British Expats

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-   -   Post EU Referendum (https://britishexpats.com/forum/take-outside-67/post-eu-referendum-879308/)

Bipat Oct 10th 2016 7:25 am

re: Post EU Referendum
 
Just read this this morning----

Brexit provides India chance to hike trade with UK: Navtej Sarna - The Economic Times

All 'go' here, with BRICS summit in a few days and Mrs May arriving in November.
(Wish the torrential rain would stop though----the monsoon has extended---although the brilliant heavy monsoon has helped agriculture and the economy++.)

amideislas Oct 10th 2016 8:37 am

re: Post EU Referendum
 
The Tory record on trade deals shows Brexit Britain has much to lose
The Tories vetoed the EU's attempts to protect our steel industry.


The magnet of access to a market of half a billion people has brought the world to the EU’s door. The EU has agreements or is negotiating deals with around two-thirds of the world’s population. This has opened up previously closed or partially closed markets, creating and protecting millions of British jobs.

Following Brexit, the UK will have to negotiate fresh deals to protect the preferential access we have to numerous markets across the globe. They will face two handicaps.

Firstly, there is no expertise in Whitehall in negotiating trade deals. It will take years and a significant growth in staff for the UK to be in a position to negotiate on an even basis with other countries.

Secondly, while we are an important market of 60m consumers, that is a fifth of the clout that the EU currently brings to the table.


DaveLovesDee Oct 10th 2016 8:57 am

re: Post EU Referendum
 

Originally Posted by TGA (Post 12072436)

Fair enough.

Which means we can repeatedly ridicule lying Dick for a lie he told once.

amideislas Oct 10th 2016 9:20 am

re: Post EU Referendum
 
Know How to Strike a Trade Deal? Brexit Britain Wants You, Fast - Bloomberg

But only if you're not a "foreigner"

Britain barrs foreign experts from Brexit work - Reuters

amideislas Oct 10th 2016 9:55 am

re: Post EU Referendum
 
Meanwhile:

Eurozone investor confidence hits post-Brexit high | FT.com
More encouraging signs of resilience in the eurozone economy after the UK’s Brexit vote.


Investor confidence in the 19-country bloc hit its highest level since before the EU membership referendum this month, driven along by a robust performance in Germany, according to a closely-watched index compiled by German research group Sentix.


The Sentix investor survey hit 8.5 in October, a healthy rise from 5.6 reading registered last month, and better than the 6.3 forecast by analysts. October’s decent score means the index is now back to its pre-Brexit vote levels having suffered a sharp decline in July.


A sub-index of investor expectations also rose four points to its best level since December 2015, with Sentix calling the October survey “a turning of the tide” in the global economy.


Germany was a particular bright spot for the eurozone with the survey’s indicators pointing to a “boom” in Europe’s largest economy. Germany’s overall confidence level reached 27.7 this month – its highest since May 2015


“In the recent months, the sentix economic indices have at any time indicated that the German economy is booming”, said the survey.


Fredbargate Oct 10th 2016 10:47 am

re: Post EU Referendum
 
JP MORGAN CEO: Brexit makes euro collapse '5 times more likely'

https://uk.finance.yahoo.com/news/jp...083428128.html

amideislas Oct 10th 2016 11:03 am

re: Post EU Referendum
 

Originally Posted by Fredbargate (Post 12072614)
JP MORGAN CEO: Brexit makes euro collapse '5 times more likely'

https://uk.finance.yahoo.com/news/jp...083428128.html


From your link:


Goldman Sachs is preparing plans to move around 2,000 British jobs overseas if the UK loses its financial passporting rights after Brexit, the Sunday Times reported.

The newspaper cites an unnamed City sources as saying that the investment bank is looking at moving a third of its 6,000 strong UK workforce to mainland Europe in the event of a "Hard Brexit."

The loss of passporting rights would be devastating to the City of London. The Financial Conduct Authority (FCA) said earlier this year that 5,500 UK companies rely on passporting rights, with a combined turnover of £9 billion.
Then there's this, of course:

3 hours ago
Goldman Sachs, JPMorgan, Morgan Stanley mull London exodus
Banks including Goldman Sachs are considering relocating some operations away from London, as Frankfurt is seen dialing up its attempt to attract financial services firms to the city.


