[simonswords82]

There has been so much scaremongering in the UK press that the markets are now reacting accordingly.

Ultimately trade deals are important not just to the UK but to the countries it trades with. People in power will make deals happen because they have to.

There's going to be some short term pain - but ultimately everything will balance out.

[creshal]

> Ultimately trade deals are important not just to the UK but to the countries it trades with. People in power will make deals happen because they have to.

It's wishful thinking that the deals will be as favourable to the UK, with its now much smaller leverage.

[simonswords82]

I never said anything about the deals with the EU being as favourable.

[AnonymousPlanet]

If the so-called scaremongering proves to be true (foreign investment shifting away from UK, etc.), I'm afraid, people like you will call it a conspiracy and a global plot facilitated by a vengeful EU.

[simonswords82]

Will I call it a conspiracy? That's very insightful of you, thanks for your fortune telling.

There's going to be pain, but I have confidence that we'll get deals in place that on average over the next five to ten years will see things balance out.

[AnonymousPlanet]

Your comment raised a red flag for me, because "scaremongering in the UK press" implies some kind of concerted effort, a conspiracy, to subvert the truth. That is why I, probably unfairly, placed you in a certain camp.

Five to ten years is a very long time to bet on. I do not share your confidence. And it looks like you will have less than two years time to settle things. BTW, is that five to ten years with or without Scottish oil?

Just remember: if you're wrong, the people who voted for leave and those who advocated it are to blame, no one else. Not the EU, not "the experts", not the "scaremongerers".

[simonswords82]

The Scottish oil industry is already on its arse so I don't see that coming in to play? From Wikipedia: The North Sea oil and gas industry contributed £35 billion to the UK economy (a little under 1% of GDP) in 2014 and is expected to decline in the coming years.

I have friends that used to work for BP and Co in Aberdeen and their take on it is that the good old days of oil production in Scotland are well and truly dead.

Dead dinosaurs to one side - whatever the actual truth, the media here in the UK (including the BBC in my opinion) did a terrible job of providing fact based, balanced views on the situation. Scaremongering might be a bit harsh - but the UK public are currently running scared and nothing good will come of that short or long term.

[tonyedgecombe]

So if you were heading an American business and looking to open an office in Europe right now would London still be on the list?

[simonswords82]

Right now, today? Nope. But in time as the crazy starts to subside and normality returns and everyone stops screaming the sky is falling? Possibly.