[searchingheaven]

Originally Posted by rejoycjohn

Actually Wales voted to leave.It was Scotland, Northern Ireland and London who voted strongly to remain. However make no mistake,Britain has its work cut out now to negotiate what would be its position in Europe and EU.

Yes, my bad. Scotland voted remain. I had seen the pre-10 pm numbers.

Originally Posted by WindRide

Not at all surprised by the outcome, considering how racist UK generally is.
BREXIT was all about saying NO to foreigners and keeping "Britain for Brits". Racism unfortunately meddled with sensible thinking.

Agree with you here. The people who who voted leave have no idea of the uphill task they have at hand. There are four major areas of concern.

When every major central bank in the world have brought in extra staff and have prepared their emergency liquidity facilities you are going to have a bad day. I expect the pound to hit dollar equality tomorrow, its going to be the ERM disaster on steroids.

[embee]

If you are following the BREXIT News all over... here is a good one!

IF YOU WEIGH YOURSELF IN POUNDS;
TODAY YOU'VE LOST A LOT OF WEIGHT!




An emotional Cameron, who led the "Remain" campaign but lost the gamble he took when he called the referendum three years ago, said he would resign as prime minister by October.

http://www.ndtv.com/world-news/eu-vo...-lateststories

[extreme_torque]

Originally Posted by WindRide

Not at all surprised by the outcome, considering how racist UK generally is.
BREXIT was all about saying NO to foreigners and keeping "Britain for Brits". Racism unfortunately meddled with sensible thinking.

I am sorry but this is a very easy explanation. I am not sure if you have even been to London but when I was there, I could see what uncontrolled immigration had done to the city. I can see the same thing happening in Melbourne, my home currently. Want proof and trust me these are just the tip of the proverbial iceberg.
http://www.sbs.com.au/yourlanguage/p...ning-visa-scam

http://www.abc.net.au/7.30/content/2015/s4287814.htm

http://www.smh.com.au/national/educa...27-gkkagc.html

http://www.smh.com.au/national/educa...21-glt0av.html

[shortbread]

The exit will have massive benefits for JLR and in turn Tata Motors.......

Firstly, the immediate fall in the pound will help JLR's exports which was handicapped by the German advantage of having a weaker Euro. Exports to the US and Asia will see better margins which will definitely increase profits.

Secondly, a tariff free deal regarding the Auto industry will be reached between the UK and EU. The German and French auto industry will collapse without a tariff free access to the UK market, a large part of actual German/French car manufacturing is shipped to the UK. Also, BMW (Rolls Royce, Mini), VW (Bentley), GM (Opel, Vauxhall) have massive investments in the UK. They have huge influence over Merkel and she and Germany dictates the EU.

Third, JLR will not be hampered by any EU knee jerk pollution/evironment regulations. Power tarrifs could decrease benefiting local manufacturing.

JLR will enjoy the benefits of the EU but not be weighed down by the regulations.

[searchingheaven]

Markets have opened here in the US and are going absolutely crazy. DOW down by 400.

[WindRide]

Mod note: Post deleted.

Rule#13 - Sensitive discussions involving politics or religion are to be avoided, due to their highly subjective nature, which can lead to volatile and inconclusive debates. The only factor that unites BHPians is our love for cars, independent of religious or political inclinations.

[Chetan_Rao]

I won't try to debate the specifics - there are far too many and I hope the right people are put in charge to address those - but it's really amusing and simultaneously humbling that the entire situation is based around a very basic human tendency, resistance to inevitable change.

From an automotive/industrial standpoint, I can't see why everyone thinks the rest of Europe will fall over themselves to cut favorable trade deals with the UK. Sure the UK is an important export market for a lot of countries, but this also applies the other way. Can one imagine the flux in the UK automotive market if it doesn't have the same access to German & French imports? Extend the argument to industry and the picture stays the same, the UK has lost a lot of its traditional industrial manufacturing base over the years, and they're as dependent on their imports as others are on UK buying stuff they make.

Wasn't the EU began as an economic/trade cooperation bloc? I still don't understand why they felt the need to turn in into a governing body. They would've probably been better off sticking to the original agenda.

[searchingheaven]

Originally Posted by WindRide

Make no mistake, BREXIT is only the begining. More Europeans (France, Austria, etc) will follow the British example.

No they won't. Or rather, they cannot afford to. Britain is about to get a reality check in coming days. The EU will make Britain pay very dearly.

Originally Posted by Chetan_Rao

From an automotive/industrial standpoint, I can't see why everyone thinks the rest of Europe will fall over themselves to cut favorable trade deals with the UK. Sure the UK is an important export market for a lot of countries, but this also applies the other way. Can one imagine the flux in the UK automotive market if it doesn't have the same access to German & French imports? .

