Brexit revote

[Earl E Retyre]

So, in the news now is the potential of a Brexit revote. I wonder how soon that could happen and if the decision was then reversed (to stay in the EU), what would that do to the market?

 

[harley]

In the first place, the vote they just took is a non-binding vote, so there is still a chance nothing will change. As far as a re-vote, why not? Just keep voting until they get the result they want. Then the other side can call for a re-vote until they get their way again. That will keep the voters busy while nothing actually happens. Politics as usual.

 

[Senator]

So, in the news now is the potential of a Brexit revote. I wonder how soon that could happen and if the decision was then reversed (to stay in the EU), what would that do to the market?

I suspect it would reclaim the losses. I do not expect any country to actually leave the EU. There may be additional concessions, but never leaving. The EU is here to stay. No country will go broke, not even Greece.

The vote was non-binding. If Brexit actually happens, it would be like TX leaving the US.

 

[Major Tom]

As a UK citizen (albeit living in the US) I signed the petition. Currently, it has about 1.6 million signatures, which is enough to qualify for consideration for a Parliamentary debate.

There is quite a bit I'd like to say on this subject regarding my thoughts on how either a revote could happen, or the UK may avoid withdrawing from the EU. However, I don't feel sufficiently versed in the art of keeping Porky at bay, so will refrain! Regarding your question, even if a second referendum is held, and/or the UK doesn't leave the EU, enough time will have elapsed to have caused considerable damage both to the UK and other markets, I think.

OTOH, what goes down can (and will, at least eventually) come up again. I'm sure you can tell I'm a passive indexer

 

[Bestwifeever]

I saw #regrexit in an online story today--some interesting things come up if you google it. Here's one about an online petition to revote: Brexit: Do you #Regrexit? - CNNPolitics.com

 

[GravitySucks]

In the first place, the vote they just took is a non-binding vote, so there is still a chance nothing will change. As far as a re-vote, why not? Just keep voting until they get the result they want. Then the other side can call for a re-vote until they get their way again. That will keep the voters busy while nothing actually happens. Politics as usual.

Just like my local school tax budget vote. It gets voted down, try again until it passes. Always passes by the third try.

 

[Nemo2]

As far as a re-vote, why not? Just keep voting until they get the result they want.

"The floggings will continue until morale improves".

 

[Texas Proud]

Some are posting that this is a non binding vote and nothing will happen...

I doubt that... Cameron said he is leaving so someone who wants the exit to go forward will become Prime Minister... so the powers that want an exit are going to be in power.... why would you think they will not carry it out


Also, the EU has stated they want the UK to exit as quickly as possible... that they are not going to offer concessions.... heck, from what I know (and this is not much) the UK already gets the most concessions from the EU anyhow... at some time the rest of the EU has to say "NO" to someone who really does not want to be in the bloc....

 

[Earl E Retyre]

.... why would you think they will not carry it out

Mainly because of the news indicating that about 2 million signatures so far have signed an online petitions saying, "We the undersigned call upon HM Government to implement a rule that if the remain or leave vote is less than 60% based a turnout less than 75% there should be another referendum." And apparently a parliamentary committee, which can put forward petitions for debate by lawmakers, will consider the proposal Tuesday.

 

[Senator]

Some are posting that this is a non binding vote and nothing will happen...

I doubt that... Cameron said he is leaving so someone who wants the exit to go forward will become Prime Minister... so the powers that want an exit are going to be in power.... why would you think they will not carry it out??

It was a 48 to 52 vote. No matter what way you go, you irritate ~50% of the people. It's a no-win no matter what.

The easy street is to stay and keep Britain (or whatever country it is morphing into) in the EU.

 

[YVRRocketSurgery]

I suspect it would reclaim the losses. I do not expect any country to actually leave the EU. There may be additional concessions, but never leaving. The EU is here to stay. No country will go broke, not even Greece.

The vote was non-binding. If Brexit actually happens, it would be like TX leaving the US.

Quebec had a referendum about 2 decades ago on whether or not to leave Canada. It was a close vote, about a 1% difference staying in Canada over leaving Canada. If the results were the other way around, I truly think Quebec would have left Canada.
IMO, these types of referendums need be more than 50%+1 because of how sentiment changes over the years. The separatism movement in Quebec is no where close to what is was in the mid 90's.

