Hi from France

12 minutes ago, bkkcanuck8 said:

The deal has not been approved by the EU yet, if it is violated before being passed.... I expect it will fail to pass.

for me I do not think this is a "violation" : it's just one of the many, many ways the UK can and will inflict

• a limited amount of real damage
• but a lot of inflammation

The UK parliament passed the trade deal in a few hours.

This is the most important law to be passed in 10-20 years and the UK parliament didn't scrutinize it ???? 

Lacking scrutiny by the UK parliament, I think scrutiny by the European Parliament is of major importance, they will find many flaws, and hopefully point ways to correct/amend them in the years to come.

sadly the UK interests are not represented in the EP, but there are mutual interests still, so this is still somewhat good for the UK.

"c'est déjà ça de pris"

On 2/8/2021 at 9:12 PM, Loiner said:

You (..) are trying the standard Remainer twisting trick. 

please do no forget I'm not a remainer.

While I do think the UK was infinitely better inside the UE than outside, I'm not sure you realize what you with this national-populist governement have done when leaving in such a radical and hasty way

The most prominent issue is the City and UK financial industry and how much of that industry is coming back to us in the EU

a reasonable estimate is :

reminder: when we say "the EU should be taking back control of its financial industry" we are reasonably talking about taking back

25% of :

• a 750 billions industry
• more than one million jobs

yum

if you want to read the whole series of tweets

So this thread is the fundamental thread: Brexit is not just about what we discuss the most : fishing, the inferior statute of the EU ambassador, exporting SMEs, warehousing, the fashion industry, European touring for British performers, Erasmus the one billion REACH database or whether the UK was "in shackles" (or if Scotland is really the one "in shackles").

Or whether we, in the EU were "in shackles" because of the UK veto on every advance we made.

Brexit is about financial markets and services

So unless I'm a kind-hearted guy who just wants the best for british bankers and traders, I must definitely be a Brexiteer myself ????

.

Cannot quote it correctly here because it is quite detailed

Who gains from the UK’s loss?

Quote

the Square Mile’s position as Europe’s premier financial hub had been seen by influential figures in EU capitals and policymakers in Brussels as a dangerous anomaly, posing a risk to the bloc’s economic stability.

https://www.theguardian.com/business/2021/feb/13/london-fights-for-its-financial-crown-but-it-will-be-a-stretch

Oh and do not forget to write down your promises in advance so that we can assess a possible gap 

Worth mentioning: a good news on Brexit and fishing 

Quote

British Brexit backers have long argued quitting the EU could make the U.K. greener — now there’s some evidence to back that up.

https://www.politico.eu/article/uk-green-brexit-fish-bottom-trawling-ban-dogger-bank/

Quote

“When the U.K. left the Common Fisheries Policy … that triggered an obligation under the Habitats Directive to conduct what’s called an appropriate environmental impact assessment,” said Thomas Appleby, lawyer and associate professor at the University of the West of England. The scientific recommendation led the U.K. to decide to completely ban bottom trawling in the Dogger Bank.

 

“That, of course, puts pressure on the European Union members,"

As well as a more simplistic approach 

https://twitter.com/eberlmat/status/1359765155136098305?s=19

Update about the "shares trading back in the EU" situation.

Transactions have moved, not jobs

yet 

https://twitter.com/Sime0nStylites/status/1359761050200072192?s=19

Very good synthetic article from an American newspaper, the new York Times. 

https://nyti.ms/3rFNs26

I'm not sure our local Brexiteers can read it 

22 hours ago, vogie said:

It is not the only solution, another solution would be for Ireland to exit the EU

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" ? 

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 

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.

Quote

Trading in euro-denominated swaps has tumbled out of London to rival financial centres since Brexit, in another hit to the UK's financial centre.

Quote

Euro-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. 

1 hour ago, david555 said:

https://www.independent.co.uk/news/business/brexit-london-trading-amsterdam-shares-stock-exchange-b1800835.html

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? " 

. 

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

Quote

Bank 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/

Quote

Lord Frost said the UK wanted "friendly cooperation between sovereign equals as our vision of the future",

Quote

but 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

https://www.bbc.com/news/uk-politics-56002176

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,

Quote

French 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

https://www.telegraph.co.uk/politics/2021/02/09/french-fishermen-could-suffer-retaliatory-measures-eu-fails/

we're headed for another escalation, very clever move.

3 hours ago, bannork said:

More teething troubles, JD boss getting hot under the collar.

https://www.bbc.com/news/business-55997641

well he's got a problem

Quote

Peter 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

Quote

He 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.

 

(..)

 

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.

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 ????

https://www.theguardian.com/politics/2021/feb/09/eu-to-seek-more-time-to-ratify-brexit-trade-deal-amid-tensions-with-uk

and the diplomatic representation row is still denied

Quote

Both 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

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 ?

10 hours ago, whatsupdoc said:

You wanted frictionless trade, you got tradeless friction....

nice one ????