The many benefits of leaving the EU.

johnblack

Über Member
The tale about Amsterdam overtaking London was largely debunked when someone pointed out putting the trades down as Amsterdam based was as a result of EU procedure, but the risk management and settlement of those trades was still in London.
Yeah, I posted that the other week, but I couldn't be bothered to go back and re-post. Obviously as soon as it was posted there was the usual "yeah buts". Any kind of non-negative post is like catnip.
 

Milkfloat

An Peanut
Location
Midlands
What he said was also a useful reminder to Europhiles that Europe, and in particular the EU, does not represent the centre of the known universe.
It is literally the largest trading block on the planet, our biggest partner in trade and where 42% of that trade is in services, mainly financial. It could not have been more central.
 

JBGooner

Senior Member
It is literally the largest trading block on the planet,
Actually the EUs share of world GDP is less than that of NAFTA and indeed just that of the the USA, less than that of China and would be less than that of the Trans-Pacific Partnership should the UK join it.
 

Rocky

Reprobate
Actually the EUs share of world GDP is less than that of NAFTA and indeed just that of the the USA, less than that of China and would be less than that of the Trans-Pacific Partnership should the UK join it.
But which trading block is geographically the nearest (important when selling perishable goods)? Which has historically been the largest market for our exports and imports? Which, until this January, had frictionless access?
 

the snail

Guru
Location
Chippenham
A bold assertion, but one which may lack, er, veracity.

The tale about Amsterdam overtaking London was largely debunked when someone pointed out putting the trades down as Amsterdam based was as a result of EU procedure, but the risk management and settlement of those trades was still in London.

Barclays' biggest banker Jes Staley wasn't bothered about Brexit in his latest financial statement.

Quite the reverse, he said profits from the bank's City of London trading arms had helped prop up the group which had suffered Covid-related problems in its traditional banking activities.
The analyses I've seen suggest that brexit isn't a huge problem for the industry - they can move their money and their business abroad pretty easily. Also the advantages that London has - english speaking, geographically between US and far east, and a good pool of talent remain. The main effects are likely to be reduced growth in the future with investment going abroad, jobs that would have been created here will go elsewhere, and reduced tax income for the UK.

View: https://www.youtube.com/watch?v=i77fVkmX1HM
 
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