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UK watchdog and EU tell banks to prepare for hard Brexit


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13 hours ago, welovesundaysatspace said:

It seems 100% of them ticked that box without ever having seen a proper plan how to execute what they vote for. 

If you'd been locked up in a basement for 20 years and suddenly you saw an open door, but had no idea what was on the other side or what you were going to do next, what would you do?

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3 minutes ago, CG1 Blue said:

If you'd been locked up in a basement for 20 years and suddenly you saw an open door, but had no idea what was on the other side or what you were going to do next, what would you do?

Only in your twisted view of the world would that be an analogy........welcome to Freedomia - land of blue skies , rationality and thinking .....the only prison is in your own mind and looming mortality....

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13 minutes ago, CG1 Blue said:

If you'd been locked up in a basement for 20 years and suddenly you saw an open door, but had no idea what was on the other side or what you were going to do next, what would you do?

Seems like many posters would refuse to leave until they'd negotiated a sensible exit plan with their captors.

(and possibly offer to pay back rent on their prison cell)

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Tebee

 

Here is one that will have you reaching for the kleenex.

 

It's an Elton John cracker ??

 

Quote

There’s a new cereal called Brexit. You eat it and you throw up afterwards.”

https://www.politico.eu/article/elton-john-theres-a-new-cereal-called-brexit-you-eat-it-and-you-throw-up-afterwards/

 

I am surprised that you haven't found and posted it yet ??

 

But be quick, it will be taken off the market on 29 March 2019 ??

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As the topic is about Banks ??

 

May 2016. Osborne & Rolet

 

Quote

George Osborne has warned of “tens of thousands” of potential job losses in the financial services industry if Britain leaves the EU,

Quote

Xavier Rolet, chief executive of the London Stock Exchange, has said that as many as 100,000 City jobs could be lost if Britain left the EU in a private meeting with David Cameron,

https://www.ft.com/content/868345d8-1607-11e6-b197-a4af20d5575e

 

Fast forward to March 2018

 

Quote

5,000 UK finance jobs may be moved by Brexit,

https://uk.reuters.com/article/us-britain-eu-city-finance/5000-uk-finance-jobs-may-be-moved-by-brexit-half-earlier-forecast-reuters-idUKKBN1H40ZV

 

???

 

Now do you get why Project Fear and remainers are laughed at ??

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26 minutes ago, The Renegade said:

As the topic is about Banks ??

 

May 2016. Osborne & Rolet

 

https://www.ft.com/content/868345d8-1607-11e6-b197-a4af20d5575e

 

Fast forward to March 2018

 

https://uk.reuters.com/article/us-britain-eu-city-finance/5000-uk-finance-jobs-may-be-moved-by-brexit-half-earlier-forecast-reuters-idUKKBN1H40ZV

 

???

 

Now do you get why Project Fear and remainers are laughed at ??

Not that I am too concerned about UK financial job losses, per se, but whichever way you try and put a spin on it, a loss is still a loss. And 5,000 jobs in just one industry, is evidence that the widespread forecasted effect of a forthcoming Brexit seems to be a causation element in such job losses.   

 

I would rather have seen (as do millions of UK citizens) that Brexit will create at least 5,000 new job opportunities. That, regretfully, hasn't happened, nor has anything been similarly positive - and quantified. 

 

While there are risks to any new venture, I see no balance at all with Brexit. One would expect, at the very least, some numerical stats that back up 'leaving the EU will be a good thing' apart from the ideology craptrap that is bandied around by Brexiteers.

 

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3 hours ago, tebee said:

 There are two problems about UK flights post hard no deal brexit.

 

The safety issues I mentioned 

 

The lact of rights to operate flights  @stevenl talked about.

 

The EU paper about brexit preparations talks about the latter 

 

EU rules in the field of air transport will no longer apply to the UK after Brexit, which would have "consequences in the different areas of air transport". Not least, of course, EU Member State carriers "will no longer enjoy traffic rights to or from the territory of the United Kingdom" and of course visa versa,

 

 All EU airlines would not be permitted to land in the UK, saying: "in effect, as in the absence of no new agreement being reached between the EU and the UK that provides for air access, then there would be an interregnum in the period post March 29th, 2019".

