Re: "Brexit"
 

I personally hope the UK will not opt out, but it'll only give us a short breathing space because there are all kinds of pressures in the world economy towards a break-up of the EU.
The EU is not the cause of all our troubles, whether in Italy or the UK, but just concentrates them in one institution. Does anyone really believe that replacing Brussels with London or Rome is going to make life any better for us ordinary folk?
It's irresponsible to shout "Out!" without explaining that the whole system needs changing.
And don't tell me I'm a commie - I already know!

Re: "Brexit"
 

Life is certainly better ffor ordinary folk to get on and make their own decisions and attain their own aspirations without endless state regulaton and interference and beaurocracy; which comes mostly from Brussels.

Re: "Brexit"
 

Seriously? Life better for ordinary folk? I think a teacher or nurse living in London trying to buy their own home would have appreciated more "state regulation".

By the way have you noticed that the wealthy overseas individuals and companies that have been buying swathes of London (and causing the astronomical increase in house prices) are actually "Investing in Britain". Thanks to them for that then.

Re: "Brexit"
 

Yes, but Britain isn't just London, is it. I could find you a nice house, rural setting, large garden, in the North or North Wales for 100 K.As I keep pointing out to my grandaughter, who insists on scraping by in London.

Re: "Brexit"
 

Yes I know Britain isn't just London. But it is London-centric. You mentioned aspirations and, for better or for worse, a lot of people (mostly non UK citizens I might add) think the streets of London are paved with gold and so, for them, that is where the dream is. There is a knock-on effect however, towns like St Albans, Reigate, Brighton, Southampton, Bath, et al are also un-affordable to the average earner.

Ironically, many of my visitors here from London, think we are "living the dream".

Re: "Brexit"
 

I checked with the Electoral Officer where I am registered as an oversea voter. They confirmed I will receive a ballot paper automatically.

Re: "Brexit"
 

Its the same the world over, houses cost less in Sicily than in Milan, but if you have to work in Milan its a bit pointless commuting 1000km. I know of people who commute to London daily from Hull of all places. 8 hours commuting daily, and they still insist its cheaper than living in London. Of course there is why they would want to live in Hull in the first place, but thats another pair of sleeves.
I am more inclined to agree with jonwel - the wholepack of cards is about to come crashing down, so whether you vote in or out makes little difference in the longer term. Although a European and a euro supporter at first, I have come to the conclusion that the only way Italy can survive is to get out fast, and devalue the eurolira immediately. The Uk is living on borrowed time as economists know, but ITaly is even closer to the brink.

Re: "Brexit"
 

Strongly agree...

Re: "Brexit"
 

But Italian Government debt and Italian bank debt is denominated in euros. This is the conundrum. Default for both would be the likely outcome if Italy was to leave the euro currency zone. Who knows how much of people's savings would be wiped out? Check out what happened in Argentina shortly after their default in 2001-2002. Unemployment rose to over 20%. GDP declined over 10%. Inflation returned with a bang. Around 50% of the population was deemed to be living in poverty conditions. Around 50% of peoples savings were lost. And then there with riots and demonstrations with some people losing their lives. What makes you think things would be different in Italy?

Re: "Brexit"
 

If Italy is on the brink of the abyss why is the 10 year bond yield lower for Italy than for the UK?

Re: "Brexit"
 

Quantative easing by the ECB.
Not me that's saying that Italy is on the brink of the abyss. (I actually think that the economy is slowly improving). But without being part of the euro currency, (ie adopting the lire again) things could well be very different. All very well to hark back at the good old days before the euro when a coffee cost 300 lire but not so good if one loses part of their savings, pension etc in a default whether physical or inflationary or both.

Anyway, back to Brexit. Financial markets currently have 'remain in' at around 68%. Unchanged on the past month. A bit different to the polls though.

Re: "Brexit"
 

In ITaly, public debt is growing despite austerity, private debt is growing because of austerity, and anyone who works in a bank will tell you that they are ready to go bellyup. The government has done zero to fundamentally change the system, because they can't. Those that run the country dont have their money here, and its in their interest to create a jittery market. Greece is about to default again, leaving the big Italian banks exposed again. Italy will be asked to leave the euro, or persuaded to think that it has decided to leave of its own accord, but leave it will - if the euro lasts long enough.
Re the Brexit, I think the apathy and contrariness of the great British public are being underestimated. We need one good article on straight bananas and they will be like turkeys voting for Xmas.

Re: "Brexit"
 

:lol: Real Brexiters don't need straight bananas.

Re: "Brexit"
 

Another reason to Brexit. Italy is filled with bamboccioni and the sickness is spreading....:eek:
Italy's 'big babies': court orders father to pay for upkeep of 28-year-old son

Re: "Brexit"
 

:blink:Only 28? a mere infant then.