Can we talk about the Brexit vote??

[redsquirrel]

Putin is super happy, I know that much.  Anything that makes the EU weaker makes it easier for him to chip away at Europe.

[Guest]

And... anyone else also always get the urge to visit a place when the currency drops? I was like, ooh, dh, let's do a quickie London trip. :001_rolleyes: (that eyeroll is for myself)

Yes! I'm ashamed to admit that I was just thinking of looking into a trip across the pond!

[ChocolateReignRemix]

Looks like it's going to be a miserable day for the markets. I heard that trading on the Nikkei was suspended.

 

(FWIW, I think it's typical market hysteria and this is by no means the end of the world. But it should be a wild ride in the short term.)

 

Bucking Bronco markets for the next couple of weeks.  Should see a big run up in gold while the S&P gets filleted.  I expect much of the loss to recover by the end of the summer/early fall as the Fed won't be raising rates now which will quiet some fears.  That is assuming we don't get a recession tremor out of this.

 

[sparrow]

And... anyone else also always get the urge to visit a place when the currency drops? I was like, ooh, dh, let's do a quickie London trip.  :001_rolleyes: (that eyeroll is for myself)

 

Almost word for word.

 

I'm ashamed of myself!  :blushing:

[TrixieB]

Or alternatively, buy into an index fund now, when the market is in a reflexive, computer-controlled crash.  It will likely be the cheapest day to buy in for the next five years.

 

Yeah, this is what I told dh I want to do... he is pooh-poohing the idea.  It's retirement $ and I've got many years to go till retirement.

 

[redsquirrel]

It's gone along geographical, racial, education and income lines in England - poor, white, less education and north voted leave. Wealthy, multiracial,higher education and south voted stay.  As a generalization, of course. Urban/non urban played a role as well.

 

Yes, same dynamic - the disenfranchised white working class voter who does not see any fruits of globalization, and is angry at not being listened to.

 

Austerity has to have played a part in this - people who experience deprivation and little control in their lives will try to control what they can, even if it isn't in their best interests long term.

 

My personal interest is in if and how this revives Scottish independence, as the Scots were strongly for remain.

 

Scotland voted quite definitely to stay in the EU. There are many statements coming out of there now staying that the UK has made a decision that is not in the best interest of Scotland and that Scotland will have to 'revisit' what this means to her future.

 

IOW, they very well might leave and join the EU themselves.

 

and ITV is now saying that Sinn Fein is calling for a vote on united Ireland.

 

Did those who voted to leave do so knowing or hoping that Scotland and Ireland would want to remain in the EU?

 

 

And I appreciate that others are not feeling particularly worried about the financial repercussions, but I am not feeling as confident.  I am feeling quite concerned. 

 

[Audrey]

It's gone along geographical, racial, education and income lines in England - poor, white, less education and north voted leave. Wealthy, multiracial,higher education and south voted stay.  As a generalization, of course. Urban/non urban played a role as well.

 

Yes, same dynamic - the disenfranchised white working class voter who does not see any fruits of globalization, and is angry at not being listened to.

 

Austerity has to have played a part in this - people who experience deprivation and little control in their lives will try to control what they can, even if it isn't in their best interests long term.

 

My personal interest is in if and how this revives Scottish independence, as the Scots were strongly for remain. Looking forward to hearing from Laura about reaction where she is.

 

The Leave profile is rather disheartening.  It seems rather similar to the profiles of other countries' right-leaning groups. 

 

I, too, am interested to see what Scotland does next.  I have a SIL there, so I'll be keen to see what happens. 

[Katy]

Yeah, this is what I told dh I want to do... he is pooh-poohing the idea.  It's retirement $ and I've got many years to go till retirement.

 

 

You'd have to have the patience to not look at the value for a while, because it will likely become super volatile.  But buying when everyone is selling is the smartest way.

