British Expats

British Expats (https://britishexpats.com/forum/)
-   Take it Outside! (https://britishexpats.com/forum/take-outside-67/)
-   -   Post EU Referendum (https://britishexpats.com/forum/take-outside-67/post-eu-referendum-879308/)

Dick Dasterdly Oct 10th 2016 10:40 pm

re: Post EU Referendum
 
Looking at the criteria listed by that guy, I don't see anywhere in Europe even posing a major threat to London.

Dick Dasterdly Oct 10th 2016 10:47 pm

re: Post EU Referendum
 

Originally Posted by la mancha (Post 12073101)
I am really amazed at your naivety, really I am. This is the global financial sector you are talking about. One wrong move and there is economic meltdown across Europe, if not the globe. And you say two years is plenty of time to plan, build and fit out such a building etc.? This is not some petty public sector planning and building a building for a purpose by some civil servants. This is the global finance sector. One wrong move and the financial ‘ecosystem’ breaks and we have chaos. The City has taken decades to build and you think it can be replicated in two years?

And tell me what happens if we completely exit the EU in less than two years?

This is what a financial sector wants: a favourable regulatory environment, especially regarding employment; excellent transportation and communications infrastructure; availability of prime office space and luxury housing; good schools; good restaurants and cultural offerings; and finally, an intangible quality that includes a certain energy level and openness to an influx of highly paid, competitive City of London-Wall Street types.

No other European city has this infrastructure except London. None. And if anyone takes that away from London Europe will suffer.

London is unparalleled in its provision of services and raising capital, whether for projects in China, India or European small and medium-sized business.

The next port of call for businesses seeking to leave post-Brexit would not be Paris, Frankfurt and Amsterdam, but New York, as it is the only other global financial centre that could centrally and efficiently clear all 17 major currencies.

This is the reality.


Spot on.

As far as Europe is concerned, London has no serious competition.

:cool:

morpeth Oct 10th 2016 11:15 pm

re: Post EU Referendum
 

Originally Posted by Dick Dasterdly (Post 12073160)
Spot on.

As far as Europe is concerned, London has no serious competition.

:cool:

London may lose some business, but I agree no European capital can offer the same business environment for financial services. A few years ago I had a trip to UK and Europe related to an equity funding transaction, became quickly apparent how superior London was in terms of personnel and regulatory environment.

Dick Dasterdly Oct 10th 2016 11:19 pm

re: Post EU Referendum
 
I knew things were bad over there, but good grief !

German man found half way across Channel 'trying to get to UK' on a paddleboard | The Independent


Probably a friend of Ami, on the run from the Immigrants or Refugees. ;)

:rofl::rofl::rofl:

Scamp Oct 11th 2016 5:05 am

re: Post EU Referendum
 

Originally Posted by Dick Dasterdly (Post 12073123)
https://en.m.wikipedia.org/wiki/Glob..._Centres_Index

London Number 1

Frankfurt way down in 19th place, not even second most important in Europe.

No big changes expected anytime soon.

:cool:

For crying out loud, do you really need everything explaining to you?

No big changes? Are you joking? You voted for a colossal change and you think that means nothing for the City of London?

For starters, you're probably the type that doesn't want bankers to be getting huge bonuses - guess who's regulation that is? Yup, the EU brought in the cap. So maybe we'll zing that for starters, then the Express can start moaning about that again. YOu'll love that.

London is preferred because it's attractive for employees, passporting rights, it's well linked to the US, it is well linked to Europe, it has free movement in Europe and has easier labour laws than those in Germany / France (redundancies etc).

Now take some of those benefits away and impart some changes.
The Germans are already changing their employment laws. The UK won't be easy for Europeans to flow in and out of. The tarriffs / fees / charges etc will all have to be considered for banks based in London post-Brexit.

Here are some things to consider;


EU staff from 87 per cent of US investment banks are located in the UK, which is also home to 78 per cent of the region’s capital markets activity
(Source)

That's a lot of focus on London.

