Jean-Claude Juncker, the EU's scapegoat

Pound is still roughly on the same level, in fact during first half of the year we've seen larger growths due to natural, short term fluctuations than we did 2 days ago (before that it was a flat line scoring another record-low on 07/07 after initial collapse after referendum was announced). And just to remind you - I read comments like yours here on 29th June, and guess what - soon after pound scored another record-low.

As for stock market - you obviously see it rising in value when priced in Pounds. Companies still function as before, article 50 wasn't invoked to even begin serious changes, so the objective "value" of the companies should remain unchanged, with Pound dropping it's only natural for stocks to go up to compensate. None the less - the only British stocks that went proportionally up were FTSE-100, over half of which is made of large multi-national companies that just trade their stocks in London. Everything else lost its value when priced in USD, during last month FTSE-250 lost 7.94%, FTSE SmallCap lost 7.79%. No amount of "EU Propaganda" is going to change these numbers. That said though - I fully expect them to go back to the levels before drop, the real economic repercussions haven't even started to arrive.

ps. I'll leave that here to think through when it comes to long-term perspectives.

/r/europe Thread Parent Link - dw.com