Although events are unfolding at a rapid pace, a lot of these things are largely irrelevant. It looks like the Conservative Party will hold itself together and conduct an orderly leadership election. The sheer panic of Friday 24rd of June is now over, and the markets have rebounded. There will be no annulment of the result, no re-runs, and no early general election. The rhetoric of the Leave politicians has changed. There has been a huge amount of back-pedalling by the Leave campaigners, who now recognise late in the day the need to cooperate closely with Europe. They now recognise that they must (1) stay in the single market, and (2) retain bank "passporting" rights, which mean that our banks can operate in Europe from London. By default, both of these would be forfeited if we left the EU. The markets have responded positively, because if Britain does maintain access to the single market and passporting, then it's almost business as usual. But I fear their optimism ...