Cable Forum - Brexit: Article 50 Has Been Triggered !

It was never going to happen. London has the expertise, the infrastructure and the connections. The only staff that might conceivably leave London for a Eurozone destination are those that might have to do so, in order to fulfil regulatory requirements within the EZ. However, we're talking a few hundred people out of many thousands.

heero_yuy

12-05-2017 14:26

Re: Brexit: Article 50 Has Been Triggered !

Quote:

AMERICA has threatened a financial trade war with the EU over its plans to cripple Brexit Britain by forcing lucrative key City business to the continent.

In remarks that will delight No10, a US lawmaker said moves by Brussels to insist euro clearing takes place within the bloc would “undoubtedly inform the evolution of US regulatory policy”.

The EU revealed earlier this month it was considering a location policy for the $1 trillion market in light of Britain’s departure in a move that could hit firms in London.

Christopher Giancarlo, acting chair of the US Commodity and Futures Trading Commission, said the EU should proceed with “care”.

And he said: “To date, the US has not deemed a body of water – even as large as the Atlantic Ocean – as an impediment to effective clearing house supervision and examination.”

Source

It's good to have real friends over the pond.

Chris

12-05-2017 20:37

Re: Brexit: Article 50 Has Been Triggered !

This is because it would affect Wall Street as well. They can't just prevent London from clearing Euros, even if that's their aim. They have to prevent everyone outside the Eurozone from doing so. If they do this it will be a monumental act of self harm.

As regards his parting shot, a vast quantity of Dollars are cleared in London - sometimes more are cleared in London than in New York. The Yanks are quite relaxed about this, as they should be.

RizzyKing

12-05-2017 23:00

Re: Brexit: Article 50 Has Been Triggered !

The EU really needs to calm down on the rhetoric and threats it's doing them no favours at the minute and is damaging them internationally as they are being seen as being petty and more interested in punishing the UK for brexit then attempting any reasoned deal. I honestly think the next two year negotiation phase is a total waste of time too many ego's involved and the EU is determined to be seen to give as little as possible in the negotiations and whatever deal finally appears will likely be rejected by both parties. The politicians need to shut up and let the negotiators handle it and the convenient leaks need to stop as well as that's also reflected poorly on the EU so far.

Mr K	13-05-2017 09:46

Re: Brexit: Article 50 Has Been Triggered !

It's going to damage both the UK and the EU, but guess who'll come off worse by virtue of size? Time they all stopped the briefings, name calling etc and limit the damage as much as they can. The EU and UKs interests are the same thing , treating each other as the enemy will be a disaster. Russia will be loving all this.

pip08456

13-05-2017 10:37

Re: Brexit: Article 50 Has Been Triggered !

Quote:

Originally Posted by Mr K (Post 35898646)

Based on that then the EU is going to come off worse as London is one of the biggest financial centers in the world, add to that Lloyds of London as the biggest insurer...

OLD BOY

13-05-2017 10:41

Re: Brexit: Article 50 Has Been Triggered !

Quote:

Originally Posted by RizzyKing (Post 35898589)

The two year negotiation period is not a waste of time if we get a good deal for Britain out of it. However, I certainly agree that if the EU negotiators cut up rough and are intent on damaging Britain no matter what, then we should just pull out without a deal.

We have to try rather than just give up before even attempting any serious discussions.

Mr K	13-05-2017 10:42

Re: Brexit: Article 50 Has Been Triggered !

Quote:

Originally Posted by pip08456 (Post 35898659)

Based on that then the EU is going to come off worse as London is one of the biggest financial centers in the world, add to that Lloyds of London as the biggest insurer...

Soon to have a 'Lloyds of Brussels' branch.
https://www.theguardian.com/business...russels-office

pip08456

13-05-2017 10:48

Re: Brexit: Article 50 Has Been Triggered !

So it's going to have a branch office in Brussels. So what! It has other branch offices in other parts of the world.

As London is and will remain the headquarters where does the money come back to?

Pierre

13-05-2017 14:08

Re: Brexit: Article 50 Has Been Triggered !

Quote:

Originally Posted by pip08456 (Post 35898666)

So it's going to have a branch office in Brussels. So what! It has other branch offices in other parts of the world.

As London is and will remain the headquarters where does the money come back to?

Especially as we'll be an offshore tax haven by then.

1andrew1

13-05-2017 15:38

Re: Brexit: Article 50 Has Been Triggered !

These don't seem impossible demands for the EU27 and UK to agree to.

Quote:

BMW steps up warning on threat to UK Mini production
Speaking at the car maker’s annual meeting in Munich, chief executive Harald Krueger appeared to ratchet up the pressure on Westminster and Brussels to settle a deal which does not harm the car industry.
"We hope for pragmatism from all parties in the Brexit negotiations,” said Mr Krueger. “That means no new barriers to trade, free movement for skilled workers.”..
BMW already has a smaller plant producing Minis in the Netherlands and there are fears the company could abandon its Oxford site for a continental plant if there is a "hard Brexit", means 10pc trade tariffs and customs red tape.
“We are planning in terms of scenarios,” Mr Krueger told shareholders. “You know that we make Mini models at VDL Nedcar in the Netherlands. We're flexible.”

http://www.telegraph.co.uk/business/...ni-production/

pip08456

13-05-2017 16:07

Re: Brexit: Article 50 Has Been Triggered !

Quote:

Originally Posted by 1andrew1 (Post 35898704)

These don't seem impossible demands for the EU27 and UK to agree to.

http://www.telegraph.co.uk/business/...ni-production/

I think you'll find that the UK doesn't want trade barriers and has no objection to the free movement of "Skilled Workers" where those skills do not exist or are not freely available in the UK.

The EU's free movement is worlds away from that.

All times are GMT +1. The time now is 14:39.

Page 110 of 190

110

Show 100 post(s) from this thread on one page