UK pound falls to fresh 2.5-year low against Singdollar as 'Brexit' fears persist

[specuvestor]

The market is too sanguine about Brexit. If article 50 is actually activated (which some are already saying it should be voted by the house than enacted by the PM) the impact on UK and EU might be more far reaching than they bargained for. The idea that UK can continue to enjoy same status, politically or economically, is delusional. Membership will have its privileges.

But I think Theresa May idea of getting the pro-Brexit guys to do the Brexit work make loads of sense. They should get Farage in as well.

[soros]

If you are entering into any negotiations, its important you don't give the other side any indication of your own bottom line.

The EU countries export far more to UK than UK exports to EU countries.

So lets see how far the EU side want to cut off their own exports and inflict damage on their own member countries ?

[specuvestor]

I think this article gives a good summary as I understand it, rather than just headlines. The article however failed to mention the Financial sector ie service flow impact on the Goods & Service transaction, focusing more on Goods flow though it mentioned 80% of UK GDP is service. The collateral damage if London loses its shine as the financial centre is not limited to EU transaction. Look no further than Hong Kong vs Shanghai. It won't happen overnight, but the grind downwards will be felt.

https://fullfact.org/europe/uk-eu-trade/

vs these kind of headlines: "EU exports are a mere 12% of British economy: Trade figures show focus on Europe has steadily dropped in past five years"

http://www.dailymail.co.uk/news/article-...years.html

[specuvestor]

The market is too sanguine about Brexit. If article 50 is actually activated (which some are already saying it should be voted by the house than enacted by the PM) the impact on UK and EU might be more far reaching than they bargained for. The idea that UK can continue to enjoy same status, politically or economically, is delusional. Membership will have its privileges.

But I think Theresa May idea of getting the pro-Brexit guys to do the Brexit work make loads of sense. They should get Farage in as well.

The march to parity with Euro continues after the GBP flash crash

"Pound’s Precipitous Slide Risks Doing U.K. More Harm Than Good
Sterling tumble has helped cushion economy from Brexit fallout
    Accelerated decline, flash crash may undermine that role
  By Lukanyo Mnyanda

  (Bloomberg) -- The pound risks turning from prop to pain for the U.K. economy
  as Brexit negotiations near.
  Sterling fell for a third day on Monday, extending last week’s biggest tumble
  since the vote to leave the European Union in June. The currency’s declines are
  mounting amid a growing realization that the U.K. government’s approach to
  Brexit may mean forgoing access to the single market. While the pound’s
  weakness has helped cushion the economy in the immediate aftermath of the
  referendum, the latest slide may carry more costs than advantages."

-snip-

[specuvestor]

I'm not saying they should have another referendum. It is not going to be constructive

Parliamentary system is a representative republic system. Referendum has no binding power though it is a direct democracy to listen to the ground. That's why the government ie the Prime Minister, which is the leader of the biggest party, has to invoke Article 50 before the exit becomes binding. But Cameron has decided to side-step it by resigning. Nonetheless end of the day parliament has to sanction the vote for Article 50 to be invoked.

That's why I am saying that someone in Parliament has to call for a vote in the house to overturn it and it would be proper order since it is a republic, but nobody wants to put their political career at risk after the referendum, to be seen as not complying to the wish of the 2% winner, even if that marginalizes the country.

(Bloomberg) -- 
Prime Minister Theresa May has accepted that Parliament should be allowed to vote on her plan for taking Britain out of the European Union, but asked lawmakers to do it in a way that gives her space to negotiate.
The decision seemed to calm investors after they dumped the pound on concern May was taking a gung-ho approach to the negotiations. The currency took a beating after May signaled her intention to put immigration curbs before the City of London’s interests in pulling Britain out of the European Union.
Parliament will debate on Wednesday a motion from the opposition Labour Party calling for a “full and transparent debate on the government’s plan for leaving the EU” and for Parliament to be able to “properly scrutinize that plan” before she begins formal talks. The request is supported by some lawmakers from May’s own Conservative Party.
In response, May late on Tuesday tabled an amendment that effectively accepted the motion, adding that there shouldn’t be an attempt to block Brexit or “undermine the negotiating position of the government.”

[CityFarmer]

Another risky venture, comparable to ex-PM Cameron referendum? It might bring more "populist view" into the issue, rather than practical ones, IMO.  The world is full of uncertainties, OMG...

[specuvestor]

(Bloomberg) --
The U.K. must hold a vote in Parliament before starting the two-year countdown to Brexit, a panel of London judges decided, likely setting up a constitutional confrontation at the country’s Supreme Court next month.

“If notice is given under Article 50, it will inevitably have the effect of changing domestic law,” Judge John Thomas said Thursday, delivering a decision that is a setback for Prime Minister Theresa May’s plan to unilaterally start the process by the end of March by invoking Article 50 of the Lisbon Treaty.

--snip--

As posted, I would think parliamentary approval is in proper order for a republic.

[specuvestor]

^^ Supreme Court just ruled they need a Parliamentary vote... let the debate begins and the sensible carry the day for the people and nation, even if it cost them their political careers

[BlueKelah]

This just means Brexit will be delayed until their Parliament can get their game together and agree on a final bill. This will create more uncertainty for businesses in UK.

Supreme Court Rules Brexit Trigger Needs Parliamentary Vote

[By the time they debate the final settlement, with the two-year deadline looming, the choice they will face will be between accepting the terms or allowing Britain to fall out of the bloc without a deal.]

[YMPL]

Uncertainty will continue to be the mantra of media.

What to expect in UK markets when May pulls Brexit trigger

By:
Bloomberg
14/03/17, 07:38 am
LONDON (March 14): The trigger of Article 50 is the event traders have been waiting for since the UK voted to leave the European Union. Yet as Prime Minister Theresa May approaches her end-March deadline for launching Brexit, there is no consensus on what it means for markets.
http://www.theedgemarkets.com.sg/article...it-trigger