Off Topic EU deabte. Which way are you voting ?

I can't read the article, the last similar one I read turned out to be sod all to do with the vote and another was just plain wrong, but you help make my point. IF anything changes, it's a long way down the line yet, so it's all premature.

 

No great surprise that it's happening, but the speed of it is somewhat alarming!

TBH, I don't think the big banks will desert London completely, but yes, thousands of jobs could very easily go!..

 

The US banks have been preparing for a possible exit - "Many of the US banks have been quietly bulking up European entities outside the UK, allowing them to transfer some activities quite quickly."

You can't blame them, they will go where it makes best business sense for them to be. If that means laying off thousands of support staff in the UK then it doesn't mean squat to them and quite frankly the electorate voted for it.

If the financial institutions start to withdraw from the UK then the economy will absolutely tank.

 

You just have to answer a couple of questions on their poll to read the article, which does nothing to help you make your point. In fact it completely contradicts it

The first line of the article :

'Banks have already begun to take action shift operations out of the UK'

 

They were planning to move about 8,000 jobs a year ago.

 

The ones here can stay, thats fine

 

**** off...im fasting...and i eat what i want...Pizza tonight.

 

Boris has said that more will still be coming. Sorry fella but you voted for a lie that couldn't be fulfilled even if it was a truth. You voted for a man who isn't even an MP let alone a member of HM government.

 

thanks for that Joseph.

 

They 'began' to do that a year or two back, so it's a stretch to blame it all on the vote. It could end up better of here depending on the deal that can be brokered.

I was more referring to the finance houses/stock markets, as they're the ones flapping when nothing has changed yet. They saw an opportunity to make money and increase their sphere of influence.

 

Their main worry is whether they will be able to sell financial products in the EU from a non EU country. That will need to be decided, but it's uncertainty and they don't like it one little bit.

First hint of trouble between the UK and the EU and they'll be off like a shot!..

 

Sorry mate, but it sounds like you're burying your head in the sand. The banks looking to relocate some of their operations are doing so on the back of the Brexit vote.

The big US banks - JP morgan Chase, Goldman Sachs, Bank of America, Citigroup and Morgan Stanley - have huge operations employing tens of thousands of people in the UK. The have historically set up their regulated businesses in Britain and then used its right to 'passport' into the rest of the 28 member-bloc. But their lawyers are warning that after Brexit, they would likely need a new legal home base, so they are preparing to shift at least some work to cities such as Dublin, Paris and Frankfurt.

Same for some UK banks too that trade in EU rather than UK securities, now that we have voted for Brexit, they will lose their 'passporting' rights to operate in the EU and would have to relocate to cities within the EU.

 

In my best Farage impression - "so what?"

 

Unless of course we negotiate free access to the common market as part of our exit in which case nothing will change in the city.

 

But you will have to leave

 

Nope, I read that too. Nothing has changed, and won't for a long while yet, and could be the same or better, yet the markets flap.

Looking at some of the hysterical types on here that claim a background in these areas, I guess we shouldn't be surprised.

 

Not everything revolves around banks by the way

 

Do you honestly think that the EU will give us free and full access to the single market ?

 

If they don't change, it won't be much longer before there's no EU to dictate anything.

 

Yes, I think it's highly likely a deal will be done that continues our access to the common market, most likely we will compromise on free movement of labour and potentially a small financial settlement.