My observations/opinion on this is summarized below:

1. London is the financial center of the EU because the UK is both in the EU and is relatively friendly to financial services. Without the UK having a regulatory treaty with the EU (which they can't without being part of the EU) financial services will be forced to move to the mainland. Even prior the vote there was work underway on this, the first movements have already happened, with Morgan Stanley moving 2000 jobs.
   
   
2. When the UK leaves it has no trade treaties with any other country in the world. This means all British goods will incur new or higher tariffs in all trading partner countries, British goods become more expensive when compared to comparable goods produced elsewhere. There is not a magic button here, it typically takes decades to either create new treaties or join an existing one.
   
   
3. If the UK decides it wants access to the single market it also needs to adopt single market rules, effectively accepting all EU regulation but without having any voice in that regulation. That's assuming France & Germany don't just block UK access to the single market out of spite.
   
   
4. The UK no longer has visa free access to EU states and the same is true of the EU to the UK. There are enormous numbers of British ex-pats who live on the continent and enormous numbers of non-UK EU citizens who live in the UK. Even if the UK & EU manage to push through a very hasty set of reforms allowing those who have lived there for n years to remain we are still talking about pretty significant labor displacement & disruption.

[Chetan_Rao]

@searchingheaven: All valid points and it's obvious there will be far-reaching consequences for UK, EU and the world as a whole.

This discussion will quickly move to non-automotive topics, so better to have a thread in 'Shifting Gears' section maybe to discuss the fallout.

Mods?

[extreme_torque]

Originally Posted by WindRide

Brits (and most Europeans) are extremely concerned about the large scale inflow of foreigners belonging to a particular community (pretty self-evident unless you've been living under a rock), who immigrate and refuse to integrate. Even the EU powerhouse Germany will not be able to hold out for ever the white German's concerns.

At the heart of this are questions of Race, Nationalism and the native Way of Life.

So am I and its exactly those kinds of thankless migrants who do not even make an effort to integrate. The Native's made that country and very graciously shared their wealth with the migrants and now you want to take away their way of life. Way of life and not the money was the reason I moved to a white country.

[sgiitk]

Brexit was an alliance of the Tory right and the left labour. The appeal was totally emotional. The canny Scots want out of Britain and the N Irish want to join them. Interesting idea of a border check at the Scottish Border.

The campaigners for exit in NI were the Ulster Unionists and now Sinn Fein is renewing calls for a union with Ireland. Also, as a wag said, 'London may also want to opt out'. There is even talk of the Italians wanting out. They are the recipients of EU largess and cannot afford to. I personally think the EU will boot out GB, and then get on. There are 800 Indian firms with UK offices, and they will have to think. Costs increase since thy have two animals to handle, and maybe an additional office.

It seems that he hullabaloo was about the East Europeans and also the fear of West Asia immigrants. Now Indian sub-continent even looks good to them. Definitely Indian docs, as opposed to the non-English speakers from Eastern Europe.

[Samurai]

After voting fot Brexit mainly on immigration fears, now British are discovering what it economically means to them.

The British are frantically Googling what the E.U. is, hours after voting to leave it.

[prashanthyr]

Originally Posted by Samurai

After voting fot Brexit mainly on immigration fears, now British are discovering what it economically means to them.

The British are frantically Googling what the E.U. is, hours after voting to leave it.

Not surprised in the least.

A conversation I overheard while on a train into London Victoria yesterday morning after the results were announced between 2 young professionals who work in a popular health gym (evidenced by the T-Shirts they were wearing)

Professional 1 to Professional 2 - Did you hear from either of the Lithuanians in our gym?
P2 to P1 - Why?
P1 - With the referendum results in, they may be asked to leave as early as tonight - am worried for them

I was


That said, there seems to be a bit of buyer's remorse kicking in already. There's a petition for the UK govt to consider a second referendum (any petition on the govt website with over 100K signatures means parliament has to discuss it) and a number of folk who voted leave are now starting to say - oh I didn't think my vote mattered.

I am hoping sense will prevail on both sides - UK and EU - and the common folk wont be put through a roller coaster of a ride for decades.

[Chetan_Rao]

Typical political idiocy.

The leave side preyed on the emotional 'Britain for Brits and our way of life' argument, which the stay side should've ideally countered with hard facts rather than generic, condescending doom & gloom fear-mongering, but most politicians seem to think the general populace is too dumb to handle facts. The fear-mongering unwittingly played into the leave narrative, resulting in people voting without completely understanding what they're doing, and making a global mess consequently.

If everybody made a well-informed choice and leave still prevailed, fair enough, because the people would've knowingly chosen what happens to them. This ended up more like a frenzied mob-lynching, the victim being the nation and generations that don't want anything to do with the result, ironically including some (a lot?) who actually voted for the result.

I just hope the same doesn't play out elsewhere, esp. US where Trump is playing by the same exclusionist, divisive, hate-mongering playbook.

[embee]

Tweet about BREXIT regarding voting age groups.


Source: Twitter