Uk has voted to leave the EU

[Majorjim!]

I am in genuine shock about this.. I voted in and expected my countrymen to see sense and vote accordingly. I actually feel ashamed today..

[Clockwork_werewolf]

I voted in as well.

Some people may have believed the Brexit camp would spend that 350 million on the NHS, if they did they are idiots.

[Virtualgenius]

What are the ramifications of this

 

[Clockwork_werewolf]

The EU has lost 20% of it's funding, so are right now going into talks about reorganisation.

It takes two years to leave but if we finish the process it will make the EU the second largest economy not the first.

Closer to home the pound has dropped but a huge amount to the value it had in 1985. The prime minister will step down and probably be replace by someone even more right wing.

We could see EU economic collapse followed by a world economic collapse, again.

Edited June 24, 2016 by Clockwork_werewolf

[Majorjim!]

This will come into force in two years time so only time will tell. I am no expert and I just hope it won't lead to a recession and hit the poorer folks in the UK.

[Tex_NL]

9 minutes ago, Clockwork_werewolf said:

the EU has lost 20% of it's funding, so are right now going into talks about reorganisation.

Wrong. The UK contributed about 10% of the total, not 20. And those reorganisation talks were already planned regardless of the outcome.

And even if the majority voted remain, the message is clear. There is something VERY wrong deep inside the EU.

P.S.
I predict this thread will be locked soon.
2.2 b Discussions of a political, ideological or religious nature;

And NO, this is NOT 'backseat' moderation. It's just a prediction.

Edited June 24, 2016 by Tex_NL

[Clockwork_werewolf]

2 minutes ago, Majorjim said:

This will come into force in two years time so only time will tell. I am no expert and I just hope it won't lead to a recession and hit the poorer folks in the UK.

It is very hard to tell, but it is likely too. " the Bank of England stands ready to provide more than £250bn of additional funds through its normal facilities."

Due to the drop in the pound (this quote was what stopped the fall from going further) People will be able to buy less and food will be more expensive "Britain...imports 40% of the total food consumed and the proportion is rising".

You might think house prices would fall but with the stocks in house building firms falling this will likley stabilise the house prices meaning the poor will still be renting BUT as the landlords will have lost value on savings they will push up renting prices again.

The bailout by the bank of England which might be needed will be pushed on the tax payer, which with the present tax breaks for the rich will cause more cuts in services.

Farrage has already gone back on the idea that the "extra" money will be spent on the NHS.

[Majorjim!]

Just now, Clockwork_werewolf said:

Due to the drop in the pound

I read this is just due to the traders betting on an IN majority. It will likely stabilize quite quickly. I hope house prices drop though! I would like to finally start that adventure.

Just now, Tex_NL said:

I predict this thread will be locked soon.

Let's keep it civil then and have a good, level headed discussion.

[Clockwork_werewolf]

4 minutes ago, Tex_NL said:

Wrong. The UK contributed about 10% of the total, not 20. And those reorganisation talks were already planned regardless of the outcome.

And even if the majority voted remain, the message is clear. There is something VERY wrong deep inside the EU.

P.S.
I predict this thread will be locked soon.
2.2 b Discussions of a political, ideological or religious nature;

And NO, this is NOT 'backseat' moderation. It's just a prediction.

It might be 10% after the rebate, I'm struggling to find a source that will give me the numbers in percentage there than total value.

"A crisis meeting will be held this morning in Brussels between Donald Tusk, the president of the European Council, Jean-Claude Juncker, the president of the Commission, Martin Schulz, the president of the Parliament, and Mark Rutte, the Dutch Prime Minister who chairs the rotating presidency." That sounds like it is important even if it was scheduled either way.

I expect this thread to be locked as well.

[Bill Phil]

Darn it, Britain... Whatever...

They weren't using Euros at all, I think. Also, they aren't on the mainland, but this can have major ramifications.

[diomedea]

29 minutes ago, Clockwork_werewolf said:

It might be 10% after the rebate, I'm struggling to find a source that will give me the numbers in percentage there than total value.

Could be this two together help:

http://www.europarl.europa.eu/news/en/news-room/20141202IFG82334/EU-budget-explained-expenditure-and-contribution-by-member-state

http://www.consilium.europa.eu/en/press/press-releases/2015/11/24-2016-budget-approved/

From the data published above, UK net contribution = 11341.6 M€, against  total EU payments of 143890 M€ (7.88%); EU spending in UK = 6984.7 M€, against a total EU spending of 128564.9 M€ (5.43%); UK is then a net contributor to the EU for 4356.9 M€ (3.03% againt the EU payments).

