What Does This Mean In Real Terms

[sp1814]

I know that we are now getting our sovereignty back and our borders are going to be nice and secure and we might get our first truly blonde PM since Maggie Thatcher, but what impact will our credit rating do to us - the man and woman in the street?

https://www.theguardian.com/business/live/2016/jun/27/pound-shares-markets-brexit-crisis-osborne-lew-business-live

I'm assuming that this will be a temporary blip until the markets stabilise, and we're only a few days into this - but is there any reason to be concerned?

The bit about tax revenues rings alarm bells for me.

[sp1814]

naomi24

You asked:

SP, if you think //that no-one (Leave or Remain) seems to have a clue as to a) our exit strategy, timescales or...or anything// why do you expect anyone here to answer the question?

My original question was about our credit rating, and specifically on how us losing our AAA rating would affect us.

[Gromit]

// Now think about it logically. Had the government given us a positive plan to be implemented in the event of the vote going against them, the chances are that some of those who voted with them may have done otherwise. No one with an agenda extols the virtues of the opposing agenda. That would be self-defeating and hence, counter-productive. //

I did not say the Government should have made a brexit plan public before the vote. I said they should have had a Plan B ready. Mr Osborne was not convincing yesterday. As I said, they are making it up on the hoof.

[sp1814]

I don't think we are hopelessly lost...but we have a serious problem with the Tories at the moment. They are jostling to see who will lead them, Labour is jostling to see who will lead them.

Right now, it seems as if focus has been lost.

[vetuste_ennemi]

"What does it mean..? Nothing.

Moody and Fitch? Didn't they award AAA ratings to dodgy mortgages bundled up by Nobel laureate economists (i.e. crooks) into "bomb-proof" derivatives? Forgotten the sub-prime and alt A scandals which contributed to the financial crash? And these charlatans are still in business? Anybody remember the marvellous and prophetic Bremner, Bird and Fortune sketch which exposed the rating agencies?

[naomi24]

Gromit, //I said they should have had a Plan B ready.//

How do you know they haven't? Do you really think the possibility of an 'Out' vote hasn't been discussed?

SP, Labour has a very big problem in that it's in complete disarray, but the Conservatives aren't. David Cameron has chosen to step down, so the election of a new leader is just a process they'll go through. It's not a problem. As for focus being lost, we're just three working days past the result of the referendum so hardly lost. I really wish people would stop over-reacting with all this scaremongering and negativity. It doesn't help towards generating a positive future.

[vetuste_ennemi]

love it...

https://www.youtube.com/watch?v=mzJmTCYmo9g

[sp1814]

naomi24

I think it's only natural for questions to be asked at this moment, rather than for everyone to sit back and assume that everything will be fine. There are a whole ton of questions that no-one seems to have answers for. One that I keep thinking about. Is, "What happens to the ex-pats living in Europe?"

And, what happens to EU workers currently in the UK? I'm hearing that they won't be deported, but if that's the case, surely they will need visas??

[naomi24]

sp, the government will be entering into talks with Europe so doubtless your questions will be answered at some point. For the time being Europeans here and Brits abroad will carry on as usual.

[vetuste_ennemi]

Ten minutes into this sketch.... Moody's and Fitch.

https://www.youtube.com/watch?v=9z70BKwfSUA

[Gromit]

When will Article 50 be invoked?

Parliament closes in 3 weeks for the Summer Recess, before then?
Then there is the Party Conferences, after those?
In 27 months?

[sandyRoe]

This does not mean, of course, that the pound here in Britain, in your pocket or purse, or in your bank, has been devalued”.
That wasn't right then. If we're told something similar now I won't believe it.

[sp1814]

sandyRoe

I'm going abroad a couple of times later this year, so I got my money changed up in June. The markets might settle down come August and September, but just in case - I thought it was prudent.

[Khandro]

V_e; Brilliant! but are they comedy sketches or documentaries?