[Liz CA]

If you think the John Oliver Brexit You Tube clip is too long, at least listen to the song at the end... :lol:

[Mabelen]

My two Brits are freaking out at home with the rest of us. I really can't believe this is really happening. It feels surreal.

[ChocolateReignRemix]

If you think the John Oliver Brexit You Tube clip is too long, at least listen to the song at the end... :lol:

 

Nothing like an angelic voice and face dropping those lyrics.

[ChocolateReignRemix]

 

 

And I appreciate that others are not feeling particularly worried about the financial repercussions, but I am not feeling as confident.  I am feeling quite concerned. 

 

 

Based on the information at hand, the actual financial repercussions for the average person in the EU and US will be limited.  Less true in the UK with the pound dropping like a rock.

As far as the equity markets...it could be ugly short term bit long term this should level out as real information becomes available.  The biggest slam will be because the market analysts made the wrong bet and now are panicking.

[Laura Corin]

 

 

the documentary is really long, maybe 40 min to 1 hr?  we watched the longer version with our kids.

 

 

I think it does a really good job of explaining why people in Britain want to leave.

 

lately there was this, too about the Queen voicing an opinion

http://www.breitbart.com/london/2016/06/22/her-majesty-the-eurosceptic-queen-eu-courts-denigrate-britain-by-protecting-terrorists/

 

Nigel Farage is a far-right politician with an unpleasant set of followers.  I didn't watch the video.  The article about the queen seems to be unreliable hearsay.  And even if those are her views, her views don't matter: she's the equivalent of the US flag, not a politician.

 

Yes, brexit means that scottland might vote to leave the UK and join the EU.  And Ireland has made noise about voting for reunification if the UK leaves the EU.  So, by the time this is all done, there won't really be a UK any longer.  Is just England and Wales really still the UK?

 

I am worried the UK is about to self destruct in front of our eyes

 

Whatever Ireland (Eire) votes for, they don't have the right to impose unification.  I would think that it would take Westminster to agree to that, based on the will of the Northern Irish people expressed through their assembly.  Given the traditional sectarian divide, that seems unlikely.

 

It's gone along geographical, racial, education and income lines in England - poor, white, less education and north voted leave. Wealthy, multiracial,higher education and south voted stay.  As a generalization, of course. Urban/non urban played a role as well, with London and northern cities voting remain.

 

Yes, same dynamic - the disenfranchised white working class voter who does not see any fruits of globalization, and is angry at not being listened to.

 

Austerity has to have played a part in this - people who experience deprivation and little control in their lives will try to control what they can, even if it isn't in their best interests long term.

 

My personal interest is in if and how this revives Scottish independence, as the Scots were strongly for remain. Looking forward to hearing from Laura about reaction where she is.

 

Yes

 

Scotland voted quite definitely to stay in the EU. There are many statements coming out of there now staying that the UK has made a decision that is not in the best interest of Scotland and that Scotland will have to 'revisit' what this means to her future.

 

IOW, they very well might leave and join the EU themselves.

 

Yes although it takes a long time to join the EU, and the price of oil means that Scotland as an independent nation doesn't seem viable.

My two Brits are freaking out at home with the rest of us. I really can't believe this is really happening. It feels surreal.

Yes

 

L

Edited June 24, 2016 by Laura Corin

[lailasmum]

I would agree it's feeling surreal. I'm just intensely dissapointed at this stage.

[Melissa in Australia]

how long will the EU last? France , Netherlands and Possibly Hungary are thinking of having votes to see if their populace wants to leave.

 

 

 

 

The EU lasted quite a bit longer than I though it would last. I was not at all surprised that Britain has voted to leave and always wondered why they had joined in the first place.