Bad news is;

JP Morgan said they would look to move up to 4,000.
Morgan Stanley say 1,000.
Goldman Sachs wouldn't rule out moving some / all o f their 6,500 staff.
Citi said they would move people.
HSBC have a huge operation in Paris and have said they will relocate people.
Deutsche Bank have said the same but to France and Germany, they've said they are worried that remaining in London means loss of some access to EU clients.

If anything, there could be a rush to leave as if picking Frankfurt or Dublin along side the competition, you'd better get there quick to hire the comparatively scarce resource.

I'm not saying for one second that London will end up empty and no banks based there. But believing for a minute that anything other than a soft-as-Dicks-brain Brexit will leave London in tact is naive.

But still, we've 'taken back control', which is nice.

TGA Oct 11th 2016 5:15 am

re: Post EU Referendum
 

Originally Posted by Scamp (Post 12073314)
For crying out loud, do you really need everything explaining to you?

No big changes? Are you joking? You voted for a colossal change and you think that means nothing for the City of London?

For starters, you're probably the type that doesn't want bankers to be getting huge bonuses - guess who's regulation that is? Yup, the EU brought in the cap. So maybe we'll zing that for starters, then the Express can start moaning about that again. YOu'll love that.

London is preferred because it's attractive for employees, passporting rights, it's well linked to the US, it is well linked to Europe, it has free movement in Europe and has easier labour laws than those in Germany / France (redundancies etc).

Now take some of those benefits away and impart some changes.
The Germans are already changing their employment laws. The UK won't be easy for Europeans to flow in and out of. The tarriffs / fees / charges etc will all have to be considered for banks based in London post-Brexit.

Here are some things to consider;

(Source)

That's a lot of focus on London.

Bad news is;

JP Morgan said they would look to move up to 4,000.
Morgan Stanley say 1,000.
Goldman Sachs wouldn't rule out moving some / all o f their 6,500 staff.
Citi said they would move people.
HSBC have a huge operation in Paris and have said they will relocate people.
Deutsche Bank have said the same but to France and Germany, they've said they are worried that remaining in London means loss of some access to EU clients.

If anything, there could be a rush to leave as if picking Frankfurt or Dublin along side the competition, you'd better get there quick to hire the comparatively scarce resource.

I'm not saying for one second that London will end up empty and no banks based there. But believing for a minute that anything other than a soft-as-Dicks-brain Brexit will leave London in tact is naive.

But still, we've 'taken back control', which is nice.

more project fear hysteria above from the remoaners.

the truth is London is the place to be.
Goldman Sachs 'undecided' on 2,000 staff move from the City if single market access is lost
http://www.telegraph.co.uk/business/...f-londons-sta/

Scamp Oct 11th 2016 5:18 am

re: Post EU Referendum
 

Originally Posted by TGA (Post 12073325)
more project fear hysteria above from the remoaners.

the truth is London is the place to be.
Goldman Sachs 'undecided' on 2,000 staff move from the City if single market access is lost

There's little point replying to you. When things are explained clearly enough and simply enough you just ignore because you've got no idea what to say.

Then you just say something including 'remoaner' or 'remainiac' or 'project fear'. Laughably moronic.

TGA Oct 11th 2016 5:33 am

re: Post EU Referendum
 

Originally Posted by Scamp (Post 12073327)
There's little point replying to you. When things are explained clearly enough and simply enough you just ignore because you've got no idea what to say.

Then you just say something including 'remoaner' or 'remainiac' or 'project fear'. Laughably moronic.

calm down luv. The thing is your whole narrative is based on worst case scenarios or out and out falsehoods.
My worry is how you lot cope when in a few years time when we are totally free from the EU and you need to find something else to moan about.

Scamp Oct 11th 2016 6:05 am

re: Post EU Referendum
 

Originally Posted by TGA (Post 12073333)
calm down luv. The thing is your whole narrative is based on worst case scenarios or out and out falsehoods.
My worry is how you lot cope when in a few years time when we are totally free from the EU and you need to find something else to moan about.

