International Banks are Threatening Britain to Slow Down Brexit
Big banks are threatening to ship British jobs overseas and cripple the economy if the nation’s Treasury fails to slow the nation’s exit from the European Union. This would leave Britain under the thumb of Brussels for longer than the nation’s voters have demanded. The outrage has already begun. Two camps arose after the election. One for a quiet exit, and one for a longer term exit. Markets seemed to show power brokers had opted for a longer term exit. That exit is going to only take longer now if the international banks get their way. City of London bankers have warned the UK government....
Related News
British billionaire investor Guy Hands has reckoned that Britain will become “the sick man of Europe” and may be forced to seek a bailout from the International Monetary Fund (IMF) if it does not renegotiate its Brexit deal. The billionaire insisted the United Kingdom’s current economic woes are the result of a poorly negotiated Brexit deal and not the Liz Truss government’s controversial tax cut proposals. Billionaire Says Poor Brexit Deal Is Source of UK’s Economic Woes The British billionaire investor Guy Hands has warned that Britain needs to renegotiate....
As Britain plans to exit from the European Union, London-based fintech companies plan to exit Britain. There have been discussions about the United Kingdom exiting from the European Union for a while now. Most of us know that the European Union is not doing that great when it comes to the economy. Many EU countries have been suffering from economic slowdown for years. Greece has been in financial ruins for years now, France is not doing so good either, Germany, Netherlands and rest of the Europe are affected by the counter-sanctions imposed by the Russian Federation. The United Kingdom has....
First there was Brexit or No Brexit, now the key question to ask is whether there will be a hard or a soft Brexit. If the United Kingdom takes a hard stance on the movement of people and completely moves out of the European Union in any shape and form including the EEC, then the chances are that the British Banks will lose their so-called passporting rights. Banking matters to Britain. Britain is the largest market for Euros outside of the common currency area. It is also a country that is dependent on its financial services industry for generating a large measure of its wealth. The UK’s....
France wants a piece of Britain’s financial industry, and the nation says it might make a bid if Brexit doesn’t play equal in Brexit negotiations. According to a London City figure, French officials will aim to harm Britain’s financial industry as payback for Brexit. According to Anthony Browne, chief executive of British Bankers’ Association, sources said confidentially a plot to prevent UK access “under a so-called equivalence regime” would preclude Britain from getting access to EU markets “provided UK rules are as strong as those overseas.” According to This Is Money UK: “The warning....
The CEO of TransferWise, a money transfer company that is among the most successful FinTech startups in Europe, has said at a conference in London that it will be removing its European headquarters from the English capital to maintain access to the single market after Britain leaves the European Union (EU) in two years. Speaking at the International Fintech Conference in London, Taavet Hinrikus, who co-founded TransferWise with Kristo Kaarmann, in 2011, said that due to Brexit if they were to restart they would not pick Britain as its location choice. A report from Reuters states that....