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Really proud that my country chose democracy over a potential loss of money.
by Zpalmtree 10y ago
Really proud that my country chose democracy over a potential loss of money.
- generj 10y agoNothing potential about it - your bank account is worth 10% less than it was yesterday.
- draugadrotten 10y ago...and by the same logic, any mortgage is suddenly 10% smaller? Sounds like a good deal to the average citizen.
- generj 10y agoNo, because your mortgage is still denominated in pounds. No change there. But most goods are sold from other countries, so their prices just went up overnight. Of course, there are sticky prices but in general I would expect prices for imports to be higher in the near future with a weaker currency. However, a weak currency does encourage exports, so it is true that the benefits/costs are complex. But in the past large currency devaluations have been harmful to the average citizen, and that is the consensus on them.
- airesQ 10y agoYou had democracy, and you still do. Now Latvia has veto power on whether the UK can have access to the single market (provided that the UK ever leaves, something that has not happened).
- return0 10y agoIf they voted remain, they would have still chosen democraacy...
- ionised 10y agoThe UK has voted for unfettered servitude to the City of London financial institutions.