EU to Britain: No access to single market without migration
Angela Charlton and Lorne Cook, Associated PressJune 29, 2016
ricky l1 second ago
Britain may the wrong decision to do a Brexit - and now face the same consequences that it want to avoid and far worst - where all the privileges as a member is gone.
Britain geographically has to trade with EU in order to thrive. By leaving it, it will be isolated without a vast market.
Britain should just sugar quote and manage the adverse impact of the EU union instead of breaking up from it and do it alone.
The British Government should transfer the benefits to those citizens hurt by the EU union, creating jobs, give more tax break and other benefits - so that this group that is sidelined will support the Union and not throw spanner into it.
ricky l1 second ago
Brexit now is a "lose-lose" outcome for Britain.
While if Britain stay with EU but manage and redistribute the benefits for those who lose out, Britain will achieve a "win-win" outcome.
ricky l1 second ago
Without free access to EU market, Britain will become a limbo state - as it need to negotiate with Countries all over the World from scratch - as all its agreement is done under the EU umbrella.
Now the "leave leaders" who campaign to leave will now have to answer to the British business how to move forward in this limbo state. And if British business fail or perform badly, lead to many job losses - how will this "leave leaders" answer to the British citizens ----- a big con job.
ricky l1 second ago
And if British thinks that EU is going to give many benefits to Britain after it exit, Britain will be very wrong - because EU will not - so as not to let member Countries to follow Britain example.
Donald Trump has done "Britain in" - and the same as the "leave leaders" in Britain.
ricky l1 second ago
Anyone who listen to Donald Trump and follow what Donald Trump - is as good as "committing suicide" - as he is the "merchant of death".
ricky l1 second ago
The worst scenario Britain will face will be :-
(1) Banks and financial institutions will pull out and move into EU - and Britain will stop to become a financial hub. Already Moody, and other reputable rating has downgraded Britain status.
(2) Business will move out of Britain and move into EU - closer to the market - and British jobs will be lost.
(3) Talents will move out of Britain and move into EU.
Wonder what Donald Trump and the Britain leave leaders is going to answer for this.
Other EU members will have to be extremely mindful of the consequences facing them if they pull a fast one like Britain did - without knowing the full consequences of a Brexit.
ricky l1 second ago
Well Donald Trump solution will be - file for a bankruptcy.
JPMorgan could move thousands of staff out of UK: report
- Posted 07 Jul 2016 15:10
- Updated 07 Jul 2016 16:40
MILAN: JPMorgan Chase & Co could be forced to move thousands of staff out of Britain if the country loses its automatic right to sell financial services to the European Union after last month's Brexit vote, bank CEO Jamie Dimon told an Italian newspaper.
Currently, banks based in the UK can sell services freely across the EU under a "passporting" system, considered the most significant feature of the EU single market for financial firms. But that is now in doubt after Britons voted to leave the bloc.
"The key issue is the 'passport rule' that we have in London and allows us to provide services to clients in the European Union," Il Sole 24 Ore quoted Dimon as saying on Thursday.
"However, if the EU imposes new conditions on Britain ... the worst-case scenario is we would have to move some thousands of employees to other branches in the euro zone," Dimon said.
JPMorgan has 16,000 employees in Britain. Its European headquarters are in London and the bank has offices in the English coastal city of Bournemouth as well as in Scotland.
Those locations helped JPMorgan produce US$14.2 billion worth of revenue last year from operations across Europe, the Middle East and Africa.
(Reporting by Francesca Landini; Editing by Mark Bendeich)
- Reuters
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