Is the end nigh for the Euro? [vol. 3]
Discussion
Walford said:
fido said:
RYH64E said:
With obvious consequences for UK manufacturers should we find ourselves on the outside of said huge market.
False comparison. We are not in the Euro - thank goodness for that.Timmy40 said:
It's also a false threat, do you really think for a split second that the EU core economies would want to lock themselves out of what is a huge export market for them ( the UK ) by closing export relations with us?
The "they can't afford to lose us" argument is nonsense.Question: "Can UK afford to lose their financial services business?". If you've seen today's GDP figures you'll know that it's just about the sole driver of UK economy these days.
Claudia Skies said:
Timmy40 said:
It's also a false threat, do you really think for a split second that the EU core economies would want to lock themselves out of what is a huge export market for them ( the UK ) by closing export relations with us?
The "they can't afford to lose us" argument is nonsense.Question: "Can UK afford to lose their financial services business?". If you've seen today's GDP figures you'll know that it's just about the sole driver of UK economy these days.
If they pull out the Chinese will move in. Would that be OK with them?
arguti said:
fido said:
Yes the Greeks need to buy cars from someone - but I'm thinking perhaps Nissan Micras, Ford Fiestas and some cheapo French rubbish is more suited to their income level. The last time I visited Greece (mid-naughties) I was surprised by the number of high end BMWs around the place - more than the poverty stricken part of SW London where I reside.
Remember this article http://blogs.telegraph.co.uk/finance/ianmcowie/100...
Or just click here.
http://skeptics.stackexchange.com/questions/6881/a...
Sad, it was a nice concept ...
Claudia Skies said:
Timmy40 said:
It's also a false threat, do you really think for a split second that the EU core economies would want to lock themselves out of what is a huge export market for them ( the UK ) by closing export relations with us?
The "they can't afford to lose us" argument is nonsense.Question: "Can UK afford to lose their financial services business?". If you've seen today's GDP figures you'll know that it's just about the sole driver of UK economy these days.
2) Actually it's far more balanced across the UK than people think. Of late manufacturing has done rather well.
Germany are not the good guys in this mess. Their manufacturing industry has done rather nicely out of the Greek debt crisis.
Greek military spending as a percentage of GDP has been higher than Germany, France or the UK in the last four years..
http://data.worldbank.org/indicator/MS.MIL.XPND.GD...
Some of the kit wasn't quite as good as they expected though...
http://www.telegraph.co.uk/news/worldnews/10895239...
Greek military spending as a percentage of GDP has been higher than Germany, France or the UK in the last four years..
http://data.worldbank.org/indicator/MS.MIL.XPND.GD...
Some of the kit wasn't quite as good as they expected though...
http://www.telegraph.co.uk/news/worldnews/10895239...
RYH64E said:
Timmy40 said:
1) it's a global business, are you actually suggesting EU economies would choose to lock themselves out of the financial markets by refusing to pass transactions through London? Yeah right.
There'll be a huge push to make Frankfurt the new London imo.RYH64E said:
Timmy40 said:
1) it's a global business, are you actually suggesting EU economies would choose to lock themselves out of the financial markets by refusing to pass transactions through London? Yeah right.
There'll be a huge push to make Frankfurt the new London imo.Timmy40 said:
LOL, they've been desperately trying to do that for the past 20 years and during that time Frankfurts position has if anything declined. Do you think the French and Germans have just sat there happily letting London dominate over Paris and Frankfurt? When I started in the City in 1995 there was still serious talk of those two as rivals ( even challengers ) to Londons position. No one seriosuly thinks that anymore.
Some still take it seriously, Cohn at Goldman Sachs for one. The EU is notoriously protective, I can think of no good reason why they wouldn't take the necessary steps to encourage global financial institutions to base their European headquarters in the EU rather than on a small island just off the coast of Europe.Axionknight said:
Aye with all their talk of financial transaction taxes folk will be queueing up to do business.
The people who are desperate to stay in should pay the bill, then I would have no problem with it, but its the exact opposite, my brother has a small business, I am surprised how little tax he pays (legally ) perhaps we should ask them if they want to stay in and are they ready for the bill.RYH64E said:
Timmy40 said:
LOL, they've been desperately trying to do that for the past 20 years and during that time Frankfurts position has if anything declined. Do you think the French and Germans have just sat there happily letting London dominate over Paris and Frankfurt? When I started in the City in 1995 there was still serious talk of those two as rivals ( even challengers ) to Londons position. No one seriosuly thinks that anymore.
Some still take it seriously, Cohn at Goldman Sachs for one. The EU is notoriously protective, I can think of no good reason why they wouldn't take the necessary steps to encourage global financial institutions to base their European headquarters in the EU rather than on a small island just off the coast of Europe.So is we leave the EU without remaining in the EEA or joining EFTA all UK financial institutions would need to set up new European headquarters within the EU/EEA/EFTA.
PRTVR said:
The people who are desperate to stay in should pay the bill, then I would have no problem with it, but its the exact opposite, my brother has a small business, I am surprised how little tax he pays (legally ) perhaps we should ask them if they want to stay in and are they ready for the bill.
I run a small business and pay shed loads of tax, if there's a way to avoid it legally then nobody's let me in on the secret. It could be argued that my tax bill should be higher than it is as I avoid what I can, but the combined total of Corporation Tax/Business Rates/Employers NI/personal PAYE & NI etc adds up to more than £200k per year, so I feel comfortable that I'm paying my share of the costs of EU membership.RYH64E said:
PRTVR said:
The people who are desperate to stay in should pay the bill, then I would have no problem with it, but its the exact opposite, my brother has a small business, I am surprised how little tax he pays (legally ) perhaps we should ask them if they want to stay in and are they ready for the bill.
I run a small business and pay shed loads of tax, if there's a way to avoid it legally then nobody's let me in on the secret. It could be argued that my tax bill should be higher than it is as I avoid what I can, but the combined total of Corporation Tax/Business Rates/Employers NI/personal PAYE & NI etc adds up to more than £200k per year, so I feel comfortable that I'm paying my share of the costs of EU membership.RYH64E said:
Timmy40 said:
LOL, they've been desperately trying to do that for the past 20 years and during that time Frankfurts position has if anything declined. Do you think the French and Germans have just sat there happily letting London dominate over Paris and Frankfurt? When I started in the City in 1995 there was still serious talk of those two as rivals ( even challengers ) to Londons position. No one seriosuly thinks that anymore.
Some still take it seriously, Cohn at Goldman Sachs for one. The EU is notoriously protective, I can think of no good reason why they wouldn't take the necessary steps to encourage global financial institutions to base their European headquarters in the EU rather than on a small island just off the coast of Europe.Small Island? It's a small Island with a comprable GDP to both France and Germany, neither of which I think would describe themselves as small or insiginificant.
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