Odd considering how Trump managed to make 2020 even worse than the previous years.
Also quite ironic how a brit, longing for the great times of the British Empire, is bitching about beeing threated like a bitch by a union you even entered voluntarity, luckily no one invaded and forced you.
It became clear that it wasn’t realistic to try to get the audience back to being more hardcore, as it had been in the past. -- Tom Chilton
LONDON (Reuters) - The combination of COVID-19 and a failure to secure a post-Brexit trade deal with the European Union could cost the United Kingdom around 134 billion pounds ($174 billion) each year in lost GDP for a decade, research by law firm Baker & McKenzie showed.
https://www.reuters.com/article/us-b...-idUSKBN26Q0HD
LONDON (Reuters) - The combination of COVID-19 and a failure to secure a post-Brexit trade deal with the European Union could cost the United Kingdom around 134 billion pounds ($174 billion) each year in lost GDP for a decade, research by law firm Baker & McKenzie showed.
For the benefit of people who only skim over sensationalist nonsense like this, I highlight the only important word in that sentence especially for them.
13/11/2022 Sir Keir Starmer. "Brexit is safe in my hands, Let me be really clear about Brexit. There is no case for going back into the EU and no case for going into the single market or customs union. Freedom of movement is over"
what margin are we talking ? unless dribbles wants to handwave away each billion of such a loss it still speaks desaster.
It's just an attempt to discredit the forecast, nothing else. Just like he will decry any discrepancy from that prediction a proof that they don't know what they were doing and never knew. The principle mechanics - and intention - of predictions like this has been thoroughly explained to Dribbles long ago. To no avail, obviously, since understanding requires a willingness to actually listen.
Scraping the bottom of the barrel, huh...
Ok, let's help you:
https://www.theneweuropean.co.uk/bre...-brexit-268028
https://uk.reuters.com/article/uk-br...-idUKKBN26L3WW
https://www.bloomberg.com/news/artic...n-to-leave-u-k
That reduced business? It's going to cost the UK. It'll directly translate into less tax income. It's happening buddy. You wanted this, you got it. This is how people lose interest in you guys. This is how it all begins. This isn't a one time event. This bloodletting will continue until you are shrunk to the size that the market deems proper for you. Enjoy!Financial services firms operating in the U.K. have shifted about 7,500 employees and more than 1.2 trillion pounds ($1.6 trillion) of assets to the European Union ahead of Brexit -- with more likely to follow in coming weeks, according to EY.
Oh, btw, that deal you're celebrating everytime the UK fucks it up? That's the ONLY chance of the UK financial sector maintaining its size. If they lose passporting, they will be nothing but another marketplace. And there is plenty of those. But who will the new trade hub gateway into the EU be? Not London, that's for sure.
Last edited by Slant; 2020-10-06 at 10:11 AM.
Users with <20 posts and ignored shitposters are automatically invisible. Find out how to do that here and help clean up MMO-OT!
PSA: Being a volunteer is no excuse to make a shite job of it.
So about 1% of City of London employees have gone to the EU. That's not a win for the EU but UK companies managing out bad employees and sending their crud to places, perceived as boring Frankfurt or high tax and restrictive labour laws Paris for example, that no one wants to go and live.
And as for passporting, the EU have begged the UK to extend equivalence until June 2022, deal or no deal, and will do so regularly into the future. The UK as far as I can see have not agreed to this yet unless UK law applies across the EU without interference from Brussels and we should say no, cut off their money if you will unless the EU agree to UK rule. If we did refuse EU financial access to London on January 1st the EUROzone would be bust the next day and unable to borrow the trillions it needs for future spending plans. Nah the City is safe and in an article seemingly written in explanation just for you:-
The Luftwaffe couldn't destroy the City and neither will Mr Barnier.
https://www.express.co.uk/comment/ex...nier-luftwaffe
You're welcome.
