The now-enacted will of (some of) the people

[Dr_Pangloss]

3 minutes ago, Nabby said:

Morgan Stanley jumping ship already 2000 jobs moving out of London 

When was this announced? 

Obvious consequence although I'm not about to shed a tear for bankers losing their jobs.

[Davkaus]

2 minutes ago, Nabby said:

Morgan Stanley jumping ship already 2000 jobs moving out of London 

The first of many. It'll sink in what people have voted for as they start losing their jobs.

[Stevo985]

11 minutes ago, Paddywhack said:

One phrase that I keep hearing and it's pissing me off; "Overnight and everybody thinks they're a politician/financial expert".

Not really, they're people in a democracy voting in probably the most important referendum in their lifetime, they can say what they want. 

Exactly what I thought.

For something like this, everyone SHOULD be an expert. People should have researched their decision.

I've got not problem with a Leave voter if they've come to a considered decision. I disagree with them, but respectfully.

[tonyh29]

39 minutes ago, One For The Road said:

We will never get this vote again

precisely why it had to be a leave 

 

41 minutes ago, One For The Road said:

Having a record number of pensioners vote meant that people who won't even be alive in a few years time, have helped damage the country for future generations

Is there going to be some type of cull of everyone over the age of 60 ?

 

 

[snowychap]

7 minutes ago, Dr_Pangloss said:

When was this announced? 

Obvious consequence although I'm not about to shed a tear for bankers losing their jobs.

Quote

From the BBC live business page

Morgan Stanley looks to move 2,000 London staff

Posted at 13:45

BBC business reporter Joe Lynam reports...

Sources within Morgan Stanley say it has already begun the process of moving about 2,000 of its London-based investment banking staff to Dublin or Frankfurt. And it has a taskforce in place.

The jobs which would be moved from the UK would be in euro clearing but also other investment banking functions and senior management.

The American investment bank needs to avail of the passporting system which allows banks to offer financial services in all countries in the EU without having to establish a permanent base in that member state.

The president of Morgan Stanley, Colm Kelleher, told Bloomberg two days ago that Brexit would be “the most consequential thing that we’ve ever seen since the war”.

 

[LondonLax]

2 minutes ago, snowychap said:

 

This is where Ireland (or an independent Scotland) has the chance to clean up. 

They could make themselves the destination of choice for English speaking financial institutions. 

[Davkaus]

There's no chance for Scotland. The one thing these companies won't want is additional uncertainty. Scotland is an unknown, for them to be viable they need to leave the UK, which isn't a quick process, and rejoin the EU, which could take years.

I'd imagine a lot of companies will be gone within 12 months, mostly to Ireland and Germany.

[mjmooney]

From an ex-colleague:

Quote

Very sombre atmosphere on campus today. 

For UK Universities leaving the EU = end of EU Research Grants which are the main revenue streams for most research intensive UK Universities. 

It also means the end of collaborative European research projects (which are based on EU Research Grants) which will push UK Universities down the global league tables as we don't have as much 'research impact' on the world. 

Student recruitment will therefore become more important to financially support us (government funding isn't our main source of income anymore following the introduction of fees and private lenders) but recruitment will be tougher as our league table position has dropped, and because our PBIS system puts people off (as proved with India) partly because of the negative 'we don't want you here' message it sent out (even if we still DID accept some students). The message the outside world was receiving was that we didn't welcome foreign students and we're still feeling the effects of this now. 

EU Universities (of which most don't charge fees) will end up receiving more of these grants and will attract our key academics, so even our UK students will start to look elsewhere and question what they're getting for £9k a year if the research isn't happening in the UK anymore.

Some UK universities will close, making a HUGE volume of people inc. lower paid workers (e.g. cleaning, maintenance, catering) unemployed. Ironically probably quite a few of whom voted leave without realising the impact it would have on their lives.