 

In order to enjoy the freedoms covered by the regulation, airlines must hold EU operating licences. The European Commission says that in order to keep these, certain conditions must be met. "The conditions include, among others, the need to have one’s principal place of business within an EU member state", 

 

The airline must also be "majority owned and effectively controlled" by EU member states. "If the conditions are no longer fulfilled as a consequence of the United Kingdom becoming a third country, the operating licence at issue will no longer be valid".

 

Thus, "air carriers of the United Kingdom will no longer enjoy traffic rights under any air transport agreement to which the union is a party, be it to or from the territory of the United Kingdom, be it to or from the territory of any of the EU member states".

 

But that also means that UK airlines will not be enjoy the rights afforded by the EU-US "Open Skies" agreement, one of the horizontal agreements covering 41 countries and one regional organisation with eight member states.

 

 

What you're failing to acknowledge is that contingency plans will be put in place. You've already seen Heathrow doing that.

The chaos caused by a 2 month (or even 2 day) UK shutdown for all developed nations would be unimaginable. They're not going to let that happen.

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2 minutes ago, CG1 Blue said:

What you're failing to acknowledge is that contingency plans will be put in place. You've already seen Heathrow doing that.

The chaos caused by a 2 month (or even 2 day) UK shutdown for all developed nations would be unimaginable. They're not going to let that happen.

I agree it won't happen, but it should never have been an issue. Just one of dozens of similar issues facing industry, as a detrimental effect that Brexit will have, if not addressed and an agreed solution found. 

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9 minutes ago, stephenterry said:

I would rather have seen (as do millions of UK citizens) that Brexit will create at least 5,000 new job opportunities. That, regretfully, hasn't happened, nor has anything been similarly positive - and quantified. 

Only to neg - heads that are blind or blinkered to any good news.

 

Quote

Dyson shrugs off Brexit fears with massive UK expansion plan

https://www.theguardian.com/technology/2017/feb/28/dyson-shrugs-off-brexit-fears-with-massive-uk-expansion-plan

 

Quote

U.K. Technology Sector Investment Doubles Despite Brexit

https://www.bloomberg.com/news/articles/2018-05-17/u-k-technology-sector-investment-doubles-despite-brexit

 

Quote

Citigroup to invest in London, hire staff despite Brexit: FT

https://www.reuters.com/article/us-citigroup-britain/citigroup-to-invest-in-london-hire-staff-despite-brexit-ft-idUSKBN1FV0ZA

 

There is just 3. There are 1000's of others if you care to look.

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11 minutes ago, stephenterry said:

I agree it won't happen, but it should never have been an issue. Just one of dozens of similar issues facing industry, as a detrimental effect that Brexit will have, if not addressed and an agreed solution found. 

The EU should not be this difficult to leave. That is the problem, and that should be the real concern.

 

The EU should be working with the UK to make this an amicable and non-disruptive departure. Not using threats and fear tactics to try to prevent us from leaving.

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7 minutes ago, CG1 Blue said:

The EU should be working with the UK to make this an amicable and non-disruptive departure. Not using threats and fear tactics to try to prevent us from leaving.

How else are they going to deter others from leaving if they make it 'amicable and non-disruptive'. The EU leaders must be quaking in their boots. Good.

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37 minutes ago, CG1 Blue said:

 

The EU should be working with the UK to make this an amicable and non-disruptive departure. Not using threats and fear tactics to try to prevent us from leaving.

That’s too funny. Hating someone so bad that you wanna break up but then expecting that one to take care of your shit because you yourself are not capable of it. 

 

The UK wanted to leave the EU. No one is stopping the U.K. from that or even could do so. Now if you’re incapable of actually managing your Brexit, then thats certainly your own problem alone (and one has to wonder why you would do a Brexit if you don’t have the capabilities for it).

 

Get your shit together instead of blaming others for your poor execution skills. You had enough time to plan for this (which includes the time before (1) the referendum and (2) actually starting the countdown). 

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2 hours ago, CG1 Blue said:

If you'd been locked up in a basement for 20 years and suddenly you saw an open door, but had no idea what was on the other side or what you were going to do next, what would you do?

 

24 minutes ago, CG1 Blue said:

The EU should not be this difficult to leave. That is the problem, and that should be the real concern.

