Bloomberg: investment banks to begin moving jobs following Art 50

Kohoutek

A_Medium_Size_Jock wrote: »

Secondly (as a result of the above) such falls in GDP are by no means guaranteed.
For example, should the EU become embroiled in whatever disaster currently waiting in the wings (be it migrants, failing banks or whatever) then the UK stands a very good chance of being viewed as the "wise man" by investors and the markets.
The consequences of which would (as you know only too well) be a tremendous boost to the economy of the UK.

If the EU is embroiled by a disaster, then it's difficult to imagine a scenario where that doesn't adversely affect the UK too. Failing European banks would certainly not be good for the UK - the banking system is very interlinked.

We can leave the EU, but we can't leave the European economy, as much as some people would like that.

Kohoutek

westernpromise wrote: »

And Japan. And China. And Singapore. And Dubai. And India. Etc.

Non-European banks access the EU by having a legal entity in the EU. Most of them are based in London. If London can no longer offer access to the EU financial services market, then obviously they will have to move business to the continent, because the EU ex UK is much bigger market than the UK.