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Hi from France
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Posts posted by Hi from France
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On 2/11/2021 at 7:33 PM, bkkcanuck8 said:
Now that the UK is out of the EU, there is no reason to facilitate UK continuing to trade EU securities (especially in EU dollars), as the public companies should be regulated under EU regulations... and I suspect trading on another public exchange makes that more complicated.
Indeed
Now the major (as well as a bigger and bigger) share of financial markets are derivatives.
They are much less bound by regulations, and (as it seems), some transfer to US or Asian marketplaces
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After shares trading in Amsterdam, and the banking authority in Paris, the USA seems to be the biggest winner taking another market, derivative products: swaps in euros are leaving London.
QuoteTrading in euro-denominated swaps has tumbled out of London to rival financial centres since Brexit, in another hit to the UK's financial centre.
QuoteEuro-denominated swaps trading fell from almost 40pc of the market last July to 10pc last month, according to data from IHS Markit on Thursday, reported by the Financial Times, while trading on US platforms doubled to 20pc.
https://www.telegraph.co.uk/business/2021/02/11/euro-derivative-trading-floods-london-brexit/
We might want to check, but I think funds management mainly went to Luxembourg.
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1 hour ago, david555 said:Quote
. The change prompted €6.5bn (£5.7bn) of daily transactions to move from the UK on 1 January – around half of London's European share trading business.
The first question was "what was Europeans share trading business doing in a non-€ country in the first place?" .
The second question is "how can we take back the other half? "
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1 hour ago, tebee said:But it's not just £25 cheeses Brexit is breaking - also our much more profitable financial services industry
Amsterdam ousts London as Europe’s top share trading hub
https://www.ft.com/content/3dad4ef3-59e8-437e-8f63-f629a5b7d0aa
Fine: taking back control of our own shares market, and I hope we can also regain control of the rest: financial services contributes approx. £132bn a year to the British economy
... and a lot of this came from the EU.
We just want to regain control of our own financial markets and services, along with the revenue streams and jobs that comes with it: nothing more, nothing less
a lot of it didn't benefit the british people anyway, so it's not such a problem
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4 hours ago, candide said:
The problem is that the EU doesn't which regulation will prevail after "taking back control". Economists backing Brexit are advocating for a deregulation of the financial sector, Singapore upon Thames, etc...
as a consequence, millions of households could face higher finance costs
QuoteBank of England Governor Andrew Bailey has warned that the European Union is poised to lock Britain out of its vast banking market, in a move that would push up the cost of finance for millions of consumers on both sides of the Channel.
Mr Bailey said that Brussels would be making a mistake if it refuses to grant access for the City - with serious repercussions for ordinary people.
The decision could drive mortgage interest rates higher, land businesses which trade internationally with more expensive currency deals, and hit households with steeper insurance premiums as everyday financial products depend on activity in big international markets.
https://www.telegraph.co.uk/business/2021/02/10/dont-cut-city-bailey-warns-brussels/
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Lord Frost said the UK wanted "friendly cooperation between sovereign equals as our vision of the future",
Quotebut said: "I don't think it has been quite the experience of the last few weeks, if we are honest about it."
video
https://www.bbc.com/news/av-embeds/56002176/vpid/p096hjd2
article
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16 minutes ago, katana said:
If UK waters are too dirty for EU consumption of their shellfish, perhaps the EU should not be fishing
there either? Maybe the UK could help them by impounding their boats?
yeah another way for improving UK-EU relations, good idea.
retaliations are underway now, typical of national-populists who cannot understand, leaving the EU so fast and without a proper deal raises plenty of problems as soon the the UK is treated the same way as any other third country.
leave without considering and anticipating the consequences, then threaten first instead of discussing,
QuoteFrench fishermen could face lengthy delays before gaining access to the UK’s fishing waters under retaliatory measures being discussed if Brussels refuses to cave on its live shellfish ban
we're headed for another escalation, very clever move.
