Posted on 07/29/2019 9:28:39 AM PDT by Enlightened1
The move will see the European Commission blocking Argentina, Australia, Brazil, Canada and Singapore from accessing parts of the European Union's financial market, according to the Financial Times.
The five countries are deemed as no longer regulating credit rating agencies as rigorously as the bloc — thereby removing them from a position which made it possible for European banks to rely on those ratings, reported the Financial Times,
The European Commission will be blocking five countries from accessing parts of the European Union's financial markets — in a move that could hit the United Kingdom after it leaves the bloc, according to a Financial Times report on Sunday.
The decision will see the Commission removing certain market access rights from Argentina, Australia, Brazil, Canada and Singapore, the FT reported.
The bloc grants financial-market access to non-EU lenders, investment firms, clearing houses or credit rating agencies in its so-called "equivalence" system, as long as it considers their home rules to be in line with the EU's
The five countries are deemed as no longer regulating credit rating agencies as rigorously as the bloc — thereby removing them from a position which made it possible for European banks to rely on those ratings, reported the Financial Times, citing a document the newspaper had seen.
This will be the first time such rights are withdrawn.
It is a system that the UK will likely have to subscribe to after it leaves the European trading bloc. The EU has stipulated that Britain must rely on the equivalence provisions for access to the single market after Brexit, according to the FT.
The move is seen by some as a warning to Britain that it needs to be aligned with EU rules if it wants its trading platforms and financial firms
(Excerpt) Read more at cnbc.com ...
Does the EU think no one will support the Brits except the USA?
They should call up their reserves and march on Brussels.
Anglosphere vs the world.
Bring it on.
The P.U. will soon be all in with crap cards.
...And I was thinking to myself
“This could be Heaven or this could be Hell”
Then she lit up a candle
And she showed me the way
There were voices down the corridor
I thought I heard them say
Mirrors on the ceiling
The pink champagne on ice
And she said: “We are all just prisoners here
Of our own device”
And in the master’s chambers
They gathered for the feast
They stab it with their steely knives
But they just can’t kill the beast
Last thing I remember, I was
Running for the door
I had to find the passage back
To the place I was before
“Relax,” said the night man
“We are programmed to receive
You can check out any time you like
But you can never leave!”
I see it as you do.
EU is taking their toys and going away.
However, Prosperity ONLY requires liberty to flourish.
While a rigged marketplace, like the fat & lazy EU, only brings debt and misery.
The Corporate economy is vulnerable and will crack and break. Alliances work only until a better product pops up that people want.
If the U.S. does not consider those five countries to be too lax in their home regulations for interoperating with U.S. financial institutions, then the U.S. should retaliate in support of the U.K. and the five other countries, by marking the entire EU as not operating in “equivalence” with the U.S.
Trump should then travel to Argentina, Australia, Brazil, Canada and Singapore and sign “financial” interoperability agreements with them; scheduling one with the U.K. as soon as Brexit is done. I would have no problem with either of them also just adopting the U.S. dollar as their currency. The treasury and the Fed can handle it, easily.
The EU can join the Sears demise.
The Belgians sure are a bunch of pricks.
A threat to the UK over Brexit? I find it hard to believe that Canada, Australia and Singapore are among the worst.
It seems that this would open the doors for Britain to respond in kind and bar the EU.
Turn-about’s fair play.
We, the UK and all these listed nations can do the same thing to the EU.
I’d believe anything about Argentina and Brazil, but Canada, Australia and Singapore? Sounds like more of the EU’s notorious hidden cheating.
What UK has to sell in EU? UK is only viable as a parking spot for corrupt finances now.
Trump should then travel to Argentina, Australia, Brazil, Canada and Singapore and sign “financial” interoperability agreements with them; scheduling one with the U.K. as soon as Brexit is done. I would have no problem with either of them also just adopting the U.S. dollar as their currency. The treasury and the Fed can handle it, easily.
There's a lot here. Let me think about this. Interesting to consider if nothing else.
The UK could offer to kick out Islami terrorists and the inbred monarchy to make petition to join the US. They could bring along some of their English colonies. We’d have to agree to kick out the 30-60 million illegals, but fair deal to set up a greater United States. Just musing...
soon all the partners outside the EU can work together... hehehe... and i am sure that the US will have a deal for them as well.
no, it’s not entirely the EU. the EU’s moves are bIended with UN core values and philosophies.
That is why it is anti anglosphere.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.