Jump to content
House Price Crash Forum

Brexit What Happens Next Thread ---multiple merged threads.


Recommended Posts

0
HOLA441
28 minutes ago, kzb said:

You thought I'd made the whole thing up, or got it off a conspiracy site, and then it turns out there is a definite EU plan for it.  You are upset because that screws with your assumption of remainer intelligence and brexiter stupidity.  It's as simple as that.

That recovery fund is happening.  They have to raise money for it somehow.  

 

EU leaders have been making noises about how "things are going to change" etc. for the relationship with banking in London, obviously they won`t be able to rise above a petty retaliation via taxes to try and damage London/UK banking, all good IMO let the banks eat each other, should be a fun watch? Privately EU "elites" will have steam coming out their a*rse that the UK sheeple dared to tell them to get f*ucked 🤑

Link to comment
Share on other sites

1
HOLA442
1 hour ago, Confusion of VIs said:

We need to raise even more money, where is that coming from?

Most western economies are in a similar position with post Covid debt.  If we were in the EU we would be contributing vast sums to EU nations' recovery.  I bet we'd be the biggest contributor when that transaction tax comes in.

So on top of our existing debts, we'd be borrowing even more to hand over to the EU.

Link to comment
Share on other sites

2
HOLA443
1 hour ago, dances with sheeple said:

EU leaders have been making noises about how "things are going to change" etc. for the relationship with banking in London, obviously they won`t be able to rise above a petty retaliation via taxes to try and damage London/UK banking, all good IMO let the banks eat each other, should be a fun watch? Privately EU "elites" will have steam coming out their a*rse that the UK sheeple dared to tell them to get f*ucked 🤑

The new EU taxes shouldn't affect us.   Not directly anyhow.

I don't fully understand this next story, it is just something someone told me.  Perhaps  others on here can enlighten us, but I'm not holding my breath.  Here goes.

Apparently Euros held in London financial institutions on behalf of eurozone countries are treated as "zero risk" and attracts no charges.  But this is special treatment, really they should be charged according to their real risk rating.  Britain could do away with this special treatment of euros with big implications for the eurozone.

Link to comment
Share on other sites

3
HOLA444
1 hour ago, kzb said:

The new EU taxes shouldn't affect us.   Not directly anyhow.

I don't fully understand this next story, it is just something someone told me.  Perhaps  others on here can enlighten us, but I'm not holding my breath.  Here goes.

Apparently Euros held in London financial institutions on behalf of eurozone countries are treated as "zero risk" and attracts no charges.  But this is special treatment, really they should be charged according to their real risk rating.  Britain could do away with this special treatment of euros with big implications for the eurozone.

I was thinking more that the rhetoric seems aimed at toppling London as the main financial hub for Europe, may be difficult to do but I think the EU wants revenge for Brexit for sure.

https://sputniknews.com/uk/202101231081856521-will-the-city-of-london-remain-europes-main-financial-centre-after-brexit/

Link to comment
Share on other sites

4
HOLA445
5 minutes ago, dances with sheeple said:

I was thinking more that the rhetoric seems aimed at toppling London as the main financial hub for Europe, may be difficult to do but I think the EU wants revenge for Brexit for sure.

https://sputniknews.com/uk/202101231081856521-will-the-city-of-london-remain-europes-main-financial-centre-after-brexit/

Yes that is for sure, the French have even built an area specifically to attract the financiers from London.

However, there are the new taxes including the transaction tax, and also there is that business with the euros I mentioned.  That's reportedly a strong bargaining chip.

Link to comment
Share on other sites

5
HOLA446
1 minute ago, kzb said:

Yes that is for sure, the French have even built an area specifically to attract the financiers from London.

However, there are the new taxes including the transaction tax, and also there is that business with the euros I mentioned.  That's reportedly a strong bargaining chip.

