Brexit

what a lot of nonsense
Which bit. Your lack of knowledge Re the lira or your snobbery.

Petra your post about Turkey is probably one of the biggest stories that we should be watching.

This is a cut and paste about the contagion crisis:

Euro slips after reports the ECB is concerned about exposure to Turkey
•The euro fell half a percent against the dollar after reports that the ECB officials are concerned about European banks' exposure to Turkey.
•Data from the Bank for International Settlements (BIS) showed that Spanish banks are due $83.3 billion by Turkish borrowers; French lenders are owed $38.4 billion; and banks in Italy are owed $17 billion, the FT reported.
•Perhaps, more importantly, the European Union (EU) relies heavily on Turkey to contain the flow of migrants trying to reach Europe.
Concerns are mounting that the decline will start to hit European banks. The Eurozone’s chief financial watchdog has become increasingly concerned about the exposure of some of Europe's biggest lenders to the country. They include BBVA, UniCredit and BNP Paribas, and the exposure to those lenders is being closely watched, the Financial Times reported.
The risk of contagion saw the euro fall by 0.5% against the dollarto $1.1471 at 10.15 a.m. BST (5.15 a.m. ET) on Friday.
Turkish President Recep Erdogan and his newly appointed finance minister Berat Albayrak are due to speak at 2 pm local time today. Erdogan has promised a new economic model driven by his son-in-law and new finance minister Albayrak.
Erdogan spoke briefly on Thursday night and alluded to problems with the currency, saying that "various campaigns" are underway, adding: "If they have dollars, we have our people, our righteousness and our God."
Hordijk said in an email: "President Erdogan is the elephant in the room... It is time for Erdogan to face reality.”
A "gigantic rate hike" of at least 500 basis points to calm markets and a clear commitment from the Central Bank of Turkey to support the currency could help halt the decline, Hordijk said, adding: "Another bandage to stop the lira from bleeding to death would be capital controls, but Erdogan opposes these measures.
"A painful admittance that his powers are outmatched by the forces of markets and that he may have misjudged the economic situation may be a lot to ask of the autocratic leader Erdogan, but the alternative is that the lira will meet the ground at terminal velocity; an impact that will damage the Turkish economy for years to come," he said.

www.cnbc.com/2018/08/10/european-officials-reportedly-concerned-about-exposure-to-turkey.html

Big trouble looming in the EEA and that might drag us into it because we are still attached. Even the US is open to contagion from this.

The BOE have just done a stress test for the Banking system let's hope this sort of thing was factored into the system. BOE said we can cope with anything I hope the Governor is right this time. He get's a lot wrong about Brexit predictions!

What a lot of nonsense.!

Varian you are such a snob!
I sometimes read the Daily Mail, the Express and the Sun, but only to remind myself how appalling they are. It seems that their readers are mainly interested in soaps, celebs, gambling, soft porn and a bit of sport and this lures them in to be brainwashed by the billionaire brextreemist proprietors and the followers of Putin and Steve Bannon who are behind AG's revolution.

Truly from the EU establishment stable! So if the Daily Mail, Express and the Sun readers played Bridge, or went to the London Casino's or the Monti Carlo Casino's or they went to high class 'escorts' instead of a bit of soft porn in the Sun, you would class them as remain voters, rather than Brexiteers is that what you are saying? Cause that is what it seems you are saying.

I would like to label you an appalling human being, but that would be very wrong of me since I do not know you at all other than the things you say on here, and that is a very narrow view of your personality. So I would never say such a things to you or anyone else it would be rude and wrong. Would you adjust your socialist attitude if these same people who read the Express, The Sun and the Daily Mail were attending Food Banks, would you be one of the socialist's using them to condemn the Government, no real care for people or understanding for the individual just use them to make your ideological point?

Such a generalist Varian...categorising people by the newspapers they read, insulting their intelligence, because of the newspapers they might read. Shame on you!

Oh my! crystaltipps, just come on line. My first reaction was to answer your post with fact's. Directing you to the Parliamentary Library to see all the documents about Brexit, and all the risk assessment that have been done. Or even the Department for Exiting the EU...but then I realise I have put these links up before.

