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kaiser78
30th June 2016, 08:06
British banks could still thrive in Europe thanks to loophole | This is Money (http://www.thisismoney.co.uk/money/markets/article-3664539/British-banks-thrive-Europe-Loophole-allow-lenders-doing-business-reforms-set-introduced-2018.html?ito=email_share_mobile-masthead)

FatLazyContractor
30th June 2016, 08:07
Even Suity can write something about the economy on dailymail and get followers.

:winker:

CretinWatcher
30th June 2016, 08:12
Let's hope something works. Whether you hate bankers or not, the fact remains that London, and particularly the City, generates 25% of total British GDP.
Anything that fooks financial services means, given industrial weakness, that the country as a whole is fooked.

SueEllen
30th June 2016, 08:13
I've heard from a few financial advisers never to follow the financial advice given in the Mail as it's frequently incorrect.

kaiser78
30th June 2016, 08:14
Even Suity can write something about the economy on dailymail and get followers.

:winker:

It was in a number of papers yesterday, not just the mail.

GB9
30th June 2016, 08:16
I've heard from a few financial advisers never to follow the financial advice given in the Mail as it's frequently incorrect.

Never follow any financial advice in any newspaper. They won't be there when it goes pear shaped.

kaiser78
30th June 2016, 08:20
Never follow any financial advice in any newspaper. They won't be there when it goes pear shaped.

I am going to follow this one closely because when Mifid2 is introduced later this year (I think it is) this loophold will become policy and therefore will give the UK banks the passport equivalent they need, which Remainers are fretting about left right and centre.

Watch this space...

CretinWatcher
30th June 2016, 08:23
I am going to follow this one closely because when Mifid2 is introduced later this year (I think it is) this loophold will become policy and therefore will give the UK banks the passport equivalent they need, which Remainers are fretting about left right and centre.

Watch this space...

Mifid2 isn't exactly equivalent to passport rights though, is it? It only covers certain narrow areas, from the liitle I know, admittedly.

BlasterBates
30th June 2016, 08:25
Right and there will be no problem with this loophole:

HMRC Scheme Enquiries (http://forums.contractoruk.com/hmrc-scheme-enquiries/)

kaiser78
30th June 2016, 08:35
Mifid2 isn't exactly equivalent to passport rights though, is it? It only covers certain narrow areas, from the liitle I know, admittedly.

I don't know too much on this either, but on a serious note, if the article is true it will alleviate one of the major worry beads of the Remain supporters.

Milkyway
30th June 2016, 08:53
Bremainers don't have to worry anyway :)... since UK will never exit the EU membership.
Wait and see!
There is no concrete plan for post-brexit. We can see all sorts of reneges happening right now from all quarters of the leaver leads - NHS investment, immigration, etc.

No one knows what is in store after invoking Article 50, especially with new trade deals with Non-eu, the time it will take to secure them, and even if there are deals to be made to access the EU single market - there is this serious fear about how to deal with the freedom of labour that needs to be allowed in one form or the other.

We will remain as full EU members for a long time to come, and I am talking about decades here.

BlasterBates
30th June 2016, 09:01
The whole article 50 was designed to be a poisoned chalice and it is. You pull the trigger and your economy goes down the toilet while you're negotiating.

Boris or perhaps Theresa will be mounting a motorbike to play chicken against the EU in their juggernaut.

What makes it worse is businesses will be migrating to the EU as the negotiations progress so ameliorating the negative affects in the EU.

The EU have offered an olive branch they've indicated if Boris is in they want immediate withdrawal if a "remain" leader is in charge they get leeway.

CretinWatcher
30th June 2016, 09:08
The whole article 50 was designed to be a poisoned chalice and it is. You pull the trigger and your economy goes down the toilet while you're negotiating.
.

This, absolutely.
Although I would say that your economy accelerates its process of going down the toilet, after article 50.
The going down the toilet bit starts even before because no one who wants access to the single market will invest here while there is uncertainty.
The best you can hope for is that existing investments are too complicated/expensive to move.