Bloodbath in the City

[AtW]

The City will shudder at Brussels' strong-arm tactics with Switzerland

The European Union’s threat to freeze out Swiss stock exchanges from the bloc’s single market will have confirmed the worst fears of the City of London about the future after Brexit.

Switzerland, which is not a member of the EU, has a system of regulatory recognition with Brussels called “equivalence”.

Simply put, the granting of equivalence to a non-EU country is a temporary recognition that its rules are as strict as Brussels and gives access to its markets.

Crucially equivalence lies entirely in the gift of the European Commission, the EU’s civil service, and can be withdrawn at short notice with no right of appeal.

Source: ToryScumGraph

[meridian]

Switzerland should just take the EU to the WTO under GATT Art XXIV, that’ll show them

[Old Greg]

Switzerland should just take the EU to the WTO under GATT Art XXIV, that’ll show them

Or retool their financial services industry into jam, tea and biscuit production.

[AtW]

Or retool their financial services industry into chocolate, guns and cuckoo clock production.

FTFY

[Zigenare]

Or retool their financial services industry into chocolate, guns, aircraft, pharma, electronics, watches, vehicles, precision instruments and cuckoo clock production.

ftfy. Oops, they're already major worldwide exporters of those goods.

[jamesbrown]

Or retool their financial services industry into jam, tea and biscuit production.

They’re also perfectly located to support the booming demand for comfort blankets, bedtime stories and No More Tears shampoo among our expatriate community.

[BR14]

'Or retool their financial services industry into chocolate, guns, aircraft, pharma, electronics, watches, vehicles, precision instruments and cuckoo clock production.'

cuckoo clocks are more bavaria, really.

and you forgot glass bellybuttons.

the swiss need them to see where they're going

[vetran]

'Or retool their financial services industry into chocolate, guns, aircraft, pharma, electronics, watches, vehicles, precision instruments and cuckoo clock production.'

cuckoo clocks are more bavaria, really.

and you forgot glass bellybuttons.

the swiss need them to see where they're going

whereas our expat remainers need arse trumpets so they can be heard when speaking.

[Mordac]

FTFY

Cuckoo clocks are a German invention, dummkopf...

[NotAllThere]

Source: ToryScumGraph

Unrestricted source.