Hopefully the banks will start fighting each other like ferrets in a sack, maybe pushing up lending rates or something by accident, because there is a sizeable amount of sheeple who are going to borrow any crumb of debt brushed off the bankers table if it is cheap enough and help keep this ridiculous debt ponzi waggon on the road.

Link to comment
Share on other sites

6
HOLA447
1 hour ago, kzb said:

Yes that is for sure, the French have even built an area specifically to attract the financiers from London.

However, there are the new taxes including the transaction tax, and also there is that business with the euros I mentioned.  That's reportedly a strong bargaining chip.

The FT - a paper not best known for rabid Euroscepticism - suggests the City aint so bad...

https://www.ft.com/content/0c7c2597-4afd-4ade-bc19-02c3bbc53daf?mc_cid=eae238a59b&mc_eid=e11c6f4353

"Twelve overseas-based banks, which employed about 71,000 people in London five years ago, now have a reduced headcount of about 65,000. But most of the decline came from group-wide restructurings at Credit Suisse, Deutsche Bank and Nomura.

Nine of the world’s largest asset managers have ramped up hiring in the UK since the vote, with their total combined headcount rising 35 per cent to more than 10,000 employees over the period."

Link to comment
Share on other sites

7
HOLA448
7 minutes ago, dryrot said:

Nine of the world’s largest asset managers have ramped up hiring in the UK since the vote, with their total combined headcount rising 35 per cent to more than 10,000 employees over the period."

That's genuinely bad news. I didn't vote Leave for this to happen 😂

Link to comment
Share on other sites

8
HOLA449

The article also says:

London December 12 2020: FT survey of banks and asset managers finds employment shift to EU is yet to happen...  “This has not happened. Why? Because these things take time.”

 

Link to comment
Share on other sites

9
HOLA4410
10 minutes ago, DarkHorseWaits-NoMore said:

The article also says:

London December 12 2020: FT survey of banks and asset managers finds employment shift to EU is yet to happen...  “This has not happened. Why? Because these things take time.”

 

They've had 4.5 years.  Employment has been pretty stable over those years.  I think we are stuck with them for good.

Link to comment
Share on other sites

10
HOLA4411
11
HOLA4412
12
HOLA4413

MPs not only decided to remove from themselves the right to scrutinise trade deals (taking back control? Not that IDS et al would have read them) but declined to require the 'not for sale' NHS to be excluded from being on the table. Although I would note, that would be NHS in England, as it's devolved. 

Edited by NobodyInParticular
Link to comment
Share on other sites

13
HOLA4414
1 minute ago, NobodyInParticular said:

It's being raised through slightly higher contributions. It's been debated, done, dusted, and even discussed here. 

Link?

I don't think it is done and dusted.  If so, great, please give us some links to look at.

When we last discussed it on here, many contributors seemed to think €750 billion could just appear, unfunded by any higher contributions.  So if contributions will in fact be higher (as I thought) please let us know.

Link to comment
Share on other sites

14
HOLA4415
9 minutes ago, NobodyInParticular said:

So like TTIP, which didn't happen? 

The EU has been after a transaction tax since at least the financial crisis.  This recovery fund gives them the perfect reason.  Member states that were previously against it will now be bought off when they see what they'll get from the recovery fund.

Actually, does France not have such a tax already?  Not sure about this one but I think they might.

Link to comment
Share on other sites

15
HOLA4416
12 minutes ago, NobodyInParticular said:

MPs not only decided to remove from themselves the right to scrutinise trade deals (taking back control? Not that IDS et al would have read them) but declined to require the 'not for sale' NHS to be excluded from being on the table. Although I would note, that would be NHS in England, as it's devolved. 

Going back to TTIP, MEPs were allowed 15 minutes in a room to look at it, all phones etc taken off them before they went in.

I recall something similar happened just recently with something else, but can't think what it was just now.

