The 'No to the EU' campaign
Discussion
Christ, ajd, how many times do you have to be told?
Almost all financial service businsses have Euro denominated EU subsidiaries, including regulated entities where relevant. If they haven't, they aren't run very well, and will very quickly do so on Brexit. Passporting is a complete red herring.
///ajd said:
Two issues:
1. You assume UK will have less regulation, but infact the opposite could well be true. Our H&S laws make many practices in the EU look reckless. In any case, many regulations are supported and even pushed by the UK. As I was accused of earlier - you are in dreamland to think otherwise. Who has one of the lowest motorway speed limits in the EU? (our safety record is excellent, but it makes a point, whether we as I assume petrolheads agree with it or not, the UK loves cotton wool regulation).
2. The example I gave earlier related to passporting financial services - depending on the brexit plan, these maybe forced to relocate to within the EU (i.e. outside the UK). If there was a coherent brexit plan, we could discuss the likelihood of this happening. Under flexcit it may not happen immediately, but under the more aggressive plans, it could well occur quite quickly. Of course in brexit dreamland, we will immediately secure a veto on the four freedoms (blocking immigration etc.), whilst preserving all our access to the EU trade zone (protecting our services perhaps), and pay nothing! Should be a piece of cake, seeing how it is so easy for the UK to push around the 28 other EU member nations to get them to do exactly what we want. Oh.....
Could,might,if,maybe,that's all I see.1. You assume UK will have less regulation, but infact the opposite could well be true. Our H&S laws make many practices in the EU look reckless. In any case, many regulations are supported and even pushed by the UK. As I was accused of earlier - you are in dreamland to think otherwise. Who has one of the lowest motorway speed limits in the EU? (our safety record is excellent, but it makes a point, whether we as I assume petrolheads agree with it or not, the UK loves cotton wool regulation).
2. The example I gave earlier related to passporting financial services - depending on the brexit plan, these maybe forced to relocate to within the EU (i.e. outside the UK). If there was a coherent brexit plan, we could discuss the likelihood of this happening. Under flexcit it may not happen immediately, but under the more aggressive plans, it could well occur quite quickly. Of course in brexit dreamland, we will immediately secure a veto on the four freedoms (blocking immigration etc.), whilst preserving all our access to the EU trade zone (protecting our services perhaps), and pay nothing! Should be a piece of cake, seeing how it is so easy for the UK to push around the 28 other EU member nations to get them to do exactly what we want. Oh.....
Just stop it.Bloody boring, you don't know.How about a little confidence in your country?
loafer123 said:
Christ, ajd, how many times do you have to be told?
Almost all financial service businsses have Euro denominated EU subsidiaries, including regulated entities where relevant. If they haven't, they aren't run very well, and will very quickly do so on Brexit. Passporting is a complete red herring.
http://www.investmenteurope.net/regions/brexit-loss-of-passporting-rights-could-halve-uk-exports/Almost all financial service businsses have Euro denominated EU subsidiaries, including regulated entities where relevant. If they haven't, they aren't run very well, and will very quickly do so on Brexit. Passporting is a complete red herring.
"have to be told?" LOL, patronising, much?
You can't be certain there will be no impact at all - your confidence, nay arrogance, is erroneous and misplaced.
As there is no brexit plan, how do you know what will be impacted? You don't!
PS And I do have confidence in the UK - not to do something reckless over the EU! Flag waving is not a good look BTW.
///ajd said:
1. You assume UK will have less regulation, but infact the opposite could well be true. Our H&S laws make many practices in the EU look reckless. In any case, many regulations are supported and even pushed by the UK. As I was accused of earlier - you are in dreamland to think otherwise. Who has one of the lowest motorway speed limits in the EU? (our safety record is excellent, but it makes a point, whether we as I assume petrolheads agree with it or not, the UK loves cotton wool regulation).
If motorway speed limits is the best you can do... I'd say 7 countries in the EU have lower limits, 12 countries have faster limits by about walking pace due to the metric system and 9 countries a little faster still. We could hardly be more middle of the road. I'm not sure the EU have had any affect on limits anyway...///ajd said:
Two issues:
1. You assume UK will have less regulation, but infact the opposite could well be true. Our H&S laws make many practices in the EU look reckless. In any case, many regulations are supported and even pushed by the UK. As I was accused of earlier - you are in dreamland to think otherwise. Who has one of the lowest motorway speed limits in the EU? (our safety record is excellent, but it makes a point, whether we as I assume petrolheads agree with it or not, the UK loves cotton wool regulation).
2. The example I gave earlier related to passporting financial services - depending on the brexit plan, these maybe forced to relocate to within the EU (i.e. outside the UK). If there was a coherent brexit plan, we could discuss the likelihood of this happening. Under flexcit it may not happen immediately, but under the more aggressive plans, it could well occur quite quickly. Of course in brexit dreamland, we will immediately secure a veto on the four freedoms (blocking immigration etc.), whilst preserving all our access to the EU trade zone (protecting our services perhaps), and pay nothing! Should be a piece of cake, seeing how it is so easy for the UK to push around the 28 other EU member nations to get them to do exactly what we want. Oh.....