13/11/2022 Sir Keir Starmer. "Brexit is safe in my hands, Let me be really clear about Brexit. There is no case for going back into the EU and no case for going into the single market or customs union. Freedom of movement is over"
And you're back to WW2 references... how often do you have to do this to realise I don't care? We're both 2-3 generations removed from that crap. The only insult is that you think I care, to be honest.
Nobody cares about how many of your corrupt bankers come to the EU. You can keep your criminals, thank you very much. Heck, I'd be happy for you to keep the assets and survive, too. But if you really want to ship those trillions of assets to us, who are we to complain?
The EU hasn't "begged" you to extend equivalence. The EU has offered it to you so you can pretend you're relevant a little longer. Feel free to decline and then complain about how evil the EU is for making you decline. It seems to be the pattern in Brexiteer action. It's funny that you think you can fool anyone with that "strategy", I must admit.
UK law will never apply within the EU. We will of course adhere to UK law when we do business in the UK. That, my friend, is called respectfully observing the sovereignity of your nation. By the way, we have always done that. It's not a new thing and nothing that needs a new agreement to. It's how countries operate and have operated since... oh, the 17th century at least?
Nobody here cares about "access to London". It's the other way around, buddy. Those trillions have already moved to the EU and more will move.
Users with <20 posts and ignored shitposters are automatically invisible. Find out how to do that here and help clean up MMO-OT!
PSA: Being a volunteer is no excuse to make a shite job of it.
I'm afraid you need to smell das kaffee.
If the EU want access to trillions of euro from the City of London, UK then they will have no choice but to be ruled by UK law. When you go cap in hand to borrow money from your bank you comply with everything they ask for or you don't walk away with that loan. If the UK says to the EU jump up and down on one leg for 5 minutes and we will grant you access to that finance, then that's what the EU will do.
Quite simply in future the EU will be ruled by the UK, with no say in how those rules are formulated. /three cheers for brexit!
Taking back control one might say, just as the UK populace ordered and brexit working as intended.
13/11/2022 Sir Keir Starmer. "Brexit is safe in my hands, Let me be really clear about Brexit. There is no case for going back into the EU and no case for going into the single market or customs union. Freedom of movement is over"
We don't specifically want trillions of Euros from the City of London. We are, however, getting them in the form of assets that are being moved to the EU. We didn't ask for this, we're just getting it. By the way, your notion of the EU being ruled by UK law really says a lot about the crazy that goes on in your head. Equivalence. Look up the word, learn the English language.
And the EU doesn't exactly need a loan from the UK. A LOAN? You couldn't afford the types of loans the EUROPEAN UNION would consider interesting. You can shove that loan up your ass, my man. I think we'll get by without it just fine.
- - - Updated - - -
I think he slipped up there, it was a prime opportunity to talk about trillions of pounds, but instead he seems to have accepted what the actual reference currency in Europe is and indirectly admitted the true insignificance of the British pound in international trade.
Users with <20 posts and ignored shitposters are automatically invisible. Find out how to do that here and help clean up MMO-OT!
PSA: Being a volunteer is no excuse to make a shite job of it.
True, the cost of Brexit could be higher.
At first I wanted to write that in jest, but then I read the report - https://www.bakermckenzie.com/en/ins...re-of-uk-trade
(The report was made by Oxford Economics together with Baker McKenzie.)By virtue of its EU membership, the UK is currently a party to over 40 FTAs that the EU has signed, but unless it can reproduce these agreements, they will expire on 31 December 2020; same as when the UK’s Brexit transition period ends.
Oxford Economics modelling assumes that the UK manages to replicate all existing EU deals
Obviously it can also be lower, if the uk manages to sign a FTA with the US that is estimated to gain 0.2%, and joining CPTPP adds another 0.05% compared to the loss of 3.9% due to Brexit. (Note that the uk currently has FTA with 6 members of CPTPP through EU; and the remaining ones are a bit far off.)