Current Affairs EU In or Out

[ilikecheese]

http://uk.reuters.com/article/uk-britain-eu-banks-idUKKCN12M0TZ

Business News | Sun Oct 23, 2016 | 12:54am BST
British banks preparing to leave UK over Brexit - Observer

Britain's biggest banks are preparing to move out of the country in early 2017 because of fears over the impending Brexit negotiations, while smaller banks are making plans to leave before Christmas, the chief executive of the British Bankers' Association Anthony Browne said.

"The public and political debate at the moment is taking us in the wrong direction," the Observer Sunday newspaper quoted Browne as saying in an interview.

The paper released a short extract on Saturday evening but no further comments by Browne from the interview were immediately available.

Banks in Britain depend on a European "passport" to serve clients across the 28-country European Union from one base and lenders worry that this right will end after Britain leaves the EU.

Banks have already said they are making contingency plans to move some of their operations to continental Europe if Britain does not negotiate access to the EU single market after Brexit.

Prime Minister Theresa May has said she will trigger formal talks to leave the EU by the end of March 2017 after Britain voted to leave in a referendum last June.

She has said she will fight to retain access to the single market but several EU leaders have insisted that will depend on Britain accepting free movement of workers from the EU - a condition Britain has vowed to curtail.

Nothing to see here. Everything will be just fine.

Go on with your boring lives.

 

[Foot Long Hot Dog]

Ashcroft of the guy who stated the labour party would team up with the SNP and run the UK bloke that was the major factor why the Tories got their majority you mean trusting him???????????

I doubt he asked the questions

 

[Foot Long Hot Dog]

Don't get all butthurt because I asked you to qualify a poll that you put up.

And if you know about statistics and poll samples, you will know that there is a point where a poll sample is not statistically valid. The polls prior to 23rd June were predicting a win for 'Remain'. That is a singular example of how wary one should be of polls and their sample size.

If you cannot understand or accept the above, then there's nothing more I can do. You carry on attacking me because I dare to question your point(s) on here...

All of which has been nothing but a deflection and unecessasry diversion away from the simple fact that the youngest voters in this country and those in full time education were overwhelmingly in favour of Remain. This was juxtaposed with the older generation who were the converse.

Amongst the young, those with jobs and mortgages and the higher educated Remain was the winner.

 

[hullefc]

http://uk.reuters.com/article/uk-britain-eu-banks-idUKKCN12M0TZ

Business News | Sun Oct 23, 2016 | 12:54am BST
British banks preparing to leave UK over Brexit - Observer

Britain's biggest banks are preparing to move out of the country in early 2017 because of fears over the impending Brexit negotiations, while smaller banks are making plans to leave before Christmas, the chief executive of the British Bankers' Association Anthony Browne said.

"The public and political debate at the moment is taking us in the wrong direction," the Observer Sunday newspaper quoted Browne as saying in an interview.

The paper released a short extract on Saturday evening but no further comments by Browne from the interview were immediately available.

Banks in Britain depend on a European "passport" to serve clients across the 28-country European Union from one base and lenders worry that this right will end after Britain leaves the EU.

Banks have already said they are making contingency plans to move some of their operations to continental Europe if Britain does not negotiate access to the EU single market after Brexit.

Prime Minister Theresa May has said she will trigger formal talks to leave the EU by the end of March 2017 after Britain voted to leave in a referendum last June.

She has said she will fight to retain access to the single market but several EU leaders have insisted that will depend on Britain accepting free movement of workers from the EU - a condition Britain has vowed to curtail.

Some may say, don't worry it will only be a temporary blip. The potential loss of jobs to Europe will result in the property they are buying going on the market with prices dropping as they want a quick sale. London property prices will fall, which will be good for some, but at the expense of those in the Far East, Russia etc. who have hoovered up vast sums of QE money to buy London property.

As they bought the prices went up. As the prices fall they will have a depreciating asset and will sell before the fall go to far and into negative equity. A boom in property prices and then a fall was the catalyst for the 2008 crash, the UK is on a similar course of action and consequence. UK banks have been so keen to lend money to people outside the UK to buy property they have not put sufficiently rigorous checks in place.

In or out the EU this was on the cards. When the UK 'created' £500 billion of QE money since 2008 it had to go somewhere to make a profit and a huge chunk went on lending to people to buy property. All it takes is for a shock to the system, in this case leaving the EU and the financial institutes losing their 'passporting' rights for economic turmoil to happen. The UK government can of course try and pay for 'passporting' rights for the UK financial centre to trade unhindered in Europe.

 

[JonS]

Not popcorning at all, and I apologise if it's either scary or condescending, but I believe we are tetering on the edge of an economic calamity, and extra-ordinary measures are (IMO) called for.