[Laie]

1 hour ago, Virtualgenius said:

What are the ramifications of this

Ask again next year, or in ten

Funding and organisation-wise it will be sorted out; that's not the most important issue and possibly not even the most immediate. Now somone has started, others may follow suit; there is a small but real possibility that the whole EU may come apart.

The EU is often seen as a force of nature (of sorts), something you (can | must) cope with but that's ultimately bigger than all of us. "Regulation without representation" is a very convenient narrative for national politicians: decide unpopular measures on the EU level, then tell the people at home that your hands are tied. Or more generally, blame the EU for all the ailments of the modern world. Of course, this doesn't endear the EU to anyone.

If nothing else, the referendum has made it clear that the people have agency, that membership in the EU isn't an act of god. As a result I expect a new kind of discussion on why we do this and what we expect of it. Or maybe "discussion", a tide of propaganda and talking points, is more likely. What will come of it, I cannot guess.

Edited June 24, 2016 by Laie

[Kerbart]

47 minutes ago, Clockwork_werewolf said:

It might be 10% after the rebate, I'm struggling to find a source that will give me the numbers in percentage there than total value.

Here's a source: http://ec.europa.eu/budget/figures/interactive/index_en.cfm

It's listing (for 2014, most recent data listed), a total contribution of €11.3x10⁹ out of a total EU budget income of €143.9x10⁹ so that's about 7.9%

Of course the impact on the budget will be larger than that, as the UK is bringing more money into the EU than it gets.

[LordFerret]

16 minutes ago, diomedea said:

Could be this two together help:

http://www.europarl.europa.eu/news/en/news-room/20141202IFG82334/EU-budget-explained-expenditure-and-contribution-by-member-state

http://www.consilium.europa.eu/en/press/press-releases/2015/11/24-2016-budget-approved/

From the data published above, UK net contribution = 11341.6 M€, against  total EU payments of 143890 M€ (7.88%); EU spending in UK = 6984.7 M€, against a total EU spending of 128564.9 M€ (5.43%); UK is then a net contributor to the EU for 4356.9 M€ (3.03% againt the EU payments).

diomedea, you should be locking this thread, not contributing to it.

 

@Maximus97 @sal_vager

Edited June 24, 2016 by LordFerret

[Superfluous J]

When I went to the Tower of London, the guide asked for a series of shows of hands.

"Raise your hand if you're visiting here from the Americas."
"How about those of you from Europe?"
"Anybody here from the United Kingdom?"
"And finally, how many of you know the United Kingdom is part of Europe?"

This has nothing to do with the topic at hand (but isn't political I promise!) but I found it amusing then and am reminded of it now.
 

[Just Jim]

Wow...  I just woke up and read the news.  Honestly, I didn't think the Brexiters had the votes.  Guess I was wrong.

I'm American, so I'm not sure how or even if it will effect me much.
But I love political history, so I will be watching this historic moment play out with fascination.

I hope it all works out for the best.  Only time will tell... 

 

[diomedea]

12 minutes ago, LordFerret said:

diomedea, you should be locking this thread, not contributing to it.

Seems to me some misconception about the forum rules exist: discussion of a political nature requires a political argument. There was none such argument up to now, but sure someone is monitoring that none will come.

[p1t1o]

2 hours ago, Virtualgenius said:

What are the ramifications of this

The problem is, nobody really can say, other than very broad guesses. I think that was a problem with the referendum in the first place, neither side had much hard data about what a brexit would mean. And why would they? Its an incredibly complicated thing. The whole thing happened too fast, and was triggered by very wrong reasons.

It could turn out to be a good thing, but *we dont' know*.

No choice really but get behind the decision now, see if some good cant be done. At least its an opportunity to shake things up?

[sal_vager]

Sorry guys, I hate to be the bad guy but I have to close this, as currently we do not permit political discussion due to its tendency to result in argument.

This is one of those times the rules suck, and I'd like to call this World News, but that's the rule as things stand.

Quote

2.2 Forbidden content

Messages which contain, discuss or link to the following are explicitly forbidden:

 

          Discussions of a political, ideological or religious nature;