The UK referendum on the EU

As many of you will be aware, mounting disquiet in europe has led to increasing support for far right, left and separatist parties across the EU. In the UK mounting pressure from UKIP and longstanding divisions over the UK's place in the EU led to Conservative Prime Minister David cameron pledging to attempt to renegotiate Britain's place in the EU and then put the issue of continued membership to a referendum. His party succeeded against the predictions to win a majority government and as promised he has attempted to renegotiate and a deal has been secured with the referendum date set for 23/06/2016.

The issue is internationally significant as the UK makes up part of the centre right in europe and its removal will shift power internally towards the poorer south and east and away from the north. As the UK is a net contributor removal would also lead to either reduced investment in the net recipient states or a rise in tax amongst the contributors to account for the shortfall. It would also end a secondary flow of money from the UK supplementary benefit benefit system to families in EE and likely negatively impact life there. (a minimum wage job in the UK + attendant top up benefits is larger than the average wage in poland)

The details of cameron's deal are here:http://www.bbc.co.uk/news/uk-politics-eu-referendum-35622105

the main points are a removal of the treaty commitment for 'ever closer union' for the UK and a tapering suspension of in work benefits for eu immigrants for 7 years.

The broad arguments for each side are as follows:

Remain:

The UK is stronger within the EU than outside as it has a voice on decisions
better trade deals with entities like china and the US are possible because of collective bargaining.
Much of the UK employment protections come from EU legislation
The EU is democratic as the UK can elect MEPs and has a seat on the council for their head of government.
The EU would penalise a british exit and any trade deal would leave us with less control over our own affairs a la Norway or switzerland,
Businesses would leave the UK for the EU.
Free movement of people is a net benefit for the UK.
The UK benefits from investment by the EU
The EU prevents russian influence from growing in ee
Paris would take the financial market from London if we left.
the relationship with the US would be harmed.
A vote to leave will likely trigger a new Scottish referendum which most polls predict would lead to a break up of the UK.
The ECHR's authority and the Human Rights act would likely be scrapped shortly after exit


Leave:
free movement of people has depressed wages and strained infrastructure as most migrants are low skilled and low paid.
The native working class cannot compete for wages as their living costs are higher than those with family in EE.
The vote to join in the 70s was made with the promise of trade union only and the Eu has explicitly become a political project.
The Uk representation has never successfully opposed a motion in the EU.
EU law has overridden UK government policy despite that government being elected
Britain pays more in than it gets out.
German leadership of the EU is wildly out of tune with public opinion.
The EU creates excessive red tape which is hurting british industry.
The UK is the EU's largest trading partner with a trade deficit which makes any trade war self defeating.
other countries have free trade agreements with the EU despite not being members (Canada, South Korea)
The executive of the Eu is unelected.
The CAP subsidises the French unfairly and prevents proper importing from the commonwealth of food which keeps food prices artificially high.
The ECHR's authority and the Human Rights act would likely be scrapped shortly after exit


The Battlelines:

Remain:
The labour party led by Jeremy Corbin who, in his youth, opposed the EU as being a Capitalist tool to keep workers down.
The SNP led by Nicola Sturgeon who have as an end goal an independent Scotland within the EU.
The Prime minister David Cameron and a portion of the Conservative party.

Exit:
UKIP- an explicitly right wing anti eu party led by Nigel Farage- notable for taking a significant share of the votes if not the seats in the last election.
Boris Johnson- mayor of London and one of the likely successors to Cameron. He is joined by another faction within the conservative party.
Assorted 'bennites' the remnant of the followers of the late Tony Benn on the left of british politics- this is where Corbyn had his origins.

Outside the politicians there is a split with unions, banks,and industry declaring both ways. The legal profession is likewise split however the inclination there is for the leave campaign. The Army and the Crown have not commented as is traditional.

The press is likewise split with the sun and mail backing out and the guardian backing in. the telegraph will likely tacitly back out.

Any discussion of UK politics online tends to include childish name calling 'little englanders, EUSSR, Camoron, Corbynazi etc etc'. I'd be obliged if we could avoid that- it adds nothing to what is an important debate.

What are your thoughts kiwis? in or out?
 
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I know @Vitriol is happy right now. :woo:

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Running Tally Continues:

Pacific Alliance
Mexico
Peru
Chile
Columbia (who formally requested FTA talks)

Iceland
Norway
Ghana
South Korea
India
Canada
Kenya
New Zealand (Who is offering their trade negotiators to boost the UK's team of 50)
Australia
United States.
 
S&P500 took a hit, but it stabilized. GBP is still fucked. Looks like Anerican Kiwis can stop worrying about their 401ks and enjoy the spectacle.
 
S&P500 took a hit, but it stabilized. GBP is still fucked. Looks like Anerican Kiwis can stop worrying about their 401ks and enjoy the spectacle.

The stock market has been behaving erratically since middle of last year when china began to slow down. Stocks almost entered a bear market at the beginning of the year.

