Breakfast Brexit Merge

[FatLazyContractor]

If you have a pension you are already shafted

FTFY

FYI, I don't have a pension.

[vetran]

Just to be clear though I voted remain.

and for the record voted for independence.

so zero for two then.

[Martin@AS Financial]

(Update from Financial Reporter)

In a statement following the EU referendum result, Bank of England governor Mark Carney said the Bank "stands ready to provide more than £250bn of additional funds through its normal facilities" to support the functioning of markets.

The Bank of England said it is also able to "provide substantial liquidity in foreign currency, if required" and will be considering "additional policy responses" in the coming weeks.

Carney said: "We expect institutions to draw on this funding if and when appropriate, just as we expect them to draw on their own resources as needed in order to provide credit, to support markets and to supply other financial services to the real economy."

Carney revealed that the Treasury and the Bank of England "have engaged in extensive contingency planning and the Chancellor and I have been in close contact, including through the night and this morning".

He added that the capital requirements of the UK's largest banks are now ten times higher than before the crisis, and that the Bank of England has stress tested them against scenarios "more severe than the country currently faces".

As a result of these actions, he said that UK banks have raised over £130bn of capital, and now have more than £600bn of high quality liquid assets, which will give banks the "flexibility they need to continue to lend to UK businesses and households, even during challenging times".

The Bank had already judged that the risks around the referendum were the "most significant, near-term domestic risks to financial stability" and put in place contingency plans which it says will now support "orderly market functioning in the face of any short-term volatility".

Going forward, Carney says the Bank will continue to consult and cooperate with domestic and international authorities to ensure that the UK financial system can absorb any stresses and can concentrate on serving the real economy.

[unemployed]

report doom and gloom to price it down then some pumping to push it up

legal crims

[shaunbhoy]

FTSE100 and GBP/Euro rates have already recovered 35% of their big drops in the early hours and both are rising fast -
could be back to June 23 16:30 values by end of play (or even higher !)

Seems that no Armageddon occurred, no emergency budget will be needed .. it's just a little abnormal trading due to a huge news event !

But the sky......has anyone checked the sky??? Is it still up there or has it fallen down yet?
Oh my God........woe is me........who'd have thought it???
And "Call me Dave" is leaving........has the price of pig's heads stabilised?

[gables]

so zero for two then.

Yup seems to be, that's the way democracy works, I'm fine with that.

[shaunbhoy]

Immigration won't change. The number of people that a points based system would keep out is negligible, that's assuming Boris doesn't sign us up to freedom of movement anyway. What we pay into the EU - who knows? If we're desperate to join the EEA we could even get a worse deal than we had yesterday.

Economically, what did the 2008 recession significantly change for the ordinary person? If you kept your job, didn't have a pension or ISAs, you'd have probably been wondering what all the fuss was about. So much the same really. Some people will lose out big, and some not notice anything.

And what did you forecast last night's result as being?

[NotAllThere]

The referendum was on one question alone. There is no reason at all why the new relationship that will have to be negotiated with the EU will be very different from what it is now. In fact, I fully expect it won't make much difference to us you. Except it will be on worse terms, of course, which will make a for a poorer Britain. I mean, you could hope for better terms, but I can't see it happening.

Scotland has a better chance of getting another referendum.

[SantaClaus]

But the sky......has anyone checked the sky??? Is it still up there or has it fallen down yet?
Oh my God........woe is me........who'd have thought it???
And "Call me Dave" is leaving........has the price of pig's heads stabilised?

Truckloads of pigs heads being delivered to Downing Street as we speak.

[DimPrawn]

The referendum was on one question alone. There is no reason at all why the new relationship that will have to be negotiated with the EU will be very different from what it is now. In fact, I fully expect it won't make much difference to us you. Except it will be on worse terms, of course, which will make a for a poorer Britain. I mean, you could hope for better terms, but I can't see it happening.

Scotland has a better chance of getting another referendum.

You don't get it do you? We are free, we don't have to follow EU rules and laws and EU courts do not override our own courts of law.

Seems like we exported all the crap years ago.