Goldman Sachs is drawing up plans to potentially transfer around 2,000 employees to a rival European city should the U.K. lose its passporting rights, British newspaper The Sunday Times reported this weekend.

Speaking at the same conference, JPMorgan boss Jamie Dimon posited that Brexit would create years of uncertainty for firms with significant London-based operations. According to a report in the Financial Times, Dimon also confirmed that his bank was waiting for clarity on how to respond to the U.K.'s impending withdrawal from the union and whether it would need to relocate business from the country.
Earlier this year
JP Morgan: Roles may move out of UK 'in the months ahead'


JP Morgan became the first big institution to warn of positions moving from the UK after the vote to leave the European Union, with a memo to staff saying "the location of some roles" may need to move "in the months ahead".

The JP Morgan memo said it may also need to make changes to its legal entity structure over the same timeframe. It was signed by chief executive Jamie Dimon with asset management chief Mary Erdoes and investment banking chief Daniel Pinto.

Visiting the Wall Street bank’s Bournemouth office in early June, Dimon had said that if the UK voted to leave, “we may have no choice but to re-organise our business model here”, adding at the time: “Brexit could mean fewer JP Morgan jobs in the UK and more jobs in Europe."

HSBC's chief executive Stuart Gulliver said in February that jobs could move abroad as the result of Brexit. He said at the time: “If the UK was to leave the EU, depending on the terms that were negotiated, that could have a significant negative impact on those markets businesses, which could result in a chunk of jobs moving out of the UK.” People familiar with the bank’s plans told FN that Paris was among the locations being considered.

Another said: “If market access is jeopardised and talent mobility as well, it may trigger job creation moving out of the UK in our many continental European offices.”

The chief executive of a third firm said it was “making contingency plans to outsource services from the UK to Ireland”.

jimenato Oct 10th 2016 11:34 am

re: Post EU Referendum
 

Originally Posted by Fredbargate (Post 12072614)
JP MORGAN CEO: Brexit makes euro collapse '5 times more likely'

https://uk.finance.yahoo.com/news/jp...083428128.html

Yes, Fred. Brexit is bad news all round.

scrubbedexpat099 Oct 10th 2016 12:07 pm

re: Post EU Referendum
 
How can something inevitable be 10x more likely?

amideislas Oct 10th 2016 12:27 pm

re: Post EU Referendum
 
Well, at least we'll finally be "free" again.

I reckon it'll be as good as the freedom you feel when using Fairy liquid, or Virgin mobile pay as you go, or maybe a Barclay's "freedom" card, or OB "freedom" tampons.

It's gonna be great.

Lion in Winter Oct 10th 2016 12:45 pm

re: Post EU Referendum
 
Lifted from another thread...

https://photos.smugmug.com/photos/i-.../i-rq3R4fF.gif

GeniB Oct 10th 2016 1:06 pm

re: Post EU Referendum
 

Originally Posted by Lion in Winter (Post 12072684)


Saw that on Nutek's.. Brexit in a nutshell...lol....

GeniB Oct 10th 2016 1:10 pm

re: Post EU Referendum
 

Originally Posted by jimenato (Post 12072630)
Yes, Fred. Brexit is bad news all round.

Love Dimon's comments.. 'Brexit will reduce the GDP of the UK.for yrs . but thats not a disaster. It will cause problems for yrs to come.. but that's not a disaster' WHAT planet is he living on the smug B*****d? Ahhh yes one of the 'Architects of the downfall' at JP Morgan.

Bipat Oct 10th 2016 1:41 pm

re: Post EU Referendum
 
Any positive reports re Brexit always ignored!!
High Commissioner to the UK leaving to become ambassador to US.
Brexit-----"Chance to bring America, the UK and India closer"! See post 5866.
But oh dear--- 'those dreadful foreigners'.

EMR Oct 10th 2016 1:47 pm

re: Post EU Referendum
 

Originally Posted by Bipat (Post 12072731)
Any positive reports re Brexit always ignored!!
High Commissioner to the UK leaving to become ambassador to US.
Brexit-----"Chance to bring America, the UK and India closer"! See post 5866.
But oh dear--- 'those dreadful foreigners'.

I will ask you again, how many UK jobs will these trade deals create.
How many UK manufacturing companies will reopen.
How many tarrif free markets will be opened up to UK companies
Trade is about equal partners, free access, nothing you have posted suggests that.


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