Banks relocating to EU?

[SirGalahad]

Only when they were caught out and after a quarter of the population had lost their savings. They shouldn’t have been allowed to get in that position in the first place.

Laissez faire economics, deregulation of 1986 onwards.

You can't complain that's the Free Market.

 

[SirGalahad]

In financial services, London is big, it's going to get a lot bigger.

Hmm.

Not off to a good start. But lets sit back and see how things transpire.

https://www.ft.com/content/586d32c3-ffc9-488b-9763-07dac3a30354

London unlikely to regain lost EU share trading, warn City figures

Gianluca Minieri, deputy global head of trading at fund manager Amundi, said it was “a stunning own goal for the UK. And this is only the beginning.” More volume would move to where investors could get better prices and liquidity, he added.

About €6bn of shares that typically change hands in the City were traded in the EU on Monday, and a similar value on Tuesday, as investors became accustomed to the new regime. The figures equate to almost half of the amount of business that London banks and brokers would normally handle.

 

[ellal]

Only when they were caught out and after a quarter of the population had lost their savings. They shouldn’t have been allowed to get in that position in the first place.

You continue to amaze us with your ignorance...

Savings weren't 'lost', they were guaranteed as in the UK...

Sure things got tough...

But because loans (mainly foreign currency ones) became more expensive, there was also a general debt reduction...

Kind of like what you're getting, but people there still had to keep on working

How did Iceland clean up its banks?

Can you tell us how the UK has 'cleaned up' it's banks?

But hey, if you don't get it yet...

IMF Survey: Iceland's Unorthodox Policies Suggest Alternative Way Out of Crisis

Read and learn, old man...

Oh, and public services are still running pretty much as before instead of being cut to the bone!

 

[Mottie]

Takes it up with the economist then. Seems like they may need you to explain things to them luv.

https://www.economist.com/media/pdf/meltdown-iceland-boyes-e.pdf

"In 2008 Iceland’s banks collapsed, wiping out 50,000 people’s savings, plunging Icelanders into debt and putting 25% of homeowners into mortgage default".