[Merged]Brexit stuff (part 2)

[GB9]

Onviously the banks have yet to decide how much they'll relocate, but it is unlikely that the EU regulations will allow them simply to bypass them and set up token offices. These will be sizeable operations. Fintech invstement is already shifting to the EU.

Yeah, good luck with that.

Actually, what EU regs do you think they would be bypassing exactly?

[vetran]

Onviously the banks have yet to decide how much they'll relocate, but it is unlikely that the EU regulations will allow them simply to bypass them and set up token offices. These will be sizeable operations. Fintech invstement is already shifting to the EU.

what an office in Ireland, Denmark & Switzerland sharing a fax machine with 100 other businesses no would never happen....

[LondonManc]

Brexit: Banks in 'advanced talks' over mass move to Paris, says French regulator | The Independent

Looks like a big move of banks from London to Paris is on the cards.

But we get Maccies so WGAS?

McDonald's to move non-US tax base to UK - BBC News

[BlasterBates]

Yeah, good luck with that.

Actually, what EU regs do you think they would be bypassing exactly?

Quite simply that companies will need to trade with banks that are supervised by financial regulator located in the EU.

You think a supervisory body is simply going to grant licences to any bank with a "brass plate" outside it's office in the EU.

[GB9]

Quite simply that companies will need to trade with banks that are supervised by financial regulator located in the EU.

You think a supervisory body is simply going to grant licences to any bank with a "brass plate" outside it's office in the EU.

Ermmm. Yes. They may have a few staff for some documentation but that's pretty much what they have said they will do.

Are you expecting thousands upon thousands of people to up and leave the UK? Won't happen.

[BlasterBates]

Ermmm. Yes. They may have a few staff for some documentation but that's pretty much what they have said they will do.

Are you expecting thousands upon thousands of people to up and leave the UK? Won't happen.

absolutely

70,000 jobs at risk in the City

[LondonManc]

absolutely

70,000 jobs at risk in the City

There will therefore be a brexit trade arrangement. Simples.

[GB9]

absolutely

70,000 jobs at risk in the City

Is that what you are basing your thinking on?

What do you actually do for a living as you haven't a clue about banking.

Try reading some of the proper news feeds for what is actually happening. Go and research Citigroup and ING as a start.

[Paddy]

But we get Maccies so WGAS?

McDonald's to move non-US tax base to UK - BBC News

absolutely

70,000 jobs at risk in the City

70000 jobs move from the City to McDonal's with a pay reduction

[GB9]

70000 jobs move from the City to McDonal's with a pay reduction

And where do they find the skilled resource overseas to do the work.

This has been discussed time and again on financial news sites. Throwing up a 3 month old speculative article as evidence is feeble.