• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
  • Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

[Merged]Brexit stuff

Collapse
This topic is closed.
X
X
Collapse
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

    Originally posted by Chuck View Post
    I don't see Frankfurt as a challenger to London, nobody would want to move there. Paris on the other hand, could be a great draw for people used to a job for life, and expecting a high quality of life. Whether the banks would want to subject themselves to ludicrous French labour laws though remains to be seen.

    I don't see a single bank actually leaving London. They may redomicile HQs, or open branch offices, where necessary. I don't see them moving en-masse to the EU though. If they go, they'll go to Asia or the US.

    We have the extraordinarily good fortune of language, time zone, and expertise.
    Companies will be falling over each other to set up in France

    https://www.quora.com/Is-it-true-tha...eone-in-France
    Let us not forget EU open doors immigration benefits IT contractors more than anyone

    Comment


      Originally posted by BlasterBates View Post
      regulatory requirements of having to clear trades.
      Oh, please do elaborate. What regulatory requirements might they be? Would they be the same regulations that govern Euro clearing in the US, for example? Are you suggesting a new, regionally-oriented, protectionist policy towards Euro swaps? Seriously, I think you read the headlines and understand very little of what you regurgitate here. You're unable to distinguish between sabre rattling in France and Germany and financial reality. The idea that Paris or Frankfurt can reverse engineer London's regional or global supremacy in financial services is utterly laughable. Worst case scenario, London loses a few thousand jobs in rather specialist areas (mainly to NY, as others have posted), but there are also opportunities from being outside of the regulatory environment of the single market.

      Comment


        Originally posted by jamesbrown View Post
        Oh, please do elaborate. What regulatory requirements might they be? Would they be the same regulations that govern Euro clearing in the US, for example? Are you suggesting a new, regionally-oriented, protectionist policy towards Euro swaps? Seriously, I think you read the headlines and understand very little of what you regurgitate here. You're unable to distinguish between sabre rattling in France and Germany and financial reality. The idea that Paris or Frankfurt can reverse engineer London's regional or global supremacy in financial services is utterly laughable. Worst case scenario, London loses a few thousand jobs in rather specialist areas (mainly to NY, as others have posted), but there are also opportunities from being outside of the regulatory environment of the single market.
        What is fascinating about remainers is they think that the EU cannot be changed and that the UK cannot change by leaving yet they believe the banking system can over night be uprooted, changed and moved elsewhere "just like that"
        Let us not forget EU open doors immigration benefits IT contractors more than anyone

        Comment


          Originally posted by jamesbrown View Post
          Oh, please do elaborate. What regulatory requirements might they be?
          It might take a bit of time but I'm sure you'll figure it out in the end.

          I'm alright Jack

          Comment


            Originally posted by BlasterBates View Post
            It might take a bit of time but I'm sure you'll figure it out in the end.

            Feel free to not dig yourself out.

            Comment


              Originally posted by DodgyAgent View Post
              What is fascinating about remainers is they think that the EU cannot be changed and that the UK cannot change by leaving yet they believe the banking system can over night be uprooted, changed and moved elsewhere "just like that"
              Dungeonmaster syndrome. "I reject your reality and substitute my own!"

              Comment


                Originally posted by jamesbrown View Post
                Feel free to not dig yourself out.

                I'll give you a hint:

                The Markets in Financial Derivatives Directive

                That's just one of them. Let me know when you've understood it.

                I'm alright Jack

                Comment


                  Originally posted by BlasterBates View Post
                  I'll give you a hint:

                  The Markets in Financial Derivatives Directive

                  That's just one of them. Let me know when you've understood it.

                  Oh, this should be fun. Please explain how the regulation of derivatives poses a threat to the UK outside the EU unless the EU is planning to adopt a regional protectionist policy towards the U.K. only. How might they limit the fallout from that? The EC and CFTC came to an agreement only a few months ago! Do you actually understand the difference between equivalence and passporting?

                  Comment


                    Originally posted by jamesbrown View Post
                    Oh, this should be fun. Please explain how the regulation of derivatives poses a threat to the UK outside the EU unless the EU is planning to adopt a regional protectionist policy towards the U.K. only. How might they limit the fallout from that? The EC and CFTC came to an agreement only a few months ago! Do you actually understand the difference between equivalence and passporting?
                    yup indeed....

                    Equivalence - Cold Comfort

                    What makes you think Equivalence will be granted without a lot of grovelling ?

                    I'm alright Jack

                    Comment


                      Originally posted by BlasterBates View Post

                      What makes you think Equivalence will be granted without a lot of grovelling ?
                      Pragmatism. All trade is ultimately a compromise that is of mutual benefit to both sides. So despite a lot of sabre-rattling in order to try and gain some notional leverage, in the final analysis as both sides have cards to play, an agreement WILL be reached that both sides are happy with.
                      Tis how the world works.

                      HTH

                      “The period of the disintegration of the European Union has begun. And the first vessel to have departed is Britain”

                      Comment

                      Working...
                      X