City of London wants to continue to trade in Euros post Brexit

Discussion in 'Western Europe' started by The Rhetoric of Life, May 22, 2017.

  1. The Rhetoric of Life

    The Rhetoric of Life Banned

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    The Financial heart of the UK has it's own line marked in the sand.

    We want to continue to trade in Euros.
    It's a multi Trillion dollar a year trade and it's one that could be taken if the EU decide to become a banana republic about the Euro saying it's only allowed to be traded in the EU.
    All that money spent in the 1980s and 1990s to make sense of European money when £1.00 = 800 lira before the millennium.
    The City trades in US dollars and Japanese yen and British pounds as well as the Euro.
    The UK has made it clear what it wants.


    I am guilty of only caring about national deals in trillion dollar amounts.
    Sure, a multi Billion deal is okay, but, so what?
    Trillion dollar deals, now you have my attention (I can only speak for me) but, that's how I am.
     
    Last edited: May 22, 2017
  2. Baff

    Baff Well-Known Member

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    They will have no say in what we trade.
    Just as America has no say in who trades it's dollars.

    If we own some Euro's, we will be free to trade them as we please.


    What the Euroboys want is to take the clearance contracts for the Euro away from the banks in London and give them to the banks in their own respective countries.
    But their banks suck arse. So they most likely won't. They will however still want to.

    Politics however > economics.


    They will not take the most economically smart decisions and place them in higher priority to their political ones.
    They will do some counter intuitive and downright stupid **** to punish us now.
    It is going to happen.
     
    Last edited: May 22, 2017
  3. The Rhetoric of Life

    The Rhetoric of Life Banned

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    I believe Europe want to become a banana republic by being someone who wants a say.

    You're right, as things stand, they don't have a say; but they're pushing for that say to stop London from being a financial hub by blocking services access to the EU post Brexit talking about 'having to be in the EU' like it was a banana republic for its currency.
     
    Last edited: May 22, 2017
  4. Baff

    Baff Well-Known Member

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    Evceryone in the world is pushing for London to stop being a great financial hub and for them to replace it with their own.

    The real threats there is from New York and Hong Kong.
    The EU wishes it was one, but it isn't.
    Vanity clowns talking themselves up with their own arse juices.

    Minor threat in a world full of really big ones.


    Services access in Europe are not governed by the EU.
    Those agreements are all bilateral and not covered by the EU single market which pertains to goods.

    We were promised a free market in services, it's why we joined, it's what Mr Cameron was still negotiating for in our final negotiation.
    But we never got it. And we never will.

    These people are in competition with us. "The greater good" Is a lie.
     
    Last edited: May 22, 2017
  5. The Rhetoric of Life

    The Rhetoric of Life Banned

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    Hold up hold up hold up...


    We're talking time zone...

    London needs cities like New York and Hong Kong to trade with, especially in this around the clock trading going on.
     
  6. Baff

    Baff Well-Known Member

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    It doesn't need to trade with them. It needs to trade with the people who trade with them.
    To cut them out of the trades and replace them.

    And they need to do the same to London's banks. That's the game and it is played hardball style.

    Time zone is irrelevant. London can open at any time day or night.
    Can operate shifts.
    Traders do it. The LSE can do it too, if they wish.
     
    Last edited: May 23, 2017

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