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Denti 25th Feb 2021 16:50


Originally Posted by Effluent Man (Post 10997252)
A report on R4 business this morning suggests that financial services may be in for a rough ride. It seems that the Brexit agreement completely failed to address this particular area. Maybe they were focused on the fishing..oh hang on!

Financial services were never part of the talks in the first place. Passporting can only be granted to EU member countries, and equivalence is a unilateral EU decision and not subject to negotiations. It has been already granted in areas where it is in the interest of the EU, like for example for Euro denominated derivates clearing which got an 18 months equivalence designed to give all concerned businesses the time to shift their clearing inside the Euro zone.

goofer3 25th Feb 2021 16:52

A snippet from fn, Financial News, Monday 22nd February;

https://cimg1.ibsrv.net/gimg/pprune....12e494e79c.jpg

ORAC 25th Feb 2021 19:22

https://www.spectator.co.uk/article/...city-of-london

The EU is stepping up its raid on the city of London

Mr Mac 25th Feb 2021 19:33

goofer3
Hope you are not in banking . As Denti points out the Elephant in the room. The few and I emphasise few bankers I have met , and by that I mean not your local branch / regional ones I mean international ones, have left the UK already, they may have homes in UK but work in EU. I admit it is only 3 but they advise moves are a foot for more to move. You will get EU firms moving some sort of office to the UK as they need to work here, but it will be a regional office like say Apple store in Bristol , not head office.
Cheers
Mac

Mr Mac 25th Feb 2021 19:36

Orac
That is not news, the possibility was discussed here months ago. Chicken and roost comes to mind. But the Spectator please !
Kind regards
Mr Mac

Krystal n chips 26th Feb 2021 07:40

Fishing crisis solved !....Boris has the answer !.....nice little line from Allegra though....

Post-Brexit trade: Boris Johnson calls for eat British fish campaign - BBC News

Effluent Man 26th Feb 2021 08:54

Good luck with " Eat British Fish" as a slogan. British diners will ignore that snappy three word slogan and order steak and chips as they always have. I don't eat a great deal of meat but when I do go to a restaurant red gurnard isn't the first thing I look for on the menu.

Denti 26th Feb 2021 08:56


Originally Posted by ORAC (Post 10997677)
https://www.spectator.co.uk/article/...city-of-london

The EU is stepping up its raid on the city of London

It is not a raid on the city, it is about sovereignty and taking back control of course. The ECB did try to repatriate Euro clearing to the Euro area before, and was stopped by the ECJ which ruled that it cannot discriminate against EU member states, even those outside the Euro area. That protection no longer applies to the UK, and all major currency zones do have a very strong interest that all clearing in their own currency can only take place within their own borders. Be it the US or China, or the EU for that matter. It is simply a logical result of leaving the EU that Euro clearing will have to repatriate to the EU. Everybody knows that can not happen over night, therefore the 18 months grace period that has already been granted, unilaterally by the EU of course, the UK has no say in that.

Lately it seems, when looking into the UK from the outside, that Andrew Bailey is getting quite concerned about the impact of Brexit on the UK financial sector. Yes, the City will remain one of the largest financial centers obviously, even repatriation of much of the Euro business elsewhere will not diminish it, but it will certainly mean a few problems along the way. And yes, even inside the EU we are aware that not nearly all business (except clearing) will repatriate into the EU, much of it will probably move to other financial sectors that do have equivalence, like New York or Singapore for example.

Krystal n chips 27th Feb 2021 08:21

Not mentioned in the "getting Brexit done !" mantra, the minor detail of a loss of trade to Welsh ports........and associated business's .

Brexit: Why Irish freight trade is avoiding Britain - BBC News

Effluent Man 27th Feb 2021 08:34

If you are heading south then it makes a lot of sense to start from Cherbourg or Caen. You are already 400km into the journey - half a day's drive for a trucker. Probably more expensive but this is more than cancelled out by the fact that it is one crossing not two for Irish drivers and negates the potential hold ups that have been encountered since the advent of The Great Folly.