And no, this isn't me being 'doom and gloom' - this is the opinion of many learned academics I've spoken to this morning who are far cleverer than I am. How many of our 'great minds' from the EU working here will now choose to up sticks and do their research in the EU where their research is funded and collaborative and will help them further their careers?

And no, I'm not pointing any fingers, I've seen one post this morning which possibly quite rightly blames this on the EU not willing to negotiate our terms rather than the people who voted leave (thanks Kellyzee - I've been reading your posts with interest and I respect your viewpoint :-) ). I'm just stating the facts. The above is the very realistic prospect that our Uni, like so many others, are waking up to today. But who realised that? Not many people I imagine because of the way the media (both sides) chose to play this out.....

 

[Davkaus]

That pretty much reflects the thoughts of a lot of people I've been speaking to. A lot of the science and tech jobs in Nottingham are EU funded, either at the two universities, or Bio City which is a big bioscience complex.  I imagine there's similar setups in other cities. There'll be a lot of highly educated scientists made redundant within the next couple of years, unless the UK government is matching the funding.

[PaulC]

Just think all the floating voters that voted Tory in the last election because they were worried about the economy well  if they had of voted Labour we'd have not had a referendum. 

Edited June 24, 2016 by PaulC

[snowychap]

I guess the sell off of the remaining Lloyds shares is on hold for a bit.

[Dr_Pangloss]

1 minute ago, PaulC said:

Just think all the floating voters that voted Tory in the last election because they were worried about the economy well  if they had of voted Labour we'd have not had a referendum. 

The Tory management of the economy has been an utter disgrace. Potentially the worst government in modern political history.

[omariqy]

The stock market will bounce back and has already started to. Likewise the pound.  My worry is more sentiment.  Why people voted leave? I think the majority it was for nationalistic and xenophobic reasons and that worries me.

[Paddywhack]

Really wish I could go back to being about 16, when I wouldn't have given a toss about any of this.

Ignorance is bliss.

When's the new Blink 182 album out?

[bobzy]

9 minutes ago, Davkaus said:

That pretty much reflects the thoughts of a lot of people I've been speaking to. A lot of the science and tech jobs in Nottingham are EU funded, either at the two universities, or Bio City which is a big bioscience complex.  I imagine there's similar setups in other cities. There'll be a lot of highly educated scientists made redundant within the next couple of years, unless the UK government is matching the funding.

I'm in Nottingham and was wondering about this.  There's quite a bit of regen going on around Bio City (I've previously assumed to increase the funding/research capabilities) and not sure what'll happen with that now.

[Dante_Lockhart]

People have different opinions. Name calling, abuse and bickering over who they voted for isn't going to change anything now.

It's done. We need to pull together and move on and make our country stable.

[Davkaus]

Just now, bobzy said:

I'm in Nottingham and was wondering about this.  There's quite a bit of regen going on around Bio City (I've previously assumed to increase the funding/research capabilities) and not sure what'll happen with that now.

In theory, there's no reason that the UK government can't match EU funding, assuming we're not utterly shafted when setting up new trade agreements. It doesn't seem likely under Tory austerity, though.

[lapal_fan]

Just now, Dante_Lockhart said:

People have different opinions. Name calling, abuse and bickering over who they voted for isn't going to change anything now.

It's done. We need to pull together and move on and make our country stable.

Or, we could rightly blame the people who have absolutely crippled the country and sit nice and high on our horses, whilst watching our pockets on spending, buying houses becomes harder etc etc.

[CarewsEyebrowDesigner]

Tuition fees in UK will almost certainly go up and by quite a lot imo.

 

[bobzy]

1 minute ago, Dante_Lockhart said:

People have different opinions. Name calling, abuse and bickering over who they voted for isn't going to change anything now.

It's done. We need to pull together and move on and make our country stable.

Whilst plenty of people who voted Remain are coming out and expressing their worries, there are very few (if any at all) people who voted Out saying "Hold on a moment, this is all OK because <x>, <y>, <z>".

Where's the reassurance in all this?