UK General Election 2017

[Frozocrone]

Value of the pound went down because the markets hate uncertainty. Because of the hung parliament no one knows what the hell is going on, thus people abandon the pound and move to other currencies until the situation has some stability.

This came to be because (A) Cameron used the promise of a referendum to get more voters in 2015 and banked on Remain winning and (B) Theresa May wanting a bigger majority in order to push through her visions of Brexit without being held back by Tory swing voters (people who could vote for or against her proposals).

Yeah, there was no majority. You need 326 to get a majority (since there are 650 seats total). Now all that remains is the parties coming to some sort of agreement and making a coalition, where two or more parties agree.

The alternative is to have another election in two months time. This comes with its own problems and it's in the Tories best interests to make a coalition. They need ten more seats and it's going to reflect badly on them if they can't form an agreement.

 

[pirate555]

But given that Theresa May will have to admit that Britain will have to pay a 'divorce bill' - a sum in order to leave the EU - she is going to lose a lot of support in the Conservative party and across the country, and that coupled with her already now destroyed relationship with the rest of her MPs, makes me feel they'll be another election by Christmas 2018. Lets just hope Labour gain a majority in that next election.

I'd be very surprised if the UK needs to pay the European Union significant exit costs. If they are expected to repay a portion of the EU's debts, they then assume the rights to the organisation's assets as well, and as we've been paying in for infrastructure across Europe for over 40 years, and much else besides, we are technically due a 'return' of those assets. We either pay the debt and receive our assets also, or walk away with nothing, and pay nothing. If it really was a divorce, we would pay our liabilities, but also share the value of the house.

 

[Scammel]

I'd be very surprised if the UK needs to pay the European Union significant exit costs. If they are expected to repay a portion of the EU's debts, they then assume the rights to the organisation's assets as well, and as we've been paying in for infrastructure across Europe for over 40 years, and much else besides, we are technically due a 'return' of those assets. We either pay the debt and receive our assets also, or walk away with nothing, and pay nothing. If it really was a divorce, we would pay our liabilities, but also share the value of the house.

A very good summary. There's broad agreement that there will be a bill of some description for existing liabilities and future funding commitments, possibly somewhere between the 10-20 billion mark. What's absolutely contentious is the idea of coughing up simply for the act of leaving.