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Trampa501

Us Banks To Move From London To Ireland?

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Being reported in the FT that banks such as Citigroup and Morgan Stanley are looking at moving operations to Ireland, over concerns that the UK will drift apart from the EU.

Double-edged sword, but could well affect the London housing maket?

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Funny excuse, given city shill boris has been talking down the EU for the very reason of their rhetoric to rein in the city.

The EU is the one wanting the financial transaction tax, its Cameron and his friends who don't.

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Like Carney's phantom threats to raise interest rates this makes no sense whatsoever. The City of London Corporation and the UK govt grant these larcenous bastards freedom to operate beyond the law like nowhere else on Earth. There's no propect that this state of affairs will change soon, the British Establishment has an easy-going and sympathetic relationship with financial crime, why ever would the banksters move somewhere more restrictive?

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Like Carney's phantom threats to raise interest rates this makes no sense whatsoever. The City of London Corporation and the UK govt grant these larcenous bastards freedom to operate beyond the law like nowhere else on Earth. There's no propect that this state of affairs will change soon, the British Establishment has an easy-going and sympathetic relationship with financial crime, why ever would the banksters move somewhere more restrictive?

+1, more BS from the FT.

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Another in a long line of threats.

Bailout or they'll go elsewhere.

Stay in the eu or they'll go elsewhere.

Who knows how many times.

It's long past the time for them to go and don't come back.

Edited by billybong

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Like Carney's phantom threats to raise interest rates this makes no sense whatsoever. The City of London Corporation and the UK govt grant these larcenous bastards freedom to operate beyond the law like nowhere else on Earth. There's no propect that this state of affairs will change soon, the British Establishment has an easy-going and sympathetic relationship with financial crime, why ever would the banksters move somewhere more restrictive?

+1 One of your more sensible posts.

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It's probably political & coming from the US Government, they are very much spooked by the UK pulling back from the EU.

None of their business if they *actually* believe in democracy though really is it?

I wonder how they would react to political pressure from Europe about their dealings with their neighbours!

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It's BS. The large banks all have operations in Dublin because it's cheaper to hire people there and the corporate tax rates are lower. They will continue to scale up (or not) their operations there regardless of whether Britain is in the EU or not.

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European HQ's for Morgan Stanley, JP Morgan and Citigroup are all in Canary Wharf, developed, no doubt, at vast expense. I hear American accents every day walking around the area. They might move their PO box and a few little bits as a tax dodge or for licensing reasons, thats not the same as pulling out of London.

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If they were going to move why Ireland? What about Greece? Do the Rothchilds still like Corfu?

The area has become known as "Kensington-on-Sea" after the west London enclave of Russian oligarchs, bankers and Conservative politicians who now flock here.
The parish of Kassiopi with its simple tavernas set on inaccessible inlets has become a haven for businessmen, politicians, media moguls, art dealers and lawyers. Aside from the Rothschilds, Lord Sainsbury, the Duke of Westminster, Prince Charles and the Duchess of Cornwall are regular visitors, as are the Agnelli family which controls Fiat, and Roman Abramovich, the Chelsea Football Club owner.
Rupert Murdoch and his daughter, Elisabeth, who runs a network of TV production companies in the UK and the US, also drop anchor here on their own floating gin palaces.

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European HQ's for Morgan Stanley, JP Morgan and Citigroup are all in Canary Wharf, developed, no doubt, at vast expense. I hear American accents every day walking around the area. They might move their PO box and a few little bits as a tax dodge or for licensing reasons, thats not the same as pulling out of London.

Although "passporting" is officially in place, there is no way that the UK would allow a mega bank to be headquartered in Ireland but mainly operate in the UK. At least one did before until the Irish crisis when it became obvious that Ireland would not be able to stand behind its banks.

While legal, the BOE would make it practically impossible for a bank to operate as a UK branch from an irish subsidiary.

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