Big banks: even after Brexit, UK still miles better than res

[mrswdk]

News that the EU market is too insignificant for banks to be worrying about moving jobs from London to the rest of Europe following Brexit:

http://www.worldfinance.com/strategy/br ... ial-centre

Head of Deutsche Bank praises post-Brexit London as remaining the foremost financial centre in Europe, says EU policy so backwards that EU will never be competitive:

http://www.telegraph.co.uk/business/201 ... -says-deu/

[BoganGod]

News that the EU market is too insignificant for banks to be worrying about moving jobs from London to the rest of Europe following Brexit:

http://www.worldfinance.com/strategy/br ... ial-centre

Head of Deutsche Bank praises post-Brexit London as remaining the foremost financial centre in Europe, says EU policy so backwards that EU will never be competitive:

http://www.telegraph.co.uk/business/201 ... -says-deu/

Uk still miles better than res? WTF is res? Talking about screen resolution? Would be hard pushed to argue that the UK is better than even the most basic gaming rig wide screen high res screen with onboard top notch sound card and other swanky extras.

[waauw]

Mrswdk over-exagerating articles again. Nowhere in the article does it state the EU market is too insignificant.

Nevertheless, international borders aren't even the biggest worry for big banks on the long term. New regulations are. Up until now it has been the british government, much like its anglo-saxon counterparts accross the pond, that has blocked any push for heavy regulations on the financial sector. Now that Brexit is about to happen, this can finally change. And guess what, one of the biggest proponents of financial sector regulations is the lead EU-negotiator for Brexit, Michel Barnier.

[BoganGod]

What is res? WHAT IS RES? you drooling imbecilic spawn of a lesser god

[Dukasaur]

What is res? WHAT IS RES? you drooling imbecilic spawn of a lesser god

Rear-Entry Streetcar.

https://www.thestar.com/news/gta/2014/08/11/streetcar_reardoor_idea_is_no_solution_hume.html

[mrswdk]

Mrswdk over-exagerating articles again. Nowhere in the article does it state the EU market is too insignificant.

Nevertheless, international borders aren't even the biggest worry for big banks on the long term. New regulations are. Up until now it has been the british government, much like its anglo-saxon counterparts accross the pond, that has blocked any push for heavy regulations on the financial sector. Now that Brexit is about to happen, this can finally change. And guess what, one of the biggest proponents of financial sector regulations is the lead EU-negotiator for Brexit, Michel Barnier.

Exactly. Now that the UK is leaving the EU, the EU is free to enter a downward spiral of ever-tighter regulation and drive the continent's remaining banks across the Channel and into London.

Hoorah for Brexit

[waauw]

Mrswdk over-exagerating articles again. Nowhere in the article does it state the EU market is too insignificant.

Nevertheless, international borders aren't even the biggest worry for big banks on the long term. New regulations are. Up until now it has been the british government, much like its anglo-saxon counterparts accross the pond, that has blocked any push for heavy regulations on the financial sector. Now that Brexit is about to happen, this can finally change. And guess what, one of the biggest proponents of financial sector regulations is the lead EU-negotiator for Brexit, Michel Barnier.

Exactly. Now that the UK is leaving the EU, the EU is free to enter a downward spiral of ever-tighter regulation and drive the continent's remaining banks across the Channel and into London.

Hoorah for Brexit

That's actually not what that means. So far every non-EU nation who participates in the common EU market has to adhere to EU regulation. Meaning, whenever the EU decides on such things, countries like Switzerland and Norway have to follow blindly without any voice of their own, as stipulated in the treaties they signed with the EU. If in the end the UK ends up with a similar deal, as EU negotiators will certainly try to push, this could equally effect London.

[mrswdk]

Except the UK Government has said the UK will definitely leave the common market.

[waauw]

Except the UK Government has said the UK will definitely leave the common market.

She beats her chest like a gorilla. The exact purpose of Brexit negotiations is for the UK to remain part of the common market. She just wishes to tweak with its demands. To what extent she'll succeed or fail remains to be seen. But financial regulations are exactly the kind of reason why she wishes to obtain special exceptions within european law for the british financial sector.

[mrswdk]

Except the UK Government has said the UK will definitely leave the common market.

She beats her chest like a gorilla. The exact purpose of Brexit negotiations is for the UK to remain part of the common market.

Well, to quote from the article in my last post:

Theresa May has said the UK "cannot possibly" remain within the European single market, as staying in it would mean "not leaving the EU at all".

The PM promised to push for the "freest possible trade" with European countries and warned the EU that to try to "punish" the UK would be "an act of calamitous self-harm".

...

Any agreement with the EU must "allow for the freest possible trade in goods and services", Mrs May said.

"But I want to be clear: what I am proposing cannot mean membership of the single market.

"It would, to all intents and purposes, mean not leaving the EU at all.

"That is why both sides in the referendum campaign made it clear that a vote to leave the EU would be a vote to leave the single market."

[waauw]

Except the UK Government has said the UK will definitely leave the common market.

She beats her chest like a gorilla. The exact purpose of Brexit negotiations is for the UK to remain part of the common market.