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3 hours ago, bannork said:
More teething troubles, JD boss getting hot under the collar.
well he's got a problem
QuotePeter Cowgill, chairman of JD Sports, said the red tape and delays in shipping goods to mainland Europe meant "double-digit millions" in extra costs.
...but he's got the solution as well
QuoteHe told the BBC JD Sports may open an EU-based distribution centre to ease the problems, which would mean creating jobs overseas and not in the UK.
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Opening a big warehouse distribution centre in mainland Europe "would make a lot of economic sense," he said. He estimated such a facility would employ about 1,000 people.
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after the teething issues we have another metaphor from Gove
Quote“We all know that when an aeroplane takes off, that’s the point when you sometimes get that increased level of turbulence,”
Quote“But then eventually you reach a cruising altitude and the crew tell you to take your seatbelts off, and enjoy a gin and tonic and some peanuts.
the sunlit uplands are really high up in the air ????
and the diplomatic representation row is still denied
QuoteBoth Gove and Frost were forced to deny that the UK was engaged in a tit for tat struggle with the EU over the recognition of diplomatic representatives after a near-year-long row about the UK’s refusal to grant full diplomatic status of the EU mission to the UK
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1 hour ago, 7by7 said:Opinion polls suggest that he isn't.
See Boris Johnson approval rating for example. On 18th January 2021, in answer to the question "Do you think that Boris Johnson is doing well or badly as Prime Minister?" 39% said "Yes," while 55% said "Yes."
you mean
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2 hours ago, 7by7 said:
Actually, no; the majority of us Brits did not vote for them.
In 2019 the Tories received 43.6% of the vote. An increase of only 1.2% over their 2017 share; a mere 0.1% better increase than the Greens.
Whilst Labour's share went down by a massive 7.8%, the largest share of those lost votes went to the LibDems who increased heir share by 4.2%.
2019's turnout at 67.3% was also lower by 1.5% than 2017's.
(Source)
without the "first pass the post" system, things would be very different..
as far as brexit is concerned, we would have a softer brexit with a more "normal" government in power instead of these idiots ?
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10 hours ago, whatsupdoc said:
You wanted frictionless trade, you got tradeless friction....
nice one ????
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15 hours ago, Loiner said:I’ve never seen anyone open a PowerPoint or provide links in a debate. Are you trying to make up new rules?
as the forum moderator just said, these are just the rules of a proper debate, and there are many readers of our exchanges, so they do need to have a degree of credibility
no when you have no facts to back you claim, you need to be clear about that, instead of presenting them as the truth
You could start your post with a mention like
"giving my personal opinion here"
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Things are going to get really thorny
QuoteBritish firms are warning of further Brexit red tape as the government prepares to introduce a long list of new controls on imports from the European Union in April and July.
QuoteIn the coming months further checks are due to be phased in at the UK border, controlling everything from the import of sausages and live mussels to horses and trees, as well as the locations these checks can take place.
QuoteOne logistics firm warned the situation had “disaster written all over it”
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On 2/3/2021 at 1:48 PM, snoop1130 said:UK asks EU for Brexit grace period extension to 2023, BBC reports
Gove had written to the European Commission’s vice president, Maros Sefcovic, to ask for urgent political solutions.
All he can do is write a nice letter? Could he not summon the EU ambassador?
Wait
There are no active embassies between the UK and the EU.
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3 minutes ago, Loiner said:
What sort of debate allows you to trawl the Internet for links to support your statement?
This is a discussion forum, not dissertation marking and source material is not a criteria.
Taking part in a debate does not just mean saying what you have on your mind.
It means going through the effort of proving your points, taking account things that are true and rejecting things that are false.
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8 minutes ago, 7by7 said:But we were still subject to all the rules and regulations until the end of the transition period; midnight on 31st December 2020.
As explained ad infinitum; we used those rules and regulations to unilaterally authorise use of the Pfizer-BioNTech vaccine.
