To stay or not to stay in the EU that was the question
Well the answer came in loud and clear
The British want their country back
Oh no, a country voted to protect the one thing
it needs to remain a country:
Why are people acting like this is bad?
email@example.com (Simon Perry),People Fri, Jun 24 11:16 AM PDT
Prime Minister David Cameron rang the 90-year-old monarch at her Buckingham Palace home early this morning following the news that Britain had voted to leave the European Union.
Today, she may have mixed feelings about the result – and she would certainly, insiders say, be fearful of the looming specter of another referendum on pro-Europe Scotland splitting away from the United Kingdom. As there was across much of Britain, there may have been a generational divide even within the royal family.
The Queen's grandson and heir, Prince William, seemed to signal his support for the union in a speech this spring, saying, "In an increasingly turbulent world, our ability to unite in common action with other nations is essential. It is the bedrock of our security and prosperity and is central to your work." Aides denied he was talking about Europe.
How Brexit will have an
immediate impact on US travelers
Brittany Jones-Cooper Fri, Jun 24 10:18 AM PDT
sent shockwaves through the world on Thursday night. The full impact of the decision won’t be felt for months or even years, but one place where change will be immediate is travel.
When the vote to leave the EU was announced, the British pound plummeted, dropping 11% and reaching as low as $1.32 — which is the lowest it’s been since 1985 when the pound fell to $1.05. The pound has now leveled out to $1.36.
As the summer travel season ramps up, the timing of Brexit could have a huge impact on US travelers planning to visit Europe.
Here’s what you need to know: London is calling
Deciding whether you want to visit the UK boils down to simple math. In June 2015, the British pound was at $1.56. Today, it’s $1.32. Simply put, this summer it will be more affordable to visit major cities like London and Edinburgh than it has been in past years. From food to retail and hotels, your money will go farther. For instance, last June a standard room at the Strand Hotel in London’s West End would have cost you £259 or $404 a night. Right now, the same room will cost $352 a night.
According to Patrick Surry from Hopper, a travel prediction site, the border implications of Brexit could also benefit travelers. “Additional border controls are likely to make London less attractive as a European transit hub,” Surry told Yahoo Finance. “Along with a cheaper pound easing local operating costs, this could lead to lower fares to the UK in the medium term.”
After the Brexit announcement, the euro also dipped about 3%, reaching $1.10. On June 24 of last year, the euro was at $1.12. Admittedly, traveling to countries like Paris, Greece and Italy won’t be wildly cheaper than last summer, but every saved dollar counts.
Airfare could increase
This agreement has made it possible for low-cost airlines like Ryanair and easyJet to successfully operate in Europe, offering affordable airfare for visitors hopping from country to country. The competition among these low-cost carriers has benefited travelers flying to Europe from the UK, but that might change in the next couple of years. (Though the Brexit vote was Thursday, It will take a couple of years for the UK to actually separate from the EU.)
'is just the tip of the iceberg'
Christine Wang,CNBC Fri, Jun 24 8:59 AM PDT
Britons voted by 51.9 percent to quit the 28-country union, shocking markets that had priced in a win for the remain camp.
"This is the worst period, I recall since I've been in public service," Greenspan said on "Squawk on the Street."
"There's nothing like it, including the crisis — remember October 19th, 1987, when the Dow went down by a record amount 23 percent? That I thought was the bottom of all potential problems. This has a corrosive effect that will not go away."
Greenspan said the "euro currency is the immediate problem." While the euro and the euro zone were major steps in a movement toward European political integration, "it's failing," he said.
"Brexit is not the end of the set of problems, which I always thought were going to start with the euro because the euro is a very serious problem in that the southern part of the euro zone is being funded by the northern part and the European Central Bank," Greenspan said.
Even with that in mind, the European Central Bank is limited in what it can do because these fundamental problems like the stagnation of real incomes don't have easy solutions, Greenspan told CNBC.
"There's a certain amount that monetary policy can do, but our problem is fundamentally fiscal," he said, adding that this is true in the United States as well as "every major country in Europe."
Part of the problem is that the "developed countries are all aging very rapidly," which is leading to a higher ratio of government spending in the form of entitlements, Greenspan said.
The 90-year-old Greenspan presided over the Federal Reserve for 19 years, starting with the administration of President Ronald Reagan through that of George W. Bush.
Mexico, the USA and Canada are closely related in trade and commerce
We must protect our borders and remain sovereign countries