Britain leaving the EU

[finnbow]

Originally Posted by catswiththum

Well, it will work out. People that want to buy, sell, do business aren't going to sit around wringing their hands. They will get on with it.

We'll see if London remains the financial center of the EU when it no longer belongs.

[catswiththum]

Originally Posted by finnbow

We'll see if London remains the financial center of the EU when it no longer belongs.

I thought about that, too. Berlin the obvious successor as far as the EU - the London financial firms have such a worldwide scope and infrastructure in place I believe they will continue to be a major force.

[finnbow]

Originally Posted by catswiththum

I thought about that, too. Berlin the obvious successor as far as the EU - the London financial firms have such a worldwide scope and infrastructure in place I believe they will continue to be a major force.

At the moment, Frankfurt is the biggest financial center in continental Europe. It'll be interesting to see what happens from here on out. The rest of the EU may not be too happy about giving Germany more say within the EU than they already have.

[catswiththum]

I also think once the dust settles the British Pound will regain it's status as a favorite currency - perhaps even more so. Although Britain never adopted the Euro, I think it is possible Sterling may eventually be viewed more favorably and perceived as free from euro-zone upheavals (Balkan debt relief, etc.) and slow monetary policy.

[catswiththum]

Originally Posted by finnbow

At the moment, Frankfurt is the biggest financial center in continental Europe. It'll be interesting to see what happens from here on out. The rest of the EU may not be too happy about giving Germany more say within the EU than they already have.

Well, Germany has done the work. If the French, Dutch, Spanish, etc. want to be top dog they need to get their noses to the grindstone.

[merrylander]

Originally Posted by finnbow

At the moment, Frankfurt is the biggest financial center in continental Europe. It'll be interesting to see what happens from here on out. The rest of the EU may not be too happy about giving Germany more say within the EU than they already have.

Ah so, then will the LIBOR become the FIBOR?

[finnbow]

Originally Posted by catswiththum

I also think once the dust settles the British Pound will regain it's status as a favorite currency - perhaps even more so. Although Britain never adopted the Euro, I think it is possible Sterling may eventually be viewed more favorably and perceived as free from euro-zone upheavals (Balkan debt relief, etc.) and slow monetary policy.

Definitely possible, akin to the Swiss Franc. However, the relative strength of both currencies (until the Pound's recent drop) make both places insanely expensive. I was in London for 4-5 days in September. Great fun as always, but crazy expensive for food, drink and lodging. Switzerland has been that way for decades.

[Tom Joad]

https://www.theguardian.com/commenti...lite?CMP=fb_gu

“A large constituency of working-class voters feel that not only has the economy left them behind, but so has the culture,” the American political philosopher Michael Sandel said in a recent interview. “The sources of their dignity, the dignity of labour, have been eroded and mocked by … globalisation, the rise of finance, the attention that is lavished by parties across the political spectrum on economic and financial elites, [and] the technocratic emphasis of the established political parties.” A lot of the energy animating Brexit, said Sandel, had been “born of this failure of elites”.

As a journalist working in the 1960s and 1970s, I grew used to the story of the factory closure, but only in the 1980s did these apparently random events accumulate to become known by a word, deindustrialisation, that implied a process governments either couldn’t stop, chose not to stop, or took steps to encourage.

The effects across large parts of Britain were spectacular. The big industrial cities had stored up enough capital in terms of public institutions and professional jobs to survive and sometimes prosper as regional capitals. But their hinterlands – the settlements strung along smoky valleys and perched on the oily river’s edge – began to look as abandoned as goldrush towns.

more

[finnbow]

Originally Posted by Tom Joad

https://www.theguardian.com/commenti...lite?CMP=fb_gu

more

Polls showed that areas that had the most to lose and the least to gain from leaving the European Union were the places where the referendum saw the most support.

https://www.washingtonpost.com/news/...egret-it-most/

Just like Trump supporters. Their racism and xenophobia draws them to a party and its candidate, though it is against their own best interests. Talk radio in the US and tabloids in the UK have a lot of influence on the "poorly educated" (Trump's self-stated constituency).

[Rajoo]

http://www.politicalchat.org/newrepl...reply&p=320724