London post-brexit as a financial center

  • More than 275 financial firms are moving a combined $1.2 trillion (£925 billion) in assets and funds and thousands of staff from Britain to the European Union.
  • The report by the New Financial think tank, one of the most detailed yet on the impact of Brexit on financial services, said Dublin alone accounted for 100 relocations, ahead of Luxembourg with 60, Paris 41, Frankfurt 40, and Amsterdam 32.
  • New Financial identified 5,000 expected staff moves or local hires, a figure that is expected to rise in coming years.
  • Ten large banks and investment banks are together moving 800 billion pounds of assets from Britain - or 10 percent of banking assets in the country.
  • A small selection of insurers have shifted a combined 35 billion pounds in assets.
  • A handful of asset managers have moved a total of 65 billion pounds in funds.
Totalling 1,825 billion pounds and thousands of staff. Going OUT not going IN. So leaving London and reducing it’s importance.

William Wright, founder and managing director of New Financial, said the hit to London was bigger than expected and would get worse.

London will remain the dominant financial centre for the foreseeable future, but other European cities will chip away at London’s lead over time, it added.

Logical as EU financial transactions will move as much as possible back in the EU.

London voted NO today, we will see what happens next.
 
A brilliant summary of the Brexit situation I unfortunately can't take credit for writing:

UK to EU: "So, we have voted to leave"
EU to UK: "That’s a shame, OK what’s your proposals?"
UK to EU: "We don’t have any, we are leaving."
EU to UK: "Yes, but what about the Good Friday Agreement and the Northern Irish border?"
UK to EU: "Eh?"
EU to UK: "It’s an international treaty you signed, remember? Look, tell you what why doesn’t NI stay in the Customs Union, job done."
UK to EU: "NEVER! You are not splitting the UK up."
EU to UK: "OK what do you propose?"
UK to EU: "Why are you being intransigent?"
EU to UK: "What? OK look, we need to sort this and you haven’t proposed anything, what about the whole of the UK staying in the Customs Union?"
UK to EU: "NEVER!
EU to UK: "FFS what then? This is your mess, tell us what you actually want."
UK to EU: "Why are you being intransigent?"
EU to UK: "Will you please just tell us what you want."
UK to EU: "OK if you’re going to be like that, we want a backstop added to the Withdrawal Agreement.
EU to UK: "Finally, yes OK, thats fine, but remember this is your idea, shall we sign the Withdrawal Agreement off? Once we have done this we cannot reopen it in the time left."
UK to EU: "Yes, sign it off."
EU to UK: "Done."
UK to EU: "Ummm we couldn’t get it through Parliament so we need to reopen the withdrawal agreement and change the backstop."
EU to UK: "We said we wouldn’t do that, but OK we might be able to do something, we are listening, what do you want to change it to?"
UK to EU: "Alternative arrangements."
EU to UK: "What?"
UK to EU: "Alternative arrangements."
EU to UK: "What the actual f*ck is that?"
UK to EU: "Don’t know, just something different."
EU to UK: "Look, the backstop was your idea, we reluctantly agreed, now you don’t want it anymore and instead want it changed to something that doesn’t exist."
UK to EU: "Why are you being so intransigent?"
EU to UK: "It literally does not exist, what don’t you understand about that?"
UK to EU: "Stop bullying us. OK, how about having a backstop that isn’t a backstop?"
Theresa May to UK general public: "The EU are being intransigent. This is not our fault, its all theirs."
 
LOL...As Donald Tusk said, those brexit politicians should really have a special place in Hell for championing the undoing of 45 years of laws and treaties without a damn idea how to carry it.
 
Listening to Parliament... Some seem eager to bounce with no deal and not pay the EU 30 Billion owned... No deal will use WTO Rules and trade treaty's will be made on the fly, but if they do not leave the EU by sabotage which is obvious at this point, I think it will be first time in Modern Democracy that a society's vote isn't respected and nullified by Elites... It's a battle of those politicians who do not want to leave EU and forgo voter's wish, and those who want to leave EU, and use voter's as an excuse... It's obvious these guys do not give a fuck about Democracy on both sides, it's personal agenda's

Parliament doesn't want May's Deal ( EU created the deals at this point ) due to issue with Backstop, EU will never address the issue, so only way for UK to respect the people's vote, is to leave without the EU deal... Central Banks who have been gobbling up every index of major markets off there balance sheets by the trillion this year will mass sell-off in case of No Deal going through, which is excellent for bears
 
Stockolio said:
Listening to Parliament... Some seem eager to bounce with no deal and not pay the EU 30 Billion owned... No deal will use WTO Rules and trade treaty's will be made on the fly, but if they do not leave the EU by sabotage which is obvious at this point, I think it will be first time in Modern Democracy that a society's vote isn't respected and nullified by Elites... It's a battle of those politicians who do not want to leave EU and forgo voter's wish, and those who want to leave EU, and use voter's as an excuse... It's obvious these guys do not give a fuck about Democracy on both sides, it's personal agenda's

Parliament doesn't want May's Deal ( EU created the deals at this point ) due to issue with Backstop, EU will never address the issue, so only way for UK to respect the people's vote, is to leave without the EU deal... Central Banks who have been gobbling up every index of major markets off there balance sheets by the trillion this year will mass sell-off in case of No Deal going through, which is excellent for bears
More...
To be fair, if a democracy voted for the UK to build a faster than light spaceship, it's not "nullifying by Elites" if the government doesn't make that happen. And it's not really democracy if folks voted for something and nearly 3 years later when there's far more information available you ask them to vote again to make sure it's still what they want given the substantial new info available. In fact refusing to vote again when the situation has changed seems pretty damn anti-democratic to me.
 