Sallyann1234 27th Feb 2021 11:05

Fewer HGVs on the "smart" M4. :ok:

I've been waiting for something good to come out of Brexit. This must be it.

Krystal n chips 27th Feb 2021 11:32


Originally Posted by Sallyann1234 (Post 10998579)
Fewer HGVs on the "smart" M4. :ok:

I've been waiting for something good to come out of Brexit. This must be it.

Wait until the roadworks to restore the hard shoulder begin...apparently , mainly due to a few inconvenient fatalities, our glorious politicians have now begun to question as to how safe "smart " Motorways are.

Anyway, a question for Boris at PMQ's.."does the Prime Minister know where Wales is ?"

charliegolf 27th Feb 2021 14:10


Originally Posted by Krystal n chips (Post 10998594)

Anyway, a question for Boris at PMQ's.."does the Prime Minister know where Wales is ?"

I sincerely hope not!

CG

Sallyann1234 2nd Mar 2021 13:32

Meanwhile, Brexit is still giving. Giving jobs to the EU, that is.

A report today from professional services company EY says 7,600 jobs in the financial sector have moved abroad because of Brexit, and £1.3 trn of UK assets have been transferred to Europe since the Brexit vote.

NutLoose 3rd Mar 2021 13:03

Blimey, you lot still bitching over this, its done and dusted and to be honest the world never came to an end, things are still ticking over, admittedly there is some teething problems, but they were to be expected, you don't make an omlette without cracking a few eggs. AND at least I have had my first Covid jab, unlike most of our European counterparts.

WB627 3rd Mar 2021 13:30

I hate to say it.... so I wont, I'll just let you read this...


We are now seeing the impact of Brexit – it is time for an apology from all the people who dismissed us as ‘Remoaners’
https://www.independent.co.uk/voices...-b1810392.html


Sallyann1234 3rd Mar 2021 13:45


Originally Posted by NutLoose (Post 11001044)
Blimey, you lot still bitching over this, its done and dusted and to be honest the world never came to an end, things are still ticking over, admittedly there is some teething problems, but they were to be expected, you don't make an omlette without cracking a few eggs. AND at least I have had my first Covid jab, unlike most of our European counterparts.

Where is this wonderful omelette then, that needed so many eggs to be cracked?

Krystal n chips 3rd Mar 2021 13:54


Originally Posted by NutLoose (Post 11001044)
Blimey, you lot still bitching over this, its done and dusted and to be honest the world never came to an end, things are still ticking over, admittedly there is some teething problems, but they were to be expected, you don't make an omlette without cracking a few eggs. AND at least I have had my first Covid jab, unlike most of our European counterparts.

Sorry about this, but, the justified concerns / complaints about Brexit are actually considerably more expansive in the real world away from JB.

You mentioned omelette's which are made from eggs produced by chickens.....well the chickens also produce something else in large quantities which is the perfect metaphor for Brexit...... and the chickens are coming home to roost.....

ATNotts 3rd Mar 2021 14:00


Originally Posted by WB627 (Post 11001058)
I hate to say it.... so I wont, I'll just let you read this...



https://www.independent.co.uk/voices...-b1810392.html

Excellent commentary, written with real fire in his belly. Worst thing is he's right, 100%, and none of the liars who (mis) sold Brexit to the UK will have the [email protected] to apologise, nor for that matter be effected one iota by their actions. If there was any justice they'd be brought before the courts on charges of lying and misrepresentation. Hopefully, with Covid-19 seemingly in hasty retreat in UK, the Brexit shortcomings will start to become more obvious and the Government robustly challenged.

If the UK had anything approaching an honest unbiased media, and a democratic electoral system these charlatans would be out of power in no time and the UK might retake it's rightful place at the European table. Sadly we have neither an honest media, nor a democratic electoral system, so we are stuck with the result of 2016 and the dishonest free-trade agreement cobbled together last Christmas Eve.

WB627 3rd Mar 2021 14:35

We don't have honest politicians either, which is a bigger problem than a dishonest and biased media. Time to make lying to the public by politicians a criminal offence..... but that is never going to happen whilst parliament is full of two faced lying Politian's only in it for themselves, their party and their mates.



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