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Posts posted by Michael.

  1. The frustrating thing is the "conservatives" in the Liberal party are blaming Turnball for the election result claiming he's too left wing and that he alienated Liberal voters. Yet when he took over from Abbott he had the highest approval rating since Howard. He lost that rating by having to support so many of their unpopular policies that in the past he's officially disagreed with, gay marriage, carbon pricing etc. They are the ones to blame for this result. Not Turnball.

  2. http://www.theage.com.au/world/brexit-mayhem-as-australians-rush-to-buy-pounds-20160624-gprfuv.html

    Brexit: 'Mayhem' as Australians rush to buy pounds

    Australian currency shops experienced "mayhem" and the Commonwealth Bank temporarily suspended some foreign exchange after the Pound Sterling fell to its lowest point in more than 30 years following Britain's vote to leave the European Union.

    Customers flocked to currency exchange markets across Sydney when the 'Brexit' was announced early on Friday afternoon and the pound fell to its lowest level against the US dollar since September 1985.


    People queue at a currency exchange store in central Sydney to get their hands on pounds. Photo: Sophia Phan

    In the steepest one-day fall in the currency's history, the pound was worth US$1.5006 at 5.56pm on Thursday night local time, dropping to US$1.3241 six and a half hours later, when it became clear the Leave vote had succeeded.

    Travel Money, which owns 130 currency exchange stores in Australia, said customers rushed to "secure pounds" and had been queuing out the door at locations around the country through the afternoon.

    A similar reaction was seen at the company's stores in New Zealand.

    "The Travel Money shops in Australia are describing it as 'mayhem'," a spokesman said.

    "This does sometimes happen – when the Aussie dollar rallied strongly against the US dollar a few years ago, people scrambled to buy US dollars for their next holidays.

    "Brexit has certainly had an impact, but it's been coupled with an increase in demand for FX [foreign exchange] as a result of the upcoming school holidays. Together, these two factors have made it a very busy day."

    On Friday night, the Commonwealth Bank confirmed on Twitter it had suspended foreign exchange of transactions that didn't include Australian dollars until Monday morning, aggrieving Australian expats and tourists.

    "Due to recent results from the British exit referendum we are temporarily suspending all foreign exchange of GBP pounds and transactions that do not include AUD until further notice," the bank tweeted.

    Account holders then responded on social media, before the bank reopened its foreign exchange channels at midnight.

    In the Westfield Sydney shopping centre on Friday afternoon, at least eight people were photographed queuing at UAE Exchange.

    A worker at the store said customers began queueing to buy Pound Sterling at around 11.30am, when the vote was still being tallied, with the rush lasting for more than four hours.

    "There were so many customers," the worker said on Friday evening. "There were more buyers for the pound than usual."

    One explanation for this could be currency stores continuing to offer relatively stable prices as some economists said the "bottom [had] fallen out of the pound".

    Another could be that the pound is a "more attractive buy after the drop", with buyers stocking up while the price is low to sell later when the currency recovers.

    "People were coming and checking the rates and buying," the UAE Exchange worker said. "It's fluctuating a lot, the pound. The rates are good to buy now.

    "If you compare two or three days back, we were selling it at 48, 49 [pence per Australian dollar]. Today, it started going up. In the morning it was 51, then it went to 52. A few customers I even sold for 53.19. At the moment it's still 52.52."

  3. Well yes, I'm aware that Australia operates a traditional democratic parliamentary system, just as I thought you'd know that Europeans vote for MEPs to represent them in the European parliament. While you have a general idea of party policies from their manifesto, you obviously don't know every piece of legislation that will to go through the Australian parliament and nor do you get to vote on them; your representative does. Same as Europe.

    Sorry I didn't. I always thought it was like the UN or something where the political party in power nominated a representative. It seems weird to me then that EU parliament elections are not so much widely reported in the media as much as elections in EU nations are.

    Speaking of the UK specifically though, how do they/you elect MEPs? Do they campaign like they would a national election? Wikipedia tells me they have 72 MEPs. What happens (and it does seem illogical) but if the political party in power nationally disagrees with the MEPs?

  4. You already know the answer to that.

    Does every citizen of any country or parliament "vote" for every piece of legislation?

    Bait, bait bait.

    Well yes, in Australia voting is compulsory. Meaning once you turn 18 you must enroll to vote and if you don't you receive a fine. In every election we elect upper and lower houses of parliament. Each piece of legislation passed in the Upper house by the Government is then passed to the senate (lower) house to be voted on and enacted into law. This makes it more difficult to pass legislation because the Government doesn't generally hold a majority in the senate. Generally the two major Australian political parties (Labor and Liberal/Nationals) campaign their proposed policies that they wish to pursue if elected into Government. When Australians vote (which we will be doing in less than 2 weeks) we generally vote towards specific policies proposed by political parties and therefore elect a Government. The leader of that party is nominated Prime Minister. This is why in the last 8-9 years we have had 2 different governments but 5 different PMs.

    My question on how the EU works was a genuine one.

  5. It's too soon to tell how this will influence our elections. I wouldn't equate the two just yet. Trump's rhetoric is making waves for all the wrong reasons right now, at least stateside. Just cuz you make news doesn't mean people want to buy what you're selling. As Madonna fans we should know that ALL TOO WELL.

    If this causes significant economic downturn on US shores, then yes, that could help Trump - but it could also weaken him. He's displayed his incompetence so many times and Clinton is very happy to surgically disembowel him everytime he says something stupid.

    So let's just wait. I can tell you that Trump is pure celebrity before he is a politican - and we all know what happens to celebrities under pressure and scrutiny, they unravel. He's already showing signs of buckling. Let's see if he holds himself together. It could take one big exposè in major US publication to negate his entire campaign. There are so many journalists out there out for blood. He's made a major enemy in the press by blocking them from free reporting... Not a good move. Now they're ready to fuck him up.

    As a Non-EU and a Non-American the only thing I can say is that nearly everyone I know is opposed to Trump whereas the Brexit was treated with ambivalence. I think the majority of people are united in that he would be a horrible President.

  6. The European Commission legislates the EEA, but non-EU EEA countries don't have representation. So basically to access the single market, you are forced to accept Schengen (which the UK never had to previously) and also lose any political and economic power in writing those rules in exchange for retaining a single currency (which the UK also enjoyed previously).

    Basically this vote achieved them no independence of any kind. If anything, they are more dependent on the mercy of the remaining unified EU than ever.

    No I mean who actually votes? Like if a new law is put forward who actually votes if it passes or not? Does every citizen in the EU have the opportunity to vote for it?

  7. No please, the beautiful Black Madonna is just too smart to leave this forum.I love reading her posts. I vote for Remain.

    I've often had disagreements with her (and many others) over politics and race etc but I appreciate her input and I don't find her offensive at all. Perhaps we need to start using triggering warnings before everything we post?

  8. Because to finance the public services and the system without raising taxes for the rich, the UK will have no other choice than to sell the public services to private companies. Investors see this as a big cake they are going to share without any EU regulation. Of course the poor will be impacted more.

    I see your point. Similar to say what has happened in Russia?

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