Current Affairs EU In or Out

In or Out

  • In

    Votes: 688 67.9%

  • Out

    Votes: 325 32.1%
  • Total voters
    1,013
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tsubaki said:
sadly not incredible that, farmers have been lobbying for it for ages even though we know what the outcome has been
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This is definitely one of the scary outcomes for me. If the frictional costs increase and there is pressure on the top line then something has to give and it’s not likely to be profits.

I fear a drop in standards and practices across a lot of industries.

The banana thing the Boris used to bang on about became a bit of a joke but the broader point is the the EU had a fairly high watermark for standards and practices like this one.

I’m not convinced that this particular government has the same watermark.
 
BlueDraka said:
Financial institutions based in London, UK or International, have been putting steps in place. There have been European satellite entities created to allow for European trade orders to be re-routed to European exchanges and clearing services. The impact will be relatively minor on trading via the LSE. LCH, via CREST etc. That business will continue relatively unaffected. The City will continue to adapt, as it has always adapted to the needs of the markets and money will continue to be made through trading. Brexit is done.

Posted by someone in answer to that piece.
Says it all really
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As someone who operates in the financial services industry I can tell you that ‘relatively unaffected’ is simply not true.

We’ve already exited most of our EU business as we no longer have a licence to trade in that jurisdiction. A lot of other big institutions have done exactly the same.

And we are a multi jurisdictional business. If we’ve done that, the smaller companies won’t even have the infrastructure to continue to do business in the EU.
 
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BlueDraka said:
Financial institutions based in London, UK or International, have been putting steps in place. There have been European satellite entities created to allow for European trade orders to be re-routed to European exchanges and clearing services. The impact will be relatively minor on trading via the LSE. LCH, via CREST etc. That business will continue relatively unaffected. The City will continue to adapt, as it has always adapted to the needs of the markets and money will continue to be made through trading. Brexit is done.

Posted by someone in answer to that piece.
Says it all really
Click to expand...

Finance sector will adapt, it's the UK treasury that wont, tax that will now go else where. Capiche?
 
mill said:
As someone who operates in the financial services industry I can tell you that ‘relatively unaffected’ is simply not true.

We’ve already excited most of our EU business as we no longer have a licence to trade in that jurisdiction. A lot of other big institutions have done exactly the same.

And we are a multi jurisdictional business. If we’ve done that, the smaller companies won’t even have the infrastructure to continue to do business in the EU.
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Would imagine many retail services for UK citizens in EU wil now be withdrawn as they were basically lose leaders or very small margins...
 
mill said:
As someone who operates in the financial services industry I can tell you that ‘relatively unaffected’ is simply not true.

We’ve already excited most of our EU business as we no longer have a licence to trade in that jurisdiction. A lot of other big institutions have done exactly the same.

And we are a multi jurisdictional business. If we’ve done that, the smaller companies won’t even have the infrastructure to continue to do business in the EU.
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You obviously have more knowledge of the financial system than me.
Do do you our financial system will collapse? Because as we know the city of London provides a massive amount to the UK in terms of money and jobs
 
BlueDraka said:
You obviously have more knowledge of the financial system than me.
Do do you our financial system will collapse? Because as we know the city of London provides a massive amount to the UK in terms of money and jobs
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It wont collapse.

But being in effect, an online, non paper operation, plenty of trading in all sorts of witchcraft will be relocated to places where they can continue trading easier. Like Frankfurt or Paris.

Good news eh?
 
BlueDraka said:
You obviously have more knowledge of the financial system than me.
Do do you our financial system will collapse? Because as we know the city of London provides a massive amount to the UK in terms of money and jobs
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No, it won’t collapse.
But we’ve been the financial centre for this part of the world for a long time. Geography helps, as does the fact we speak English.
But some of the tailwinds we had are dissipating.
And we rely a lot on EU citizens for expertise. It was harder for the EU to incentivise these people to go back home when we were part of it. Now that kind of things becomes easier
Our position as the financial hub for Europe is more under threat than it was a couple of weeks ago, put it that way.
It’ll still be there, it’ll still be a big part of what this country does. But there is a much bigger risk that we’ll lose market share over the next 5-10 years.
Unless something gives (standards).
 
mill said:
No, it won’t collapse.
But we’ve been the financial centre for this part of the world for a long time. Geography helps, as does the fact we speak English.
But some of the tailwinds we had are dissipating.
And we rely a lot on EU citizens for expertise. It was harder for the EU to incentivise these people to go back home when we were part of it. Now that kind of things becomes easier
Our position as the financial hub for Europe is more under threat than it was a couple of weeks ago, put it that way.
It’ll still be there, it’ll still be a big part of what this country does. But there is a much bigger risk that we’ll lose market share over the next 5-10 years.
Unless something gives (standards).
Click to expand...
I think you might be spot on with the last line.
 
roydo said:
It wont collapse.

But being in effect, an online, non paper operation, plenty of trading in all sorts of witchcraft will be relocated to places where they can continue trading easier. Like Frankfurt or Paris.

Good news eh?
Click to expand...
Who knows yet. People said it would happen if we had a leave vote. But it didn't.
 
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