London post-brexit as a financial center

[schweiz]

Don't know why UK joined EU in the first place.

This confirms that you have no clue what it is all about. To have a valid opinion why they should leave, you should first know why they entered.
But you seem to be an expert (at least you think).

I hear these kind of experts every week when I have drinks with my friends. The more alcohol people drink the more intellectual the conversation becomes...

 

[JSOP]

This confirms that you have no clue what it is all about. To have a valid opinion why they should leave, you should first know why they entered.
But you seem to be an expert (at least you think).

I hear these kind of experts every week when I have drinks with my friends. The more alcohol people drink the more intellectual the conversation becomes...

So annoying to have to deal with idiot trolls who don't know how to read rhetoric comments.

 

[JSOP]

When a couple marries they have both rights and obligations. They both have to contribute to pay all the expenses. They have to agree on that if not they cannot marry.

If they buy a house, each person has part in it. In general (except if agreed differently) they both have to pay and both will receive their part when the house will be sold. In case of a divorce all obligations linked with the marriage (loans and other debts, saving accounts, taxes...) should first be ended, and paid if needed, before the divorce can be final.

One partner cannot say: I am out, you can pay all the bills for which we engaged together. They are both legally bounded to their obligations.

The same is true for membership of the EU. When you enter you have an agreement to sign. With 99.99% certainty nobody on ET ever read this agreement. The EU takes all the time long term engagements that are always approved by the members. These members also approve the amount of money that is paid by each member state, as well the subsidies they would receive. So also their OWN obligations towards the EU. As the UK legally bounded themselves in these long term commitments, they have to fulfill completely their financial obligations. They have to pay their part of the longterm engagements they agreed on.

The UK acts like the person who wants a divorce and wants to dump all the expenses, and engagements and let the others pay. The future engagements have to be calculated and be paid for their part by the UK. They cannot engage, run away and leave the bill with the other members. I think if they will do that they will be prosecuted by the EU.

I wonder how many people on this forum have any clue about the agreement that was signed between the UK and EU when the UK entered. A lot of experts in these matters have problems to solve the is complex situation. But on ET we do not only have experts in trading, we apparently also have experts in EU legislation.

I am not an expert, just read a bit about the situation and the cause of the financial dispute.
All parties envolved will take a hit, there will be no winners except for the lawyers.

First of all nobody ever said they are "experts" here. Everybody is just offering their opinion. If you think I am an expert because of my posts, why I thank you. Second UK fulfilled its obligations, paid its membership dues as a net contributor to EU while it's a member of EU and is not in any debt to EU on anything in any way so EU can hardly hold anything against UK in that aspect. UK owes EU no nothing so where do all those "expenses" come from? It's like the wife has paid for all household expenses and actually contributed more to everything in the marriage than she received because UK is actually a net contributor and she owes nothing to the husband so what right does the husband still has to force the wife to pay in a divorce? In the future, UK is no longer part of EU so WHY should UK continue to pay? Where are all those future "expenses" or "engagements" pertaining to in EU that UK still has to pay??!! You mean those bureaucratic courts and regulatory overseeing bodies in Brussels that the British neither voted for nor elected? Well UK's not going to follow those EU laws once it's out nor would they be following those draconian regulations, so again why should UK pay for them? It's like the wife is going to be out of the marriage but the husband still wants the wife to pay for this party that he's planning in the future? Is that fair? What else? What "future expenses and engagements" does UK still have to pay in the EU when it's not going to be part of EU anymore? You can't just throw those big words like "expenses, engagements" around without actually offering any substances to them and then to just sum it up as "it's a complex situation".

We all know it's a complex situation that's a given but that still doesn't change the fact that Brexit is the right step to take in the right direction for UK and actually for all European countriesin the future. You want to dispute that? Then you need to offer valid arguments.

 

[schweiz]

What "future expenses and engagements" does UK still have to pay in the EU when it's not going to be part of EU anymore?

The engagements they signed and agreed on as a member of the EU (which they still are!) and that are still running after the Brexit. They knew and signed for these engagements till end of the period as mentioned in the engagement. Leaving the EU does not mean that all these contracts are not valid anymore.
For the UK the only acceptable valid arguments are that they wish to pay nothing. That's what everybody wants if they have debts to pay.