Sig said:
To be fair, if a democracy voted for the UK to build a faster than light spaceship, it's not "nullifying by Elites" if the government doesn't make that happen. And it's not really democracy if folks voted for something and nearly 3 years later when there's far more information available you ask them to vote again to make sure it's still what they want given the substantial new info available. In fact refusing to vote again when the situation has changed seems pretty damn anti-democratic to me.
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Parliament doesn't want the Irish backstop, nobody wants it there... But they are being told, take the EU deal May gives you, or we cancel Brexit and the people's vote. That's crazy

Why is a second vote needed when the first one should be respected ? Do you understand the doors this opens on Democracy for the future ? Rulers don't like an outcome, vote again. They will be back at the same place, unless there is a second vote which says does UK leave under WTO Rules, yes or no ? No will win 100 % and UK will stay in Europe under those terms, there was a lot of Doom and Gloom, short term if UK leaves under WTO rules there will be pain, but mid to longer term, it's obvious UK will benefit greatly by leaving EU.

UK won't leave the EU, Brexit was a hoax and Sabotaged long ago... I believe a democratic vote getting nullified due to " technical " issues, will have major negative implications in the future, what doors are opened next after this ? Heads I win, Tails we re-flip
 
Real democracy gets more and more violated by social media.
Everywhere we see how big the influence is of social media. If social media is abused people get the wrong information and democracy turns into fake democracy.

A few examples:
  • Master in this is Putin. He manipulates social media in Russia to keep the Russians poor while he is stealing with his friends all the oil, gas and the rest. He also abuses social media all over the world (US elections, yellow hesjes, Brexit, elections in Ukraine, Germany, France...). Facebook had to remove thousnads of accounts controlled by Russia. VPN is forbidden in Russia. Vkontakt was taken over by the government. The internet will be isolated in Russia starting the first of april, everything should go thru St Petersburg so that Putin can control the complete social media in Russia.
  • Bitcoin adds appear everywhere about people who know nothing about crypto's but made millions, all this is fake too. Even famous people are abused to proof bitcoins are the futur.
  • Same happened in the UK. The 350 million pound a week sent to the EU are fake, the immigrants invading the UK are fake too. But people believe all they read on social media.
If the reality would have been known by the British people there would never have been a Brexit. More an more people start to admit they did not know what they were voting for. Even the leave camp admitted they lied about the 350 million pound a week sent to the EU. A democratic referendum should start with honest information which was clearly not the case. Who controls the social media always wins, not the democracy.
Social media is part of the cyberwar that will replace the traditional war with weapons. That kind of war is also much cheaper and offenders are much more difficult to catch.
 
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Haha Russia isn't a democracy, Russian Democracy is the same as Central African Democracy if you wanna call it that... The initial reason voter's wanted to leave EU was due to Immigration in general it seems, a lot of Anti-Immigration and some even racists voted to leave EU... What I am saying, even for the wrong reasons, Democracy shouldn't get back doored just cause. UK won't leave EU unless of a stunner tonight or tomorrow, there seats will be brought back in EU parliament and life will go on... It's still technically bullshit tho, what road does this lead to ?
 
Stockolio said:
Parliament doesn't want the Irish backstop, nobody wants it there... But they are being told, take the EU deal May gives you, or we cancel Brexit and the people's vote. That's crazy

Why is a second vote needed when the first one should be respected ? Do you understand the doors this opens on Democracy for the future ? Rulers don't like an outcome, vote again. They will be back at the same place, unless there is a second vote which says does UK leave under WTO Rules, yes or no ? No will win 100 % and UK will stay in Europe under those terms, there was a lot of Doom and Gloom, short term if UK leaves under WTO rules there will be pain, but mid to longer term, it's obvious UK will benefit greatly by leaving EU.

UK won't leave the EU, Brexit was a hoax and Sabotaged long ago... I believe a democratic vote getting nullified due to " technical " issues, will have major negative implications in the future, what doors are opened next after this ? Heads I win, Tails we re-flip
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So you believe that once people have voted on a subject, any subject, it can never be revoted on again, ever? Obviously that's absurd, under that logic everyone would be elected for life or until they quit and every referendum would be forever and unchangeable even if the majority no longer supported it! How is that democratic again? Holding a vote a month after the first when nothing has changed could plausibly be considered a "heads I win, tails we vote again" scenario. Trying to claim that there isn't significant new information on Brexit now that would influence what voters would want, now, is asinine. And once you accept that fact, then denying a vote now, based on what is known now is pretty damn undemocratic no matter how hard one tries to spin it.

Not to mention grossly hypocritical given the fact that the 2016 Brexit vote was, according to your logic, an undemocratic overthrow of the 1975 European Communities membership referendum. Since, according to your logic, any revote is anti-democratic, "heads I win, tails you lose", then why was holding a vote to nullify the 1975 European Communities membership referendum just fine, but a vote to nullify the Brexit referendum (which nullified the 1975 European Communities membership referendum) anti-democratic?
 
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