[SporkUK]

I also doubt this will make it easier to immigrate for Commonwealth countries. Immigration is big UK business - the current chancellor proudly goes on about non-EU immigration being for-profit. They might relax the rules slightly for some places but the expense of visas and citizenship will continue to climb and will remain a major barrier for a lot of people [currently, just the application fee for citizenship is over a grand, before we get into testing or anything]. I think the Remain campaign, or at least the part not connected to the Tories, missed a big step in not pressing the point how strongly the current immigration policies favour the rich over those with skills or family. Actually, a lot of things about the Remain campaign annoys me - it really didn't actually deal with anyone concerns and coasted on thinking that the far right wasn't that convincing. 

 

I worry about the over 2 million Brits in the EU countries as well as EU citizens here. While the referendum is so close and actually not legally binding so there may be more wiggle room and reports say it will take at least 2 years to fully exit if we do, millions of people are now in a vulnerable grey area and a lot of non-EU immigrants and our families as well as vulnerable native-born populations are concerned about the backlash when the Brexit dreams that the far right promised don't become reality. And that's before getting into how divisive the campaigns on both sides have left the UK. 

Edited June 24, 2016 by SporkUK

[eternalsummer]

I've observed that too... but I wonder if maybe this is an outsider thing. Like, I don't know that many Brits. I suspect the ones I know - even online - are more world connected? Maybe? Also, it's easier for me, as an American to be like, obviously this was a bad idea. I do see that there are reasons that some Brits are concerned about the movement toward life under EU laws instead of British made ones.

 

Probably it is because you are a liberal, and associate with other liberals.

 

At least that is my theory :)

 

Most of the people on the other online forum I follow (4chan/pol) support leave, by a large margin.  I don't know that it makes any difference at this point, really.

[Laura Corin]

The EU lasted quite a bit longer than I though it would last. I was not at all surprised that Britain has voted to leave and always wondered why they had joined in the first place.

 

Two world wars just across the Channel and in the skies overhead within fifty years, and living during them with the imminent threat of invasion, probably had a lot to do with it.  It's all very well for us to know in hindsight that the wars would be won and there would be no invasions, but joining a cooperative organisation thereafter seemed like a very good idea to my parents' generation.  This was my home town - 81,000 houses destroyed:

 

https://www.google.co.uk/search?q=bristol+blitz&safe=off&client=firefox-b-ab&tbm=isch&tbo=u&source=univ&sa=X&ved=0ahUKEwjnlsak4sDNAhUoJsAKHS8wDacQsAQIMA&biw=1696&bih=945

 

And this was London:

 

http://bombsight.org/#15/51.5050/-0.0900

 

Those cute Keep Calm and Carry On posters have a not-so-cute provenance:

 

https://en.wikipedia.org/wiki/Keep_Calm_and_Carry_On#Design_and_production

 

Edited June 24, 2016 by Laura Corin

[chiguirre]

I worry about the over 2 million Brits in the EU countries as well as EU citizens here. While the referendum is so close and actually not legally binding so there may be more wiggle room and reports say it will take at least 2 years to fully exit if we do, millions of people are now in a vulnerable grey area and a lot of non-EU immigrants and our families as well as vulnerable native-born populations are concerned about the backlash when the Brexit dreams that the far right promised don't become reality. And that's before getting into how divisive the campaigns on both sides have left the UK. 

 

So, if people get cold feet after seeing the market implosions, they might elect a pro-EU PM and this all goes away? I didn't realize that and it gives me a lot of hope for saner heads prevailing. How long do new elections take? Will there be time to start feeling the affects of the inflation due to the massive drop in the pound?

 

 

On a side note, I've heard some of Farage's quotes using both the n-word and a slur for Chinese people. Those didn't seem to immediately disqualify him from political life like they would in the US. Is that acceptable to a large chunk of UK voters or do those words not pack the punch they do to American ears?

Edited June 24, 2016 by chiguirre

[Guest]

how long will the EU last? France , Netherlands and Possibly Hungary are thinking of having votes to see if their populace wants to leave.

 

 

 

 

The EU lasted quite a bit longer than I though it would last. I was not at all surprised that Britain has voted to leave and always wondered why they had joined in the first place.

