121–130 of 283 posts
Although, uncertainty doesn't seem to be a big deal in bull markets, so it could be contextual.
> have shifted at least £800 billion ($1 trillion) worth of assets out of the country And what's the significance of that? Suppose I had $100 in a bank in UK and I moved it to a bank in Germany. Neither country is better or worse because of that. The article doesn't bother to explain the ramifications. Deals are made in UK because English law is really, really good. Having to maintain offices in EU will surely increa…
Your seriously misunderstand the banking sector's very real impacts on everyday lives. Having more assets under management is very impactful because money doesn't just sit in a bank -- it is used again for other things. Thus, there would be less money for loans and other investments. If you're trying to get a mortgage or start a business, that's very impactful. If you are a construction worker and financing for new c…
It doesn't really matter where an investor/banker sits, except in fairly narrow circumstances (e.g. depending on who's regulating him/her, s/he might or might not be able to invest in Iran, and have different rules on insider trading, etc.).
No surprise. Passporting (allow banks to operate in all members of the EU if they are licensed in one member) is a key to all of the banks operations. Every bank based in London for that purpose now has to open a regulated branch in an EU member. The next thing to kill the market in London will be the movement of Euro clearing to an EU member. Brexit is a self inflicted shot to the head. The number of people that sup…
I don't feel bad (much) for those who voted for Brexit - all they had to do was spend 15 mins googling and thinking. Even if they didn't understand the full impact of leaving the EU, it was plain then (and now) to see it is such a bad idea from any angle. I do feel bad for those who voted to stay - they're gonna suffer now, despite voting responsibly and sensibly. I don't know how to take this - one way to look at it…
If the public were told the truth about what we'd be sacrificing for "sovereignty", I don't think we'd be here.
No surprise. Passporting (allow banks to operate in all members of the EU if they are licensed in one member) is a key to all of the banks operations. Every bank based in London for that purpose now has to open a regulated branch in an EU member. The next thing to kill the market in London will be the movement of Euro clearing to an EU member. Brexit is a self inflicted shot to the head. The number of people that sup…
I don't feel bad (much) for those who voted for Brexit - all they had to do was spend 15 mins googling and thinking. Even if they didn't understand the full impact of leaving the EU, it was plain then (and now) to see it is such a bad idea from any angle. I do feel bad for those who voted to stay - they're gonna suffer now, despite voting responsibly and sensibly. I don't know how to take this - one way to look at it…
Earlier quoted context omitted.
And property prices in London/South East become affordable again, Sterling falls benefiting inward investment, exports, and tourism. So not all bad news then! :) There's so much defeatism within the UK and anti-Brexit propaganda flying around from vested interests. It's all so tiresome. > Brexit is a self inflicted shot to the head. Money isn't the only thing in life.
>Money isn't the only thing in life. Disclaimer - I'm not trying to be hateful. That seems like a completely nonsense, garbage statement. Brexit is primarily about money and economics, from what I can tell on the outside looking in. So what was your purpose in writing that?
Brexit is about having fewer immigrants in the country.
My driving instructor was very honest with me, even if I was a foreigner. He said 50% of his students are foreigners. But he still voted for Brexit even if he knows it will make him worse off financially. He just wants fewer immigrants in the country.
No surprise. Passporting (allow banks to operate in all members of the EU if they are licensed in one member) is a key to all of the banks operations. Every bank based in London for that purpose now has to open a regulated branch in an EU member. The next thing to kill the market in London will be the movement of Euro clearing to an EU member. Brexit is a self inflicted shot to the head. The number of people that sup…
I suspect it will take about ten seconds for the trade concerns the doom and gloomers are worried about to get resolved. UK is the second largest economy in the EU. The idea that they won't quickly and easily resolve trade concerns seems silly. EU member states will still want UK money.
Those shiny Euros the UK is coining?
Seriously, the banking services provided by the city will move to Paris and Frankfurt in no time. Outside the EU, London has zero structural advantage or lock-in.
Earlier quoted context omitted.
> regaining control of borders What does this actually mean specifically ? What policy changes do you want that you think you can't have within the EU? > sovereign nation once again The UK is sovereign. It's just made some international agreements to align with other countries. If you think the EU is bad for this, wait until you see things like TTIP: all of the legislative override, ability to sue the state in foreig…
A points based immigration policy would be a nice start. > The UK is sovereign. It's just made some international agreements to align with other countries. If you think the EU is bad for this, wait until you see things like TTIP: all of the legislative override, ability to sue the state in foreign courts etc, and none of the democracy. One wonders how those poor impoverished nations outside of the big trading blocs s…
How aware are you of the current UK visa tier system? What kinds of people do you think are currently immigrating that would not be eligible under a points based system?
>One wonders how those poor impoverished nations outside of the big trading blocs survive!
Generally they are poor and impoverished, yes. Or they have a deal with the EU and US. Or are tiny exceptions like Singapore.
Earlier quoted context omitted.
>Money isn't the only thing in life. Disclaimer - I'm not trying to be hateful. That seems like a completely nonsense, garbage statement. Brexit is primarily about money and economics, from what I can tell on the outside looking in. So what was your purpose in writing that?
For many people it was about regaining control of borders and reducing immigration. Personally I'm willing to trade off being a little poorer in exchange for being a sovereign nation once again, although the current direction of travel makes it look like we will be getting Brino i.e. Brexit in name only, about which by the way I'm staggered at how blithely people are willing to discard democracy when the result doesn…
It is a meaningful coda to the history of the British empire that they now choose willingly to descend into underdevelopment and poverty.
Earlier quoted context omitted.
>Money isn't the only thing in life. Disclaimer - I'm not trying to be hateful. That seems like a completely nonsense, garbage statement. Brexit is primarily about money and economics, from what I can tell on the outside looking in. So what was your purpose in writing that?
For many people it was about regaining control of borders and reducing immigration. Personally I'm willing to trade off being a little poorer in exchange for being a sovereign nation once again, although the current direction of travel makes it look like we will be getting Brino i.e. Brexit in name only, about which by the way I'm staggered at how blithely people are willing to discard democracy when the result doesn…
We’re not in Shengen. You can’t just stroll across.
This trope about discarding democracy is tired too. A democracy isn’t “choose once and keep forever”. We are free to change our minds. Or are you surprised that we have general elections every so often?