How will they respond when the life they know is completely turned over?
People phoned 999 when KFC ran out of chicken
I suspect they will respond... badly
Thats the reality of the labour party – hopelessly split
Both major parties are. That's because Brexit has split the country on a whole new fault line that runs through regions and parties and even families. And before anyone mentions Scotland it was pretty close there too in every constituency, there's only a small bias to remain.
OK I have a master plan.
1. No deal Brexit.
2. Declare war on Europe.
3. Lose.
Could we not just go for partition? The British were really good at that in the past. And it always worked out really well. Couldn't we just get some retired colonel draw an arbitrary line somewhere in the UK and the racist thickos can go and live in their Brexitty bit, ruled by Emperor Rees Mogg and the rest of us can have the good bit that won't immediately revert to some lord of the Flies style hell, and stay in the EU
London independence is the answer. The Brexiters think we should be like Singapore - well the rest of the country can be Malaysia then.
Scotland and London could build walls and go District 9 on the gammons.
OK I have a master plan.
1. No deal Brexit.
2. Declare war on Europe.
3. Lose.
Trouble at mill - the love in was never going to last. No10 say there is "no change" to PM's negotiating team, and Falconer and Braithwaite are not being invited onto it. ERG are furious, and insist this was promised to them yesterday by Gavin Barwell
Tweet from the Sun.
LOL!
Project fear? Or peanuts? Or "not all of their >whatever<' ?
https://twitter.com/tomboadle/status/1090604274080514053?s=21
No one ever accused Barclays of being stupid.
If you're referring to the whistle blowing scandal, sounds like sour grapes.
Remainers said this would happen. It did. 190bn of assets being relocated is going to hit the economy and exchequer hard.
And this is just the start.
Kiss your public services goodbye. The British public were warned, they are now going to be shat on from stratospheric heights.
But.... but... blue passports
A High Court judge has ruled that Barclays can shift assets worth €190bn to its Irish division as it “cannot wait any longer” amid continuing political uncertainty.
replace back stop with backdoor into and out of europe
I’ll try and find some links from the press here in Sweden about this bit of a mess, but the feeling in the office is that the UK is just going collectively mad.
What saddens me most about this is use of the word "collectively." If other countries are swallowing the "will of the people" horseshit too then that's absolutely tragic.
German press is the same, mind. Thinks the UK has gone crazy. No one can understand why the UK ever voted to leave.
To be fair, it's pretty well documented at this point if they want to find out.
Remainers said this would happen. It did. 190bn of assets being relocated is going to hit the economy and exchequer hard.
Not as much as one might imagine, much of these are the assets of their European branches so for tax purposes the UK cedes primary taxing rights to the country where the branch is located already.
Link mefty?
But…. but… blue passports
Mandated by the league of nations in the 20s, now an iconic tribute to other countries telling us what to do.
Read the judgement
I'm (sadly) proved right.
Sounds like much of European Union is about to stick two fingers up at the British nutters (that's all of us).
https://www.bbc.com/news/world-europe-47056349
Could we not just go for partition?
We could ask India and ****stan to manage that for us.
I'm not actually against the proposal but the divvying up could be tricky. It makes sense for the counties closest to Europe to remain, but actually those furthest away are more desirable.
Cheers Mefty.
^ that Barclays story. That's close to 10% of our GDP they are moving out of UK into Europe...? 😱
It is also about 13.5% of their balance sheet, comparing a bank's balance sheet to Gdp isn't really very useful.
Are we going to see Ireland partitioned?
That went pretty good last time around, didn't it.
Just when you thought it couldn't get any worse for poor Theresa...
Its a tough call which example of Britain drawing random lines down maps went the best, as they were all such roaring successes.
And I bet that none of those places who were at the receiving end of arbitrary British colonial division aren't all just sat back with the pop corn, pointing at us now and absolutely pissing themselves laughing
Whoooo communist Coup d'état!
That surely has to rank as the most pointless meeting in British Political history?
But... but... Magic Grandad...
So, what weapon do you think Corbyn used to do the deed? A potted plant? A loaf of soughdough? An avocado? Hillary Ben's future urn?
Shits getting serious now.
He's a commie. It'll have been a poison-tipped umbrella.
He'll have dipped it in rancid hummus
It is also about 13.5% of their balance sheet, comparing a bank’s balance sheet to Gdp isn’t really very useful.
A fair point, and poor comparison.
I guess I am sitting here thinking 'what jobs, offices, income, profit and more?' move with that £190bn, out of the UK...
Just to be perfectly fair, Germany did a stand up job of line drawing a few years ago.
He’s a commie. It’ll have been a poison-tipped umbrella
IIRC Stalin was a fan of Ice-axes.
guess I am sitting here thinking ‘what jobs, offices, income, profit and more?’
Jobs and offices, not many for now, presumably it is simply where the assets are held that is changing, not necessarily where they are being managed from? Obviously all the income and profit (and tax) will be disembarking the Titanic before it leaves port.
I guess I am sitting here thinking ‘what jobs, offices, income, profit and more?’ move with that £190bn, out of the UK…
As I said on the previous page, far fewer than most would think because for all intents and purposes, other than legal title, these assets are largely already abroad in the countries where the branches are located.
Just to be perfectly fair, Germany did a stand up job of line drawing a few years ago.
To be fair to Germany, the Ruskies had a pretty big hand in that job.... and the line wasn't random but followed a border that we Brits had helped to define at the end of WW2
As I said on the previous page, far fewer than most would think because for all intents and purposes, other than legal title, these assets are largely already abroad in the countries where the branches are located.
But it's still leaving & it wouldn't be if it wasn't for Brexit. So forgive me for struggling to see an upside.
Why do they need to be moved if they are already located abroad? Sorry, not in banking. Maybe I'll ask the missus.
Regulation, branches of a non-EU company are more restricted in what they can do.
Regulation, branches of a non-EU company are more restricted in what they can do.
Is that an upside to Brexit?
Regulation, branches of a non-EU company are more restricted in what they can do
So the asset managers for 160+ billion have to be relocated?
Potentially, there are plenty of people who think the UK's regulatory environment can be improved post Brexit. Plenty of people think MIFID II has not achieved any significant improvement for the end consumer and certainly not sufficient to compensate for increased costs that they will inevitably bear.
The non eu banks are restricted in what they can do in the EU - hence moving from the UK into the EU. Bang - another bit of revenue lost to the UK.
If you think there will be more and tighter regulation in a post EU UK then you are seriously deluded. the drivers behind this are out to make more money from deregulation and tax haven / avoidence - thats the game plan
These aren't Asset Management assets, which don't belong to the manager, and therefore don't appear on the balance sheet.