 

[Music Lover]

It's interesting that after a 52% yes vote, that the media has only focused on those who voted "no". The opinion of the majority "yes" vote doesn't seem to be that important...

 

[Senator]

Quebec had a referendum about 2 decades ago on whether or not to leave Canada. It was a close vote, about a 1% difference staying in Canada over leaving Canada. If the results were the other way around, I truly think Quebec would have left Canada.
IMO, these types of referendums need be more than 50%+1 because of how sentiment changes over the years. The separatism movement in Quebec is no where close to what is was in the mid 90's.

The vote was about immigration and refugees. If Quebec received 100K+ refugees, rather than 2500, a new succession vote may have a different outcome.

 

[target2019]

What? Texas is leaving?

 

[Music Lover]

The vote was about immigration and refugees.

The Brexit vote was also about leaving a failing socialist union and regaining independence and control over their own future.

 

[DrRoy]

"The floggings will continue until morale improves".

I've always enjoyed that. The Megacorp motto. I think it would be reasonable to negotiate the Brexit terms and then hold a final vote when they really know what they are voting on.

 

[mpeirce]

I've always enjoyed that. The Megacorp motto. I think it would be reasonable to negotiate the Brexit terms and then hold a final vote when they really know what they are voting on.

I seriously doubt people would be talking about a revote if it had gone the other way. <sarcasm>Rather it would have demonstrated how smart and well informed the population is.</sarcasm> Geez.

 

[YVRRocketSurgery]

The vote was about immigration and refugees. If Quebec received 100K+ refugees, rather than 2500, a new succession vote may have a different outcome.

That's definitely a core issue but so is the need for making concessions in a globalization economy vs independence.

 

[Meadbh]

I've always enjoyed that. The Megacorp motto. I think it would be reasonable to negotiate the Brexit terms and then hold a final vote when they really know what they are voting on.

That does sound reasonable, but there is no provision for a revote in Article 50 of the Lisbon Treaty.

Article 50

 

[HFWR]

What? Texas is leaving?

That would be "Texit"...

 

[HFWR]

The Brexit vote was also about leaving a failing socialist union and regaining independence and control over their own future.

That's definitely a core issue but so is the need for making concessions in a globalization economy vs independence.

Two often competing interests...

Seems to me it's better to engage in dialogue/negotiation to hash out compromises. I worry about minorities all over the world being unrepresented/ignored/abused by their current governments, but dividing the world into ever smaller pieces has its own set of problems.

 

[Major Tom]

Seems to me it's better to engage in dialogue/negotiation to hash out compromises. I worry about minorities all over the world being unrepresented/ignored/abused by their current governments, but dividing the world into ever smaller pieces has its own set of problems.

+1

I think that many of those who voted for Brexit didn't fully think it out. The UK will need to renegotiate with the EU, as result of which, they will inevitably have to agree to certain levels of immigration they other wise would not, in order to retain other benefits. You have to give something in order to get something.

In our modern world, pulling up the drawbridges is not an option.

 

[languagefan]

I am British, and no matter how much I want it, the petition will not overturn the vote. The PM has resigned and things are already moving toward exit.
The petition has 2.000.000+ signatures now. But it is not going to change anything, even though referendums are not legally binding and that parliament can't reject the result if it wants (hypothetically).

 

[Senator]

That's definitely a core issue but so is the need for making concessions in a globalization economy vs independence.

Translate "making concessions" to paying more for others that are not paying as much as you are (Greece, Spain, Portugal, Italy, Ireland, immigrants, etc.)

 

[Car-Guy]

That would be "Texit"...

Yes it would.

From Brexit to Texit? Renewed calls for Texas secession after EU vote - CBS News

https://www.rt.com/usa/348303-brexit-texit-texas-secession/

Quote from the article, "The Lone Star State was the 28th to join the Union in 1845, following nine years of being an independent republic. And based on its present day $1.6 trillion economy, if it did become a separate nation, it would be among the 10 top economies in the world, Miller says."