UK Finance......

[transam]

more nonsense from way har bee

 

[IWalkLikeHimaMartian]

more nonsense from way har bee

You read my comment then?

 

[Brigadier]

Yep, looks like they're getting ready to leave.

As a City observer said yesterday, "Good luck, and enjoy your holiday; because you'll be back."
Frankfurt is a city of 750k, while London has 12 million.
They are incomparable in terms of "pull".

 

[JohnD]

As a City observer said yesterday, "Good luck, and enjoy your holiday; because you'll be back."

yes, you can always rely on the opinion of an anonymous source.

As Buffoon said, everything will be fine. It'll be great.

Right?

 

[Brigadier]

He wasn't anonymous, I just couldn't recall his name right at that moment.

I think it was this guy

https://en.wikipedia.org/wiki/David_Buik

 

[JohnD]

it says he mostly worked in the betting industry.

Looks like he wrote that himself. Bit of a self-publicist?

An elderly white man who supports Leave.

No news there.

 

[Brigadier]

He was answering the question, "will they really up sticks entirely, and go to Frankfurt?"
He was of the opinion that they wouldn't.

 

[Notch7]

I suspect that even if Brexit was reversed (by Parliament throwing out 'the deal' - when we know what 'the deal' is, or no deal), a second referendum, a change of PM, or another election, the damage to UK economy is already substantial and probably irreversible for many years.

Depending on the disarray or the timing of the 'change of heart', the economic damage might be permanently irreversible.
If sufficient financial institutes move out of London, and a new successful financial 'city' is established in Europe, there would be no sense in those institutes moving back to London if Brexit was reversed.

It is a worry, of course, especially because the service industry makes up such a large percentage of gdp.

However London is the largest financial market in world. None of the European cities are even in the top 10.

Its most likely there will be some loss, most of which will relate to the Euro passporting. Probably the banks will set up satellite offices in a European city.

There is also the language. I can see lots of worldwide banks, like US, Singapore, Chinese etc will prefer to operate from an English speaking city, since for most of these that will be their 2nd language.

 

[IWalkLikeHimaMartian]

There is also the language. I can see lots of worldwide banks, like US, Singapore, Chinese etc will prefer to operate from an English speaking city, since for most of these that will be their 2nd language.

In my experience many, many under 40's Europeans speak good English, the majority of under 30's speak excellent English, and English (or another European language) is taught in most western European primary schools.
There are other financial centers around the world that also trade in English.
I suspect that the majority of employees in the financial industry in London are not naturally English speakers, as you accept yourself. So the language of the financial industry would remain English, but in another non-UK city. These other candidate cities are evidently not only not bothered, but are positively enthusiastic, about a potential influx of English speakers (and other languages).

 

[IWalkLikeHimaMartian]

David Davis is still refusing to release the Brexit impact reports.
If you want to sign the letter requesting he does so, you can here:
http://www.moreunited.uk/release_the_brexit_impact_studies?recruiter_id=8937

I would have thought that even the most ardent quitters would be interested in these reports.
Why is David Davis refusing to release them?

 

[Roger928]

Why is David Davis refusing to release them?

Full of bad news mebbe?
Hopefully it will.