Quote:
Originally Posted by Stuart
The problem is the banking sector. This is largely electronic, therefore the companies can locate their offices in any country with little or no impact on trading. HSBC has their world headquarters in London, but they could just as easily operate from Frankfurt, Paris or any other city. In fact, if the government introduces restrictions on free travel with europe and they can't find enough qualified staff here, they may be tempted to move their headquarters, with the loss of tens of thousands of jobs.
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They'd only do that if the other additional restrictions they'd be subject to in the Eurozone were going to have less of an impact on their business and profits. Given the EU talk about restricting and taxing banks plus the onerous employment rules they're not going to be heading east any time soon.