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Can Brexit be overturned? What Brits are asking each other today

Is a second vote possible, or could the EU make a new offer?

Britain is coming to terms with its decision to leave the European Union after Thursday’s dramatic referendum. Here are some of the questions that are doing the rounds in the UK this weekend:

Can the referendum result somehow be overturned?

Possible, but unlikely. It’s true that the referendum is non-binding and the UK’s next prime minister is under no legal compulsion to act on the result. And a new premier could, in theory, go back to the EU and ask to negotiate a new deal before taking it back for a second vote. But this option has been ruled out by the EU’s other leaders. Most importantly, it would be extremely difficult to ignore the views of the 17.4 million people who voted to leave.

What about this petition calling for a second referendum?

A record 1.6 million people have signed a petition on Parliament’s website calling for a second vote. However, there is no mechanism in the UK for the public to trigger a referendum — the most that a petition can achieve is a debate among lawmakers. There are a few other problems. The petition demands the government annul the plebiscite if either side wins by less by 60 percent or if turnout is less than 75 percent. But the referendum has already taken place. And all the country’s leading politicians have pledged to recognize the result. So this probably won’t go very far.

Could the EU make the UK an offer that prompts a rethink?

Unlikely. So far all the indications are that Berlin, Paris and Brussels want a quick separation. “It’s not an amicable divorce, but it never really was a close love affair anyway,” said EU Commission President Jean-Claude Juncker.

When will the UK formally leave the EU?

Not for some time. Firstly, the UK needs to trigger Article 50 of the Lisbon Treaty, putting in place a two-year timeline for formal talks. However, Prime Minister David Cameron has said that’s a task for his successor, who won’t be in place for perhaps three months. And Boris Johnson, the favorite to take over, indicated Friday that there is no rush to formally start negotiations. So it seems unlikely that the UK will leave before late 2018 at the earliest.

Can the EU force the UK to trigger Article 50?

No. Only the UK can do that. That leaves a certain amount of negotiating power with Britain for now. Once the mechanism is triggered, though, the advantage switches back to the other 27 countries. So the timing of Article 50 is quite crucial.

How does the Tory leadership battle work?

Cameron said he wants his successor to be in place by early October. Assuming Conservative Party grandees decide to use the same system followed for Cameron’s election in 2005, 330 lawmakers will screen the field of candidates and whittle them down to two by July 21, when the House of Commons goes into recess for the summer. Party members will then choose the winner. 

Who are the favorites? 

Johnson is in front of the pack, according to bookmaker William Hill Plc, with odds of 8/11, giving him a 58 percent chance of winning. Theresa May, who wanted to stay in the EU, is next at 5/2, give her a probability of 29 percent, while Michael Gove, a leading Brexit campaigner, is at 10/1, giving him a 9 percent chance.

So is it a done deal for Johnson? 

Not necessarily, says Alan Duncan, a Conservative lawmaker. While Johnson is charismatic and probably the most recognized politician in Britain, he is also erratic. That may not appeal to Conservative Party members traumatized by a bitter referendum campaign. “A lot of them don’t necessarily want a permanent ride on the Big Dipper,” Duncan told BBC Radio on Saturday.

Will there be a snap election?

Jonathan Powell, Tony Blair’s former chief of staff, says any new prime minister will need a mandate from the electorate before exit talks begin. “What sort of new relationship are we going to have with the EU?” Powell said in an interview with the BBC Friday. “Are we going to be Norway? Are we going to be Canada? who are we going to be?”

Still, dissolving Parliament is not as easy as it used to be.

Since 2010, the UK has had fixed-term legislatures, and the next vote isn’t due until May 2020. But there are two circumstances in which there could be an early election. Firstly, if two-thirds of the House of Commons votes for one; and secondly, if a government loses a no-confidence vote and a new administration fails to win a confidence motion within 14 days.

Either of these could be engineered: The Conservatives have a majority, so can prevent any other administration forming, and it might be difficult for the main opposition Labour Party to argue against an election.

© 2016 Bloomberg

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In case of a 2nd referendum the Brexit fans just stay at home: game over.

Look at the sour grapes of the EU. They are trying to invalidate the British people!

This is who they are

Pinko lefties are such bad losers….

This isn’t a best out of 3….Brexit won, live with it!

Let me tell you this now: The UK is paying the UK 8500 000 000 (that would be 8.5 billion pounds a year) to be in club that tells you where to fish, what to farm, whom you can let in your country and about 40000 other things so you can trade inside it’s borders. All these things make goods and services about 8% more expensive.

Q; Why are you STILL debating this? heavens alive!