As usual crystaltipps you are misrepresenting, misinterpreting what I have said. However, it did not occur to me till last night that you are part of the establishment in this revolution, you are supporting the let's play it safe campaigners, let's not worry about what the people say in a Democratic majority vote, two actually. Let's make it as difficult as we can for the people's vote, for that is what any Democratic vote is, and we have had two and we are leaving Europe. That means as far as I am concerned that those who are wanting change, have brought about a revolution through the ballot box, to free the UK from the establishment, the EU a trading organisation that is imprisoning Country's through trading agreements that can only be renewed if the "four freedoms" as they call them are embedded in the trade deals.

As far as I am concerned what ever deal the Government negotiations come out with, will be better than what we have now.

When I say 'get with the programme' that is what I meant, your constantly putting up barrier's, not even logical ones, just repeating the negative propaganda that is born out of the panic that is overwhelming the Pro Europe campaign[s].

Take a look at the negotiations, take a look at how the world might look in the next fifty years. Take a look at the EU, since it is the mess that they have got 27 Country's into that we are attempting to avoid by leaving.

As for the Government only addresses Brexiteeers, which News and Media are you plugged into, it certainly is not the biased propaganda I see and hear from the puppets of the establishment and I don't mean the UK establishment I mean the EU establishment that has taken us over by stealth over the last 45 years and before that by destroying our steel and Coal Industries since WW11.

If we had a constitution, just as the Americans start there I would draw your attention to "We the people". That includes you and all the other citizens of the UK, because we are all wanting to live in peace, prosperity, and set the UK on a path for the twenty first century. Unfortunately we are setting out as with all revolutions (ballot box ones are somewhat unusual, so I am very proud of that) on a programme of change, a programme of promise, not guarantees. Even when we are born there are no guarantees...we get a sealed bag of time....we don't know how much is in it. We have parent's we don't know if they will be good or not so good. We are born into societies that may be a peace, may be at war, may be in a depression or may be flying high. But we all pull together. If you don't want that then you have to do change your own circumstances, not overturn the democracy that the majority have put their trust in.

This is very rushed I would like to have said things better or even more strongly, but this will have to do.

joelsnan
And some posters debate economies

Perhaps I should have given someone a clue regarding the Turkish lira. It's a 4 letter word beginning in d and ending t.

The lack of knowledge on here Re the money markets is sometimes truly staggering.

crystaltips
A number of EU banks, particularily in Spain and France have loaned billions to Turkey and their currency appears to be in freefall raising the potential of default on these loans.

The £ isn’t exactly buoyant

But it seems not your ability to debate without making sweeping, usually derogatory generalisations varian.

Why? The Turkish lira is not part of the euro.

If the Turkish lira keeps dropping Brexit will look like a walk in the park. The euro will be seriously damaged.

My extensive reading has informed my views..

Perhaps with all your extensive reading varian you should consider finding some reading material which would enable you to partake in adult debate without resorting to your usual sweeping generalisations about those who voted to leave the EU and those who choose to read the Daily Mail, the Express and the Sun.

Your arrogance and perceived intellectual superiority seems to know no bounds.

I read a lot of far left propaganda in the "i", the Times.the Financial Times. the Guardian. the Scotsman, the Telegraph. The Herald. the Economist, the New Statesman. the Week, the Spectator. the New Scientist and other similar loony lefty publications.

I sometimes read the Daily Mail, the Express and the Sun, but only to remind myself how appalling they are. It seems that their readers are mainly interested in soaps, celebs, gambling, soft porn and a bit of sport and this lures them in to be brainwashed by the billionaire brextreemist proprietors and the followers of Putin and Steve Bannon who are behind AG's revolution.

