Cable Forum - Post-Brexit Thread

Peers on the committee, due to report on Thursday, have been struck by the urgent need for financial institutions make decisions on their location because they cannot wait until 2019 to find out if they can access the single market from London.

It's quite simple, you tell the banks that if they relocate to Europe then the UK will not bail any of them out when they next get into trouble. They'll have to go cap-in-hand to their Brussels masters.

1andrew1

14-12-2016 12:44

Re: Post-Brexit Thread

More evidence of the Government's non-plan is revealed.

"Big Brexit decisions 'delayed until next year'
Important decisions on Brexit have been shelved until next year amid reports that key members of the Cabinet committee dealing with the issue are split on what to do, according to The Times.

The newspaper reports that decisions are expected to start being made before Article 50 is triggered in March, although some issues such as the customs union may be deferred until beyond then.

The European Union Exit and Trade committee meets every fortnight and has been given great influence by Theresa May.
http://www.telegraph.co.uk/news/2016...y-corbyn-live/

---------- Post added at 11:44 ---------- Previous post was at 11:42 ----------

Quote:

Originally Posted by heero_yuy (Post 35875711)

These aren't British banks so would not be bailed out by the UK anyway.

Osem	14-12-2016 13:18

Re: Post-Brexit Thread

Big decisions take time - I bet that if the PM started making such announcements now portions of the media would be banging on about how vitally important issues were being rushed through and more legal challenges would be mounted to slow it all down again. This is uncharted and extremely complex territory so who seriously expected anything other than for it to take time - probably a good deal more time than anyone envisaged. Such is the nature of momentous changes such as this.

The world's banks are so intertwined that we have no idea how much exposure British banks have to their foreign owned counterparts. When big EU banks start failing again there will be serious repercussions for our banks, the only issue is whether these problems will be lesser or greater and I reckon being inside the EU guarantees the latter.

1andrew1

14-12-2016 13:27

Re: Post-Brexit Thread

Brexit: 40% of US firms with British offices are considering relocating to the EU
Nearly 40 per cent of US businesses with a base in the UK say they are considering moving elsewhere in the EU because of Brexit, according to a report, warning that the vote to leave could also hit trade relations between Britain and America.

The survey by international law firm Gowling WLG also found that two-thirds of the 533 US firms polled said the UK’s vote to the leave the EU is already impacting investments choices in the country.

Food and beverage, life sciences and financial services firms were most likely to consider relocating whilst aerospace firms were the least likely, the survey has found.
http://www.independent.co.uk/news/bu...-a7473251.html

---------- Post added at 12:27 ---------- Previous post was at 12:22 ----------

Quote:

Originally Posted by Osem (Post 35875741)

I agree it's important to do it right than do it quickly. That's a point I've been trying to make to those on this forum who wanted us to invoke Article 50 immediately. However, the article suggests that there are divisions holding up a firm plan, let's hope they sort matters out over a few Chrimbo sherries. :)

Osem	14-12-2016 13:44

Re: Post-Brexit Thread

Firms 'considering moving' - so what? Firms consider all sorts of things because they have to including scenarios which may never happen. I'd have thought due diligence would require executives to consider all factors which might affect their interests but considering them doesn't mean they're going to change anything. These things aren't mutually exclusive either so they might just as well be considering moving operations to the UK to avoid Trump's tax plans over there. Yes, there may well be firms which move operations to the EU/elsewhere and there'll be others which head in the other direction because they'll find doing business in the UK a lot cheaper and simpler.

Hugh	14-12-2016 14:24

Re: Post-Brexit Thread

Quote:

Originally Posted by heero_yuy (Post 35875711)

Most of the banks they are discussing are not UK-based, so were not bailed out by HMG...

The major recipients of the bail-out in the UK were Lloyds and RBS.

1andrew1

14-12-2016 14:36

Re: Post-Brexit Thread

Quote:

Originally Posted by Hugh (Post 35875752)

Most of the banks they are discussing are not UK-based, so were not bailed out by HMG...

The major recipients of the bail-out in the UK were Lloyds and RBS.

Yes. The banks in the referenced article are multinational investment banks.

The bailed out British banks Lloyds Banking Group, RBS, Bradford & Bingley and Northern Rock were primarily retail banks although RBS has a diminishing investment banking arm.

Kursk

14-12-2016 14:57

Re: Post-Brexit Thread

Quote:

Originally Posted by TheDaddy (Post 35875687)

I've got a black cap to

Promisingly kinky; papa wants to know if you have thigh-high rubber boots to go with it you little minx :p:

papa smurf

14-12-2016 18:20

Re: Post-Brexit Thread

[/COLOR]

Quote:

Originally Posted by 1andrew1 (Post 35875742)

Remain moaners starting to actively DAMAGE UK economy with lies and fear-mongering

REMAINERS are "willing economic hardship" on Britain as they refuse to accept the public's decision to leave the European Union, experts say.

Politicians, campaigners and Europhiles are hoping to overturn the referendum result - and are doing so by damaging chances of Brexit success, a top economist has suggested.

In spurious survey after spurious survey and unfounded pronouncement after unfounded pronouncement politicians who didn’t like the Brexit result and businesses and banks with vested interests are trash-talking Britain and hoping for economic failure.

And some economists fear is starting to work.

http://www.express.co.uk/news/uk/743...ot-court-cases