General Election UK, June 8th...

[Hermit]

The City will lose it's 'passport' status after Brexit - it will no longer serve as the primary access point into the EU financial services sector for those outside the EU.

A point failed to be appreciated by the Brexiteers waiting for their fantasy Brexit.

You might be right. They just did an article on the news about HSBC.
They are moving their headquarters from London.

To Birmingham.

You got that wrong. HSBC is creating a separate UK retail branch, headquartered in Birmingham. Along with JPMorgan Chase, Lloyds Banking Group, Barclays and UBS Group among others, HSBC Holdings will be headquartered in Europe by the end of next year. Paris, Dublin and Frankfurt are the popular destinations.

[mistermack]

We'll see.
They have spent £200 million on the Birmingham pad. Not really evidence of someone pulling up the anchor.

[Alan B]

Then there will be NI & Scotland - Poundland, here we come.

[Hermit]

We'll see.
They have spent £200 million on the Birmingham pad. Not really evidence of someone pulling up the anchor.

Chickenfeed. Globally, the group is capitalised at about US$2.4 trillion. Five years ago its US branch paid a US$1.9 billion fine without missing a beat. £200 million (1% of market capitalisation) for a national head office where the bulk of its UK business will be done actually sounds modest for a branch capitalised somewhere north of £20 billion and returning better than 7% on equity. Head office staff will be 1000 bods.

Coincidentally its UAE head office, scheduled to open next year, will cost about the same amount.

[Brian Peacock]

When people choose financial services, I doubt that their first priority is whether they come from inside the EU.
It's expertise, and current and historical stability that they value.
London has a huge reputation for both.
The EU has some pretty fundamental underlying financial weaknesses, and I doubt very much that it's primed to take much business from London.

Will Germans eventually agree to prop up Italians, or the Spanish, or the Greeks, etc etc ?

If they don't, there will be some pretty major chaos.

The prospects for financial security are probably better with London than the EU.

We're not talking personal services here, but business, corporate and institutional services. Sure, 'financial security' in this sector relies on things like regulatory stability and administrative predictability, we all accept that - but it relies entirely on market access. The 'passport' status of City institutions, which guaranteed that UK banks, insurers and asset managers could sell their services freely across EU as well as giving firms based in Europe reciprocal access to British financial markets, depends on Britain's membership of the EU. Britain is soon to be disengaged from those markets, removing in one fell swoop all regulatory gateways into European markets. Foreign investors are going to be moving their business straight to Frankfurt along with their European headquarters and staff.

Having said that, stories about how the The City will rally to the challenges posed by Brexit may turn out to be true - it would be great if they do and I earnestly hope that they do. But at the moment they are just that, stories indistinguishable from hopes, desires, dreams, or bets and hedges on the future prospects of Britain as an independent trading nations.

[Brian Peacock]

Mergeded.

[DaveDodo007]

Thank fuck for the UK, the only sensible country on the planet. The only people who can see through the globalist, corporate, open borders stupidity for what it is.

Um, dude, you've got a Tory government. There are few governments on the planet that are more neoliberal (i.e. corporatist) than your government.

FFS do you think I'm not aware of this? The only way to redpill conservative politicians is to make them face up to the sperging out of lefty/liberals once they know they are losing control. Once they see that they have popular support the Tories might even grow some balls for once in their lives. Otherwise ten years down the line it is Fascist government and I don't want that and I can be as sure as hell you don't want it.

[pErvinalia]

Thank fuck for the UK, the only sensible country on the planet. The only people who can see through the globalist, corporate, open borders stupidity for what it is.

Um, dude, you've got a Tory government. There are few governments on the planet that are more neoliberal (i.e. corporatist) than your government.

FFS do you think I'm not aware of this?

Apparently you aren't, going by what you write.

Otherwise ten years down the line it is Fascist government and I don't want that..

Unless it's Putin's brand of fascism or Trump's brand of proto-fascism.

[DaveDodo007]

Thank fuck for the UK, the only sensible country on the planet. The only people who can see through the globalist, corporate, open borders stupidity for what it is. The loony left is going to be BTFO and the only worry for us Tories is she will win too many seats which could mean she gets to ignore the hard line Euro skeptics and go for a soft Brexit. Though the way the fucking krauts and frogs and the rest of EU are behaving at the moment it looks like we will get a hard Brexit anyway.

