We're out of the EU!

Ginny are these rises across the board or just for us Brits ?

If its just us , you will have a good case to appeal against them,

We have not even told the EU we are leaving yet never had a meeting to discuss terms even,

So we are still a full member of the EU with all its benefits,

If this is not the case get in touch with our new Brexit Cabinet MP.

I am sure he will want to bring it to the attention of the EU.

Pete, it's mostly because the Pound has devalued against the Euro and all other major currencies. Everything you buy from Europe will now cost around 10 to 15% more than it did a month ago just because of the change in the exchange rate. As Ginny notes, if you're importing stuff from Europe - timber, chipboard and the like - you're inevitably going to be out of pocket. In most cases, there isn't likely to be a UK equivalent in terms of quality and price - why would there need to be when we were part of the free market?

That's not the only worry - with expectations of a weaker economy and the uncertainties surrounding the future, British companies will be less likely to invest which will further weaken things - a self-fulfilling prophecy, really. The devaluation of the pound may mean that foreign companies now look to acquire British ones (as with the sale of ARM to Japanese firm Softbank today), but there is no guarantee that foreign owners will invest here in the way that Softbank apparently plan to do.

We are also now a country that runs on a service economy and banking. We don't produce stuff like we used to once and put all our eggs on one financial basket. I have to buy foreign machinery as there is no British equivalent. Even companies that sell stuff under a British banner have it made somewhere else and just re-badge it. We also gave our land over to farming and don't produce timber and derivative products like we should. Most of the tree growing was of poor trees of totally the wrong type because it was a tax dodge for the rich and famous. The timber is now only good for firewood and costs more to harvest than it is worth.

People say that leaving the EU will make us a great nation again but it was the Tories that destroyed most of our manufacturing base in the first place and now they have overseen a coup to get us out while they happily sit back and play the markets. They don't care if the exchange rate goes up or down as they will still make money either way on the stock market. I'm not confident that leaving the EU will turn out to be any better than what we had but hey ho, we are out and that's democracy for you. Time to move on methinks.

Quoted from ginnywings

We are also now a country that runs on a service economy and banking. We don't produce stuff like we used to once and put all our eggs on one financial basket. I have to buy foreign machinery as there is no British equivalent. Even companies that sell stuff under a British banner have it made somewhere else and just re-badge it. We also gave our land over to farming and don't produce timber and derivative products like we should. Most of the tree growing was of poor trees of totally the wrong type because it was a tax dodge for the rich and famous. The timber is now only good for firewood and costs more to harvest than it is worth.

People say that leaving the EU will make us a great nation again but it was the Tories that destroyed most of our manufacturing base in the first place and now they have overseen a coup to get us out while they happily sit back and play the markets. They don't care if the exchange rate goes up or down as they will still make money either way on the stock market. I'm not confident that leaving the EU will turn out to be any better than what we had but hey ho, we are out and that's democracy for you. Time to move on methinks.

Best post in all 30 pages for me. Spot on fella.

Quoted from Maringer

Pete, it's mostly because the Pound has devalued against the Euro and all other major currencies. Everything you buy from Europe will now cost around 10 to 15% more than it did a month ago just because of the change in the exchange rate. As Ginny notes, if you're importing stuff from Europe - timber, chipboard and the like - you're inevitably going to be out of pocket. In most cases, there isn't likely to be a UK equivalent in terms of quality and price - why would there need to be when we were part of the free market?

That's not the only worry - with expectations of a weaker economy and the uncertainties surrounding the future, British companies will be less likely to invest which will further weaken things - a self-fulfilling prophecy, really. The devaluation of the pound may mean that foreign companies now look to acquire British ones (as with the sale of ARM to Japanese firm Softbank today), but there is no guarantee that foreign owners will invest here in the way that Softbank apparently plan to do.

The pound has been falling for 100 years!
In July 2014 the £1 was worth $1.70
In 2007 -the £1 was worth $2.10
In the 1950s £1 was worth $4

The economy is once again contracting, nothing to do with brexit.

Exchange rates tend to go up and down for various different reasons, but the reason for the recent big drop in the pound is clearly down to the referendum result. With the uncertainty this has caused, it seems very unlikely to me that any recover in this value will occur. We're already a lot lower than before 2008 because of our economy's reliance on the finance sector, so it wouldn't surprise me to see further falls, especially if we enter recession again as forecast by many.

I can't see the valuation going back up unless the Euro zone falls to pieces and I reckon that isn't likely for the immediate future. The ECB will do all they can to support it. Of course, if the Eurozone enters recession itself, it will drag us down with them.

Things looking pretty bleak from my perspective. I reckon all the financial analysts and economists have called this one right.

The recession has been on the cards for a few years now the way China and the USA are heading, our own economy has been slowing for 2 years as the Uk deficit shows and we have had a decline in foreign investment during this period  but this has absolutely nothing to do with the referendum, but no doubt when, not if we hit this recession people will want to blame brexit.

Quoted from Maringer

Exchange rates tend to go up and down for various different reasons, but the reason for the recent big drop in the pound is clearly down to the referendum result. With the uncertainty this has caused, it seems very unlikely to me that any recover in this value will occur. We're already a lot lower than before 2008 because of our economy's reliance on the finance sector, so it wouldn't surprise me to see further falls, especially if we enter recession again as forecast by many.

I can't see the valuation going back up unless the Euro zone falls to pieces and I reckon that isn't likely for the immediate future. The ECB will do all they can to support it. Of course, if the Eurozone enters recession itself, it will drag us down with them.

Things looking pretty bleak from my perspective. I reckon all the financial analysts and economists have called this one right.

ECB, administers monetary policy of the Eurozone, how did it help Greece. Did you watch Mark Blyth: The AthensLive Interview video I posted before.

This is just a short clip for a taster.

I've not had the chance to watch your video but I'm guessing it's about the ECB interventions in Greece - I know that the ECB, as part of the Troika, royally shafted the Greeks. Completely anti-democratic and pretty disgusting.

However, this was back in the era before they woke up and realised they needed to start QE to shore up the rest of the Eurozone. I think their general policy will now be more 'sensible' and akin to what we've seen in the UK and US, though I doubt they will help out the PIIGS countries at all.

Whether QE at currently operated is a good or a bad thing is a different matter, but it certainly shores up the economy in the shorter term.

Quoted from Maringer

I've not had the chance to watch your video but I'm guessing it's about the ECB interventions in Greece - I know that the ECB, as part of the Troika, royally shafted the Greeks. Completely anti-democratic and pretty disgusting.

However, this was back in the era before they woke up and realised they needed to start QE to shore up the rest of the Eurozone. I think their general policy will now be more 'sensible' and akin to what we've seen in the UK and US, though I doubt they will help out the PIIGS countries at all.

Whether QE at currently operated is a good or a bad thing is a different matter, but it certainly shores up the economy in the shorter term.

They shafted the Greeks for a reason and Mark Blyth explains it very well. I would like your opinion of the original athens live interview, I'm a novice when it come to finance but how he puts it across confirms to me that getting out of the EU was the right move in the long term. This is someone who grew up on British welfare and through hard work, made it to the top, he sees the big picture and doesn't mince his words which is very refreshing.