Reply to: Brexit DOOM™: Bloodbath in the City

[AtW]

It's fairly clear that the EU will offer a deal on goods and agriculture and completely ignore services.

[BlasterBates]

JP Morgan is going to move a sizeable number of jobs, most probably to Dublin. It's in negotitations for a building there. That's a fact.

Price worth paying for what will be a token gesture on the freedom of movement.

It's fairly clear that the EU will offer a deal on goods and agriculture and completely ignore services. For the goods they'ŕe going to demand preferential access for EU immigrants.

So basically the UK will end up shut out on services and they'll keep bits of their car industry and there will still be 100'000's of migrants from the EU flooding in.

It really is totally pathetic.

[shaunbhoy]

History is rife with situations where good sense did not prevail.

YOUR history is, but you are hardly a benchmark for anything that cannot reasonably be labelled as slapstick.

[sasguru]

JP Morgan is going to move a sizeable number of jobs, most probably to Dublin. It's in negotitations for a building there. That's a fact.

[The_Equalizer]

I am Spartacus.

And I'm tired and grumpy! Please ignore the previous comment if it sounded a little short.

[AtW]

Are you SAS by any chance? I thought the jobs were moving. Moreover, it's London. It's not as if there's a shortage of work should people wish to stay.

I am Spartacus.

[The_Equalizer]

Not OTT for those who'll lose their jobs!

Are you SAS by any chance? I thought the jobs were moving. Moreover, it's London. It's not as if there's a shortage of work should people wish to stay.

[AtW]

AtW's 'bloodbath' might be a bit OTT though.

Not OTT for those who'll lose their jobs!

[The_Equalizer]

Why should good sense prevail? History is rife with situations where good sense did not prevail.

Perhaps you should go and ask David Buik?

[sasguru]

I always find David Buik's thoughts worth a look:

David Buik

Admittedly for Brexit, he did have this to say:

"In closing BREXIT is a total red-herring. London is the most influential centre in Europe by far in terms of trading and M&A activity and having spent 70 years building infrastructure it is not going to be allowed to be usurped by Frankfurt, Paris, Dublin or anywhere else. Negotiations will be fierce over ‘passporting’ but good sense has to prevail, however painful. London is pre-eminent at financial services – fact. Some banks may move staff for a year or so. They will return. Why? London is where it is at. Not arrogance but fact!

Will there be another replication of the 2008 banking crisis? One hopes not. However it’s the bond market that concerns me. Is the regulation of large bond operators draconian enough?"

I guess time will tell.

Why should good sense prevail? History is rife with situations where good sense did not prevail.

[The_Equalizer]

A bit of strawmanning I think. Has anyone said Dublin will usurp London?

But it is about numbers of jobs moving and new investment decisions. Each 1,000 jobs lost means a loss to the economy not just of those jobs but service sector jobs etc. - you know the drill.

Indeed, but the number of jobs isn't fixed. Good luck to Dublin if it can pick up some business. AtW's 'bloodbath' might be a bit OTT though.

[northernladyuk]

I always find David Buik's thoughts worth a look:

David Buik

Admittedly for Brexit, he did have this to say:

"In closing BREXIT is a total red-herring. London is the most influential centre in Europe by far in terms of trading and M&A activity and having spent 70 years building infrastructure it is not going to be allowed to be usurped by Frankfurt, Paris, Dublin or anywhere else. Negotiations will be fierce over ‘passporting’ but good sense has to prevail, however painful. London is pre-eminent at financial services – fact. Some banks may move staff for a year or so. They will return. Why? London is where it is at. Not arrogance but fact!

Will there be another replication of the 2008 banking crisis? One hopes not. However it’s the bond market that concerns me. Is the regulation of large bond operators draconian enough?"

I guess time will tell.

A bit of strawmanning I think. Has anyone said Dublin will usurp London?

But it is about numbers of jobs moving and new investment decisions. Each 1,000 jobs lost means a loss to the economy not just of those jobs but service sector jobs etc. - you know the drill.

[The_Equalizer]

There's a fair amount of optimism in Dublin that some of this business will be picked up, but there are some real infrastructure / housing problems so the fear is that otherwise winnable opportunities will be lost to Frankfurt etc. Oddly, there doesn't seem to be any fear that it's all a load of rot and jobs will stay in London.

I always find David Buik's thoughts worth a look:

David Buik

Admittedly for Brexit, he did have this to say:

"In closing BREXIT is a total red-herring. London is the most influential centre in Europe by far in terms of trading and M&A activity and having spent 70 years building infrastructure it is not going to be allowed to be usurped by Frankfurt, Paris, Dublin or anywhere else. Negotiations will be fierce over ‘passporting’ but good sense has to prevail, however painful. London is pre-eminent at financial services – fact. Some banks may move staff for a year or so. They will return. Why? London is where it is at. Not arrogance but fact!

Will there be another replication of the 2008 banking crisis? One hopes not. However it’s the bond market that concerns me. Is the regulation of large bond operators draconian enough?"

I guess time will tell.

[northernladyuk]

It's a bit of a classic as I've never thought The Guardian as a champion for City jobs.

Brexit Pravda this way if you prefer talking the economy up: Benefits of Brexit will outweigh the loss of a small number of City jobs

Tractor production is also at record highs.

[northernladyuk]

There's a fair amount of optimism in Dublin that some of this business will be picked up, but there are some real infrastructure / housing problems so the fear is that otherwise winnable opportunities will be lost to Frankfurt etc. Oddly, there doesn't seem to be any fear that it's all a load of rot and jobs will stay in London.