We all live in interesting times now lol
 
The stock market has been behaving erratically since middle of last year when china began to slow down. Stocks almost entered a bear market at the beginning of the year.

We all live in interesting times now lol

After the stock market boom from 2012-2015, there's nothing too surprising about seeing a year that's flat or even a little bearish. We've been kind of spoiled by the last few years imo.

I think the best thing we Americans can do to show solidarity is to stock up on scotch whiskey, which should be super affordable now.
 
After the stock market boom from 2012-2015, there's nothing too surprising about seeing a year that's flat or even a little bearish. We've been kind of spoiled by the last few years imo.

I think the best thing we Americans can do to show solidarity is to stock up on scotch whiskey, which should be super affordable now.

Stockes boomed while the world stagnated due to constant easing. The market was completely decoupled from the economy anyway. It's going to come back down to earth at some point.
 
FTSE 100 is now 3.45% up.

DAX still 4.6% down.

No wonder the Germans and French are slowly starting to warm to a decent deal for the UK.
 
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Well shit.

http://www.bbc.co.uk/news/uk-politics-36672591

I'm unsure if this is genuine 'can't do this' from BoJo, or some more shrewd politicking.

I'll be honest.... I don't think BoJo would've made a good PM on reflecion. I love him and he may do so when we're free of the EU and we're back to where we used to be in the world as a global trading power. We need someone tough and competent to lead us out of the briar bush of Brussels.

He'd already begun to make sounds that he wanted us to simply swap to the EEA which is not politically acceptable right now. Even May understands this and she was a Remainer.

We might find Boris coming back in a decade or he may forever be the King that Never Was.
 
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Reactions: CWCissey
I'll be honest.... I don't think BoJo would've made a good PM on reflecion. I love him and he may do so when we're free of the EU and we're back to where we used to be in the world as a global trading power. We need someone tough and competent to lead us out of the briar bush of Brussels.
Who then? No one seems to have a plan at the moment in spite of this whole thing being a possibility and your pickings seem shit, I mean slim, right now.
 
Who then? No one seems to have a plan at the moment in spite of this whole thing being a possibility and your pickings seem shit, I mean slim, right now.

Oh the plan is sign up for some new trade agreements and hope we didn't break anything serious. If we did I guess the BOE can always just extend credit until we break something else.
 
Who then? No one seems to have a plan at the moment in spite of this whole thing being a possibility and your pickings seem shit, I mean slim, right now.

It's the saddest thing about this whole thing that Bo Jos master plan consisted of Remain winning, so he could sweep in with a wave of momentum. He didn't expect to win and thus has become the latest victim of the Game of Groans, also known as British Politics.
 
Who then? No one seems to have a plan at the moment in spite of this whole thing being a possibility and your pickings seem shit, I mean slim, right now.

Well, Gove's odds have been slashed to 9/1 on being leader thanks to the betting companies. Leadsom's odds have gone from 20/1 to 9/1 and seem to keep dropping. Indeed ITV conducted a (very unscientific) poll and Leadsom walked it.

Oh the plan is sign up for some new trade agreements and hope we didn't break anything serious. If we did I guess the BOE can always just extend credit until we break something else.

We're currently on 14 states wanting to do a deal with the UK before our position on the EU relationship is clear. I don't think we have much to worry about in the medium term. The short term has already really been and gone with both FTSE100 and 250 recovering all their losses.

The markets seem to be betting on the tanking pound being very temporary and largely seems to be going down thanks to Carney's reminder he has a shitload of QE to dump in at a moment's notice.

Here's your comedy Brexit story of the day, for a bit of levity
 
Here's your comedy Brexit story of the day, for a bit of levity

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Ok that is funny. :story:


The markets seem to be betting on the tanking pound being very temporary and largely seems to be going down thanks to Carney's reminder he has a shitload of QE to dump in at a moment's notice.

The west has relied on the central banks so much over the past 8 years it's beginning to create bubbles and eccentricities in the market. More QE isn't healthy at this point but It's what the market wants.

We're currently on 14 states wanting to do a deal with the UK before our position on the EU relationship is clear. I don't think we have much to worry about in the medium term. The short term has already really been and gone with both FTSE100 and 250 recovering all their losses.

I think your outlook is quite optimistic. Oh well, time will tell.
 
Did Tony Blair forget about the Chilcot Report that's just coming up? I think he'll be busy enough with the fallout of that..

Well shit.

http://www.bbc.co.uk/news/uk-politics-36672591

I'm unsure if this is genuine 'can't do this' from BoJo, or some more shrewd politicking.
I don't know much about the machinations of the Tory party but I wonder if the fact Ruth Davidson (Before the referendum) threatened to split the Scottish Conservatives from the national party had anything to do with it?

Or maybe her announcing it (yet not bringing it up during a televised debate with Boris which was the day after) was part of a larger anti Boris sentiment that's going on behind the scenes of the Tory party?
 
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