dances with sheeple Posted January 24, 2021 Share Posted January 24, 2021 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 🤑 Quote Link to comment Share on other sites More sharing options...
kzb Posted January 24, 2021 Share Posted January 24, 2021 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. Quote Link to comment Share on other sites More sharing options...
kzb Posted January 24, 2021 Share Posted January 24, 2021 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. Quote Link to comment Share on other sites More sharing options...
dances with sheeple Posted January 24, 2021 Share Posted January 24, 2021 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/ Quote Link to comment Share on other sites More sharing options...
kzb Posted January 24, 2021 Share Posted January 24, 2021 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. Quote Link to comment Share on other sites More sharing options...
dances with sheeple Posted January 24, 2021 Share Posted January 24, 2021 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. Quote Link to comment Share on other sites More sharing options...
dryrot Posted January 24, 2021 Share Posted January 24, 2021 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." Quote Link to comment Share on other sites More sharing options...
Huggy Posted January 24, 2021 Share Posted January 24, 2021 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 😂 Quote Link to comment Share on other sites More sharing options...
DarkHorseWaits-NoMore Posted January 24, 2021 Share Posted January 24, 2021 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.” Quote Link to comment Share on other sites More sharing options...
kzb Posted January 24, 2021 Share Posted January 24, 2021 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. Quote Link to comment Share on other sites More sharing options...
NobodyInParticular Posted January 24, 2021 Share Posted January 24, 2021 7 hours ago, kzb said: It has to find money for its recovery fund somehow. If no transaction tax, some other tax will have to replace it in the plan. In any case the plan seems well advanced. It's a firm plan, nothing like Turkey joining. So like TTIP, which didn't happen? Quote Link to comment Share on other sites More sharing options...
NobodyInParticular Posted January 24, 2021 Share Posted January 24, 2021 6 hours ago, kzb said: That recovery fund is happening. They have to raise money for it somehow. It's being raised through slightly higher contributions. It's been debated, done, dusted, and even discussed here. Quote Link to comment Share on other sites More sharing options...
NobodyInParticular Posted January 24, 2021 Share Posted January 24, 2021 (edited) 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 January 24, 2021 by NobodyInParticular Quote Link to comment Share on other sites More sharing options...
kzb Posted January 24, 2021 Share Posted January 24, 2021 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. Quote Link to comment Share on other sites More sharing options...
kzb Posted January 24, 2021 Share Posted January 24, 2021 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. Quote Link to comment Share on other sites More sharing options...
kzb Posted January 24, 2021 Share Posted January 24, 2021 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. Quote Link to comment Share on other sites More sharing options...
IMHAL Posted January 24, 2021 Share Posted January 24, 2021 (edited) 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 January 24, 2021 by IMHAL Quote Link to comment Share on other sites More sharing options...
debtlessmanc Posted January 24, 2021 Share Posted January 24, 2021 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 Quote Link to comment Share on other sites More sharing options...
thecrashingisles Posted January 24, 2021 Share Posted January 24, 2021 51 minutes ago, kzb said: 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. You must be thinking of the UK government's Brexit impact reports. Quote Link to comment Share on other sites More sharing options...
MonsieurCopperCrutch Posted January 24, 2021 Share Posted January 24, 2021 UK firms told 'set up in EU to avoid trade disruption' 🤣 Quote Link to comment Share on other sites More sharing options...
kzb Posted January 25, 2021 Share Posted January 25, 2021 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? Quote Link to comment Share on other sites More sharing options...
MonsieurCopperCrutch Posted January 25, 2021 Share Posted January 25, 2021 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. Quote Link to comment Share on other sites More sharing options...
Confusion of VIs Posted January 25, 2021 Share Posted January 25, 2021 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. Quote Link to comment Share on other sites More sharing options...
coypondboy Posted January 25, 2021 Share Posted January 25, 2021 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). Quote Link to comment Share on other sites More sharing options...
rollover Posted January 25, 2021 Share Posted January 25, 2021 The UK saw a fall of more than 100% in new foreign direct investment last year from $45bn in 2019 down to -$1.3bn. BBC Quote Link to comment Share on other sites More sharing options...
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