Brexit

[deeangeo]

I'd rather that they all kept their idiotic posturing opinions to themselves, there are only two possible options, broadly those that are mutually beneficial or alternatively mutually destructive. It would be far better all round if both sides were to put their brains into gear before opening their mouths and use some commonsense instead. It is long overdue!

Polititians & common sense in the same sentence!
Nope, sorry, can't see it, but you do have a valid point.
Cheers.

 

[User00025]

Oh no! The Brexit thread re-appears. I'm off to France on 6 May until 16 May. Ten days respite from May, Corbin and Farron. Bliss!

Give my love and Best wishes to Marine!!

 

[jimmy milnes]

Am I correct in thinking that both candidates have said they will give the people a frexit vote ?

 

[Chasey]

I'd rather that they all kept their idiotic posturing opinions to themselves, there are only two possible options, broadly those that are mutually beneficial or alternatively mutually destructive. It would be far better all round if both sides were to put their brains into gear before opening their mouths and use some commonsense instead. It is long overdue!

Mutualy destructive like we kick the horse and it hurts it a bit and they kick back and break our legs


2.5 years to go and JPM announce its moving 100key financial experts out of London into EU countries likely to take over EU clearance.

All EU funds clearance is currently done in the UK but obviously its daft to have Euro clearance carried out in a non EU country so we will lose it and the cost to the UK will be 9 Billion pounds in revenue streem

But hey whats 9 Billion right?

The good news is Dublin is the most likely benifactor

Brexit relocation: JPM moving hundreds of London bankers to Dublin, Frankfurt and Luxembourg - Business Insider

To put this in perspective 61 billion pounds is made in London stock exchange and this will be a cut of nearly 15% of turnover

The FInancial services sector as a whole is a huge profit making macheen for the UK with a 60 billion positive balance of trade on a total 124 billion turnover fro the UK

The banking sector alone contributed 24 billion in income tax and national insurance payments to the UK econamy, far and away the highest contributor of any sector

SO how are we going to cope with the projected loss?

Well austerity measures have already started. The Conservitives have just pulled all funding for training in Clyinical Psycolagy so anyone wishing to train in this field will have to be rich enough to self fund but willing to work for 36,000 a year once they qualifie.

Don't worry I am sure we can import trained staff from other countries.

A friend who is a senior fund development manger for one of the big three commercial banks has just had his leaving party as he moves to the UAE for his new job.

His speech about rats and the sinking ship was quite amusing if a little depressing.

 

[Apthorpe]

Mutualy destructive like we kick the horse and it hurts it a bit and they kick back and break our legs


2.5 years to go and JPM announce its moving 100key financial experts out of London into EU countries likely to take over EU clearance.

All EU funds clearance is currently done in the UK but obviously its daft to have Euro clearance carried out in a non EU country so we will lose it and the cost to the UK will be 9 Billion pounds in revenue streem

But hey whats 9 Billion right?

The good news is Dublin is the most likely benifactor

Brexit relocation: JPM moving hundreds of London bankers to Dublin, Frankfurt and Luxembourg - Business Insider

To put this in perspective 61 billion pounds is made in London stock exchange and this will be a cut of nearly 15% of turnover

The FInancial services sector as a whole is a huge profit making macheen for the UK with a 60 billion positive balance of trade on a total 124 billion turnover fro the UK

The banking sector alone contributed 24 billion in income tax and national insurance payments to the UK econamy, far and away the highest contributor of any sector

SO how are we going to cope with the projected loss?

Well austerity measures have already started. The Conservitives have just pulled all funding for training in Clyinical Psycolagy so anyone wishing to train in this field will have to be rich enough to self fund but willing to work for 36,000 a year once they qualifie.

Don't worry I am sure we can import trained staff from other countries.

A friend who is a senior fund development manger for one of the big three commercial banks has just had his leaving party as he moves to the UAE for his new job.

His speech about rats and the sinking ship was quite amusing if a little depressing.

