Quote:
Originally Posted by pip08456
Typical obfuscation from remainers.
Banks already have a 2 1/2 yr transition period. Invoking A50 will not happen before May 2017. There will then be 2yrs negotiation so that gives them 4 1/2 yrs. After the negotionations have concluded we don't as yet know how long it will be before we are finally rid of the corrupt set-up.
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I regret I have to disagree with your numbers. Firstly, Theresa May has indicated she's still on target to invoke Article 50 by the end of March 2017. The two-year countdown starts then. There is no extra 2.5 years on top of this.
At some stage between March 2017 and the end of negotiations, the banks will have a clearer understanding of the UK's future relationship with the EU. If this was one year into the negotiations, then the banks would only have one year to adjust. They're obviously being as proactive as they can now by speaking to other cities like Frankfurt and Paris but it makes sense for them to have more time to adjust to the new environment so as not to disrupt the industries they support and to make it easier on the many support staff who stand to lose their jobs as they are unlikely to move to the Continent.