We have repeated this fact over and over.
No matter how much proof we bring, how many times we repeat it
they simply cannot factor it in
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35 minutes ago, Loiner said:
Sounds like you want me to go through your posts and dance for you? Not happening.
Exactly: that's called sourcing your claims and it's a basic requirement when debating.
Can't you just do that?
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3 hours ago, vinny41 said:
Northern Ireland students can take part Erasmus because its being funded by the Republic of Ireland
NI students can have British and Irish passports and if they want to join Erasmus they need to register with an Republic of Ireland college that takes part in Erasmus
Interesting
Seems likely, but if you have a source, please share!
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7 hours ago, vogie said:
But as it stands at this moment in time we are called the United Kingdom, that is the country we live in, we are not classed as 4 nations and even the EU does not class Scotland or any of us as seperate nations. Scotland and Wales recently applied to join the Erasmus program and was turned down by the EU for not being countries.
"The European Commission has appeared to have ended early Welsh and Scottish hopes of rejoining the Erasmus scheme.
An EU Commission spokesperson told reporters that because Scotland and Wales were not independent countries but parts of the UK, that they would not be able to join the programme."
This is interesting, but I does it mean the door is really closed?
Like, if the English let them ..
... then the UK can set up a special Erasmus variant, in which the Welsh and the Scots can take part like Northern Ireland does at present?
Not sure of this, though
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3 hours ago, Loiner said:If it is a grace period there is no need for the U.K. to offer anything in return. That’s why it would be called ‘grace’ - given freely in good grace.
As for me, I have been reading you for a while
.. and guess what.
I'm not inclined to give you anything "freely in good grace". That would be extremely naive to keep on being nice to the national - populists governing the UK.
Now it's tit for tat.
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5 hours ago, vogie said:
It's not what you prefer, it's what the EU tells you you can have.
Did you change your mind? I thought you said "the EU" is not a country.
The EU does (or indeed does not) what member states assign it to do, each member state can veto or indeed diverge. Like the UK approving the Pfizer vaccine in December or Hungary approving the Russian and Chinese vaccine now.
Now in the UK, it's different, particularly for non-English nations
QuoteIt's not what you prefer, it's what Boris tells you you can have.
If the Scots wanted the Russian vaccine, do you think Boris would let them?
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2 hours ago, bannork said:An excellent article HfF outlying the tasks ahead for both the UK and the EU
you are an optimist
these last years have only be worse and worse from Cameron, to May and then to Johnson the UK went from tory conservatism to national populism.
Now the UK grabbed up covid-19 vaccines faster than the EU could do (bold move), it is crystal clear we are not in a mutual win anymore, but at best in a zero sum game.
Let's not kid ourselves, this means more deaths in our countries, not to mention the English covid-19 variant will become dominant.
QuoteThere are good reasons to think that tension between the UK and the EU is not a passing phase, but the new normal.
https://www.theguardian.com/commentisfree/2021/feb/02/vaccine-rows-spats-eu-uk-competitor
As a consequence, the EU sees Britain as a third country and competitor, at best "half-friend" at worst "half enemy".
Basically our governments are now adopting the mirror image of the way the UK government sees the EU instead of being naïve.
Tit for tat
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2 minutes ago, nauseus said:Disagree. The EU is not sovereign in the true and full definition of the word - it just uses elements of shared sovereignty allowed by members through EU treaties.
now, regarding trade in the single market, we're getting very close to "the true and full definition of the word"
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UK asks EU for Brexit grace period extension to 2023, BBC reports
in World News
Posted
We talked about that: seeing the disappointment of the Brexiteers when the Irish told them to get lost was fun.
I remember @vinny41found traces of a fringe meeting of Irexiteers. Turned out there was less attendance than at a UFO convention ????
Now I suppose you aren't ready to source your claim about Irexit being "realistic" ?