Agreeing with every word.

[HRAAB]

Can someone explain? Is Brexit binding, or could Parliament overturn the vote? How does Cameron resigning affect this? Is it at all likely that it could be overturned?

[Bluegoat]

I thought that stay would win by a smallish margin.

 

I'm not sure this will work out the way people hope, I think a lot of the same issues will remain even if they leave the EU, but I do think it's unfair to see it just as right wing discontents.  I've actually seen a surprising number of people on the left who are unhappy about elements of the EU - the way representation happens, seems to be a real frustration, the ability to create changes when it makes sense, more recently seem to consider that while they don't mind immigration, there are problems with simply having free immigration anywhere in the EU.

 

But in particular, people on the left, like people on the left in other countries, are often not happy with the kinds of international trade agreements that are being entered into.

 

There are other countries which have chosen not to enter the EU that are by no means hotbeds of far-right sentiment.  In fact I would say in general, there seems to be at the moment something of a tendency to see devolving powers as important.  So in some ways, places like Scotland that perceive the EU as helping keep power more local are actually liking it for the same reason that people in other places are disliking the EU - they feel it removes local power. 

 

If there wasn't such a sense of alienation from government outside the London region, I suspect the UK might be much more on the same page

 

But - that's all real armchair quarterbacking on my part.

.

Edited June 24, 2016 by Bluegoat

[Bluegoat]

I also doubt this will make it easier to immigrate for Commonwealth countries. Immigration is big UK business - the current chancellor proudly goes on about non-EU immigration being for-profit. They might relax the rules slightly for some places but the expense of visas and citizenship will continue to climb and will remain a major barrier for a lot of people [currently, just the application fee for citizenship is over a grand, before we get into testing or anything]. I think the Remain campaign, or at least the part not connected to the Tories, missed a big step in not pressing the point how strongly the current immigration policies favour the rich over those with skills or family. Actually, a lot of things about the Remain campaign annoys me - it really didn't actually deal with anyone concerns and coasted on thinking that the far right wasn't that convincing. 

 

I worry about the over 2 million Brits in the EU countries as well as EU citizens here. While the referendum is so close and actually not legally binding so there may be more wiggle room and reports say it will take at least 2 years to fully exit if we do, millions of people are now in a vulnerable grey area and a lot of non-EU immigrants and our families as well as vulnerable native-born populations are concerned about the backlash when the Brexit dreams that the far right promised don't become reality. And that's before getting into how divisive the campaigns on both sides have left the UK. 

 

In a way it reminds me a bit of one of the Quebec referendums we had in Canada - it was sooo close, mainly because the stay people did not really take the idea that they might lose all that seriously.

 

I'm a pretty regular reader of some British left papers, and while the editorial views might be fairly consistent, I've found it really interesting to see the commentary from readers - a lot of people who I think the Remain people thought were solid, seemed to me to have a lot of doubts or concerns.  Housing issues was a set of problems that a lot seemed to be very worried about, across the board, and they didn't see the EU as being helpful but more of a complication.

[Bluegoat]

One thing I'd like for us in AU to get out of the Brexit is for it to be somewhat easier for Australians to live and work in the UK (Canadians and other Commonwealth nations too). It's kind of ridiculous that the Queen is our monarch but it's grown more and more difficult for us to access the UK. 

 

I don't imagine that will happen though. 

 

Yeah, I would also like this.  I find it really sad that the Commonwealth has been so turned into a non-entity - I think it had a lot going for it as a group of countries with some common cultural background.  I doubt though that it will be picked up, but you never know.  There used to be a lot of Canadian/British back and forth for things like jobs and such, but it really ended as the EU became the focus. 

[Laura Corin]

So, if people get cold feet after seeing the market implosions, they might elect a pro-EU PM and this all goes away? I didn't realize that and it gives me a lot of hope for saner heads prevailing. How long do new elections take? Will there be time to start feeling the affects of the inflation due to the massive drop in the pound?

