FTSE rising whilst prospect of FTA seems to be fading

Thrugelmir

Alexland said:

Thrugelmir said:

There's a lot of legalese to be drafted. 

Oh well it looks like they have a rough draft agreed now.

More interesting (and concerning news) is that Alibaba is being investigated by China. Follows the pulling of the ANT floatation at the last minute. Seems as if China is flexing it's muscles in 2020. Political risk is firmly back on the agenda. 

BananaRepublic

Sailtheworld said:

John464 said:

All I know so far is this will be a deal that puts up barriers to trade we haven't got now

A vote to leave the EU was a vote to make trade with the EU more difficult. This was known when we stepped into the polling booths on referendum day.

No it wasn’t. There may have been many reasons to favour Brexit, but arguably the key one was to escape from ever increasing political and economic union with the EU. An increase in trade friction was an inevitable side effect. Frictionless trade at any price is not desirable. 

Perhaps the most surprising aspect of this deal is the apparent lack of a payment for EU access. Boris might have pulled off a coup, but the devil is in the detail, and no doubt surprises might be found when the deal is fully dissected. I don’t think Mrs May could have done this. It was said she could go to DFS and come out with a sofa at full price. 

Thrugelmir

BananaRepublic said:

Sailtheworld said:

John464 said:

All I know so far is this will be a deal that puts up barriers to trade we haven't got now

A vote to leave the EU was a vote to make trade with the EU more difficult. This was known when we stepped into the polling booths on referendum day.

Perhaps the most surprising aspect of this deal is the apparent lack of a payment for EU access. 

Works both ways.  Tariffs as in import duty would be a payment. The broader WTO rules govern what is permissable or not. Access charges would be illegal. 

Alexland

BananaRepublic said:
Boris might have pulled off a coup, but the devil is in the detail, and no doubt surprises might be found when the deal is fully dissected.

The EU published a list of things not included in the deal including financial services passporting which I would have expected to be fairly important.

Thrugelmir

Alexland said:

BananaRepublic said:
Boris might have pulled off a coup, but the devil is in the detail, and no doubt surprises might be found when the deal is fully dissected.

The EU published a list of things not included in the deal including financial services passporting which I would have expected to be fairly important.

EU is in no rush to engage on the topic. Dislodging London's influence is a known objective. 

NottinghamKnight

Thrugelmir said:

Alexland said:

BananaRepublic said:
Boris might have pulled off a coup, but the devil is in the detail, and no doubt surprises might be found when the deal is fully dissected.

The EU published a list of things not included in the deal including financial services passporting which I would have expected to be fairly important.

EU is in no rush to engage on the topic. Dislodging London's influence is a known objective. 

Though for the EU it's far better to have a world financial capital in London than in New York, Hong Kong, Shanghai etc
I wouldn't be at all surprised if the EU elite have effectively sold their populace out, though no different to the british approach many may argue. UK has been in decline for a century but still the fifth largest economy, relationship with the US is important, permanent seat on UN security council (ie 50% reduction for EU with Brexit).  

Alexland

NottinghamKnight said:

Though for the EU it's far better to have a world financial capital in London than in New York, Hong Kong, Shanghai etc

I think they are hoping it might be Paris...
Ps. Merry Christmas everyone.

BananaRepublic

Alexland said:

BananaRepublic said:
Boris might have pulled off a coup, but the devil is in the detail, and no doubt surprises might be found when the deal is fully dissected.

The EU published a list of things not included in the deal including financial services passporting which I would have expected to be fairly important.

Yes, I noticed that. An odd omission. 

BananaRepublic

Thrugelmir said:

BananaRepublic said:

Sailtheworld said:

John464 said:

All I know so far is this will be a deal that puts up barriers to trade we haven't got now

A vote to leave the EU was a vote to make trade with the EU more difficult. This was known when we stepped into the polling booths on referendum day.

Perhaps the most surprising aspect of this deal is the apparent lack of a payment for EU access. 

Works both ways.  Tariffs as in import duty would be a payment. The broader WTO rules govern what is permissable or not. Access charges would be illegal. 

I don’t understand your post. Norway, Switzerland and Liechtenstein all pay for access to the EU markets, Norway pays a fortune albeit roughly 100 Euros per person per year which is on a par with the UK contribution. 

It is conceivable they allowed for the fact that we are a net importer of EU products excluding services. 

BananaRepublic

Alexland said:

NottinghamKnight said:

Though for the EU it's far better to have a world financial capital in London than in New York, Hong Kong, Shanghai etc

I think they are hoping it might be Paris...
Ps. Merry Christmas everyone.

Or in Frankfurt.