Monday, 27 June 2016

Exit Signs.

We now have Regrexit, Brexit + any other made up word that includes 'exit' in our dictionaries as the fallout from the EU vote hots up.  Stock markets appear to have been quite shaken by the result, and even today the pound has gone to a 31 year low against the dollar.  I'm no economist, but that doesn't sound very good to me.

Of more interest to the amateur observer, is the political shenanigans gathering pace.  It looks like we are going to get Boris as PM, albeit until the next election, but any opposition is getting watered down as the shadow cabinet resign or are sacked as Jeremy Corbyn comes under pressure to resign.  He has huge support amongst the unions and ordinary party members so this will amount to nothing in the short term, but probably add another chink to his armour.

There have been some loud mutterings about a second referendum, notably with a petition that was ironically setup by a leave supporter trying to hedge his bets that they would lose by a small margin and try and trigger another vote.  This petition is now endorsed by about 3 million remain supporters much to his annoyance.  Talk of another vote seems to be way out of line - what will they say if it's close again?  'Best of 3!'

However, the biggest debates/arguments/fights are going to be taking place with our erstwhile European friends as we try and strike deals and agreements to replace the existing.  Boris has already indicated that we don't need to invoke 'Article 50' that starts the 2 year exit talks until we have agreements.  This looks to be a bit of shrewd manoeuvring on his part, but not very subtle.  I can't see that going down well across the Channel, but I guess we'll see a lot more of this sort of thing.


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