But you seem to assume that if we stay in the businesses that we currently here will stay here when it would make more sense for them to be based where the 'capitals' of the EU will be, deep in mainland Europe.
You also seem to assume that, with Britain out the EU will, or can, carry on regardless. It won't and can't. Brexit could be worse for the EU, as it is, than the worst predictions made by the scaremongerers for the UK. Movement of businesses could well be in the opposite direction to that which you believe.
Sadly, I still believe that there is too much ignorance and fear in the UK for a leave vote to succeed so we'll probably never know. Even more sadly, I also believe that future generations will have cause to regret our cowardly decision, were that to be the case.
1. You assume UK will have less regulation, but infact the opposite could well be true. Our H&S laws make many practices in the EU look reckless. In any case, many regulations are supported and even pushed by the UK. As I was accused of earlier - you are in dreamland to think otherwise. Who has one of the lowest motorway speed limits in the EU? (our safety record is excellent, but it makes a point, whether we as I assume petrolheads agree with it or not, the UK loves cotton wool regulation).
2. The example I gave earlier related to passporting financial services - depending on the brexit plan, these maybe forced to relocate to within the EU (i.e. outside the UK). If there was a coherent brexit plan, we could discuss the likelihood of this happening. Under flexcit it may not happen immediately, but under the more aggressive plans, it could well occur quite quickly. Of course in brexit dreamland, we will immediately secure a veto on the four freedoms (blocking immigration etc.), whilst preserving all our access to the EU trade zone (protecting our services perhaps), and pay nothing! Should be a piece of cake, seeing how it is so easy for the UK to push around the 28 other EU member nations to get them to do exactly what we want. Oh.....
But you seem to assume that if we stay in the businesses that we currently here will stay here when it would make more sense for them to be based where the 'capitals' of the EU will be, deep in mainland Europe.
You also seem to assume that, with Britain out the EU will, or can, carry on regardless. It won't and can't. Brexit could be worse for the EU, as it is, than the worst predictions made by the scaremongerers for the UK. Movement of businesses could well be in the opposite direction to that which you believe.
Sadly, I still believe that there is too much ignorance and fear in the UK for a leave vote to succeed so we'll probably never know. Even more sadly, I also believe that future generations will have cause to regret our cowardly decision, were that to be the case.
Remember London is the largest financial centre in "Europe".
NY, Chicago, HK, Singapore, and other financial centres also do very well and have influence and wealth yet are not part of a political & economic union.
The banking system and stability in the UK is far better than most (all) of the EU countries, look at the bank capital stress tests results.
NY, Chicago, HK, Singapore, and other financial centres also do very well and have influence and wealth yet are not part of a political & economic union.
The banking system and stability in the UK is far better than most (all) of the EU countries, look at the bank capital stress tests results.
///ajd said:
Two issues:
1. You assume UK will have less regulation, but infact the opposite could well be true. Our H&S laws make many practices in the EU look reckless. In any case, many regulations are supported and even pushed by the UK. As I was accused of earlier - you are in dreamland to think otherwise. Who has one of the lowest motorway speed limits in the EU? (our safety record is excellent, but it makes a point, whether we as I assume petrolheads agree with it or not, the UK loves cotton wool regulation).
2. The example I gave earlier related to passporting financial services - depending on the brexit plan, these maybe forced to relocate to within the EU (i.e. outside the UK). If there was a coherent brexit plan, we could discuss the likelihood of this happening. Under flexcit it may not happen immediately, but under the more aggressive plans, it could well occur quite quickly. Of course in brexit dreamland, we will immediately secure a veto on the four freedoms (blocking immigration etc.), whilst preserving all our access to the EU trade zone (protecting our services perhaps), and pay nothing! Should be a piece of cake, seeing how it is so easy for the UK to push around the 28 other EU member nations to get them to do exactly what we want. Oh....
So many assumptions there,....I don't know where to begin?1. You assume UK will have less regulation, but infact the opposite could well be true. Our H&S laws make many practices in the EU look reckless. In any case, many regulations are supported and even pushed by the UK. As I was accused of earlier - you are in dreamland to think otherwise. Who has one of the lowest motorway speed limits in the EU? (our safety record is excellent, but it makes a point, whether we as I assume petrolheads agree with it or not, the UK loves cotton wool regulation).
2. The example I gave earlier related to passporting financial services - depending on the brexit plan, these maybe forced to relocate to within the EU (i.e. outside the UK). If there was a coherent brexit plan, we could discuss the likelihood of this happening. Under flexcit it may not happen immediately, but under the more aggressive plans, it could well occur quite quickly. Of course in brexit dreamland, we will immediately secure a veto on the four freedoms (blocking immigration etc.), whilst preserving all our access to the EU trade zone (protecting our services perhaps), and pay nothing! Should be a piece of cake, seeing how it is so easy for the UK to push around the 28 other EU member nations to get them to do exactly what we want. Oh....
