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Today 23:50Price: 55.54
longtimeinvestor4,954 posts
RE: Oops - el grave error!!!

Snige
What has cashing in on some funds got to do with the UK handing over large sums of money to the EU each year (now more than half a Trillion pounds in total) ?
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Today 23:45Price: 55.54
snige3,112 posts
RE: The EU is a busted flush

Fleccy,we have a devalued currency but it's done zilch for us.So you come round full circle and you realise it's crap government.
50 years to build a third runway at Heathrow and still no construction work till 2021.Can't think the Germans,Chinese or any other country would put up with it!
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Today 23:22Price: 55.54
Lasttrain257 posts
Verhofstadt - UK can REMAIN in EU!

All going well when the smart politicians get their heads around the table in the coming days they will come to their senses and cancel this whole Brexit thing!

Besides, we have permission from the EU to stay in the block.

ATB
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Today 22:41Price: 55.54
SUFCESSEX7,531 posts
City will be happy

And will reward FTSE 100 UK companies
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Today 22:39Price: 55.54
fleccy2,656 posts
RE: The EU is a busted flush

"Good for Germany. Could have been us, but the Germans are clearly a lot smarter."

Not true, there was good reasoning behind the UK not joining the Euro.
We were badly burned during the ERM crisis, (Black Wednesday) and we can, in part, thank George Soros for that, he probably saved us from making a huge mistake in the future.

"In the months leading up to Black Wednesday, George Soros had been building a huge short position in pounds sterling that would become immensely profitable if the pound fell below the lower band of the ERM. Soros recognized the unfavourable position at which the United Kingdom joined the ERM, believing the rate at which the UK was brought into the Exchange Rate Mechanism was too high, their inflation was also much too high (triple the German rate), and British interest rates were hurting their asset prices.[6] Soros made over 1 billion[7] in profit by short selling sterling."

https://en.wikipedia.org/wiki/Black_Wednesday

It's ironic that Soros is a big remain funder and considering that his actions probably lead to us not joining the Euro and therefore making it much easier to leave.
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Today 22:28Price: 55.54
eviking1,741 posts
RE: The pound.. up a bit.

David was a strong eu remainer. If you don't believe how is it possible to negotiate a fair deal?
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Today 22:24Price: 55.54
SUFCESSEX7,531 posts
RE: The pound.. up a bit.

''' Here we go again. She will go back to Europe to talk Brexit again with amendments. Any chance of a deal is up to anyone's guess. If she don't get it. Well a general election is on the cards. MOST people voted for brexit not a political mess for sure. Hope it makes us stronger on the long run.''

David Cameron got nothing
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Today 22:19Price: 55.54
eviking1,741 posts
RE: The EU is a busted flush

The way you see it reminds of the past. No guns this time just one economic power of scale.
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Today 22:19Price: 55.54
avocet1231,185 posts
RE: The EU is a busted flush

Good for Germany. Could have been us, but the Germans are clearly a lot smarter.
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Today 22:15Price: 55.54
fleccy2,656 posts
RE: The EU is a busted flush

I've given my reasons, for wanting to leave the EU, on other occasions, but thought i'd mention them again:

1) The Euro damages the PIGS and helps Germany immeasurably.

2) Because of the currency union, without a debt union, Germany goes from strength to strength, while the likes of Greece decline.

3) As a result of 1) German exports are transacted within a devalued currency, so the global economic mechanisms, that would normally restrict German exports due to currency rise, don't apply.

4) Because the EURO countries aren't in a debt union, it cost Greece 4.27% to borrow over 10 years, against 0.201% for Germany, in terms of current yield.

5) Euro countres, that are struggling, can't devalue to make themselves competitive, so they are painted into a corner.

For all the above reasons, the EU is doomed, unless Germany agrees to a debt union, on top of the current currency union, like they're going to do that. Germany are often quoted as the EU's paymaster, i would suggest they are the biggest beneficiary of the Euro.
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