All that has happened is that the EU have published their negotiating position, which is more than Mrs May has done. What's happening with the Tories now is that the ground is being prepared and seeded to pin all responsibility for all errors and failures on the EU from now until we finally rejoin in 20 years. ATM Mrs May is desperately trying to convince the nation that everbody is out of step but her.

Lol. Do you even believe this is true, Lets just say we live in lala land and it is all true. Can you even imagine what the British press are going to do with this? They are going to have a field day, especially as they get to bash the krauts. It is going to be portrayed as under siege brave Brits standing up to the Hitler EU. Don't take my word for it, just do a poll on whether we should nuke the EU or give them any money, are you seriously deluded as to what would be the popular option?

[DaveDodo007]

Thank fuck for the UK, the only sensible country on the planet. The only people who can see through the globalist, corporate, open borders stupidity for what it is.

Um, dude, you've got a Tory government. There are few governments on the planet that are more neoliberal (i.e. corporatist) than your government.

FFS do you think I'm not aware of this?

Apparently you aren't, going by what you write.

Otherwise ten years down the line it is Fascist government and I don't want that..

Unless it's Putin's brand of fascism or Trump's brand of proto-fascism.

Apparently your idea of fascism seems to be the working class having the audacity to want a say about the conditions they have to live and work in. Stop looking down your nose at poor and uneducated people and have some sympathy for once in your life.

[DaveDodo007]

The EU are keeping all talks public which infuriates May as she wanted secret talks so the disembowelling of the UK can be kept from the UK citizens.

Why would she as most of the UK is up for nuking Brussels and Germany, If your degenerate country gets caught in the fall out I doubt anybody would care.

[DaveDodo007]

Would those on £10k pa get a 200% vote? Would the unemployed get a 0% vote?

I think a democratic system weighted in favour of the poor is about as sensible and workable as one weighted in favour of the rich - that is, it renders politics and governance an exercise in servicing the interests of nominal groups on the basis of income. The way to counteract the undue political influence and interference of of the wealthy - or any other special interest group - is state funding for political parties and stricter regulations around donations and campaign spending.

Last year the Observer reported that at a 2015 fund-raising event for the Conservative party a Russian oligarch bid £160,000 for his wife to have a game of tennis with Boris Johnson and David Cameron. In March this year the party was ordered to pay the maximum possible fine (£70,000) for spending irregularities during the 2015 general election campaign. By my reckoning the imbalance in the system is highlighted in the conjunction of those two pieces of information.

Blah, blah fucking blah. Seriously fuck off, maybe the working class are not a gullible moronic as you are, did that even cross your tiny mind? Yay equality through (communism/socialism and it's nefarious incarnate cultural Marxism.) How about every single time you have tried your political philosophy it has failed with over one hundred million body count. I mean how sick and evil are you motherfuckers not to take into account this level of evil which is not even scratching the surface of your inforced indoctrination of lefty/liberal views(Lol how is it not like religion and it wouldn't survive without it.)

I like not having to stand in bread queues so sue me. I like fre speech, freedom of expression and freedom of conscience along with the right to assembly. You piece of shit lefty/liberals offer nothing but dictatorship

[JimC]

This post: http://rationalia.com/forum/viewtopic.p ... 3#p1706573

contains a personal attack on a fellow member. Considering the frequency of personal attacks in your posts, this warrants a week's suspension.

[pErvinalia]

Thank fuck for the UK, the only sensible country on the planet. The only people who can see through the globalist, corporate, open borders stupidity for what it is.

Um, dude, you've got a Tory government. There are few governments on the planet that are more neoliberal (i.e. corporatist) than your government.

FFS do you think I'm not aware of this?

Apparently you aren't, going by what you write.

Otherwise ten years down the line it is Fascist government and I don't want that..

Unless it's Putin's brand of fascism or Trump's brand of proto-fascism.

Apparently your idea of fascism seems to be the working class having the audacity to want a say about the conditions they have to live and work in.

That's socialism and social democracy. What are you talking about?

Stop looking down your nose at poor and uneducated people and have some sympathy for once in your life.

You are the neoliberalism and fascism supporter. You definitionally don't give a stuff about the poor and disadvantaged. If you did you'd be a staunch supporter of Corbyn.

[Scot Dutchy]

Hey Dodo are you one of the 1% otherwise look forward to chaos and poverty. After Brexit there will be nothing left of Little England. Your tory friends will have stripped the country bare. Welcome to the third world.