The UK likes cotton wool regulation?
As human beings, that goes against every fibre of our being.It really is astounding that this blood sucking organisation has been allowed to flourish under the guise of benefactors. It's worse than FIFA, look how that panned out!
I suggest you and Mrr T look into the positive side of Brexit rather than being so brainwashed by the 'four freedoms' and the 'Financial Pass porting' scariness.
should we leave.
It's b
ks! Do some research! The potential pro's actually out way the potential 'catastrophe' points, write them down side by side on a list and see which list is longer. 
Edited by anonymous-user on Saturday 14th May 18:16
Likes Fast Cars said:
Remember London is the largest financial centre in "Europe".
NY, Chicago, HK, Singapore, and other financial centres also do very well and have influence and wealth yet are not part of a political & economic union.
The banking system and stability in the UK is far better than most (all) of the EU countries, look at the bank capital stress tests results.
Yes but London has done well specifically because it sits in the EU. The single market has allowed UK, US and Swiss firms to centre their European operations inside the EU to passport their products widely into the EU and outside too. London benefits from language (English is the language of business), freedom (people like to live here, we are open and cosmopolitan), regulation (the English legal system is respected the world over, the FCA is a proper regulator) and availability of talent.NY, Chicago, HK, Singapore, and other financial centres also do very well and have influence and wealth yet are not part of a political & economic union.
The banking system and stability in the UK is far better than most (all) of the EU countries, look at the bank capital stress tests results.
The EU could freeze our products out of the EU. My business might have to relocate to within the EU, depending on the trade deals done on finance and the grandfathering of existing products (more than half my clients are in the EU). Existing products might have rights to be sold, perhaps new products would be approved for sale too.
London would still have some innate advantages. I've lived and worked in Frankfurt. It isn't a patch on London. there isn't the talent there. Bt if people are forced to go there, it could gain momentum. Don't underestimate the German desire to have Finanzplatz Deutschland outcompete London.
By the way, before anyone froths, I am most likely to vote out. But I think there will be a negative impact on the City and financial services.
There has been no proof of anything by either side so far. Mainly because they don't know. Everything they say is 'could', 'might', 'maybe'. It might help, but extremely unlikely to be mentioned by the Remainders, that countries in an and around Europe (Austria, Balkans, France, Germany, Greece, Hungary, Italy, Spain, Turkey) are all experiencing massive swings to the right and anti-EU rhetoric leading to civil disturbances. If UK exits it could be the first domino and that's why the huge effort by the main beneficiaries is getting so hyper and frantic. One way or another the establishment will intervene and produce what they see as good grounds for scrapping the referendum or its results.
AstonZagato said:
London would still have some innate advantages. I've lived and worked in Frankfurt. It isn't a patch on London. There isn't the talent there. Bt if people are forced to go there, it could gain momentum.
The City lost approximately 1 in 3 jobs after the crunch and crash, not all occupied by UK nationals, and here we are in 2016. Of course other countries took a hit too, but would Brexit not impact unfavourably on this sector for other countries in the EU? If there's any analysis on this 'out there' it's not well publicised. For the reasons you cite and others I can't see London losing its primacy whatever the vote outcome is.s2art said:
Mr GrimNasty said:
So are we expecting EU politics to affect our position in the Eurovision tonight?
In a strange way, yes. There will be countries in Europe whose people will be cheering us on. Norway for one.turbobloke said:
AstonZagato said:
London would still have some innate advantages. I've lived and worked in Frankfurt. It isn't a patch on London. There isn't the talent there. Bt if people are forced to go there, it could gain momentum.
The City lost approximately 1 in 3 jobs after the crunch and crash, not all occupied by UK nationals, and here we are in 2016. Of course other countries took a hit too, but would Brexit not impact unfavourably on this sector for other countries in the EU? If there's any analysis on this 'out there' it's not well publicised. For the reasons you cite and others I can't see London losing its primacy whatever the vote outcome is.AstonZagato said:
Credit Suisse and UBS have headquartered their investment banks in London because they can't do so in Switzerland and be inside the EU. Senior management and compliance need to be located inside the EU.
EU senior management and EU compliance need to be inside the EU, so any banks' EU presence needs to be no more than a branch office if that's what they decide to do. Boris Johnson is trusted by twice as many voters as David Cameron on Europe.
http://news.sky.com/story/1696188/we-believe-boris...
Leave campaigners were also considered more likely to tell the truth than remainers.
Mirrors this thread really.
http://news.sky.com/story/1696188/we-believe-boris...
Leave campaigners were also considered more likely to tell the truth than remainers.
Mirrors this thread really.
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