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After ‘Brexit,’ Finding a New London for the Financial World to Call Home

nytimes.com

131–139 of 139 posts

Re: After ‘Brexit,’ Finding a New London for the Financial World to Call Home

#131
post #4
post #2

Why is English so important? You are going to speak it in the workplace, for sure, but why do you need that the people in the street are fluent in English? The couple of sentences that you'll exchange in the restaurant will come through even if people are not fluent.

Primarily because not _every_ worker will be moved when a company moves. A lot of the workforce will be local, hence the language requirements.

You'll find qualified people with good english level just about everywhere.

Re: After ‘Brexit,’ Finding a New London for the Financial World to Call Home

#132

There's an ongoing offshoring of certain divisions anyway, something the article alludes to with the Polish IT staff. That kind of thing is Brexit independent. Michelin stars are not synonymous with having good restaurants. Something like a good steakhouse is not captured my Michelin, which is a very narrow definition of good food. There's also the requirement of variety, which London does extremely well: food from m…

> It's also not that clear that Brexit will force finance away from London, which is well entrenched.

There is a good case for the EU to forbid banks doing EUR operations (at least those intended to trade with The eurozone) outside the EU.

The UK will probably intensify operations with tax heavens (or become a tax heaven itself), so the EU will be well advised to supervise financtial transactions to/from the UK.

Re: After ‘Brexit,’ Finding a New London for the Financial World to Call Home

#133
post #127
post #93

Earlier quoted context omitted.

I think before the referendum everyone assumed the 2 years was to negotiate a new deal. Certainly all the pro-Leave campaigners seemed to think so. I'm a bit shocked that the remain camp didn't point this out earlier. It seems to me neither side really had any good idea of what exit actually would involve.

I think the reason everyone assumed that was because that was the general consensus. The idea that the EU and UK can't negotiate new trading terms until after the 2 years is up seems to be something the European Commission pulled out their ass in the last day or so.

Everybody is pulling things out of assess: Cameron backtracked in his promise to trigger Article 50 immediately after the referendum. And the EU is interpreting fuzzy law however it will please.

That's what happens when goodwill gets trashed, and trust thrown out the window.

Re: After ‘Brexit,’ Finding a New London for the Financial World to Call Home

#134
post #91

Earlier quoted context omitted.

Given the last couple of months, I think there's no evidence at all to support the assertion that British politicians aren't idiots. Ignoring the legalities, the Leave vote crossed the Rubicon. The EU has always tolerated rather than enjoyed the company of the British establishment. So the EU is happy to see the back of the UK. The British establishment still thinks it's the 19th century, so it's happy not to have an…

"The EU has always tolerated rather than enjoyed the company of the British establishment. So the EU is happy to see the back of the UK." This assertion is almost as myopic as those from the Leave campaign. The UK is one of the richest and most populous countries in the Union, even without considering the repercussions on other members, Brexit will mean a serious blow for the EU in terms of trade loss and budget fina…

The UK has really closed the rubicon. For the EU, enough is enough.

> Brexit will mean a serious blow for the EU in terms of trade loss and budget financing.

The UK can get a norwegian deal: same trade, same budget, no UK blocking.

Re: After ‘Brexit,’ Finding a New London for the Financial World to Call Home

#135
post #2

Why is English so important? You are going to speak it in the workplace, for sure, but why do you need that the people in the street are fluent in English? The couple of sentences that you'll exchange in the restaurant will come through even if people are not fluent.

Because those companies will hire from the population living in those cities. English is the international language of business, so all things being equal, you'd choose a population that is fluent in English as a second language.

All things are not equal, that's the point of the article. My grudge is that it gives english too much weight.

Re: After ‘Brexit,’ Finding a New London for the Financial World to Call Home

#136
post #109
post #104

Earlier quoted context omitted.

If the UK negotiate to be part of the EEA within 2 years of activating Article 50, then it will be a smooth transition. The other unknown that parent did not mention is how hard will the EU make those negotiation. Everybody economical interest is that the EU accept, even politically punishing an ex-member for leaving is going to have consequences in the EU and internationally ( Eurosceptic movement have been boosted…

> If the UK negotiate to be part of the EEA within 2 years of activating Article 50, then it will be a smooth transition. As I have tried to explain, negotiating to join the EEA while still a member of the EU is illegal under EU law. They can only start that negotiation after actually leaving the EU, not after triggering Article 50.

I'm struggling to find a source for this. Is there anywhere I can read more about this?

Re: After ‘Brexit,’ Finding a New London for the Financial World to Call Home

#137
post #119
post #98

Earlier quoted context omitted.

> Secondly, it is highly unlikely that Scotland would be able to (re)enter the EU without joining the Euro. Why? There are plenty of EU countries without the Euro..

The UK and Denmark have a fairly unique opt-out from the Euro. Everyone else who has joined the EU in the reasonably recent-term have pledged to join at some point in the future. Sweden is supposed to join but for some reason has managed to avoid it

Yes. Though, Scotland would have plenty of reasons to plead for a unique treatment.

Re: After ‘Brexit,’ Finding a New London for the Financial World to Call Home

#138
post #109

Earlier quoted context omitted.

> If the UK negotiate to be part of the EEA within 2 years of activating Article 50, then it will be a smooth transition. As I have tried to explain, negotiating to join the EEA while still a member of the EU is illegal under EU law. They can only start that negotiation after actually leaving the EU, not after triggering Article 50.

I'm struggling to find a source for this. Is there anywhere I can read more about this?

http://www.bbc.com/news/uk-politics-eu-referendum-36684876

The BBC concludes that the trade commissioner is technically correct, which as we all know is the best kind of correct.

Re: After ‘Brexit,’ Finding a New London for the Financial World to Call Home

#139
post #138

Earlier quoted context omitted.

I'm struggling to find a source for this. Is there anywhere I can read more about this?

http://www.bbc.com/news/uk-politics-eu-referendum-36684876 The BBC concludes that the trade commissioner is technically correct, which as we all know is the best kind of correct.

Thank you, that's exactly the kind of source I was looking for. I was completely unable to find anything with the Google queries I was using.
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