The consensus opinion is that only a few mid- and back-office jobs are going to shift to the continent post-Brexit , those needed to operate a small office which will effectively be a PO Box providing the address in the EU for a "passport". The major profit-generating functions will continue to be carried out where they currently are. This will work in exactly the same way as offshore funds currently operate. Tens of thousands of funds are run from the UK and US but registered offshore in Luxembourg, Jersey, Dublin and the Caymans. Those very small jurisdictions benefit from having the funds based there, but it is not the site where the banks' profits are made nor high-earning staff are located.
The big banks and major taxpayers are not going to move to a place which doesn't have the office space, telecoms, legal or regulatory infrastructure to host them and which operates in languages they can't understand. The key people are staying in London, and that's where the skilled workforce is.
To those who think London will cease to be a major global financial centre, I'd ask "Where will take over?" From the business perspective Frankfurt is much too small, Paris is hostile and a nightmare, Dublin, Madrid and so one are non-starters and nobody can believe that it will simply evaporate and cease to exist.
You're very gloomy about this, as a Remainer might be, but aside from assuming entire industries are somehow just going to evaporate, you don't seem to consider that even if this happened large numbers of highly intelligent, motivated and hard-working people are not just going to sit around on the dole. They would undoubtedly create new businesses. Indeed, many people would argue that having so many of our brightest people spending their time banking and being lawyers is a brake on the economy as it means they are not using their talents in other industries which might benefit from them.

All we are hearing so far is pre-negotiation bluster and rhetoric - predominantly from the Continent but also here. The reports of the dinner with Juncker and his subsequent comment last week has been proven to be false. I find it a peculiarity of many Remainers that they believe that only UK politicians have the flaws we all know politicians to have, and they believe all European politicians to be great statesmen of umimpeachable probity (even the criminals).
The reality is that trade will continue, the facts are that the EU is a minority and declining share of the world economy, is in semi-permanent political crisis and is not the most optimistic vision of the future. It's worth noticing that France (Macron) has now joined the UK in demanding deep and fundamental reform of the EU or Frexit will result. This puts France where the UK was two years ago.

 

[timbrayford]

The consensus opinion is that only a few mid- and back-office jobs are going to shift to the continent post-Brexit , those needed to operate a small office which will effectively be a PO Box providing the address in the EU for a "passport". The major profit-generating functions will continue to be carried out where they currently are. This will work in exactly the same way as offshore funds currently operate. Tens of thousands of funds are run from the UK and US but registered offshore in Luxembourg, Jersey, Dublin and the Caymans. Those very small jurisdictions benefit from having the funds based there, but it is not the site where the banks' profits are made nor high-earning staff are located.
The big banks and major taxpayers are not going to move to a place which doesn't have the office space, telecoms, legal or regulatory infrastructure to host them and which operates in languages they can't understand. The key people are staying in London, and that's where the skilled workforce is.
To those who think London will cease to be a major global financial centre, I'd ask "Where will take over?" From the business perspective Frankfurt is much too small, Paris is hostile and a nightmare, Dublin, Madrid and so one are non-starters and nobody can believe that it will simply evaporate and cease to exist.
You're very gloomy about this, as a Remainer might be, but aside from assuming entire industries are somehow just going to evaporate, you don't seem to consider that even if this happened large numbers of highly intelligent, motivated and hard-working people are not just going to sit around on the dole. They would undoubtedly create new businesses. Indeed, many people would argue that having so many of our brightest people spending their time banking and being lawyers is a brake on the economy as it means they are not using their talents in other industries which might benefit from them.

All we are hearing so far is pre-negotiation bluster and rhetoric - predominantly from the Continent but also here. The reports of the dinner with Juncker and his subsequent comment last week has been proven to be false. I find it a peculiarity of many Remainers that they believe that only UK politicians have the flaws we all know politicians to have, and they believe all European politicians to be great statesmen of umimpeachable probity (even the criminals).
The reality is that trade will continue, the facts are that the EU is a minority and declining share of the world economy, is in semi-permanent political crisis and is not the most optimistic vision of the future. It's worth noticing that France (Macron) has now joined the UK in demanding deep and fundamental reform of the EU or Frexit will result. This puts France where the UK was two years ago.

The UK will always have a trading advantage over the EU as we will be able to dispense with unnecessary red tape whilst the EU will continue to embalm themselves in it, who needs straight Bananas anyway?