No it's not. It's based on genuine possibilities. What was false in there?

paulry Oct 11th 2016 6:18 am

re: Post EU Referendum
 

Originally Posted by TGA (Post 12073333)
calm down luv. The thing is your whole narrative is based on worst case scenarios or out and out falsehoods.
My worry is how you lot cope when in a few years time when we are totally free from the EU and you need to find something else to moan about.

They could always move to the EU - that'll give them something to moan about...

Red Eric Oct 11th 2016 6:22 am

re: Post EU Referendum
 

Originally Posted by la mancha (Post 12073101)
This is what a financial sector wants: a favourable regulatory environment, especially regarding employment; excellent transportation and communications infrastructure; availability of prime office space and luxury housing; good schools; good restaurants and cultural offerings; and finally, an intangible quality that includes a certain energy level and openness to an influx of highly paid, competitive City of London-Wall Street types.

No other European city has this infrastructure except London. None. And if anyone takes that away from London Europe will suffer.

Yeah, but what about all the overcrowding and the immigrants and the public services all collapsed under the strain and the wiped out traditional British culture and values (© A. Leaver)? Surely the result of the referendum hasn't actually changed any of that?

I expect there's probably more than one other European capital that could be persuaded to lay claim to "an intangible quality that includes a certain energy level and openness to an influx of highly paid, competitive City of London-Wall Street types". Reads well in a glossy mag but when you examine it, it sounds like the sort of piffle an advertising copywriter would come up with and could be applied to almost anywhere.

I don't even see why they'd need to be in the city, clogging it up and pushing up the price of everything, anyway. A shiny new business park somewhere would do the job, as long as it had all the right wires and stuff.

amideislas Oct 11th 2016 6:46 am

re: Post EU Referendum
 
A favourable regulatory environment?

I though one reason for leaving the EU was to get rid of all those "unfavourable" regulations that are killing business in the UK. You know, preventing financial services and other businesses from exporting and growing? The ones that are now threatening to leave?

GeniB Oct 11th 2016 6:55 am

re: Post EU Referendum
 

Originally Posted by Red Eric (Post 12073364)
Yeah, but what about all the overcrowding and the immigrants and the public services all collapsed under the strain and the wiped out traditional British culture and values (© A. Leaver)? Surely the result of the referendum hasn't actually changed any of that?

I expect there's probably more than one other European capital that could be persuaded to lay claim to "an intangible quality that includes a certain energy level and openness to an influx of highly paid, competitive City of London-Wall Street types". Reads well in a glossy mag but when you examine it, it sounds like the sort of piffle an advertising copywriter would come up with and could be applied to almost anywhere.

I don't even see why they'd need to be in the city, clogging it up and pushing up the price of everything, anyway. A shiny new business park somewhere would do the job, as long as it had all the right wires and stuff.

:goodpost: Good post and it is piffle.. There are quite a few major hubs in Europe that can and do provide all of the above and do it better.. Try reading Tyler Brule and Monocle magazine where he rates cities for all of that and their liveability to boot.. Munich. Amsterdam.et al.. The ONLY thing in the favour of the city of London is it's language. English.. and thats' because the place is largely owned and run by the Americans.. Hence Dublin being mooted as a place to move to. it has less to offer than mainland Europe..so the conclusion is .. Language being the big draw

amideislas Oct 11th 2016 7:26 am

re: Post EU Referendum
 
France offers help to banks considering Paris move after Brexit vote
The French authorities are eager to attract financial firms from London after the Brexit vote and have offered to handle their files in English if they decide to move to the French capital.

Dick Dasterdly Oct 11th 2016 7:45 am

re: Post EU Referendum
 

Originally Posted by amideislas (Post 12073400)
France offers help to banks considering Paris move after Brexit vote
The French authorities are eager to attract financial firms from London after the Brexit vote and have offered to handle their files in English if they decide to move to the French capital.

Aren't they all green eyed and desperate for a piece of our action ?

They have been trying it on every which way long before the referendum was announced, so nothing new there.

:cool:


All times are GMT. The time now is 2:41 pm.

Powered by vBulletin: ©2000 - 2022, Jelsoft Enterprises Ltd.
Copyright © 2021 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.