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UK asks EU for Brexit grace period extension to 2023, BBC reports


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If can not follow E.U. banking rules ....The city has no way to do banking in Euroland ....simple logic ????

 

 

https://www.independent.co.uk/news/business/brexit-banking-rules-andrew-bailey-b1800593.html

 

NewsBusiness

‘Unrealistic and dangerous’ to stick to EU banking rules after Brexit, says Bank of England governor

Andrew Bailey says UK must be free to diverge on financial services regulation

It would be "unrealistic" and "dangerous" for the UK to stick to EU banking rules after Brexit, Bank of England governor Andrew Bailey has said.

 

 

Edited by david555
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16 minutes ago, 7by7 said:

 

And rapidly retracted and acknowledged her mistake.

 

When has BoJo ever done that? 

It could have been a very serious mistake and still might be, it should have never in a month of Sundays have happened at all.

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


Brexit: Amsterdam surpasses London as Europe’s leading share trading hub
Billions of euros of trades move to Dutch capital as new rules ban EU firms from settling transactions in London

 

Ben Chapman @b_c_chapman
30 minutes ago

 

Amsterdam has surpassed London as Europe's leading share trading hub in the wake of Brexit.
An average €9.2bn shares a day were traded on Euronext Amsterdam and the Dutch arms of CBOE Europe and Turquoise in January, according to data from CBOE Europe first reported by the Financial Times.


EU-based financial firms are banned from trading in London because the EU has not recognised UK regulations on exchanges as equivalent to its own. The change prompted €6.5bn (£5.7bn) of daily transactions to move from the UK on 1 January – around half of London's European sharare trading business.

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The Irish PM can see how the EU's continual and disgraceful use of Ireland as a negotiating tool could be very damaging. It's about time he spoke up about it. 

 

Brexit: Micheál Martin calls on 'big beasts' of EU to 'cool it'

The taoiseach (Irish PM) has called on the "bigger beasts of the EU" to "cool it" in their dealings with the UK.

"This isn't an ongoing battle between the UK and some of the bigger beasts of Europe. Let's move away from that. They need to cool it. We'll be collateral damage in all of that.

https://www.bbc.co.uk/news/world-europe-56026320

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3 hours ago, 7by7 said:

 

Yet again, you've refused to answer the question.

 

Yet again you made a ridiculous remark which came back to bite you and are now making an even bigger fool of yourself in trying to justify

 

Will you never learn?

Explain please? 

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28 minutes ago, CG1 Blue said:

 

The Irish PM can see how the EU's continual and disgraceful use of Ireland as a negotiating tool could be very damaging. It's about time he spoke up about it. 

 

Brexit: Micheál Martin calls on 'big beasts' of EU to 'cool it'

The taoiseach (Irish PM) has called on the "bigger beasts of the EU" to "cool it" in their dealings with the UK.

"This isn't an ongoing battle between the UK and some of the bigger beasts of Europe. Let's move away from that. They need to cool it. We'll be collateral damage in all of that.

https://www.bbc.co.uk/news/world-europe-56026320

If he has the Ultimate solution he is very welcome to give it ....

 

if it was not by supporting ROI. & the good friday agreements the E.U. would not have this problem(s)  ....He better keep that in mind 

Edited by david555
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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? " 

 

Edited by Hi from France
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42 minutes ago, Hi from France said:

 

 

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? " 

 

 

" The second question is "how can we take back the other half? " 

 

 

Just by let go as it is going ...and surely not give in on their wishes ....

Edited by david555
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5 minutes ago, CG1 Blue said:

It is not in he EU's interests to come up with solutions for the Irish border. It is in their interests to use the border issue as an obstacle. 

A solution would have been found ages ago if the EU were not hell bent on making it a problem. 

The Irish problem was decades if not longer ...already a English problem ....which was no more when U.K. was a E.U. member .... until brexit came in game .... hence THAT made it complicated ....

 

your choice and freedom , but there lies the reason now for the N.I / R.O.I. problem

 

You make it look like we created brexit ...ridicolous ! ????

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16 minutes ago, CG1 Blue said:

It is not in he EU's interests to come up with solutions for the Irish border. It is in their interests to use the border issue as an obstacle. 

A solution would have been found ages ago if the EU were not hell bent on making it a problem. 

That is just not true.
 

It was the Irish govt who saw the problems that the brexit vote would cause re the Good Friday Agreement and wanted them dealt with. 
 