 

[Apthorpe]

I'm not so sure about that. The UK is pretty expert in creating unnecessary red tape. We'd be on pretty thin ice blaming the EU for that. You only need look at our byzantine tax code to see that.

 

[mchughcb]

Red tape costs many developed economies billions and stifles industry.

There are plenty of government employees who's sole job is to administer red tape to stifle industry.

 

[JTO]

I'm not so sure about that. The UK is pretty expert in creating unnecessary red tape. We'd be on pretty thin ice blaming the EU for that.

There's plenty of stories about UK officialdom 'gold-plating' EU rules/directives/laws..........

 

[tozzybum]

Junker and his cronies know it,s over but like a certain Austrian politician did will cling on to the keel even as this failed federal state of Germany oops sorry europe turns turtle .They ignore Le Penn but as Macron found out as he was booed by worker,s at a closing Whirpool factory that is being reopened in Poland the likkle people have had enough of the so called establishment and their ways.
Imagine what will happen if the French get their vote out Frexit mm bye bye Aunty Merkel back to the drawing board oh and i want to buy a POUND of curved bananas

 

[enfieldspares]

One of the funniest moments in yesterday's French Presidential debate was from Marine Le Pen.

"Whoever wins on Sunday, Mr Macron, it'll be a woman running France. Either me, (Marine Le Pen) if I win or, if you win, (Monsieur Macron) it'll be Angela Merkel".

 

[finnbear270]

So glad I wasn't raising a glass right there!

 

[sikamalc]

God what did we do in this country and how ever did we survive two world wars and remain outside the EU before we joined the then Common Market, before it was turned into the EU? And all the parasites that are paid fat cat salaries for doing very little in their plush offices moved in and started leading us up the path.

I can only guess .

 

[enfieldspares]

Commonwealth, Empire, Dominions is why!

Countries that deferred to us and importantly that bought our rubbish British Motor Corporation and Rootes Group cars.

Plus all the GOOD stuff that did come out of Glasgow and Birmingham.

Now we, or rather Ted Heath, threw that in their faces in 1971. And now Japan, India, China and the USA fills those markets.

And of course we closed the door to the Commonwealth as a source of incoming skills and talent and, in my case, spouses.

Now I'd love to get that back. All of it. Common heritage, shared history, common language.

But in truth SM that boat sailed in 1971 and we won't get in back. These countries have developed their own trade and won't give use any special advantages.

In addition from what I read Theresa May has already been told TWICE by India and by Australia that is she expects a "one way street" she won't get it.

In clear terms it is that if she wants free trade in goods to those countries she'd better be willing to accept free movement of people from those countries.

It'd be great to turn the clock back. But just as for the French history didn't stop in 1914 so, for the UK, it didn't stop in 1971.

Now if the French decide to "Frexit" everything is all changed...

 

[Pine Marten]

Now if the French decide to "Frexit" everything is all changed...

Not happening. Not this time anyway. We've been working on it. I'm not having this nonsense on my watch twice in twelve months. Not that I'm complacent about the work yet to be done. But be careful of looking at the French election through a Brexit lenses. Marine Le Pen in not a normal politician, her party not a normal party. They are the political descendants of the Vichy government, a horrible bunch of convicted holocaust deniers, racists and borderline fascists. And I don't mean that in the handwringing liberal sense of people who don't agree with me. She had to sack the temporary president if the FN after 24hrs when a video emerged if him denying the holocaust on TV. Her father has been convicted numerous times.

Also, all their plans are nonsense. It's a big con fit all the poor people who have given them their protest vote. The protest is legitimate. The FN is not.

 

[Druid]

Not happening. Not this time anyway. We've been working on it. I'm not having this nonsense on my watch twice in twelve months. Not that I'm complacent about the work yet to be done. But be careful of looking at the French election through a Brexit lenses. Marine Le Pen in not a normal politician, her party not a normal party. They are the political descendants of the Vichy government, a horrible bunch of convicted holocaust deniers, racists and borderline fascists. And I don't mean that in the handwringing liberal sense of people who don't agree with me. She had to sack the temporary president if the FN after 24hrs when a video emerged if him denying the holocaust on TV. Her father has been convicted numerous times.