I think we are tetering on the edge of an economic calamity anyway because of our global economic system and whether we remained or not would just be papering over the cracks

 

[peteblue]

All of which has been nothing but a deflection and unecessasry diversion away from the simple fact that the youngest voters in this country and those in full time education were overwhelmingly in favour of Remain. This was juxtaposed with the older generation who were the converse.

Amongst the young, those with jobs and mortgages and the higher educated Remain was the winner.

Why do you think the younger voters prefer remain ?.....

 

[bring the ghost on]

If you cannot understand or accept the above, then there's nothing more I can do.

What part of the above do you not understand?

You obviously don't understand ''statistically valid'

Please read what I post correctly...

Putting aside which way someone may have voted in the referendum, is it too much to ask to treat other people with some respect, as opposed to this constant stream of condescending, passive-aggressive bile?

 

[Old Blue 2]

All of which has been nothing but a deflection and unecessasry diversion away from the simple fact that the youngest voters in this country and those in full time education were overwhelmingly in favour of Remain. This was juxtaposed with the older generation who were the converse.

Amongst the young, those with jobs and mortgages and the higher educated Remain was the winner.

To precis the above: In other words those with the least experience in life, and knowledge of life, chose the 'status quo'. Speaks volumes...

 

[Old Blue 2]

Putting aside which way someone may have voted in the referendum, is it too much to ask to treat other people with some respect, as opposed to this constant stream of condescending, passive-aggressive bile?

It's not passive-aggressive bile. To state that against me is condescending in turn.

I wrote those things because I made a simple point, and respondents either chose to ignore what I had said, or not follow my point. Simples.

I suggest you take note of your own comment, and treat others with respect equally.

Jeez, the amount of butthurt on here because someone actually speaks plainly is incredible. Are we in some kind of kiddies kindergarden...???

 

[bring the ghost on]

It's not passive-aggressive bile. To state that against me is condescending in turn.

I wrote those things because I made a simple point, and respondents either chose to ignore what I had said, or not follow my point. Simples.

It's not your "plain speaking" that is the problem, it's the fact that whenever someone disagrees with you, your automatic reaction is to assume that they are incapable of grasping your point. Read the comments I quoted above and tell me that is not true.

I'm just saying, you might want to tone it down a bit because your posts are littered with a superiority complex which is painful to read at times - choose to take or leave the advice as you will.

 

[peteblue]

The EU cannot afford to offer the City a poor financial services deal.......

http://www.telegraph.co.uk/business...-to-offer-the-city-a-poor-financial-services/

Quite a good article, the last couple of paragraphs being.......

London’s advantages are hard to replicate – like the pool of 400,000 skilled finance professionals and the lawyers trained in English law, used for most financial contracts.

It’s home to the biggest markets in foreign exchange and euro derivatives. It provides a deep capital market to finance European companies: 112 of them, valued at £378bn, are listed in London.

I’m tired of hearing the refrain of young cynics all over London, who think pessimism sounds clever: “Why should they do a deal with us?” Why? Because it is in their strategic interests. Because it would be expensive not to. Because (at least, we hope) they’re not petty and vindictive. And because it’s not rocket science.

I’m not delusional enough to think that London’s position is unassailable or that politicians always do what’s rational. I voted Remain in June, because I know it isn’t and they don’t.

But the City of London has a strong case. Britain will offer to keep up reasonable cooperation with the EU in return for a sensible deal, to the advantage of both.

Philip Hammond, the Chancellor, promised in front of the Treasury Select Committee to make the City a top priority in Brexit talks. Europe’s politicians should now promise to make economic wellbeing, not punitive dogma, theirs.

 

[Prevenger17]

It's not passive-aggressive bile.

Jeez, the amount of butthurt on here because someone actually speaks plainly is incredible. Are we in some kind of kiddies kindergarden...???

All in the same post. Amazing.

 

[Foot Long Hot Dog]

To precis the above: In other words those with the least experience in life, and knowledge of life, chose the 'status quo'. Speaks volumes...

Or alternatively, those with the greatest vested interest in the medium term economic outlook and those who have their full working lives ahead of them thought that the 'status quo' was both the sensible and most pragmatic decision.

 

[Foot Long Hot Dog]

Why do you think the younger voters prefer remain ?.....

I think free movement was part of it. Many want to experience work and life beyond these shores and that freedom allows them to do so by simply rocking up.

I also think that they're generally less concerned about immigration, they've grown up in a multi cultural society and don't see the issue that many of the older generation did.

I also think they're not as Nationalistic as their parents and grand parents, the sovereignty issue therefore isn't a prime factor.

 

[dandydan]

All of which has been nothing but a deflection and unecessasry diversion away from the simple fact that the youngest voters in this country and those in full time education were overwhelmingly in favour of Remain. This was juxtaposed with the older generation who were the converse.

Amongst the young, those with jobs and mortgages and the higher educated Remain was the winner.

Dunno about you but I'll listen to someone with life experience before a 20 year old art student.