Religion and Ethics Forum

General Category => Politics & Current Affairs => Topic started by: jeremyp on June 25, 2016, 11:24:43 PM

Title: The Exodus begins
Post by: jeremyp on June 25, 2016, 11:24:43 PM

HSBC are moving Euro transactions out of London if the UK leaves the single market.

http://www.bbc.co.uk/news/business-36629745

Expect a similar statement from all of the major banks. The reasons why this has to happen are technical, not economic.

Title: Re: The Exodus begins
Post by: L.A. on June 26, 2016, 06:28:54 AM

Quote from: jeremyp on June 25, 2016, 11:24:43 PM

HSBC are moving Euro transactions out of London if the UK leaves the single market.

http://www.bbc.co.uk/news/business-36629745

Expect a similar statement from all of the major banks. The reasons why this has to happen are technical, not economic.

My daughters partner works there, he thought they might end-up moving to the far East, but it looks as if it might be a bit nearer - I'll have to brush-up my French.



I always thought this might a significant portent coming as it did just before the referendum:

http://www.bbc.co.uk/news/business-35818997

The Germans were worried that it might mean the  Deutsche Boerse might effectively be moved to London, now it looks like it could be the opposite!