08-12-2016, 05:34 PM
21
Re: Bye bye bankers
Originally Posted by marmaduke
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i left another forum due to the mods allowing your viscous barbed comments and your self declared modding on posts so with due respect ...... Shut it ! I will post /reply to others as/when i see fit and since the question of migration was raised in this thread then i replied to it , sadly you pop up on this site too like cameron's warning of a plague to ruin another forum ...... Do not tell people what they can post
08-12-2016, 05:45 PM
22
Re: Bye bye bankers
Originally Posted by Meg
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...the key words being 'some' and 'subsidiary'.As no knows for sure what the final arrangements will look like when we leave the EU it would be remiss of banks and big companies not to make some provision for every eventuality.
Having spoken to a person in the heart of London's financial services I was told that many in that sector would be reluctant to move to Europe because they and their families are settle here and unless something catastrophic happens the core of businesses will remain here with some kind of provision being made for banking and passporting
I admit that I know nothing about economics and finance but I do know that bankers, for all their faults, are no idiots. I'm sure that they are aware of the potential dangers if they did move their headquarters to an EU country: the distinct possibility of the rest of the EU disintegrating in the not too distant future, and the ongoing problems with the Euro.
Yes, set up subsidiaries in the EU, but don't invest too heavily in something that, by all accounts, has a rather short life ahead of it.
Then, of course, there is America. I repeat that I am no financial expert, but I have a feeling that London acts as an intermediary financially between America and Europe. Trump has made it quite clear that he would prefer to deal with us than with the EU. I'd be very surprised if that doesn't have a large bearing on how our financial sector develops.
08-12-2016, 05:57 PM
23
Re: Bye bye bankers
Originally Posted by JBR
->
That is the impression I got too.I admit that I know nothing about economics and finance but I do know that bankers, for all their faults, are no idiots. I'm sure that they are aware of the potential dangers if they did move their headquarters to an EU country: the distinct possibility of the rest of the EU disintegrating in the not too distant future, and the ongoing problems with the Euro.
Yes, set up subsidiaries in the EU, but don't invest too heavily in something that, by all accounts, has a rather short life ahead of it.
Then, of course, there is America. I repeat that I am no financial expert, but I have a feeling that London acts as an intermediary financially between America and Europe. Trump has made it quite clear that he would prefer to deal with us than with the EU. I'd be very surprised if that doesn't have a large bearing on how our financial sector develops.
Agh..... so let me get this straight ..... first of all we are lectured that the banks will leave us and the city of London will be no more ...... now we're saying they won't actually leave but will open another office somewhere in Europe just in case ?
Well that does surprise me ( not!) ..... so again project fear still alive and well eh when realities are somewhat different
Wasn't so long back these same experts were saying we're all fools if we don't join the euro ......
Rule number one in life ' never believe anything a banker or politician tells you '
08-12-2016, 06:13 PM
24
Re: Bye bye bankers
Originally Posted by JBR
->
That is the impression I got too.I admit that I know nothing about economics and finance but I do know that bankers, for all their faults, are no idiots. I'm sure that they are aware of the potential dangers if they did move their headquarters to an EU country: the distinct possibility of the rest of the EU disintegrating in the not too distant future, and the ongoing problems with the Euro.
Yes, set up subsidiaries in the EU, but don't invest too heavily in something that, by all accounts, has a rather short life ahead of it.
Then, of course, there is America. I repeat that I am no financial expert, but I have a feeling that London acts as an intermediary financially between America and Europe. Trump has made it quite clear that he would prefer to deal with us than with the EU. I'd be very surprised if that doesn't have a large bearing on how our financial sector develops.
Yes, the big American Bankers are based in the UK, but that is solely because that they have access to the EU from the UK.
When we leave they won't, a simple fact of life,
The EU guards it's services markets well, there is no access to them without Passporting.
The Swiss have access to the EU, but they have to pay a substantial fee and accept free movement.
The EU will not fail, some may leave the Eurozone, but not the EU.
Some who should have joined the Eurozone will not, that is all.
The EU is already changing, the Visigrad Group have already torpedoed Merkel's plan to spread her unwanted migrants around.
Germany is starting to deport some migrants already.
Those with the most to gain from the EU, will punish us financially for leaving to deter the others.
That is the most sensible course of action for them.
I would most certainly do it if I was in their position.
All this rubbish in the Express etc is just that, rubbish.
Us leaving will not hurt them more than it hurts us.
