Basically, as has been the case for years- The EU is broke, The ECB is broke,and the European union is broken.
If UK leave, then it will be fractured, Spain, Greece, France, Portugal all in trouble, even Germany is not sitting pretty.
All it would take IF the UK leave is one other core member- Spainfor example to decide to leave, and the union will crumble.
Not many states are that happy with the union as it is, the northern states are certainly not happy.. it is, and always was a political mess.
Did I mention they are broke?
Ah well nothing a few trillion in QE and bond purchases will fix.
Shitshow whichever way you look at it.
(Adam- but you surely know the British pound sterling is still in use right?)
Just the risk the UK 'might' vote to leave is already causing chaos. UK stock markets down £34 billion in just one day this week, GBP incredibly low against dollar.... Forex markets jittery.
Brexit would be huge - don't doubt it - and it's a big part of what is happening now, worldwide. Uncertainty around the world over the future of the 500 million consumer trading block that is the EU is not 'minor' news. The vote is in seven days. It will not be postponed.
Yes, good for BTC - but not so for world stability.... if the UK votes leave. I will cash in some next Thursday because I don't think it will and I hope it does not.
I agree- and I have been telling people since before the Brexit referendum was confirmed, that a Brexit referendum would cause some wobbles - uncertainty makes markets nervous.
I have also been talking about the EU crumbling for years. (I even had a good indication 20 years ago the experiment would fail, maybe even set up to fail in the first place- sneaky Germans)
Yeah I also doubt there is any way the referendum will be postponed.
The Germans don't want the EU to fail - it's too good a market for all their industry and they are slowly owning large chunks of it without having to actually invade anywhere.
Conspiracy theories aside - the EU was genuinely (in part) set up to ensure we
didn't have yet another catastrophic war. And right now with Putin's Russia rampaging around the EU's edges, it's probably not a great time to take apart the EU as a united block - able to speak as one voice and use its trading power to curb his excesses.
Yes, it's screwed up and undemocratic, a flawed and rowing bunch of oddball misfits run by seemingly unaccountable bureaucrats. But Yugoslavia used to be one country in Europe not so long ago and look what happened when it disintegrated. European countries at each other's throats cause a lot of trouble. EU trade does seem to have kept the lid on things for a while, which is why the EU's potential failure is a threat.
Brexit is probably as much at the centre of what is happening as the halving IMHO. The coincidence of these two events' timing may well have a lot to do with why this rise is rocket-powered.
Dr. Craig Paul Roberts claims there is evidence that the EU was set up by the CIA. Makes a lot of sense.
Regardless, it looks like it is going to be broken apart. And if that alone gets TTIP removed, great start!
One big step backwards and then some State sovereignty will return and slow down some of these evils imo.
