dc koop

I don't care about changing pounds/dollars. All I know is that my flaming UK pension will be reduced by X number of dollars. Maybe by December it will have done the vanishing act

lansbury

Do you really think that a day or two is going to settle the market. It has been bouncing around for weeks now, even before the vote. FFS

I doubt it will settle until such time as some leadership emerges from those in government and some idea starts to emerge as to where the country is heading.

Giantaxe

There's a procedure for exit - that the UK agreed to, of course - that starts with Article 50 being invoked. Why would the EU negotiate with the UK on exit now, knowing that the UK could spin this out literally for ever?

mrken30

That must hurt.

I am in the fortunate position that most of my assets are now in USD. I am probably about even after being hit with the 2009 issues.

But I was hoping that I would get some pension from the UK. With the decline in the markets and decline in currency, that may not be too much now. I just hope this turns around quickly (10 years).

I am a little concerned if things will tank more after article 50 is invoked , but I am hoping they will stabilize.

dc koop

Why should Cameron get involved in anything to do with withdrawal negotiations and triggering Article 50 ?

Let the Brexit geniuses Boris and Nigel who dismissed Cameron's warnings step forward and take on the responsibility themselves.

Present situation hardly the fault of Merkel or the EU

lansbury

I've recalculated my UK pension at $/£ parity and am budgeting accordingly. It will not surprise me if the rate doesn't reach that, or worse. In fact I have budgeted to allow me not to need to change pounds to dollars until this time in 2017.

dc koop

Fortunately I have a pension from Canada and the State of California plus Soc Security and my wife's pensions to rely on but the DOW has fallen again today which has negative affects my State pension fund also

Another worry is the affect of Brexit on the rest of the EU. If it triggers off a dissolution of the organization it will definitely have very serious consequences for the rest of the world

Giantaxe

I have money in the UK, plus I will be entitled to a UK state pension in less than 10 years. I think this situation may make it more likely that I buy a small property in the UK, particularly if prices fall in the wake of Brexit. Of course, the decline in the exchange rate makes property cheaper for foreigners so that may not happen, especially around London.

mrken30

Even if it doesn't cause dissolution, but people start getting concerned about the stability of Europe. It may cause companies to have second thoughts about investing in Europe. People may start fearing for their jobs if unemployment rises. This alone could stagnate the European economy, not that it's not already.

Pulaski

Do you want to engage a debate of who caused the problem, and who is to blame, or recognize that there IS a problem and do something to fix it. At the moment the discussion about who caused the problem is something that we should leave to the historians, because how we got into this mess is largely irrelevant as to how we get out of it.

At this point in time things will get rapidly worse for EVERYONE until calmer minds prevale and leaders recognise that no matter how much we all might wish that different decisions had been taken, over many years, and that we would all be in a more comfortable position, that isn't where we are, we are in a crisis, and we need to swallow our pride and deal with the crisis rather than just pointing fingers of blame.

kimilseung

$1.32 today I see.

mrken30

Maybe this is an economic war between Europe and Britain.

As Yes, minister stated.

“In that cause we have fought with the Dutch against the Spanish, with the Germans against the French, with the French and Italians against the Germans, and with the French against the Germans and Italians.

“Divide and rule, you see. Why should we change now, when it’s worked so well?”

Appleby continues: “We had to break the whole thing up, so we had to get inside.

“We tried to break it up from the outside, but that wouldn’t work. Now that we’re inside we can make a complete pig’s breakfast of the whole thing.”

Pulaski

How incredibly prescient!

jeepster

The real reason why Brexit succeeded:

EU referendum: German and French to unveil European superstate blueprint post-Brexit | Politics | News | Daily Express

mrken30

Some of that is in the wake of Greece. Part of the problem was that there was no real way of controlling rogue States.

Sometimes you need control otherwise you end up with a situation like Detroit.

Democracy is difficult because you never know who may end up being in control. Sometimes good, sometimes bad.