain campaign appears to be failing to pick up enough support outside London to win.

At 0345 BST Leave were ahead by over 500,000 votes, with the English shires and Wales voting strongly for Brexit.

Scotland and Northern Ireland appear to have opted for Remain and London has voted emphatically to stay in the EU.

It is a surprising turn of events. Last I checked on this, the Remain vote was ahead by more than 10%. This won’t be good for the EU, overall. (nor Cameron, lol)

#2

No, I’m not ok.

I’m absolutely fucking furious.

#3

Cameron resigned; new PM in October.

This is the man who seems like will be the next PM. I… see.

We’ll have Donald Trump and British Donald Trump. World is fucked.

#4

https://twitter.com/silentmammal/status/746167238827319296

#5

This is good news. Brexit will take years to adjust to the new market condition. It is normal that problems will be faced at the start that should sort themselves out.

I didn’t like how politicians were fear mongering the citizens to manipulate the voting. There were some absurd quotes that went too far.

I’m glad about this news because this will be the first case where a country exits from EU. This will show us what will really happen instead of relying on fear mongering. Brussel has too much political influence to the point where countries don’t have their independence anymore. It’s going to be exciting following this development.

#6

so the general perception i have on this is that the racists won?

#7
#8

Can you explain why you have that perception?

#9

[quote=“RpgN, post:5, topic:611, full:true”]
This is good news. Brexit will take years to adjust to the new market condition. It is normal that problems will be faced at the start that should sort themselves out.[/quote]

I want to preface this by saying I’ve only started learning about this in the past couple days. What I do know is that the british pound is in a freefall. I am by no means an expert but if Brexit is allowed to happen (there still might be hope it won’t? I’m not sure) it would appear that years would be an understatement. I would not be surprised if it took at least a decade for the economy to recover. That doesn’t just affect them either, this could cause a global recession. This seems like a complete fucking disaster.

This is actually the worst part. By all accounts, the thing they wanted to accomplish isn’t even going to be achieved by leaving the European Union. So the main goal wasn’t accomplished and the economy has been destablized for…what gain exactly?

So with all of the above what you’re saying seems particularly galling. I’m willing to, as a non-european, accept that I may not fully understand or have misunderstood something, but this doesn’t seem interesting to me at all, it seems scary.

#10

Huh, that’s unexpected. Will other countries leave too?

#11

No! Please god no. The world needs less borders, not more!

#12

The value of currencies dropping is a very normal occurrence after certain economical/political events (even if the pound hasn’t been this low for decades). This has been repeated often throughout history. A decade is an overstatement and the next global recession won’t be caused by their exit. A lot of predictions conducted have been made with the assumption that there won’t be any intervention. The situation will be controlled with the help of monetary policy and monetary instruments along with certain adjustments.

On what grounds are you basing this conclusion? Being part of the EU union means that countries who take part of that give up on economical and political dependency while the gains are examples such as trade benefits and open borders. Now they can have their independence back while new trades and agreements can be made to replace the benefits that have been lost. You seem to forget that, regardless of this, UK and EU will remain to have a close relationship. If necessary, UK can be treated like other EU countries who aren’t part of the EU union but still get all the trade and border benefits through a different title.

There is no need to be scared. All the uncertainty from stocks, currencies and companies is normal until new agreements are made. What have you been reading that is making you so afraid?

#13

But why do they need to be independent? If I shoot myself in the foot I can make arrangements to get treatment and eventually be healthy again, but why am I shooting myself in the foot to begin with?

#14

Because you get more disadvantages out of being dependent. Haven’t you been following how things work in EU? The states have little to no power when they are part of the EU union. Even if a country wants to make changes to benefit themselves, it will most often be shot down by Brussel. A country is not allowed to pass a new or independent law. All laws are made by the EU Law and this is passed down to other countries. Countries are and were forced to give money that could be spent on themselves. This is something that we deal a lot with in the Netherlands. For years we had more fonds compared to other EU countries. What happened was that, because of this, we had to give more money to countries that needed it. Or we had to ‘create’ money through ‘saving’ money which hurt the population just to give more money.

The benefits are nice for being dependent, but they’re not enough to offset the sacrifices being made in my opinion. That’s why I am interested in seeing what will happen with the UK. If things work out well, I hope other countries consider this too. Or the decision making body will have to give some power back to the states and offer more benefits.

#15

twitter and UKIP

#16

Well no, I haven’t. As it doesn’t directly affect me, I don’t keep a close eye on it. American politics takes enough of my mindspace as is.

I don’t know if it’s exactly 1:1 but it sounds like you’re saying the state of UK didn’t like paying taxes to the government and wanted to secede from the union. The state of Netherlands is upset because they have more wealth but are taxed at the same rate as other states so they have to pay more in taxes.

#17

The EU has flaws in its system, but this isn’t going to be good for the UK moving forward, economically and politically. If Boris becomes the next prime minister in October, then the far-right will be in power. That’s equivalent to the Republicans getting into the White House.

Anyway, this is all Cameron’s fault. He allowed this referendum to happen because he was the one who announced having one. He was sure that the remain vote would win. And even though the prime minister has the authority to reject the refenderum results, doing so would be political suicide for him, as it would only hasten the Tories’ favorite, Boris, to have a strong possibility of being prime minister. He had to honor it.

There are already murmurings of other EU members, like France, Netherlands, and some other countries to get out of the EU, so a domino effect is a possibility, although interestingly enough, Northern Ireland and Scotland want to gain independence and stay in the EU, in light of UK leaving the EU. It benefits them more to stay in the union.

@LabouredSubterfuge I’d like to hear your thoughts on all of this when you got the time.

#18

Yes. This is the unfortunate and unpredictable. Not because UK decided to leave the EU Union.

#19

Londoners on social media are desperately calling for the city to break away from Britain after the rest of England backed Brexit.

What a strange couple of days it’s been.

#20

Oh, nothing to worry about then. The money is just going to go…somewhere. We’re not sure.