BREXIT positives and negatives

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EU chief Ursula von der Leyen has called for cuts to electricity use across the bloc and windfall taxes on energy firms to tackle high prices.

She told the European Parliament that gas and electricity prices had hit all-time highs after Russia's invasion of Ukraine.

She called for electricity consumption to be cut at peak hours by at least 5%.

But plans for a cap on the price of natural gas, a key Russian export to the EU, were put on hold.

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The Truss Government does a mini budget and the pound has tanked.

 

Now 1.10625 to the USD.

 

Even after Brexit the markets had faith in the UK Government, now it seems the markets don`t.

 

The EU is in no better a place.

 

Italy 10 year yield now at 4,283.

 

If this continues Italy and the UK will not be able to borrow on the open markets.

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11 hours ago, RenegadeFurther said:

The Truss Government does a mini budget and the pound has tanked.

 

Now 1.10625 to the USD.

 

Even after Brexit the markets had faith in the UK Government, now it seems the markets don`t.

 

The EU is in no better a place.

 

Italy 10 year yield now at 4,283.

 

If this continues Italy and the UK will not be able to borrow on the open markets.

 

I can remember getting €1,40 to the pound before the Brexit vote.  Now its just going from bad to worse. 

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30 minutes ago, alexunterwegs said:

 

I can remember getting €1,40 to the pound before the Brexit vote.  Now its just going from bad to worse. 

37 year low, so even worse that directly after the brexit vote. On my first business trip to Germany the pond was worth over 6 DM!

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49 minutes ago, kaffeemitmilch said:

Try 1.03 for a bit, and now at atbout 1.05.

 

Look at the Euro

 

1USD = 0.966 Euro

 

10 year Italian bond 4.418 (anything over 4 is an issue for the ECB)

 

Wonder what will crumble first the Euro or the Pound.

 

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28 minutes ago, RenegadeFurther said:

10 year Italian bond 4.418 (anything over 4 is an issue for the ECB)

 

And the UK at 4.2 yesterday.

I don't see that the UK is doing any better outside the EU than it would have done inside, and would argue that brexit was structurally damaging to both the UK and the EU and without it both sides would be in a stronger position.

 

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25 minutes ago, pappnase said:

And the UK at 4.2 yesterday.

I don't see that the UK is doing any better outside the EU than it would have done inside, and would argue that brexit was structurally damaging to both the UK and the EU and without it both sides would be in a stronger position.

 

 

The UK can control its currency, Italy can`t.

 

How much inflation will he Germans (and the norther European countries)  take to save Italy.

 

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18 minutes ago, RenegadeFurther said:

The UK can control its currency, Italy can`t.

 

That was true before brexit too, so again how does brexit help?

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Italy will have to cut public spending to balance the books and maybe raise taxes

 

Once they have done that the IMF/EU will probably loan them money in the short term

 

If the Italians do not do this, the Euro will suffer, but the most pain will come to Italy as they will not be able to borrow anymore.

 

Apparently the letters are going in to get rid of Lizz at the moment ...., could be a very short term for Lizz

 

Brexit has made things much worse for the Brits than the Europeans according to all the data I have seen

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37 minutes ago, pappnase said:

That was true before brexit too, so again how does brexit help?

 

How much do you think it will cost the EU to bail out the PIGS?

 

Who will pay?

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10 minutes ago, RenegadeFurther said:

Who will pay?

 

All of us, those in the UK and in the EU. 

The structural instability in the EU caused by brexit will impact the UK and the EU. We will all be worse off.

If the UK hadn't left, then the the damage would both be smaller and spread amongst more countries, the whole of Europe (including the UK) would be better of if they hadn't left.


At the end of the day, the disaster capitalists in the UK will profit, the man in the street will suffer. There is nothing good about brexit unless you are already very wealthy,

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5 minutes ago, pappnase said:

 

The structural instability in the EU caused by brexit will impact the UK and the EU. We will all be worse off.

If the UK hadn't left, then the the damage would both be smaller and spread amongst more countries, the whole of Europe (including the UK) would be better of if they hadn't left.


At the end of the day, the disaster capitalists in the UK will profit, the man in the street will suffer. There is nothing good about brexit unless you are already very wealthy,

 

Italys instability has nothing to do with Brexit.

 

It was there before Brexit and it is there after Brexit.

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17 minutes ago, RenegadeFurther said:

 

Italys instability has nothing to do with Brexit.

 

It was there before Brexit and it is there after Brexit.

 

If "Italys instability has nothing to do with Brexit."

 

Why are you posting this on the BREXIT thread ???, why not put it in a thread thats related to Italia's problems or financial

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1 hour ago, yesterday said:

 

Why are you posting this on the BREXIT thread ???, why not put it in a thread thats related to Italia's problems or financial

 

It is about Brexit.

 

The UK leaving the EU means the UK will not have to pay for the PIGS, while the rest of the EU will have to pay.

 

Wasn`t so difficult to understand, now was it?

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Brexit will be the scapegoat of all European ills.

 

Bailing out the PIGS is not something the European club is going to enjoy. Maybe they will get Turkey on board after all.

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