The EU is a much bigger economy, 40% of our exports go there, only 10% or so of theirs come here.
It is time to settle down and have some decent, responsible discussions.
It is not the time for idiot Johnson to be calling them bollocks, it really is not helpful at all.
08-12-2016, 06:13 PM
25
Re: Bye bye bankers
Originally Posted by marmaduke
->
Rule number one in life ' never believe anything a banker or politician tells you '
Sound advice, and despite all the scare stories we have been having over the past year or so, I am not in the least bit worried. What will be, will be, and whatever will be, it will be to our overall benefit as a country even if we suffer some inconveniences along the way.
08-12-2016, 06:15 PM
26
Re: Bye bye bankers
Originally Posted by marmaduke
->
Agh..... so let me get this straight ..... first of all we are lectured that the banks will leave us and the city of London will be no more ...... now we're saying they won't actually leave but will open another office somewhere in Europe just in case ?Well that does surprise me ( not!) ..... so again project fear still alive and well eh when realities are somewhat different
Wasn't so long back these same experts were saying we're all fools if we don't join the euro ......
Rule number one in life ' never believe anything a banker or politician tells you '
And no one knows which banks and financial services will do what.
08-12-2016, 06:18 PM
27
Re: Bye bye bankers
I was reading an article in the Independent months ago when this issue first came up. Then I went to the comments section.The was a lady posting there who worked in the City of London and she said something along the lines of, The City of London is the oldest and biggest clearing house for the Worlds monies. It's also highly regulated with the strictest rules.
She said, something like three quarters of the worlds banking transactions and currencies are cleared there every night and no other country is tooled up to cope with anything like that.
The Financial District in New York is the next biggest after us but would have to upgrade their operation significantly to come anywhere close to what the city is presently doing and would take a considerable time to upgrade.
She scoffed at the idea of any of the major Banks going to France because of its Labor Laws.
08-12-2016, 06:19 PM
28
Re: Bye bye bankers
Originally Posted by swimfeeders
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HiYes, the big American Bankers are based in the UK, but that is solely because that they have access to the EU from the UK.
When we leave they won't, a simple fact of life,
The EU guards it's services markets well, there is no access to them without Passporting.
The Swiss have access to the EU, but they have to pay a substantial fee and accept free movement.
The EU will not fail, some may leave the Eurozone, but not the EU.
Some who should have joined the Eurozone will not, that is all.
The EU is already changing, the Visigrad Group have already torpedoed Merkel's plan to spread her unwanted migrants around.
Germany is starting to deport some migrants already.
Those with the most to gain from the EU, will punish us financially for leaving to deter the others.
That is the most sensible course of action for them.
I would most certainly do it if I was in their position.
All this rubbish in the Express etc is just that, rubbish.
Us leaving will not hurt them more than it hurts us.
The EU is a much bigger economy, 40% of our exports go there, only 10% or so of theirs come here.
It is time to settle down and have some decent, responsible discussions.
It is not the time for idiot Johnson to be calling them bollocks, it really is not helpful at all.
Nope ......it's time brexit meant brexit and out meant 'out' was a simple question and didn't ask 'do you want to be part in part out' or do you wish to leave then pay to rejoin again ... or do you wish to leave but dip a toe ?
It asked in or out ..... we gave the answer
08-12-2016, 06:22 PM
29
Re: Bye bye bankers
Originally Posted by marmaduke
->
Agh..... so let me get this straight ..... first of all we are lectured that the banks will leave us and the city of London will be no more ...... now we're saying they won't actually leave but will open another office somewhere in Europe just in case ?Well that does surprise me ( not!) ..... so again project fear still alive and well eh when realities are somewhat different
Wasn't so long back these same experts were saying we're all fools if we don't join the euro ......
Rule number one in life ' never believe anything a banker or politician tells you '
No, that is not the case at all.
Nothing at all to do with Project Fear, we haven't left yet, so nothing much is happening.
It is what happens after we leave that matters, and that is totally dependant on how good our politicians are.
So far they have proved to be useless.
08-12-2016, 06:41 PM
30
Re: Bye bye bankers
Originally Posted by marmaduke
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Nope ......it's time brexit meant brexit and out meant 'out' was a simple question and didn't ask 'do you want to be part in part out' or do you wish to leave then pay to rejoin again ... or do you wish to leave but dip a toe ?It asked in or out ..... we gave the answer
How do you think the UK will make a living post Brexit M if passporting is refused, which is the likeliest result of being kicked out of the single market.
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