Brexit referendum result took the world by surprise in 2016, created uncertainty for 2017 – malaysia sun

LONDON, U.K. Bitcoin value in usd – 2016 was an unprecedented year for the United Kingdom and the whole world watched in anticipation as Britain voted to leave or remain in the European Union.

The immediate impact of the referendum saw world markets witnessing major fluctuations and the pound falling to its lowest level since 1985 as the results were being announced.

Particularly fascinating was the voting demographics, with more young voters preferred Remain, while the elderly voted for Leave, highlighting a divide which some termed to be unfair for the coming generation of Britain.

The date of the referendum on whether the United Kingdom should leave or remain in the European Union, also called Brexit (Britain + Exit), was first announced in February this year by then Prime Minister David Cameron after securing a deal on Britain’s members of the EU in February.

Breaking down the numbers, England voted for Brexit by 53.4 percent to 46.6 percent, as did Wales, with Leave getting 52.5 percent of the vote and Remain 47.5 percent.

“I do not think it would be right for me to try to be the captain that steers our country to its next destination,” Cameron remarked while announcing his decision.

He was replaced by Theresa May, the former home secretary, who like her predecessor, was against Britain leaving the EU, but said she would respect the will of the people.

Prime Minister Theresa May has announced her deadline for beginning the formal Brexit process, under which she will trigger Article 50 of the Lisbon Treaty which officially launches two years of formal negotiations, before the end of March 2017.

A legal challenge to force the government to give MPs, or Parliament, a say before the Article 50 process starts has been heard in the Supreme Court.

Although it is generally believed that the go-ahead would ultimately be given by Parliament – because most MPs have said they would respect the EU referendum result – even if the government loses its appeal in the SC, having to go through the full parliamentary process could prompt attempts to amend the legislation or add in caveats, such as the U.K. What is bitcoin account having to negotiate a deal which includes staying the European single market after Brexit.

“The case is not about the merits of whether the U.K. Bitcoin what is should leave the EU. Bitcoin exchange rate api That was decided in the referendum in June. Bitcoin price in 2020 It is about determining the lawful process under the British constitution for leaving,” the BBC said while describing the court case.

The government has agreed to publish some details of its Brexit “plan” before triggering Article 50, but it is not clear how much information will be released, especially in the current scenario where it appears the government has no clear plan in sight.

According to reports, there are differences between key figures in the government on the balance between free trade and immigration curbs, in particular and a lot of debate is currently ongoing on the two key issues of how British firms will do business in the European Union and what curbs are brought in on the rights of European Union nationals to live and work in the U.K.

Former French Foreign Minister Michel Barnier has been appointed by the European Commission to lead the negotiations for the EU, once Article 50 it triggered.

For the U.K., veteran Conservative MP and Leave campaigner David Davis, former defense secretary Liam Fox and foreign secretary Boris Johnson, dubbed the Three Brexiteers, will play a central role in negotiations with the EU and seek out new international agreements, although it will be May, as prime minister, who will have the final say.

According to Brexit Secretary David Davis’ timetable, the U.K-EU separation could be achieved by December 2018, that is if the negotiations fall into place.

Defying earlier predictions that the U.K. Bitcoin exchange gbp economy would grind to a standstill following the Brexit vote, buoyant consumer spending, a low unemployment rate, rising house prices and continued growth for the country’s dominant services sector indicate the year 2016 will end on a strong note.

Six months after the unexpected referendum result, the latest batch of figures show wage growth remains solid, headline unemployment remains low, business activity continues to expand and house prices are still rising.

The FTSE 100 share index is close to an all-time high hit in October and the more domestically focused FTSE midcap index is above its pre-referendum level.

However, with Theresa May’s deadline to trigger Article 50 by the end of March 2017 approaching, the pound has come under fresh pressure in recent weeks and been prone to further downward lurches, impacting inflation and hitting people’s spending power.

The weaker pound does have a silver lining – it has resulted in tourist spending rising and exports too were helped by the currency’s fall, which makes U.K. Bitcoin price rise goods more competitive overseas.

The pace of hiring has slowed, retail sales growth has eased off and inflation is at a two-year high as the weak pound raises the cost of imports to the U.K.

Further, public finances were in a worse state than forecast in November and, looking ahead, they are expected to be in deficit for far longer than had been predicted before the referendum.

In terms of employment, while fears of job losses have, so far, proved unfounded, with employers reluctant to part with skilled workers before they have a clearer idea of the business climate, the Bank of England is predicting 250,000 job losses and believes the unemployment rate will rise from 4.9 percent now to 5.6 percent in two years’ time.

According to David Blanchflower, professor of economics at Dartmouth College in the U.S., “Business confidence is low and there is evidence that optimism is falling among businesses and consumers. Bitcoin exchange rate history graph My suspicion is that the news is not going to get better.”

“The consumer has held up pretty well and still seems to be spending and GDP growth at 0.5% is not to be sneezed at. Value of bitcoin now But the fall in the pound and the steady rise in inflation because of the rise in import prices was always going to have an impact,” he added.

The government’s independent forecasters at the Office for Budget Responsibility have published a new outlook, which forecasts that weaker business spending and a squeeze on consumers from higher inflation will dent the economy next year.

However, fears for a post-referendum recession should prove unfounded. Bitcoin news india And despite a lower than predicted growth for 2017, Britain would still outperform France and Italy next year and possibly Germany too.

And it’s not just Brexit; the country’s economic outlook will also be impacted by its key trading partners, the rest of the EU and the United States.

