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Merged Now What?

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Francesca R said:
Which ones are doing this?
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Confidentially precludes details atm but there'll be public discussions soon.

Darat said:
Yep my mate's company has been making provisional plans to move most of their London office to their Paris office. Looks lije that will be going ahead so that's him out of a job. (He's back office support staff in an international bank.)
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Paris, Frankfurt and Dublin are popular choices. My employer is favouring the latter two.

Darat said:
I know of one that has already been making provisional plans to move the bulk of their London office to their Paris office if the vote was leave.
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I believe they all have, from conversations with colleagues in various companies and a few people seen checking out offices in Dublin in the last few months.

Francesca R said:
The EU will respond to the UK's exit in line with what it thinks is its collective best interest, which may break down to the best interests of the biggest constituent members which themselves may only be partly aligned.
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The decisions will be made by qualified majority voting.
 
Degeneve said:
The UK will probably try to negotiate the conditions of the exit and new relations with the EU in one single package.
I however doubt that the member States of the EU agree on this principle. I think they will rather impose a negotiation on the exit conditions first and a negotiation on the relations between the UK and the UE as a second step.

The whole process could furthermore become even more complicated (if possible) if Scotland votes for its independency and applies for membership of the EU even before the UK exit from the EU is officialy enacted.
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Not sure that this would be possible, Article 50 is resignation only, not re-renegotiation. If we left, we could re-join, but would be subject to new terms and conditions, one of which would undoubtedly be joining the euro.
 
Degeneve said:
The UK will probably try to negotiate the conditions of the exit and new relations with the EU in one single package. I however doubt that the member States of the EU agree on this principle. I think they will rather impose a negotiation on the exit conditions first and a negotiation on the relations between the UK and the UE as a second step.

The whole process could furthermore become even more complicated (if possible) if Scotland votes for its independency and applies for membership of the EU even before the UK exit from the EU is officialy enacted.
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Stuart said:
Not sure that this would be possible, Article 50 is resignation only, not re-renegotiation. If we left, we could re-join, but would be subject to new terms and conditions, one of which would undoubtedly be joining the euro.
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I read Degeneve's post as Britain attempting to negotiate what the post-EU position will be at the same time as negotiating the exit, not that there'll be an attempt to re-join the EU.
 
The Don said:
I read Degeneve's post as Britain attempting to negotiate what the post-EU position will be at the same time as negotiating the exit, not that there'll be an attempt to re-join the EU.
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This is exactly what I meant...
 
The Don said:
I read Degeneve's post as Britain attempting to negotiate what the post-EU position will be at the same time as negotiating the exit, not that there'll be an attempt to re-join the EU.
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Again, not sure if this would be possible to do in one set of negotiations, two parallel ones maybe. If I hear from my primary source (my daughter, studying EU law in Germany) to the contrary, I'll update here. There may be other, more qualified people to jump in in the meanwhile.
 
Stuart said:
Again, not sure if this would be possible to do in one set of negotiations, two parallel ones maybe. If I hear from my primary source (my daughter, studying EU law in Germany) to the contrary, I'll update here. There may be other, more qualified people to jump in in the meanwhile.
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I agree, not possible.

First the exit, then afterwards the post exit world (which will necessarily be dependent on the Exit terms which is why they cannot be negotiated in parallel). There will be a period of many years where we'll have to be on default term until the final position is agreed.

As has been pointed out; it took Greenland, who really were only bickering about fish, five years to negotiate terms - people have said ten years for the UK - I think that very optimistic.
 
It's begun

Sources within Morgan Stanley say it has already begun the process of moving about 2,000 of its London-based investment banking staff to Dublin or Frankfurt. And it has a taskforce in place.

The jobs which would be moved from the UK would be in euro clearing but also other investment banking functions and senior management.
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http://www.bbc.co.uk/news/live/business-36561095

No doubt 2,000 or more jobs will suddenly spring into being to replace these.....



edited to add......

more "good news" from that same source

Drivers could face higher petrol and diesel prices as a result of the vote to leave the EU.

Brian Madderson, chairman of the Petrol Retailers Association, said that a rise of 2 to 3 pence a litre was on the cards.

He said the plunge in the value of the pound against the dollar would have an immediate impact on wholesale fuel prices, which are quoted in dollars.
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I guess that higher petrol prices will lead to environmental benefits :rolleyes:
 
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The Don said:
It's begun



http://www.bbc.co.uk/news/live/business-36561095

No doubt 2,000 or more jobs will suddenly spring into being to replace these.....



edited to add......

more "good news" from that same source



I guess that higher petrol prices will lead to environmental benefits :rolleyes:
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It's not just the high profile jobs that will go it is all the support jobs and of course all the jobs dependent on those support jobs it's a long chain. The ramifications are huge for our apparently important financial services.
 
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