Tariffs...

[fillyboy]

You have repeatedly asked motman what are the benefits of resigning from the EU

He has told you nothing

That is, in fact, the total of the benefits. Nothing. So on this occasion he is right. Nothing.

Loads of benefits by leaving, but for me, at this point in time, the numero uno reason is avoiding the bailout European Banks will shortly (next 12 months) require.
Lehman Bros went bust in the middle of a financial crisis, Deutsche Bank are almost insolvent after 10 years of a bull market, Deutsche Bank are more highly leveraged than Lehmans ever were.
Ouch!

 

[ellal]

Loads of benefits by leaving, but for me, at this point in time, the numero uno reason is avoiding the bailout European Banks will shortly (next 12 months) require.
Lehman Bros went bust in the middle of a financial crisis, Deutsche Bank are almost insolvent after 10 years of a bull market, Deutsche Bank are more highly leveraged than Lehmans ever were.
Ouch!

And you believe that despite UK banks not being exactly in the best of positions themselves, leaving the EU prevents cross contagion?

Of course leaving the EU without a deal means an end to 'financial passporting', so say goodbye to a large chunk of the City of London's wealth creating opportunities!

What are those other 'loads of benefits' btw?

 

[Notch7]

Loads of benefits by leaving, but for me, at this point in time, the numero uno reason is avoiding the bailout European Banks will shortly (next 12 months) require.
Lehman Bros went bust in the middle of a financial crisis, Deutsche Bank are almost insolvent after 10 years of a bull market, Deutsche Bank are more highly leveraged than Lehmans ever were.
Ouch!

Mmm.

Have a look at how much reserves Germany has compared to the UK.

 

[fillyboy]

Mmm.

Have a look at how much reserves Germany has compared to the UK.

Mmmmmm

Germany aint Deutschebank.

 

[fillyboy]

Of course leaving the EU without a deal means an end to 'financial passporting', so say goodbye to a large chunk of the City of London's wealth creating opportunities!

The City of London will carry on as usual, 'passporting' will carry on as usual (although it might undergo a name change, 'equivalence' has a certain ring to it).
Don't forget that although the UK has thousands of transactions with the EU, the EU also has thousands of transactions with London, in fact the EU would probably have more transactions (and therefore dependency) were it not for the number of 'third' countries who piggy back on the UK passports, USA, Far East etc.
If the worst happens, no agreement on 'equivalence' and we ourselves become a 'third' country, it simply means several banks will need to open a small branch in Estonia, sorted.

 

[Notch7]

Mmmmmm

Germany aint Deutschebank.

Deutsche bank is German.

How would it come about that the UK would shore it up.

 

[fillyboy]

Deutsche bank is German.

How would it come about that the UK would shore it up.

Do you understand the difference between the words 'German' and 'Germany'?
of course Deutsche bank are German, but they don't own the assets of Germany as in the country, do they?, if the UK is still in the EU, why wouldn't they be involved in a bailout, it wouldn't be the first time, would it?

 

[ellal]

if the UK is still in the EU, why wouldn't they be involved in a bailout, it wouldn't be the first time, would it?

It would actually...

And could you tell us if the EU bailed out UK banks in 2008/2009?

Do you understand the difference between the words 'German' and 'Germany'?

Do you understand the difference between an individual EU country and the ECB?

 

[fillyboy]

Do you understand the difference between an individual EU country and the ECB?

Do you understand that the ECB is capitalised by individual EU countries, 55 billion by the UK last time I looked. So, Like I said, any bailouts will be part funded by us.
Any more useful insights, clown.

 

[fillyboy]

And could you tell us if the EU bailed out UK banks in 2008/2009?

Yes I can tell you, No, they did not. The bank of England took care of that, the US and the EU eventually followed suit, we also bunged Ireland quite a few quid if I recall correctly.

 

[Notch7]

Any more useful insights, clown

Bless

 

[ellal]

Yes I can tell you, No, they did not.

Well done...

And yet you claim that the "numero uno reason is avoiding the bailout European Banks will shortly (next 12 months) require"

So why do you think the UK will be required to take direct part in that 'bail out' you predict, when there was no obligation for the UK banks to be 'bailed out' by Europe?

Do you understand that the ECB is capitalised by individual EU countries, 55 billion by the UK last time I looked.

As is the IMF...

But if we leave the EU, I suppose you expect to get that 55 billion back, despite it as you say being 'capitalised' (owned) by individual countries?
(Germany alone has 35x that amount in the ECB, just to put things into perspective)

Because nowhere has that been proposed...

So our money stays in, but we have no say about how it is used...

Typical quitter 'logic'

The City of London will carry on as usual

Did the unicorns tell you that?

 

[noseall]

it simply means several banks will need to open a small branch in Estonia, sorted.

The attractiveness of The City is because it is located in London and all the benefits that goes with a UK location.
The financial sector will take a massive hit, make no bones about it. Already, billions of assets have been moved to EU27 countries. Expect that to increase in the near. Perhaps filly thinks that "Lloyds of Estonia (formerly of London)" has the same ring to it.

Brexit. Lol.

 

[JP_]

if the UK is still in the EU, why wouldn't they be involved in a bailout

who bailed out RBS? Germany? France? Romania? No, the UK did.

But, bearing in mind that we'll never recover the £45 billion of tax payers money used to bail it out, would you not prefer to share that bill with some other governments?

 

[JohnD]

Loads of benefits by leaving...

But can't say what they are.