If a couple signs a contract with a third party, a divorce will not change anything. They will stay liable till the contract is fully executed. The UK knows this, that's why they don't discuss that. They just want to reduce the amount as much as possible.
An economical war will be far more expensive then paying 39 billion. EU will lose economical activities with 1 country, the UK will lose economical activities with 27 countries. Guess who will be the big loser.

I read about a lot of companies moving out of the UK, but almost nothing about companies moving out of Europ towards the UK.

https://www.independent.co.uk/news/...40-brexit-effect-city-of-london-a8677126.html

 

[Visaria]

I think if they will do that they will be prosecuted by the EU.

We could nuke Brussels.

 

[Visaria]

EU will lose economical activities with 1 country, the UK will lose economical activities with 27 countries. Guess who will be the big loser.

The EU has a 95 billion pound surplus with the UK. So i'm guessing the EU?

 

[Visaria]

I think you are forgetting that the UK is the 2nd biggest economy in Europe, is the biggest military power in Europe and has the biggest financial centre on the planet. Also our closest ally is the USA. We have record low unemployment, our GDP growth rate is twice the Eurozone in the past 8 months.

We ain't Greece mate.

 

[schweiz]

the biggest financial centre on the planet.

That will be over after the Brexit.
Brexit has taken a "considerable bite" out of financial services jobs with vacancies dropping 39 per cent in the last year, according to new research.
There was also a 28 per cent fall in the number of City professionals looking for work in November compared to a year earlier, recruitment firm Morgan Mckinley found.

https://www.independent.co.uk/news/...40-brexit-effect-city-of-london-a8677126.html

I think you are forgetting that the UK is the 2nd biggest economy in Europe

Wrong again. Germany is number 1, France is number 2, UK is number 3.
https://learn.stashinvest.com/largest-economies-of-europe

the biggest military power in Europe

Russia, France, Germany, and Italy have a bigger army then the UK. British always think they are the biggest and the best. Good they put them on an island.

Your conclusions are too much based on illussions.

 

[Stockolio]

When a couple marries they have both rights and obligations. They both have to contribute to pay all the expenses. They have to agree on that if not they cannot marry.

If they buy a house, each person has part in it. In general (except if agreed differently) they both have to pay and both will receive their part when the house will be sold. In case of a divorce all obligations linked with the marriage (loans and other debts, saving accounts, taxes...) should first be ended, and paid if needed, before the divorce can be final.

One partner cannot say: I am out, you can pay all the bills for which we engaged together. They are both legally bounded to their obligations.

The same is true for membership of the EU. When you enter you have an agreement to sign. With 99.99% certainty nobody on ET ever read this agreement. The EU takes all the time long term engagements that are always approved by the members. These members also approve the amount of money that is paid by each member state, as well the subsidies they would receive. So also their OWN obligations towards the EU. As the UK legally bounded themselves in these long term commitments, they have to fulfill completely their financial obligations. They have to pay their part of the longterm engagements they agreed on.

The UK acts like the person who wants a divorce and wants to dump all the expenses, and engagements and let the others pay. The future engagements have to be calculated and be paid for their part by the UK. They cannot engage, run away and leave the bill with the other members. I think if they will do that they will be prosecuted by the EU.

I wonder how many people on this forum have any clue about the agreement that was signed between the UK and EU when the UK entered. A lot of experts in these matters have problems to solve the is complex situation. But on ET we do not only have experts in trading, we apparently also have experts in EU legislation.

I am not an expert, just read a bit about the situation and the cause of the financial dispute.
All parties envolved will take a hit, there will be no winners except for the lawyers.

Do you think there is a sabotage happening in May's Party ? What is your opinion on the deal being approved before Jan 21st ?

 

[schweiz]

Do you think there is a sabotage happening in May's Party ? What is your opinion on the deal being approved before Jan 21st ?

I am not an expert, so I don't know. But in general politics is a very dirty game where everything is allowed.
I know that the Pro Brexit was just a little bit bigger then Contra Brexit. So it is not clear at all if Brexit will be favourable. The UK is very divided on it what confirms that the story that UK will have huge advantages of the Brexit is not true all. They already adjusted the so called "amount send every week to the EU" to a much lower amount.
If the profits would be really clear, a big majority would have voted for Brexit. But a lot of British want to cancel Brexit or at least have a new referendum. If the Brexit is so fabulous, why would a lot of British want to cancel it?