Also, all their plans are nonsense. It's a big con fit all the poor people who have given them their protest vote. The protest is legitimate. The FN is not.

interesting to hear that, thanks

 

[Apthorpe]

Not happening. Not this time anyway. We've been working on it. I'm not having this nonsense on my watch twice in twelve months. Not that I'm complacent about the work yet to be done. But be careful of looking at the French election through a Brexit lenses. Marine Le Pen in not a normal politician, her party not a normal party. They are the political descendants of the Vichy government, a horrible bunch of convicted holocaust deniers, racists and borderline fascists. And I don't mean that in the handwringing liberal sense of people who don't agree with me. She had to sack the temporary president if the FN after 24hrs when a video emerged if him denying the holocaust on TV. Her father has been convicted numerous times.

Also, all their plans are nonsense. It's a big con fit all the poor people who have given them their protest vote. The protest is legitimate. The FN is not.

Again, good background. But with Macron touting a possible Frexit ...

 

[Pine Marten]

Again, good background. But with Macron touting a possible Frexit ...

The way his statement to the BBC has been reported misses the context. He has no intention whatsoever of doing this. What he's saying is that if he doesn't get a chance to sort France and Europe out, then people like Marine Le Pen could take over, and THAT could lead to Frexit. Macron is passionately pro-European, but also fully aware that the EU needs to change focus. But that can't happen unless France starts seriously sorting itself out so that it regains the credibility and clout to one again be an equal partner with Germany.

 

[NigelM]

Not happening. Not this time anyway. We've been working on it. I'm not having this nonsense on my watch twice in twelve months. Not that I'm complacent about the work yet to be done. But be careful of looking at the French election through a Brexit lenses. Marine Le Pen in not a normal politician, her party not a normal party. They are the political descendants of the Vichy government, a horrible bunch of convicted holocaust deniers, racists and borderline fascists. And I don't mean that in the handwringing liberal sense of people who don't agree with me. She had to sack the temporary president if the FN after 24hrs when a video emerged if him denying the holocaust on TV. Her father has been convicted numerous times.

Also, all their plans are nonsense. It's a big con fit all the poor people who have given them their protest vote. The protest is legitimate. The FN is not.

I had a similar conversation last night with a Frenchman. Whilst Le Pen has got through to the 2nd round her chances of winning are minimal. The French like a good protest but with the baggage she brings with her from her fathers era there are just too many who cannot bring themselves to vote for her.

However, the Americans voted for Trump and we voted for Brexit, so I will not be putting money down in either direction. Queerer things have happened in the past 12 months.

 

[2130martin]

Mutualy destructive like we kick the horse and it hurts it a bit and they kick back and break our legs


2.5 years to go and JPM announce its moving 100key financial experts out of London into EU countries likely to take over EU clearance.

All EU funds clearance is currently done in the UK but obviously its daft to have Euro clearance carried out in a non EU country so we will lose it and the cost to the UK will be 9 Billion pounds in revenue streem

But hey whats 9 Billion right?

The good news is Dublin is the most likely benifactor

Brexit relocation: JPM moving hundreds of London bankers to Dublin, Frankfurt and Luxembourg - Business Insider

To put this in perspective 61 billion pounds is made in London stock exchange and this will be a cut of nearly 15% of turnover

The FInancial services sector as a whole is a huge profit making macheen for the UK with a 60 billion positive balance of trade on a total 124 billion turnover fro the UK

The banking sector alone contributed 24 billion in income tax and national insurance payments to the UK econamy, far and away the highest contributor of any sector

SO how are we going to cope with the projected loss?

Well austerity measures have already started. The Conservitives have just pulled all funding for training in Clyinical Psycolagy so anyone wishing to train in this field will have to be rich enough to self fund but willing to work for 36,000 a year once they qualifie.

Don't worry I am sure we can import trained staff from other countries.

A friend who is a senior fund development manger for one of the big three commercial banks has just had his leaving party as he moves to the UAE for his new job.

His speech about rats and the sinking ship was quite amusing if a little depressing.

Seems we are doomed!!!