 

 

On a side note, I've heard some of Farage's quotes using both the n-word and a slur for Chinese people. Those didn't seem to immediately disqualify him from political life like they would in the US. Is that acceptable to a large chunk of UK voters or do those words not pack the punch they do to American ears?

 

The PM has resigned but the government is still in place - we are a parliamentary democracy, not a presidential system.  What happens now is that the ruling party (Conservatives) choose a new leader and s/he becomes Prime Minister.  No general election needed.

 

Officially, the UK has not yet applied to leave the EU - that will take place in the next few months.  I don't think it's politically possible for any new Prime Minister to set aside the referendum result.

 

Those words are definitely not part of the mainstream of political discourse.  There will always be some people who think he 'says it like it is' or who complain about 'political correctness'.

 

Can someone explain? Is Brexit binding, or could Parliament overturn the vote? How does Cameron resigning affect this? Is it at all likely that it could be overturned?

 

I think that parliament could probably ignore the vote, but it's not going to happen.  Cameron resigned because he was in favour of staying in, so his position is now untenable.

[eternalsummer]

There is a trend toward populism on the left and the right in the US and in other countries; on the right it seems to dovetail with a concern about open immigration policies.

 

TPTB haven't seemed to recognize the real grassroots desire for more populist policies, which is a mystery to me.  

 

Also, to characterize all followers on either side (or even most followers) as racist or stupid is kind of misguided, imo; there area lot of people both in the UK, wider EU, and the US who feel both economic and social anxiety and to some degree connect that anxiety with a loss of control - in the US, they tend to feel like government is untrustworthy and doesn't really represent their interests (see approval ratings for congress) and in the EU, they seem to be concerned that leaders of other nations make decisions that negatively impact their nation (open immigration is a big sticking point here) and they don't have a lot of power to change it as long as they are part of the EU.

 

They're legitimate concerns, imo, and, as this referendum and Trump/Bernie's popularity in the US attests, pretty widely held ones.

[regentrude]

On a side note, I've heard some of Farage's quotes using both the n-word and a slur for Chinese people. Those didn't seem to immediately disqualify him from political life like they would in the US. Is that acceptable to a large chunk of UK voters or do those words not pack the punch they do to American ears?

 

I do not think the bolded is still true... hearing some of the things certain political candidates can say out loud these days.

 

The people to whom this kind of rhetoric appeals are the same here and elsewhere.

[eternalsummer]

I do not think the bolded is still true... hearing some of the things certain political candidates can say out loud these days.

 

The people to whom this kind of rhetoric appeals are the same here and elsewhere.

 

I don't know of a political candidate (a white one, anyway) who has said the n-word in public discourse and survived politically.

 

The only references I can see to Nigel Farage's use of the word (from, admittedly, a 10-second googling session) are either what look to be unproven accusations or his defense of someone else's use of a different racial slur, after which the someone else was forced to resign.

 

So I dunno.

 

If you are referring to Trump, I don't know that he has used racial slurs?  Another 10-second google just turns up various articles arguing that his positions are racist, which is a different thing.

[Farrar]

Speaking of Farage, this was sure in bad taste:

http://www.dailymail.co.uk/news/article-3657913/Farage-slammed-saying-Leave-won-referendum-victory-without-bullet-fired-despite-Jo-Cox-murder.html

 

(I know it's the Daily Mail, it was just the first hit for his remarks.)

[Laura Corin]

Speaking of Farage, this was sure in bad taste:

http://www.dailymail.co.uk/news/article-3657913/Farage-slammed-saying-Leave-won-referendum-victory-without-bullet-fired-despite-Jo-Cox-murder.html

 

(I know it's the Daily Mail, it was just the first hit for his remarks.)

 

I suspect that this wasn't deliberate.  But yes, horrible.

