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100,000 Bank Jobs Will Go In Brexit

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http://www.standard.co.uk/news/london/brexit-would-lead-to-loss-of-100000-bank-jobs-says-city-a3124661.html

A vote to quit the European Union would trigger a flood of up to 100,000 banking jobs out of London, senior City figures have warned.

One board-level banker told the Standard that “Brexit” would force dozens of banks that have their European headquarters in London to relocate highly-paid professionals to rival EU financial centres such as Frankfurt, Luxembourg and Dublin.

He estimated that staffing levels at some investment banks in London could fall by as much as half, with a huge knock-on effect for the broader economy and property prices.

And thats bad news? Bring it on!

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Can't see them going to Dublin in any numbers. Luxembourg is rammed but would be the obvious choice. Frankfurt, well they'd have gone already if they were going but making the German economy more bank friendly would probably kill the rest of it.

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And there'd be 100,000 more diverse highly skilled jobs in their place. Finance has crowded out the rest of the economy similarly to the public sector a decade ago.

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"Senior city figures", what does that even mean? Absolutely nothing, its just a propaganda piece hiding behind a some made up quotes and a supposed journalist.

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This is more or less a cut and paste of many articles written in the late 90s that went along the lines "if Britain doesn't adopt the Euro many jobs will be lost and the financial centre of Europe will move to Frankfurt". I really have to ask how certain journalists get away with it. Is it really a surprise that newspaper sales are declining, if people were given a genuine insight they may think about paying for it.

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Maybe all these highly educated and intelligent persons with drive, direction and passion should create their own SMEs......do something productive and beneficial to society with the abilities they have afforded. ;)

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Maybe all these highly educated and intelligent persons with drive, direction and passion should create their own SMEs......do something productive and beneficial to society with the abilities they have afforded. ;)

They can all go into BTL.

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I would have thought it will be the other way around? A brexit will increase bank jobs because UK can break from EU rules about bankers pay and bonuses.

No. The UK has to abide by European rules and Worldwide ones.

A Brexit, which I think is more likely than not, will result in about 2-3m Euro nationals leaving quickly. The majority will be no longer qualify for in-work benefits.

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Many banking and international firms are already locating jobs outside of London wherever they can, due to massive costs of employment pushing the wage bill up - and that will actually get better under brexit as (I think) many EU nationals will leave London if the free public money train (and HB) stops for them

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Apparently a recent poll by ORB showed that a majority now want Brexit.

Likely the chances of Cameron reneging on the eu referendum have increased considerably as well.

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He estimated that staffing levels at some investment banks in London could fall by as much as half,

Got to be good for lower London house prices. No disadvantages to Brexit at all then.

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http://www.standard.co.uk/news/london/brexit-would-lead-to-loss-of-100000-bank-jobs-says-city-a3124661.html

A vote to quit the European Union would trigger a flood of up to 100,000 banking jobs out of London, senior City figures have warned.

One board-level banker told the Standard that “Brexit” would force dozens of banks that have their European headquarters in London to relocate highly-paid professionals to rival EU financial centres such as Frankfurt, Luxembourg and Dublin.

He estimated that staffing levels at some investment banks in London could fall by as much as half, with a huge knock-on effect for the broader economy and property prices.

And thats bad news? Bring it on!

I think they have misread public sentiment if they think people will read this headline and think "No, that's terrible news".

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Banking jobs?

Can they actually name how they help the economy?

What to banks create? What do their factories produce?

Oh thats right...nothing. They just take a cut from actual producers by acting as the agent between producer and consumer, forcing prices up in doing so.

London might suffer a bit from banksters going. Well, bentley dealers and savills might anyway. The rest of the country would be better off.

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The article just presented an unnamed banking source using uncollaboted figures. Utter crap.

They did not mention any rules that would infringe the ability if banks to do business. And who cares if a few banking jobs go abroad? Probably half the city's workforce is not British anyway.

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No. The UK has to abide by European rules and Worldwide ones.

A Brexit, which I think is more likely than not, will result in about 2-3m Euro nationals leaving quickly. The majority will be no longer qualify for in-work benefits.

Not quite. Why would UK abide to EU rule with Brexit?

There's the EU rule that cap the bonus to max of 200% salary that UK doesn't have to follow with Brexit.

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Not quite. Why would UK abide to EU rule with Brexit?

There's the EU rule that cap the bonus to max of 200% salary that UK doesn't have to follow with Brexit.

It has to to abide by the rules, like Norway and the Swiss.

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