Problem with EU is over expansion (especially latest additions of Bulgaria and Romania) , their Iron Curtain expansion ended their nature of "somehow homogenous rich club" . EU should be conservative in expansion or at least introduce an "inner circle".

In mid term, I expect a new union to replace EU for West European countries (good old Common Market) and a EasternEU with close ties to West one.

And time will show if United Kingdom will lead to England (& Wales), said that Sinn Fein already asked for Northern Ireland referendum to unite with Eire, Scotland is another story

The real question is how long it will take the markets to recover.

About 1 day probably. The interesting thing to see is that the FTSE is doing a lot better than the EU markets :)

Germany is a lot worse of than the UK.

Now they don't need comply with some of the sillier EU regulations and follow laws written by people they may not have elected.

If we want to remain a member of the single market and/or do any trade whatsoever with the EU (which we do) we still have to comply with those regulations, except we just threw away any influence we had over how they are made.

I struggle to see any positive side to this result, it's more a question of how terrible it will turn out to be.

I struggle to see any positive side to this result, it's more a question of how terrible it will turn out to be.

Wait until Merkel gives away visa-free travel to 75 million Turks. Then you'll thank Nigel on your knees...

Now they don't need comply with some of the sillier EU regulations and follow laws written by people they may not have elected.

If we want to remain a member of the single market and/or do any trade whatsoever with the EU (which we do) we still have to comply with those regulations, except we just threw away any influence we had over how they are made.

I struggle to see any positive side to this result, it's more a question of how terrible it will turn out to be.

Unlikely. Sure you won't be as integrated with the EU, but that itself can give you some leverage over it. Whether the UK's in the EU or not, it's going to want the UK's money to continue functioning, and will be willing to give special concessions to make sure that happens.

{moderated} A campaign based on racism, fear and ignorance.

Oh yeah, and slight side effect the xenophobic people didn't think of, the Northern Ireland peace agreements are now voided, as the UK staying part of the EU was a non-negotiable condition.

Not to mention the families across the EU that now have to figure out whether one of the parents can no longer live and work in the country they call home.

{moderated profanity against assorted groups} Nigel Farahe

Not to mention the families across the EU that now have to figure out whether one of the parents can no longer live and work in the country they call home.

I guess both UK and EU will rule something about that, 2 years are more than enough.

I struggle to see any positive side to this result, it's more a question of how terrible it will turn out to be.

Wait until Merkel gives away visa-free travel to 75 million Turks. Then you'll thank Nigel on your knees...

Is there a particular reason why? Or is this just racism and fearmongering? Bear in mind I actually live in an area which has quite a large number of turkish immigrants.

Unlikely. Sure you won't be as integrated with the EU, but that itself can give you some leverage over it. Whether the UK's in the EU or not, it's going to want the UK's money to continue functioning, and will be willing to give special concessions to make sure that happens.

The thing is, we have a model for this in Norway, who trade in the EU and have to comply with the rules for many things. They have no vote on the rules which are passed but have option to ignore some things. I do not see us getting a significantly better deal than that because while they might want trade they won't want trade at the cost of EU member states (plus, ya know, we've just blown a load of political goodwill at this point..).

So, as it stands, we'll probably end up paying in about 2 billion a year for 'free trade' with little to no say on the rules.
(I have made that number up, but I reached it by looking at what Norway pays per capita, multiplying by the UK population, then deciding that £7.4 billion was insane (and also what was left once I dissected the rest of our "£350 million a week" figures) and scaled it back massively, so it feels legit to me.)

(The £350 million figure is also fun because, ignoring if that's the true amount or not, the massively implied thing from 'leave' was "lets spend this on the NHS", which was clearly not going to happen because that money is required to pay for the things the EU already pays for.. so we are probably looking at £100 million a week, which would just about plug the NHS gap today, however it won't in 2 years when that money has become available, and that assumes that nothing else comes out of it... on a related note, I'm looking forward to the tax cut which will be paid for from that £100 million/week...)

Not to mention the families across the EU that now have to figure out whether one of the parents can no longer live and work in the country they call home.

I guess both UK and EU will rule something about that, 2 years are more than enough.

I'm not sure they will. The EU have been pretty firm about this. They've basically said "You want to leave? Fine, but you're gone. You're in or you're out".

Either way, thousands of families are now stressing about this for no good reason.

And just in case anyone was in any doubt about why this vote went the way it did...

http://gu.com/p/4mjm5?CMP=Share_iOSApp_Other