[Guest]

Are the American politicians (besides Trump) being really quiet about this or I am just reading the wrong papers??

[Farrar]

Are the American politicians (besides Trump) being really quiet about this or I am just reading the wrong papers??

 

Trump's statement about Scotland was pretty ironic given that the Scots voted to remain pretty overwhelmingly.

 

IIRC, Obama previously said they should remain.

[Guest]

Trump's statement about Scotland was pretty ironic given that the Scots voted to remain pretty overwhelmingly.

 

IIRC, Obama previously said they should remain.

I remember Obama and the whole "back of the queue" comment. I saw his written statement this morning, but that was really about it. I just expected more speeches from many people- especially with the market the way it is this morning. It's rare for politicians not to be giving their sound bites. (Of course Trump excepted.)

[ChocolateReignRemix]

I remember Obama and the whole "back of the queue" comment. I saw his written statement this morning, but that was really about it. I just expected more speeches from many people- especially with the market the way it is this morning. It's rare for politicians not to be giving their sound bites. (Of course Trump excepted.)

No speech would help the markets today, and oddly enough the US markets aren't getting hammered as badly as I thought they might. At least not yet. There could be a brutal sell off today starting around 2pm.

[Guest]

Trump's statement about Scotland was pretty ironic given that the Scots voted to remain pretty overwhelmingly.

 

Yeah, I immediately cringed when I heard what he said and where he said it.

[Bluegoat]

I have a feeling that politicians from other countries making significant statements about this might be considered a significant breach of international etiquette, especially if they disagree with the result.  A bit like the De Gaulle in Quebec supporting separatism, which got him sent home in a big kerfuffle.

[KarenNC]

I'm surprised that a vote for something of this magnitude would only require a simple majority. I would have expected a much higher threshold, at least in the 60's or even 75%.

[Guest]

No speech would help the markets today, and oddly enough the US markets aren't getting hammered as badly as I thought they might. At least not yet. There could be a brutal sell off today starting around 2pm.

Oh I know it won't help. But whether or not talking is helpful to a situation usually doesn't seem to impact some people's desire to leave a sound bite and each and every opportunity. :)

 

I'm still not getting why something almost two years away is freaking the cattle out to the degree. Are we going to go through this again when the Article 50 come in, and then again when the "divorce" is finalized? I can't decide if it's a buy or sell kind of day.

[Guest]

I have a feeling that politicians from other countries making significant statements about this might be considered a significant breach of international etiquette, especially if they disagree with the result. A bit like the De Gaulle in Quebec supporting separatism, which got him sent home in a big kerfuffle.

I agree and was shocked that so many from here piped in before the vote. I guess it's fitting that they're now silent.

[regentrude]

I have a feeling that politicians from other countries making significant statements about this might be considered a significant breach of international etiquette, especially if they disagree with the result. 

 

The German chancellor made a statement. I expect other notable European politicians to comment as well.

I do not think it is breach of etiquette to comment on an event that affects the global political situation and directly your own country as well.

Of course, there is not much TO say at this point - regrettable, should stay calm, long process ahead, EU still valuable, need to work together for democracy, blah blah. I mean, what else can a sensible person say? 

Which is also why I don't really see what we would US politicians expect to comment.  

[J-rap]

I'm surprised that a vote for something of this magnitude would only require a simple majority. I would have expected a much higher threshold, at least in the 60's or even 75%.

 

I thought that too.  Especially because I know how people can get caught up in a movement without really understanding its repercussions until later.

[eternalsummer]

It makes a lot of sense for other EU leaders to have comments, as they have some real investment in the thing (especially as other countries begin to see pushes for leaving the EU, or at least making major reforms).  

 

US interests in the Brexit are a little more dilute, imo.

[Laura Corin]

I'm surprised that a vote for something of this magnitude would only require a simple majority. I would have expected a much higher threshold, at least in the 60's or even 75%.