 

The EU should be working with the UK to make this an amicable and non-disruptive departure. Not using threats and fear tactics to try to prevent us from leaving.

You mean the people who've kept you "locked up in a basement for 20 years" now should be working with you "to make this an amicable and non-disruptive departure"? Clearly, your brutal confinement has impaired the clarity of your thinking. PTSD can do that to you.

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The EU should not be this difficult to leave. That is the problem, and that should be the real concern.
 
The EU should be working with the UK to make this an amicable and non-disruptive departure. Not using threats and fear tactics to try to prevent us from leaving.


The EU is not trying to prevent the UK from leaving at all. But the UK is currently bound by many EU rules (which the UK helped design). Undoing these ties is indeed not easy but primarily a task for the UK. It would be wise if the UK started to act on that. First they might want to come up with a solution for the Irish border (preferably in line with the GFA).


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29 minutes ago, The Renegade said:

Do you not think that these factors (1 & 3 if they actually happen or exist) should be utilised as a constructive counter balance instead of  denigrating other posters' opinions, which you are inclined to do so? 

 

And, as an aside, are you being fed on a daily basis? Your very swift response with named sources raises a question as to your motives on this forum. 

 

 

 

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48 minutes ago, The Renegade said:

So imagine how good it could have been without Brexit.

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25 minutes ago, stevenl said:

So imagine how good it could have been without Brexit.

But that wasn't the point was it ?

 

The poster could only see negativity and no positivity over Brexit, especially over jobs, so I provided examples

 

Quote

Easy to understand when you can comprehend English.

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5 minutes ago, The Renegade said:

But that wasn't the point was it ?

 

The poster could only see negativity and no positivity over Brexit, especially over jobs, so I provided examples

 

Easy to understand when you can comprehend English.

Anybody else notice the case of double doublethink here?

The same poster who says you can't know the future suddenly trusts in forecasts when they're favorable.

The same poster who accuses certain business leaders of being part of Project Fear when their pronouncement are unfavorable, apparently thinks thinks those who promise good things are part of Project Truth.

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3 hours ago, CG1 Blue said:

If you'd been locked up in a basement for 20 years and suddenly you saw an open door, but had no idea what was on the other side or what you were going to do next, what would you do?

Only in your twisted view of the world would that be an analogy........welcome to Freedomia - land of blue skies , rationality and thinking .....the only prison is in your own mind and looming mortality....

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34 minutes ago, welovesundaysatspace said:

That’s too funny. Hating someone so bad that you wanna break up but then expecting that one to take care of your shit because you yourself are not capable of it. 

 

The UK wanted to leave the EU. No one is stopping the U.K. from that or even could do so. Now if you’re incapable of actually managing your Brexit, then thats certainly your own problem alone (and one has to wonder why you would do a Brexit if you don’t have the capabilities for it).

 

Get your shit together instead of blaming others for your poor execution skills. You had enough time to plan for this (which includes the time before (1) the referendum and (2) actually starting the countdown). 

I’m glad it amuses you. You sound like an EU commissioner.

An organisation like the EU is supposed to be a partnership of nations, not a prison. If the citizens of one of the member states decide they don't like the way the organisation is evolving and want to leave, why not allow them to do so in an amicable and orderly way?

I don't see you criticising the EU commissioners for not having a plan in place for exiting nations.  Did they think this was never going to happen – that nobody would ever dare to destablilise their gravy train?  

Untangling decades of rules and regulations was always going to be complicated.  Can you show me examples of the EU being cooperative or helpful in any way?

 

It is in everyone’s interests to make this work, and the childish ‘throwing your toys out of the pram’ attitude helps nobody.

 

“Hating someone so bad that you wanna break up” This says all I need to know about your misunderstanding of Brexit.

 

 

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37 minutes ago, The Renegade said:

But that wasn't the point was it ?

 

The poster could only see negativity and no positivity over Brexit, especially over jobs, so I provided examples

 

Easy to understand when you can comprehend English.

No, the poster didn't only see negatives, that was your unjustified conclusion.

But you're avoiding the main thing: it should have been much better, but for Brexit.

