Consequences of Brexit [part 7] Read first post before posting

[Tony 10]

1 hour ago, ez8004 said:

So what can the U.K. do in retaliation? Oh yes, we’ll cut off the financial services the EU is already moving to continental Europe. Oh right. About that 🤨

Without taking sides, this misunderstood point needs picking up on.

 

The volume of financial services trade that is moving to the EU 27 is insignificant in real terms, and where it is happening it is largely about corporate domicile issues rather than financial services. The capacity of the FS industries in Frankfurt, the only EU27 location capable of any real competition, is put into perspective when we consider that as a city it is just a little larger than Sheffield - there are more people working in FS in London than live in Frankfurt . It should also be remembered that over 80% of EU27 corporate medium / long term debt is underwritten in the City of London, and this is something that is not something that can be easily changed even if there was a reason to. 

 

Financial services moving to continental Europe isn't an argument to stand ground on. 

[Car Boot 10]

16 hours ago, Dardandec said:

Do you think that homelessness will improve after we leave the EU, or do you think it will get worse?

Unless we elect a progressive government, homelessness will continue to get worse, as it has done under our EU membership.

 

The EU cares about the four freedoms for business, to maximise profit.

 

It doesn't care about the freedom for people to have a roof over their head.

[Magilla 510]

3 hours ago, retep said:

How about it,

"Europe sets up Iran trade mechanism to bypass US sanctions"

https://www.france24.com/en/20190201-europe-eu-sets-iran-trade-mechanism-bypass-usa-sanctions-instex

*After* the original sanctions worked and produced the Iran nuclear deal. D'oh!

[ez8004 10]

31 minutes ago, Tony said:

Without taking sides, this misunderstood point needs picking up on.

 

The volume of financial services trade that is moving to the EU 27 is insignificant in real terms, and where it is happening it is largely about corporate domicile issues rather than financial services. The capacity of the FS industries in Frankfurt, the only EU27 location capable of any real competition, is put into perspective when we consider that as a city it is just a little larger than Sheffield - there are more people working in FS in London than live in Frankfurt . It should also be remembered that over 80% of EU27 corporate medium / long term debt is underwritten in the City of London, and this is something that is not something that can be easily changed even if there was a reason to. 

 

Financial services moving to continental Europe isn't an argument to stand ground on. 

You need more educating. 

 

The London Clearing House which is responsible for over 900 Billion Euros PER DAY of transactions is what is at risk. The European Central Bank in 2011 tried to take control of clearing of Euro denominated transactions from London. But the LSE defence hinged on the fact that it would discriminate no-euro EU countries. Guess what, we can’t use that defence anymore once we leave and all that business leaves. How much is 900 billion euros per day in the grand scheme of things? THREE QUARTERS of the GLOBAL market for these transactions. The LSE absolutely own this. But they risk losing it all. 

[Tony 10]

Then you mean daily clearing, not "financial services". We can only work with what you write, not what you imagine. 

 

AAUI around a quarter of daily clearing is expected to move. People will have their own thoughts on what that means in reality to the long term UK economy as a whole, when Deutsche Bank et al move their short term business because of the corporate domicile reasons I cited above. 

 

Meantime, I will consider myself educated.

[ads36 217]

1 hour ago, Car Boot said:

Being a member state certainly hasn't prevented these things from happening

It’s almost as if we’re free to govern ourselves while trapped within the evil eu dictatorship...

[melthebell 863]

1 hour ago, Car Boot said:

All the terrible things that you mention - such as people not being able to afford houses, rent and food. People being thrown onto the streets. All these things are happening NOW while we have our EU membership. Being a member state certainly hasn't prevented these things from happening over the last 45 years. Why do you believe that keeping our EU membership will prevent them happening in the future?

 

There is only one institution which has, historically, been able to most effectively help the poor in society - the democratic state. Read about it. The EU is not a democratic institution. It is a network of national governments who have deliberately retreated from their own populations so that they can make closed, secretive agreements among themselves.

But voting to possibly make these things worse, including Yourself is the height of stupidity, even if they already happen.

[retep 68]

49 minutes ago, Magilla said:

*After* the original sanctions worked and produced the Iran nuclear deal. D'oh!

So now it's business as usual as I stated earlier.

[Magilla 510]

1 hour ago, retep said:

So now it's business as usual as I stated earlier.

No,... it isn't, clearly

 

[Dardandec 32]

5 hours ago, Car Boot said:

Unless we elect a progressive government, homelessness will continue to get worse, as it has done under our EU membership.

 

The EU cares about the four freedoms for business, to maximise profit.

 

It doesn't care about the freedom for people to have a roof over their head.

You do know a lot of homelessness is caused by mental health issues, also substance and alcohol abuse? is that the EU's fault? 

[retep 68]

2 hours ago, Magilla said:

No,... it isn't, clearly

 

Is Iran doing business?

[Magilla 510]

50 minutes ago, retep said:

Is Iran doing business?

Is Iran doing the same amount of business as it was under global sanctions?