 

Well, we don't have a constitution so......  Cameron would have looked very partisan if he had unilaterally imposed a high threshold, as he was supporting one side of the argument.  A mess.

[regentrude]

I'm still not getting why something almost two years away is freaking the cattle out to the degree. Are we going to go through this again when the Article 50 come in, and then again when the "divorce" is finalized? I can't decide if it's a buy or sell kind of day.

 

Because it is huge and carries many political ramifications. Scotland may revive the independence vote. Northern Ireland may revive push for independence, which could dangerously increase tensions in Northern Ireland.  

When UK leaves EU, more burden will fall on Germany, since UK was another one of the few net payers; increasing strong anti-Euro faction may push for Germany leaving the EU. Which would be disastrous for rest of Europe.

 

If you mean it literally financially: my take is that it is neither buy nor sell. It is sit tight and wait.

Weak euro is good for tourists, but for US industries a very strong dollar is problematic.

[Farrar]

I think lesser politicians weighing in (and candidates) is more "okay" by international standards. IIRC, Obama said something a week or so ago and it was relatively low key. I doubt he'd come out today and say anything, though I guess I could be wrong. In a few weeks or months once things have shaken out, maybe? But, yeah, bad etiquette for world leaders to be very vocal today about UK's internal affairs.

[Farrar]

Also, honestly, I think governance by referendum is just generally a mistake unless it's at the uber local level. The mass electorate imposing mandates and so forth is usually just bad. Elect officials, let them become the experts, let them make the decisions, if you don't like them, vote them out. At least, that's my own feeling about the matter.

 

ETA: To be clear, I find this a repeated problem in many US states generally... I don't know enough about how it works out in UK.

Edited June 24, 2016 by Farrar

[Dmmetler]

And... anyone else also always get the urge to visit a place when the currency drops? I was like, ooh, dh, let's do a quickie London trip. :001_rolleyes: (that eyeroll is for myself)

I'm a little ashamed that my first thought was that I should order all the Galore Park books I'll need for the next couple of years....

[regentrude]

US interests in the Brexit are a little more dilute, imo.

 

In a global world, what happens in Europe will directly affect the US.

It will affect US economy and also has strategic implications .

 

http://www.wsj.com/articles/brexit-expected-to-rattle-u-s-economy-shake-its-influence-1466741275

[eternalsummer]

Because it is huge and carries many political ramifications. Scotland may revive the independence vote. Northern Ireland may revive push for independence, which could dangerously increase tensions in Northern Ireland.  

When UK leaves EU, more burden will fall on Germany, since UK was another one of the few net payers; increasing strong anti-Euro faction may push for Germany leaving the EU. Which would be disastrous for rest of Europe.

 

If you mean it literally financially: my take is that it is neither buy nor sell. It is sit tight and wait.

Weak euro is good for tourists, but for US industries a very strong dollar is problematic.

 

More importantly than Scotland or Northern Ireland, other EU countries may experience similar referendums to leave the EU; the right is making pretty significant strides in many European countries already, largely as a response to Euro instability and especially the tenuous and controversial immigration situation.

 

Already the right-leaning parties in France, Denmark, the Netherlands, Sweden, etc. are signalling a willingness to raise the issue.

 

 

Personally I thought they'd Remain by a very small margin; certainly the media and celebrities and mainstream politicians, etc. were pretty heavily pushing Remain.  It does remind me somewhat of the support for Trump (and to some degree Bernie) - everyone says oh this is ridiculous, the sky will fall if Trump is elected, he's not qualified, etc. - but he has a significant base of support which is not necessarily strictly partisan, and that base doesn't trust what people in positions of power tell them.

[Joules]

I definitely think that there is a lesson to be learned here.  There were an awful lot of people thinking, "That will never happen."  This was high stakes and over 25% of voters didn't turn out to a vote that was lost by less than 2%.