“Current forecasts suggest that Europe and the U.S. Bitcoin chart aud will continue to grow reasonably well in 2017, which will help temper the U.K. Bitcoin currency of which country slowdown. What is bitcoin for Next year may not be so bad for the U.K. Whats a bitcoin after all, but we will need a reasonably healthy global economy to keep us moving forward,” Andrew Sentance, also a former member of the MPC, said.

But share prices moved back from a dramatic slump in value, with both the FTSE 100 and the broader FTSE 250 index, which includes more British-based businesses, trading higher than before the referendum.

The Bank of England is hoping its decision to cut interest rates from 0.5 percent to 0.25 percent – a record low and the first cut since 2009 – will stave off recession and stimulate investment.

The U.K’s decision to leave the European Union also impacted the price of bitcoin, which rose by more than 80 percent over the course of the year.

In the run up to the June referendum Bitcoin prices surged. How to register bitcoin However, the prices subsequently dropped post the vote as sources pointed to greater odds that the U.K. would stay in the EU. What is bitcoin trading at But once the vote result was announced, the price moved back up.

Several analysts, including Joe Lee, founder of leveraged bitcoin trading platform Magnr, emphasized bitcoin’s role as a safe-haven asset to explain the significant volatility of the cryptocurrency.

Bitcoin is an uncorrelated asset class and a valuable hedging mechanism,” Lee told CoinDesk. What is a bitcoin block “In an investor portfolio where there is macroeconomic uncertainty fueled by local politics, diversifying outside of the geographical boundary becomes imperative.”

The EU, a bloc of 28 countries that reduces to 27 once the U.K. Bitcoin exchange comparison exits, has grown to become a “single market” allowing goods and people to move around, basically as if the member states were one country.

Many experts and economists are arguing for the U.K. Rate bitcoin to work towards a “soft Brexit,” under which the country can still be part “single market”, and has to accept the free movement of people as a result, instead of a complete divorce or a “hard Brexit,” which could involve the U.K. Bitcoin value history chart refusing to compromise on issues like the free movement of people in order to maintain access to the EU single market.

According to the EU’s current position, it will only allow the U.K. Bitcoin trading value to be part of the European single market (which allows tariff-free trade) if it continues to allow EU nationals the unchecked right to live and work in the U.K.

The challenge for the U.K.’s Brexit talks will be to do enough to tackle immigration concerns while getting the best possible trade arrangements with the EU.

Pro-EU campaigners believe that Brexit will hit the British economy, which relies on the free movement of EU migrant workers such as health professionals.

Brexit will have a huge impact on Irish exporters. What is a bitcoin faucet Trade between England and Ireland is worth a billion pounds per week and many exporters are hoping Brexit won’t deal another blow to his industry, through the imposition of trade barriers.

How Ireland copes with the departure of the U.K. Bitcoin price halving from the European Union will be largely dependent on the ultimate effect of Brexit on Ireland exporters.

Professor Alan Barrett, director of the Economic and Social Research Institute in Dublin, said, “One of the great frustrations about Brexit is that it could interrupt what is otherwise a very strong recovery from the difficult times of recent years.”

According to researchers, a “soft” Brexit would result in Irish economic output being around two percent smaller than it otherwise would be, while in case of a “hard” Brexit, the figure is four percent.

Eoghan Murphy, a minister in the department of finance, said Ireland can offer a solution to firms located in the U.K. Bitcoin trend who want access to the European single market.

However, there is also a growing nervousness over how the Brexit negotiations will proceed and what the final deal will be, especially with the general feeling that there is lack of a clear direction on the part of the Theresa May government.

In the event of a “hard Brexit, the Irish government will have to prepare for the unavoidable impact by measures such as cancel tax cuts, public sector pay rises, social welfare increases and some planned spending increases.

Scotland’s First Minister Nicola Sturgeon said in the wake of the Leave result that it is “democratically unacceptable” that Scotland faces being taken out of the EU when it voted to Remain.

She has repeatedly maintained she has a mandate to oppose Brexit because the referendum result north of the border was firmly in favour of remaining in the EU.

However, to follow a path of growth, member states should commit themselves even more seriously to economic reforms. Bitcoin sites The experiences of Spain, Ireland and Latvia provide actual evidence of how to pursue difficult reforms successfully.

To minimize the effect of Brexit, keep the EU on the road of reform to reinforce sustainable growth and strengthen its legitimacy, the bloc must focus on the essentials — safeguarding peace and security and ensuring the right conditions for jobs and growth.

One has to wait and watch to see how the impact of Brexit, among the most divisive political events in recent memory, will unfold in 2017 as the United Kingdom negotiates its divorce from the European Union.

TEHRAN (Tasnim) – Malaysian Prime Minister 172;172;Najib Razak called on Myanmar Thursday to stop all discrimination and attacks on Rohingya Muslims, and urged the world’s Islamic countries to act to end an unfolding ‘humanitarian tragedy’.

Malaysia has spoken out strongly against mostly Buddhist Myanmar over its treatment of its Rohingya minority, especially since October, when security forces launched a crackdown in the north of Rakhine State on the Bangladesh border, where many Rohingya live.

At least 86 people have been killed and an estimated 66,000 have fled into Bangladesh since nine Myanmar policemen were killed on Oct. Rate of bitcoin 9 in attacks on border posts the Myanmar government blamed on Rohingya supported by foreign militants.

‘The killing must stop. Bitcoin price increase The violation of women and girls must stop,’ Najib told a meeting of the Organization of Islamic Cooperation (OIC) called by Malaysia to discuss the Rohingya.