Stop perpetuating the brexiteer fallacy that the EU used the issue of the border as a cudgel. 
 

The only reason there is a border in Eire is because of English solutions. 

Edited by Bluespunk
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26 minutes ago, CG1 Blue said:

It is not in he EU's interests to come up with solutions for the Irish border. It is in their interests to use the border issue as an obstacle. 

A solution would have been found ages ago if the EU were not hell bent on making it a problem. 

A solution was found ages ago. It was the UK who was hell bent to destroy that solution. Because the solution was not in the UK’s interest. No deal with the consequences. 

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2 hours ago, Hi from France said:

 

 

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? " 

 

The currency of the underlying security traded in is not of that much importance... in fact the exchange itself (not familiar with London or Amsterdam) may have nothing to do with the cash settlement.... it may very well be centralized at a third party that does the settlement (i.e. dealer settles a net amount for all trades with the central clearing/settlement (as do all) and the money would be transferred through that agency to another dealer. 

 

Toronto Stock exchange has some USD listings (I think for certain interlisted securities though not all... and not very many). 

 

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.

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52 minutes ago, Bluespunk said:

Stop perpetuating the brexiteer fallacy that the EU used the issue of the border as a cudgel.

Here's some more for you:

 

Here is Mr Niall Cody, Chairman of the Board of the Irish Revenue Commissioners, giving testimony to a Committee of the Irish Parliament in 2017.

 

(The department heads with the expertise were prevented from talking to each other by the EU and by the Irish government.)

 

We are not in any form of negotiation or even having any discussion with the UK at this point.”

- Liam Irwin, then Irish Revenue Commissioner

Q: “Could Mr. Cody clarify whether there is a legal impediment to negotiations between us and-----“

Niall Cody (Chairman of Irish Customs): “Yes.”

Q: “-----so we can have discussions but not negotiations?”

Niall Cody : “The European Union will be negotiating with the United Kingdom in regard to Brexit.”

- Senior Irish Revenue officials, testimony to the Dáil committee in 2017

 

And here is what the UK Customs boss said:

“There are no formal conversations with either the French or the Irish. We cannot talk to Customs or taxation management organisations in either of those countries.”

– Sir Jon Thompson, Chief Executive of HM Revenue and Customs, giving evidence to the Exiting the European Union Committee, 29 Nov 2017

 

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40 minutes ago, CG1 Blue said:

Here's some more for you:

 

Here is Mr Niall Cody, Chairman of the Board of the Irish Revenue Commissioners, giving testimony to a Committee of the Irish Parliament in 2017.

 

(The department heads with the expertise were prevented from talking to each other by the EU and by the Irish government.)

 

We are not in any form of negotiation or even having any discussion with the UK at this point.”

- Liam Irwin, then Irish Revenue Commissioner

Q: “Could Mr. Cody clarify whether there is a legal impediment to negotiations between us and-----“

Niall Cody (Chairman of Irish Customs): “Yes.”

Q: “-----so we can have discussions but not negotiations?”

Niall Cody : “The European Union will be negotiating with the United Kingdom in regard to Brexit.”

- Senior Irish Revenue officials, testimony to the Dáil committee in 2017

 

And here is what the UK Customs boss said:

“There are no formal conversations with either the French or the Irish. We cannot talk to Customs or taxation management organisations in either of those countries.”

– Sir Jon Thompson, Chief Executive of HM Revenue and Customs, giving evidence to the Exiting the European Union Committee, 29 Nov 2017

 

I just had a hard time figuring out what this was exactly.  Of course the decisions would have to be deferred to the EU since the negotiations were with the EU as a whole -- not with Ireland or France...

 

Although not the ideal way for this to come about, if this leads to a united Ireland (peaceful transition) then all the better for both the UK mainland and for Ireland.  It is not as though it had not been a policy discussion before - it was discussed internally to the UK in 1974 about potentially withdrawing completely from Ireland.   I got the feeling that some of the GFA was really negotiated in such a way that it was really a soft nudge in that directly.  As long as the UK stayed in the EU common market - this transition could take place over an extended period of time since ... well... on the ground it did not have much impact.  With the UK out - it has caused a lot of turmoil in the short term, as it will have an impact on the ground. 

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23 minutes ago, bannork said:

A united Ireland is the only answer. For the Protestants who fear being a minority, safeguards must be provided in the constitution. We, the UK created this problem by invading Ireland and moving in  Scottish settlers etc. 

absolutely. 

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