Monday, June 27, 2016

Proposed referendum on United Kingdom membership of the European Union: According to Christine Lagarde underestimated markets the vote – SPIEGEL ONLINE

A quick overview

  This is happening:

  • • 51.9 per cent of British voters who voted for the exit of the country from the European Union. The turnout was over 70 percent.

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  • • Premier David Cameron has announced his retirement in October.

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  • • politician from Scotland and Northern Ireland to remain in the EU.

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  • • The pound falling dramatically in value, stock prices worldwide plunged from.

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• right-wing populists across Europe rejoice and are now demanding also referenda on the EU.

When it became clear in the night to Friday that the British majority for an EU voted outlet, responded world markets. Within a few hours plunged the rates dramatically, the pound slumped to a record low

from a panic on the markets want the head of the International Monetary Fund (IMF), Christine Lagarde nevertheless not speak -. however, the financial markets would “seriously underestimated” the referendum

“There was no panic,” Lagarde said. The central banks were prepared and had done their job, the market situation was “under control”. In the days before the vote, the rates were increased, investors were assumed to remain British in the EU.

Now the IMF chief made it clear that further development on the stock market, depending on how London and Brussels now dealt with the referendum. At the moment still prevailed great uncertainty. Politicians and institutions needed to work together now to to handle the impact of the Proposed referendum on United Kingdom membership of the European Union-vote.

Pound and Euro again under pressure

fell, the pound and the euro on Monday under pressure again. The British currency lost more than two percent against the US dollar and was trading at $ 1.3355. Thus, the British currency approached again to the lowest level since 1985, it had reached on Friday with $ 1.3228. One day after the referendum, the pound had dropped by eleven percent.

Also on the Euro exchange rate pushed the decision of the British again. The common currency was in the Far East to the dollar over one percent down at $ 1.1000. The dollar traded at 102.05 yen. The Swiss franc was quoted at Euro with 1.0724 and the dollar with 0.9742.

The Asian stock markets started a decline in the new trading week after the US stock markets had closed significantly weaker on Friday. By contrast, in Tokyo put the 225 values ​​comprehensive Nikkei index 1.64 percent to 15,206 points. He made his final loss of nearly eight percent partly offset again by Friday.

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