ChatterBank0 min ago
The Brexit Exit
What are the brexiteers going to do when the jobs and prosperity begin to disappear over the channel?
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I understood well before the referendum that banks would have to open a branch in Europe in order to keep business rolling. The rest of the bank will deal with the rest of the world. They will probably use some of their many European employees to staff these branches and also use them to give people experience on a rolling basis. Don't see a problem. Otherwise, I agree with Khandro 11..40.
“…that Lloyds will have to move some business to the Continent (Germany if I recall )”
I don’t know how much or why. Lloyds (of London) existed for about 260 years before the EU’s predecessors came into existence. It has offices and agencies across the globe and has a presence of some sort or another in around 200 countries, including almost all of the other 27 EU nations. In fact, looking at the spread of their business and their latest Press Releases, the EU seems to feature very little at all in either its current business or future plans. So quite why Ms Beale is suggesting that Lloyds of London will have to set up a subsidiary in the EU is a little puzzling, but I suppose she knows her business. The announcement that this would be happening when it was confirmed that the UK will leave the Single Market as part of Brexit is also somewhat mystifying. There never has been, is not and probably never will be a single market which includes financial services. But as I said, I suppose she knows her business.
I don’t know how much or why. Lloyds (of London) existed for about 260 years before the EU’s predecessors came into existence. It has offices and agencies across the globe and has a presence of some sort or another in around 200 countries, including almost all of the other 27 EU nations. In fact, looking at the spread of their business and their latest Press Releases, the EU seems to feature very little at all in either its current business or future plans. So quite why Ms Beale is suggesting that Lloyds of London will have to set up a subsidiary in the EU is a little puzzling, but I suppose she knows her business. The announcement that this would be happening when it was confirmed that the UK will leave the Single Market as part of Brexit is also somewhat mystifying. There never has been, is not and probably never will be a single market which includes financial services. But as I said, I suppose she knows her business.
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rich47 - Obviously your premise is based on a potential outcome which no-one can predict.
In that sense, it belongs with every single question asked anywhere about the outcome of Brexit - because no-one knows, although lots of people claim to be making informed guesses.
The fact remains, that 'informed' or not, we are still guessing.
Intriguingly, your use of the term 'brexiteers' appears to infer that people who voted to leave the EU have that view as a profession which takes up most of their time. Clearly they don't - they are simply the larger proportion of the electorate who expresses their preference at the appointed time.
In conclusion, there is no answer to your question, one because there is no such thing as a 'brexiteer', and secondly because no-one has any idea if any jobs are actually going anywhere.
In that sense, it belongs with every single question asked anywhere about the outcome of Brexit - because no-one knows, although lots of people claim to be making informed guesses.
The fact remains, that 'informed' or not, we are still guessing.
Intriguingly, your use of the term 'brexiteers' appears to infer that people who voted to leave the EU have that view as a profession which takes up most of their time. Clearly they don't - they are simply the larger proportion of the electorate who expresses their preference at the appointed time.
In conclusion, there is no answer to your question, one because there is no such thing as a 'brexiteer', and secondly because no-one has any idea if any jobs are actually going anywhere.