“Get with the programme “? What programme? We don’t even know - is it a Norway type deal? An economically damaging no deal solution? Or are we just supposed to support anything this government suggests this week which we know will be rejected if not by the EU then our own parliament.? I may be stating the obvious here but I thought that our government is supposed to represent and protect the interests of all the people of this land, to look at the bigger picture, potential threats and risks that could affect us all. Yet since the referendum the government has only addressed Brexiteers, which is crazy, because the referendum was never meant to dictate what the government should do with regard to a Brexit deal post-referendum .
Focusing just on how to satisfy 'the will of the people', which translates as just the percentage of those who voted in the referendum for Exit, has been this government's downfall. It has cause bitter divisions and enmity. We now know what a totalitarian revolution must have been like. Allyg now taking on the Torykip mantle with meaningless slogans and rhetoric. Labelling anyone who disagrees with the unknown “programme” anarchists/ trotskyists/bolsheviks/ communists /fascists / extremists without any recognition of what these labels actually mean is frankly bonkers. Telling them you know what they look like - haven’t worked that one out. Childish slogans about playing the ball when not actually doing so yourself is definitely pot-kettle. Still, you’ve got a revolution to run, can’t be doing with getting your facts right, will it be re education, brainwashing or the firing squad?

Varian sorry to ask so directly but I am now off to bed. Do you ever read anything about Brexit other than the far left propaganda and the Pro Europe stuff from the wealthy business barons and ex politicians with self interest in remaining in the EU?
Has it occurred to you that you are part of the establishment, just realised that, and I am part of the revolution. WOW! now that's a turn up for the books!

And Jacob Ree's Mogg's know that how? To talk about recovery suggest's that somehow Brexit will bring us back in fifty years to where we are now. No! Brexit will take us into the world of International development, trading, high tech sciences and development's. Medical innovation etc. We normally have change brought about by force through wars, revolutions and conflict. This a change through the Ballot box, it is a conflict situation, but thank goodness that it is being fought out on the field of propaganda the internet, media and social media.

You prefer to believe the Governor of the Bank of England, who had to apologies for his incorrect forecast about the collapse of the economy if there was a Leave vote. Twice he has got his sums wrong. He is the most disrespected Governor of the Bank of England that we ever had.
So don't put your money on him Varian.

I never pretend Varian. Again you always exaggerate other posters work who you disagree with. The Worlds biggest trading organisation is failing. Look to the EU, for evidence of that. If we do not get out we will go down with them.

Our nearest neighbours as you put it don't give a damn. In fact many of them are right behind us and some will follow.Don't you yet realise that we are leaving the EU not Europe, and we will still be trading with them.

Do you know what is causing some, most of the issues, is those activist who are trying to bring this Country down. Those who don't believe in the UK Democracy, who can't accept majority vote. Who would rather see anarchy that stable Government and a future outside the EU. Brexit is about change, it is about the future for our next generations, it will require brave people, strong people, and those prepared to work hard. It will be difficult, it will demand some b--l's. We will not succumb to Trotsky type communism or any other form of far left politics. Get with the Programme!

A lot of voters were led to believe that voting leave would make them personally and the country as a whole better off. Now the brexiters are having to admit that it would damage the economy to such an extent that, according to Jacob Rees Mogg, it may take 50 years to recover.

On matters of economics, I prefer to trust the Governor of the Bank of England, and the vast majority of professional economists who agree with him.

So now you try to pretend it is about other things such as the sovereignty we have always had and the ability to trade world wide which we have always had, but we will lose our place in the world's biggest trading block, comprising all of our nearest neighbours, and with it our place in the world and the respect we once had as a great country.

If it is from the BOE Governor I think I would like some sort of confirmation from another source!

Although it will cost to leave, just as it cost to join and remain in the EU trade organisation. Nothing for nothing Crys! What we gain is more than money, it is freedom, self direction and free market trading world wide.

www.theweek.co.uk/93785/how-much-money-has-brexit-cost-the-uk
£40 billion and counting .. so we haven’t paid anything for all the extra ministers. Civil servants , lawyers ?

Actually I don't think we have paid anything out either yet!
How many billions do you think it is going to be then crystaltipps ?

Not saved anything yet... just paying out billions.

Varian who would you say is your main Remain leader?