Link to comment
Share on other sites

16
HOLA4417
4 hours ago, dances with sheeple said:

I was thinking more that the rhetoric seems aimed at toppling London as the main financial hub for Europe, may be difficult to do but I think the EU wants revenge for Brexit for sure.

https://sputniknews.com/uk/202101231081856521-will-the-city-of-london-remain-europes-main-financial-centre-after-brexit/

Revenge? It's called competition.

You and the increasingly manic KZB are starting to sound like that idiot Trump.

It's not a conspiracy or revenge...if companies do move then it is a cold hard business decision by individual companies to move...because Brexit has forced their hand. Get over it. Take responsibility.

Edited by IMHAL
Link to comment
Share on other sites

17
HOLA4418
26 minutes ago, kzb said:

The EU has been after a transaction tax since at least the financial crisis.  This recovery fund gives them the perfect reason.  Member states that were previously against it will now be bought off when they see what they'll get from the recovery fund.

Actually, does France not have such a tax already?  Not sure about this one but I think they might.

Apparently 40 countries have some form, including france

https://en.m.wikipedia.org/wiki/Financial_transaction_tax

Link to comment
Share on other sites

18
HOLA4419
19
HOLA4420
20
HOLA4421
2 hours ago, debtlessmanc said:

Apparently 40 countries have some form, including france

https://en.m.wikipedia.org/wiki/Financial_transaction_tax

Yes, looks like France, Belgium, Italy and maybe Sweden, although the situation in Sweden currently is not clear in that link.

That raises the question, will the EU transaction tax be additional to the French transaction tax?  Or will the tax be harmonised across the EU, in which case it will leave a hole in the French government finances?

Link to comment
Share on other sites

21
HOLA4422
3 hours ago, IMHAL said:

Revenge? It's called competition.

You and the increasingly manic KZB are starting to sound like that idiot Trump.

It's not a conspiracy or revenge...if companies do move then it is a cold hard business decision by individual companies to move...because Brexit has forced their hand. Get over it. Take responsibility.

The filth will never own their Brexshit. 

Link to comment
Share on other sites

22
HOLA4423
8 hours ago, dances with sheeple said:

I was thinking more that the rhetoric seems aimed at toppling London as the main financial hub for Europe, may be difficult to do but I think the EU wants revenge for Brexit for sure.

https://sputniknews.com/uk/202101231081856521-will-the-city-of-london-remain-europes-main-financial-centre-after-brexit/

It was our membership of the EU that allowed London to provide EU/Euro related financial services and gave it the scale required to compete with New York.  

Of course the EU now wants to repatriate these services, this was clear from the moment we voted for Brexit. However, they want to do this without causing market disruption so are content for it to be a 10-15yr process.  

Link to comment
Share on other sites

23
HOLA4424
15 hours ago, rollover said:

The Brexit costs are mounting.

‘Brexodus’ of jobs from City of London to continue

Mairead McGuinness has launched a plan to strengthen EU’s financial system post-Brexit. “There has been this discussion around movement of employment and investment. Already some has happened and it is likely that more will follow,” Ms McGuinness said. “While that is happening, it isn’t our objective that we’re trying to take some of the one million people’s jobs that are in the UK. But we are trying to take account of Brexit,” she added.

Ms McGuinness, who is in charge of financial markets and services, said that the commission was still lacking clarity on the British government’s intentions regarding regulation, and on how much it will seek to diverge from its past alignment with the bloc.

The EC has not yet made a series of equivalence decisions on British financial services, which would ease access for UK banks and financial firms to the single market by effectively deeming British regulations to be on par with those of the EU.

irishtimes

She is married to a sheep farmer on the border county with Northern Ireland she is from a farming family but  

is a former TV reality show host (the dreaded Celebrity Farm) the right person for the job?" the Irish Independent newspaper wondered.

The loss of many City jobs could be decided by a former tv reality show host (Esther McVey springs to mind).

 

  

Link to comment
Share on other sites

24
HOLA4425

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...

Important Information