This is monumental news and indeed an historic moment. Welcome “Freedom Day”. In the modern era finally the insidious growth of big-government, parasitism and statism has curbed with a devastating blow. The people have spoken.

Q: Why should leaving the economic basket-case that is the EU would be detrimental for an economy which gave more money than it took?

The UK is the world’s fifth biggest economy and survived, prospered and thrived for 400 years without an EU agreement.

The rich will always pay more than the value they receive in cases such as taxes or contributions to the EU, so it is not really surprising that the UK pays more than what it received. UK paid about 13 billion and received 4.5 billion. Interesting that places like Ebbw Vale( Wales) and Liverpool which gets lots of funding from the EU also voted to leave. The leave campaign also ran large billboard and made big promises that the 350m a week in EU contribution can then instead be spent on the National Health Service, now that they won they suddenly back track on their promises.

You ask why leaving the EU would be detrimental to the EU? Well the EU is a 17 Trillion market with 500 million consumers that the UK was able to access tariff free, the EU is under no obligation to offer tariff free access to outsiders so the 8% your goods is now cheaper you may just end up paying in tariff or more. Then there is a fact that London is one of the 2 big financial capitals. According to the financial time Banks have already begun to move staff out of the UK.

There are countries like Sweden which is not a member but gets much of the benefits of being part of the EU, however as I understand it they had to make concession such as free movement similar to within the EU. Which is exactly what the UK was complaining about, furthermore you are now required to obey rules you have very little input in as a non-EU member, EU interfering with UK sovereignty another big reason for leave.

For a large part of the 400 years the British has a empire with almost 1/5th of the world population so it not uprising that they prospered so greatly during that time.

As for the people having spoken almost everyone expect the remain vote to win so there are stories of people using this referendum as a protest vote against the government and also people who didn’t vote believing that there was no need for them to vote as remain would win (those have no right to complain now in my opinion), highly unlikely to be enough to change the outcome. How many UK expats were stuck in the EU due to the French Traffic controller strike which resulted in hundreds of flights being cancelled? Then there is also the matter of the youth voting largely to remain and the older generation voting largely to leave, and yet it is the youth that will have to deal with the brexit for much longer yet the elder generation voted was given equal weight. Also keep in mind it was only 38% of of the British voters who voted to leave as the turn out was only 72.2% turn.

Overall I wish the best of luck to the UK although I do not want to be one of the people negotiating with the EU as the EU is likely to use the negotiation to show that you cannot have your cake and eat it at the same time so as to prevent other EU members from also leaving.

…The hyperbole, the UK would/will suffer will start to deplete.

The banks in London, of which account for more trade in $USD than Euro, will strategise ways to continue as before and those Banks like HSBC declaring a move out of 1000 employees to Paris, well that’s hype.

London is a traders paradise, where exceptions to the rule are the norm. Where EU red tape is largely ignored because the trades in trillions are $USD.

Sterling is weaker and exports will grow…so the auto-manufacturers claim to shut shop is hype as well.

No where in Europe is labour as flexible as in the UK.

The UK offered farmers incentives long before the common agriculture policy.

In the end the governing Eurocrats and their odious laws and pc-correctness, not voted by any nation in the EU have been given the finger and the UK have taken back their sovereignty.

Well done UK.

The EU is one of the slowest growing economic areas in the world. Th EU is undemocratic, because the representatives are not elected. Norway and Switzerland are not in the EU and doing a lot better that most countries in the EU. The UK is already using its own currency.

I have newfound respect for the British people.

The first of the dominoes has fallen….

The EU is dead, though it doesn’t know it yet.

the notion of a second referendum is being bandied about all over the place … ironically by people who voted Remain and are stunned by the loss …. that is, people who are blind to the feeling of the majority. The reality is that the UK government for the last 25 years or so has been blinded by the flash boys in the city and has systematically stripped down everything that happens outside London other than farming. and, since the crisis in 2009 the BoE and Downing street sided with the policies of the ECB and FED which served to greatly inflate the assets of the owners of capital and to drive the rest towards policy.

People seem surprised that this “rebellion” has arisen in the UK first … but it could be that the UK is one of the most unequal of all countries in the west ?

which is all a long way of saying that whoever makes a move to instigate a Westminster stitch up better be very very careful. in 2011 it took several days to quell riots in London … those may just be a sign of whats next.

Yes the 95% have got tired of the FED,ECB and BOE keeping interest rates at artificially low levels,impoverishing savers and pensioners, so that the 5% can borrow at 0% interest rates and their shares can keep on going higher and higher despite the world financial system being in an absolute mess!

End of comments.

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