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Brexit: give me a positive effect... V

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Brian said:
Gibraltar. Such memories....

I boosted the economy my first time there. I was picked up by a shore patrol in Gib absolutely shiters, but I was young, 17 yrs 51 weeks. I spent a fair bit getting in that state though. I think.

Also did a bit of haggling and bought a cocky-watch there that gave up the ghost after a couple of weeks. That’s how I knew it was a cocky-watch. Oh, and a zoom lens for the camera.

I’ve been there lots of times since. I like the place.
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God almighty it’s an utter dump!
 
Brian said:
You can always rely on banks to "look after" their customers.

I wonder how people living abroad managed for their banking before the EU project.
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They had to get an account with a local bank. For Barclays, Lloyds, NatWest and any other U.K. domiciled bank it may be difficult for them to operate accounts for clients within the EU post brexit, depending on whether they apply for European passporting, but it won’t be automatic. If you happen to have an account with Santander, Commerzbank, Svenska Handelsbanken etc. or one of their subsidiaries then it won’t be an issue.
 
But back in the day, if you wanted to live and work in Europe for even a short period, then you needed to have a registered address there and a corresponding account with BNP, NordLB etc. These restrictions all vanished with our EU membership, but will be back with a bang now.
 
Going forward, EU domiciled banks with registered branches in the U.K. will be able to offer business as usual to clients everywhere. For U.K. banks it may not be so easy.
 
Brian said:
You can always rely on banks to "look after" their customers.

I wonder how people living abroad managed for their banking before the EU project.
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I wonder how people managed their money before there were banks?

I wonder how people managed to by kit-kats before there was money?

Kind of irrelevant, surely?

I would have been in this position if I'd still been in Sweden. I think the banks are being forced into this position by a no-deal exit.

And remember, these people complaining had no choice in having their rights rescinded. They have a right to be angry.

Stephen
 
stephen bennett said:
I wonder how people managed their money before there were banks?

I wonder how people managed to by kit-kats before there was money?

Kind of irrelevant, surely?

I would have been in this position if I'd still been in Sweden. I think the banks are being forced into this position by a no-deal exit.

And remember, these people complaining had no choice in having their rights rescinded. They have a right to be angry.

Stephen
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If they were English enough they'd be living in the Motherland, not in the Colonies...
 
Graham B said:
But back in the day, if you wanted to live and work in Europe for even a short period, then you needed to have a registered address there and a corresponding account with BNP, NordLB etc. These restrictions all vanished with our EU membership, but will be back with a bang now.
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The present media focus seems to be on household bank accounts and not on the real elephant in the room- the huge U.K. financial services sector will lose its rights to passport its activities into the EU from London. The EU won’t settle for brass plates on an office building in Frankfurt or Amsterdam, instead U.K. companies will be required to have a physical presence inside EU territory commensurate in size with the amount of business they do inside the EU and licenses to operate will have to be in place for January 1st.
This gives you an idea of the scale of the exodus from London-

Barclays has set up its EU hub in Dublin,
HSBC in Paris,
Lloyds Banking Group in Berlin,
NatWest in Amsterdam,
Standard Chartered in Frankfurt,
Deutsche Bank to Frankfurt,
UBS, Citigroup, Morgan Stanley and Goldman Sachs to Frankfurt,
JP Morgan and Wells Fargo to Paris,
Bank of America will use Paris and Dublin.
 
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Indeed, the coming transfer away of business and jobs could be enormous, along with the knock on effects - less space being rented by banks and insurance companies, less workers buying food & drink, train tickets, etc etc.

At first a lot of banks thought potential brexit problems would be resolved through staying in the single market (as was promised), or otherwise applying for passports to allow them to carry on as usual.

Over time it looks like neither of these will happen, so contingency plans have had to be put in place and executed. Companies cannot simply switch to serving customers in the US or elsewhere - client networks have been set up as our banks and insurance companies spread out through the EU as they have been freely able to do for the last 40 years.
 
stephen bennett said:
Cummins' is determined to fu&k the UK over in his attempt to remake the UK in his image.

Dominic Cummings' data law shake-up a danger to trade

"The government estimates that EU exports to the UK of data-enabled services were worth approximately £31bn in 2017 while UK exports of data-enabled services to the EU were worth around £80bn in 2017."

Seriously, who is Cummings' going to hurt most here?

Stephen


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Look at his personal conduct and the extremism he’s infected Westminster politics with. He no doubt takes the view that the greater the magnitude of economic and societal disruption from Covid-Brexit, the greater his opportunity size.
 
They are playing with fire if they want to mess with GDPR. The knock-on implications if the EU decides to pull the plug on data transfers to the UK, would be enormous.
 
Forget the EU. There is a deal to be had with Turkey: cheap, quality products from food to Beko. The lira is even lower than sterling. BJ has Turkish heritage and a carpet souk mentality so will be oven ready by Xmas.
Farage even has an appropriate Freedom of Movement photo ready.
Doner kabab stands all over Kent.
Job done.
 
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