Well, to quote from the article in my last post:

Theresa May has said the UK "cannot possibly" remain within the European single market, as staying in it would mean "not leaving the EU at all".

The PM promised to push for the "freest possible trade" with European countries and warned the EU that to try to "punish" the UK would be "an act of calamitous self-harm".

...

Any agreement with the EU must "allow for the freest possible trade in goods and services", Mrs May said.

"But I want to be clear: what I am proposing cannot mean membership of the single market.

"It would, to all intents and purposes, mean not leaving the EU at all.

"That is why both sides in the referendum campaign made it clear that a vote to leave the EU would be a vote to leave the single market."

As I said, she is just rumbling before the fight. She desires all the positives and acts as if she can get away with none of the negatives. Things simply don't work that way. The EU has made such things clear over and over. There will be no cherry picking.

[mrswdk]

Except the UK Government has said the UK will definitely leave the common market.

She beats her chest like a gorilla. The exact purpose of Brexit negotiations is for the UK to remain part of the common market.

Well, to quote from the article in my last post:

Theresa May has said the UK "cannot possibly" remain within the European single market, as staying in it would mean "not leaving the EU at all".

The PM promised to push for the "freest possible trade" with European countries and warned the EU that to try to "punish" the UK would be "an act of calamitous self-harm".

...

Any agreement with the EU must "allow for the freest possible trade in goods and services", Mrs May said.

"But I want to be clear: what I am proposing cannot mean membership of the single market.

"It would, to all intents and purposes, mean not leaving the EU at all.

"That is why both sides in the referendum campaign made it clear that a vote to leave the EU would be a vote to leave the single market."

As I said, she is just rumbling before the fight. She desires all the positives and acts as if she can get away with none of the negatives. Things simply don't work that way. The EU has made such things clear over and over. There will be no cherry picking.

I'm not sure what it is you're struggling to understand here. Perhaps some more of Theresa May's own words would help clarify this matter for you:

I want to be clear. What I am proposing cannot mean membership of the single market.

European leaders have said many times that membership means accepting the ‘4 freedoms’ of goods, capital, services and people. And being out of the EU but a member of the single market would mean complying with the EU’s rules and regulations that implement those freedoms, without having a vote on what those rules and regulations are. It would mean accepting a role for the European Court of Justice that would see it still having direct legal authority in our country.

It would to all intents and purposes mean not leaving the EU at all.

And that is why both sides in the referendum campaign made it clear that a vote to leave the EU would be a vote to leave the single market.

So we do not seek membership of the single market. Instead we seek the greatest possible access to it through a new, comprehensive, bold and ambitious free trade agreement.

..

We want to get out into the wider world, to trade and do business all around the globe. Countries including China, Brazil, and the Gulf States have already expressed their interest in striking trade deals with us. We have started discussions on future trade ties with countries like Australia, New Zealand and India. And President-Elect Trump has said Britain is not “at the back of the queue” for a trade deal with the United States, the world’s biggest economy, but front of the line.

I know my emphasis on striking trade agreements with countries outside Europe has led to questions about whether Britain seeks to remain a member of the EU’s Customs Union. And it is true that full Customs Union membership prevents us from negotiating our own comprehensive trade deals.

Now, I want Britain to be able to negotiate its own trade agreements. But I also want tariff-free trade with Europe and cross-border trade there to be as frictionless as possible.

That means I do not want Britain to be part of the Common Commercial Policy and I do not want us to be bound by the Common External Tariff. These are the elements of the Customs Union that prevent us from striking our own comprehensive trade agreements with other countries. But I do want us to have a customs agreement with the EU.

Whether that means we must reach a completely new customs agreement, become an associate member of the Customs Union in some way, or remain a signatory to some elements of it, I hold no preconceived position. I have an open mind on how we do it. It is not the means that matter, but the ends.

And those ends are clear: I want to remove as many barriers to trade as possible. And I want Britain to be free to establish our own tariff schedules at the World Trade Organisation, meaning we can reach new trade agreements not just with the European Union but with old friends and new allies from outside Europe too.

...

...our objectives include a proposed free trade agreement between Britain and the European Union, and explicitly rule out membership of the EU’s single market. Because when the EU’s leaders say they believe the 4 freedoms of the single market are indivisible, we respect that position.

https://www.gov.uk/government/speeches/ ... -pm-speech

I'm not really seeing what's so difficult to understand here.

[mrswdk]

A UK Government report on its strategy for exiting the EU, published this month:

We will not be seeking membership of the Single Market

Once we have left the EU, decisions on how taxpayers’ money will be spent will be made in the UK. As we will no longer be members of the Single Market, we will not be required to make vast contributions to the EU budget.

https://www.gov.uk/government/uploads/s ... EU_Web.pdf

[waauw]

Very well, I concede. I had not realized the UK had changed course. Back when that statement came out, the media seemed focused on other elements of the speech/report that I somehow missed that detail. Regardless, question: It states there will be no vast contributions to the EU budget. Does this mean the UK is leaving ERASMUS and the european scientific community as well?

[mrswdk]

POINT, WDK!!!!!!!!!! Boom boom, easy D!

The UK Govt appears to be suggesting it wants to keep going with scientific/research programmes, but I don't think they've said anything specific about them so far.