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What's wrong with the EU from the beginning is that the architects were so up their own backsides that they thought no one would ever want to leave. Hence why the trouble now, cuz there hasn't been any rules written to allow for a 'get out of jail card'. The UK is the prototype that others will follow, so yes there will be teething problems in the beginning.

 

Edit: I personally think both sides want an 'hard Brexit' so the rules can be written.

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22 minutes ago, CG1 Blue said:

I’m glad it amuses you. You sound like an EU commissioner.

An organisation like the EU is supposed to be a partnership of nations, not a prison. If the citizens of one of the member states decide they don't like the way the organisation is evolving and want to leave, why not allow them to do so in an amicable and orderly way?

I don't see you criticising the EU commissioners for not having a plan in place for exiting nations.  Did they think this was never going to happen – that nobody would ever dare to destablilise their gravy train?  

Untangling decades of rules and regulations was always going to be complicated.  Can you show me examples of the EU being cooperative or helpful in any way?

 

It is in everyone’s interests to make this work, and the childish ‘throwing your toys out of the pram’ attitude helps nobody.

 

“Hating someone so bad that you wanna break up” This says all I need to know about your misunderstanding of Brexit.

 

 

As with every agreement, there are commitments, from both sides. The talks now are about how to meet those commitments as good as possible.

Not difficult, but you seem to be unable to understand. This is a 2- way process, not a prison. EU has been very clear how they see this should be done, UK still seems to not know how.

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13 minutes ago, stevenl said:

EU has been very clear how they see this should be done,

Exactly, their way or nothing.

 

15 minutes ago, stevenl said:

This is a 2- way process

No it is not if they get their way.

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21 minutes ago, stevenl said:

Not difficult, but you seem to be unable to understand. This is a 2- way process, not a prison. EU has been very clear how they see this should be done

Please help me understand then. Show me where the EU has been very clear how this should be done in a constructive and mutually beneficial way.

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19 minutes ago, CG1 Blue said:

Please help me understand then. Show me where the EU has been very clear how this should be done in a constructive and mutually beneficial way.

Constructive: Norway or Canada option

Mutually beneficial: Remain (sorry, but any other scenario is lose-lose)

 

But the UK opts for:

Have cake and eat it; Also known as Chequers white paper plan

Lets fight among ourselves until time runs out: No deal & total chaos

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1 hour ago, CG1 Blue said:

An organisation like the EU is supposed to be a partnership of nations, not a prison.

The EU is a club that provides its members certain benefits and comes with certain membership requirements, rules and fees on the other hand. The UK decided the benefits are not worth it anymore and therefore cancelled its membership. Obviously, that means you will also lose your membership benefits. 

 

1 hour ago, CG1 Blue said:

 

If the citizens of one of the member states decide they don't like the way the organisation is evolving and want to leave, why not allow them to do so in an amicable and orderly way?

No one ever not allowed you to do so. All your membership benefits will be cancelled by the date of execution, and so will be all the obligations that came with it. Just as you wished. 

 

Now finding a new club certainly the UKs job alone. 

 

1 hour ago, CG1 Blue said:

I don't see you criticising the EU commissioners for not having a plan in place for exiting nations. 

There is. The U.K. already started that process. 

 

1 hour ago, CG1 Blue said:

 

Did they think this was never going to happen – that nobody would ever dare to destablilise their gravy train?  

Apparently they did, otherwise there wouldn’t be the relevant regulations that the U.K. used to Brexit. 

 

1 hour ago, CG1 Blue said:

Untangling decades of rules and regulations was always going to be complicated.  Can you show me examples of the EU being cooperative or helpful in any way?

The EU provides its members a cancellation option. The U.K. used that to cancel its membership. Very easy. 

 

1 hour ago, CG1 Blue said:

 

It is in everyone’s interests to make this work, and the childish ‘throwing your toys out of the pram’ attitude helps nobody.

Who needs help with what exactly? The process has been started and it will be excuted. We can all sit back and enjoy. 

 

1 hour ago, CG1 Blue said:

“Hating someone so bad that you wanna break up” This says all I need to know about your misunderstanding of Brexit.

I’m just repeating what I read here from hardcore Brexit-fans. Maybe that’s not your understanding, but certainly that of your leaders. 

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