Just come back guys. We’re stronger together. All in, Euro and all. Let’s do this.
I know I shouldn’t - but I’d be lying if I said I didn’t cackle.
Why the cackle? Our standards are higher in most areas than EU ones, we’re not ‘giving’ anything.
We follow ISO standards in pretty much all of the areas we have competitive advantage. ISO standards are based on improving efficiency, not politics and lobbying, unlike EU regulations. Which are also created with boring, restrictive, Roman civil law.
Also…
Reeves pointed specifically to financial services as one area of opportunity, suggesting that the City of London should be a hub for the whole continent not just for Britain.
London is still the hub for the whole continent, the EU failed miserably to take any markets from the UK.
We follow ISO standards
Try following the Euro and metric standards then. Stop using weight as currency, and currency as weight.
Lol, the EU follows ISO standards
Our standards are higher in most areas than EU ones[…]
Which was also true as EU members. Nothing stopped a member from having higher standards.
ISO standards are based on improving efficiency, not politics and lobbying[…]
Oh my sweet summer child.
London is still the hub for the whole continent[…]
Very true, however brexit hasn’t fully happened yet. There are still a lot of deadlines waiting to happen. I doubt that the EU will be happy with its financial center on the outside of the bloc.
standardization without lobbying and politics… yeah, gave me a chuckle, too.
Deadlines for what?
London clears 900 trillion euro a year in derivatives alone. You need us more than we need EU (not Europe, we are part of Europe, just apart from). We still have the biggest navy and unfortunately we are entering a time where might is right.
London clears 900 trillion euro a year in derivatives alone
And? It made a similar amount when we were still part of the UK so clearly membership of the EU is broadly irrelevant when it come to financial markets so the point is moot.
deleted by creator
Since the above comment was deleted, here’s what I was replying to for anyone wondering:
That all sure sounds awfully successful and self-sufficient and “we’re a strong independent nation, we don’t need no big dumb international union”, golly. And yet, here we are talking about the UK asking very nicely for things they had before and rejected.
No, it says that the success/failure of the UK financial services sector is irrelevant to any discussion about the EU and the pros/cons of membership for the UK.
If you look at the wider economic cost/benefit analysis it’s clear as day as to the advantages we had of remaining part of the EU and that could be somewhat clawed back by rejoining the customs union.
For example:
https://obr.uk/forecasts-in-depth/the-economy-forecast/brexit-analysis/#assumptions
The post-Brexit trading relationship between the UK and EU […] will reduce long-run productivity by 4 per cent relative to remaining in the EU.
Both exports and imports will be around 15 per cent lower in the long run than if the UK had remained in the EU.
New trade deals with non-EU countries will not have a material impact, and any effect will be gradual
Or:
https://www.nber.org/papers/w34459
estimates suggest that by 2025, Brexit had reduced UK GDP by 6% to 8%
We estimate that investment was reduced by between 12% and 18%, employment by 3% to 4% and productivity by 3% to 4%
these forecasts were accurate over a 5-year horizon, but they underestimated the impact over a decade
If we joined a customs union, we’d be allowing the EU to set our tariff rates. No thanks.
What about the cost benefit analysis of being out of the corrupt CAP crap? It takes the largest chunk of budget, rewards rich landowners and is an environmental disaster.
A bit more important than protecting the sale of shit-filled whelks to the French
Yes, hi, I misinterpreted your comment because I’d just woken up. Instead of making a big thing about it, I simply deleted it when I realised a few seconds after posting. But sure.
Clearing deadline extended to 2028 it seems. https://removepaywalls.com/https://www.ft.com/content/3cad1c8d-0478-47d3-a2e1-9bae066de647
I’m well aware that the EU need the city, but if you think Brussels will allow that to go on forever you’re fooling yourself. The EU will not and can not allow their financial center to be outside of its regulatory control. The EU commission was unhappy with the citys grasp of the financial market in Europe before Brexit and wanted to limit its power, only to be stopped by the EU court when the UK was a member. They are not happier now, and the court will not stop them this time.
The UK firms just beefed up desks in the EU… They are all fully compliant and operate within the EU. Like LCH SA.
How can the EU stop those firms?
Why would they want to stop them? They want them within the EU, so… mission accomplished?
We have the biggest individual navy in Europe (excluding Russia, but… well we’ve seen how that has been faring), but we do not have a bigger navy than the EU together. If there is some naval threat that the EU cannot handle, we are in an even worse position to try to face it alone. If we’re operating on might is right logic then we absolutely need the EU, because we aren’t competing with heavyweights like the US and China alone
That’s not my point at all. We are allies. We don’t want to outsource our lawmaking is all. We can make our own rules, common law is more flexible for innovation, our risk appetite is higher than continental Europe.
We are devolving power in the UK, not centralising it somewhere else.
So why bring up the navy in this context?
It’s what the UK brings to the table militarily. Do you not think that’s relevant with Russian and American direction of travel?
Good job, old chap.
If you really need an explanation why this is funny: Brexit was about how unfair and nasty the EU was being towards GB. And now they realised that, oh wait, actually, there were quite a few benefits, can we please have those back? And we’ll even make do without the special treatment, like we got while we were in the EU!
That’s a bit funny to me, if I’m being brutally honest.
To be clear: I’d be all for the UK rejoining the EU (you can even keep your currency, my treat). Would be better for both sides. I’m not laughing at the British people, I’m laughing at the political class.
No one said there were no benefits. What a facile argument. Do better.
agriculture policy for example
EU is winning the race to the bottom. Pretty fucking ironic.
If the EU is winning the race to the bottom, the UK wouldn’t be so desperate to join.
Unless you agree the UK already is at rock bottom.
The only politicians desperate to rejoin have no hope of being in power to do so
All I know is that your people are the ones asking for a “deal” with nothing in return. 🤷♀️
Edit: lol admittedly I had forgotten at this point how the article phrases it. Point being they’re asking for benefits that they used to have before Brexit.
We should have defaulted to EFTA, the Tories couldn’t accept that so they chose a harder Brexit than necessary.
Labour is just negotiating areas we can align on without sacrificing ability to regulate key competitive areas.
She said: “I think further integration will require further alignment. But I’m up for that. My Government, Keir’s Government, is up for that, and we are keen to go through a sectoral level of what areas we think we could have deeper alignment in. And some of that could be unilateral and some of it could be negotiated, but I think there’s big opportunities there.”
I think this was called cakeism in season 3 or 4 of Brexit…?
Financial realities is driving the EU and the UK closer together. Both sides seem a bit more keen on compromise these days it seems.
