Brexit (2) – The dubious “debate” between Remain and Leave has left no -one the wiser. It is simply beyond the grasp of most members of the public to comprehend who is telling the truth – and increasingly evident that the politicians making these dubious statements – don’t have a clue either.
There is considerable drama about the outcome of the Referendum Vote, we are led to believe that a vote to leave will lead to an apocalypse. Is this really true, I wonder?
It has been suggested that the politicians are not legally bound to act upon whatever result the Referendum throws up, for example there was a marginal decision that goes the way of Leave, then the politicians can simply state that it is not a convincing win and therefore they may simply ignore the vote and carry on as before. We are not so sure that this is simply an advisory referendum.
If there were a huge swing to Leave, then it is suggested that only if politicians felt obliged to follow this direction, would we , at some point possibly leave the EU. Even so, nothing will happen immediately, we have two years under the Lisbon Treaty to negotiate terms.
The tone of the “debate” and the dubious rhetoric of a number of politicians that has been at the forefront of this campaign will surely lead to calls for several politicians to take early retirement.
Please excuse our brief comments on Brexit, we normally prefer not to comment on political events but we feel in this instance that we have to highlight this potential political and financial time bomb, as the results of the referendum may affect the values of your investment portfolios (and holiday money) and for that reason several months ago we advised our private clients to put a proportion of their investment portfolios into our Brexit-ready investment models.
For the moment we are sticking with our structured Brexit defensive model investment portfolios, but ordinary collective investments could start looking very cheap, so await events…
If you are concerned about what to do with your investments then contact us.