Posted on 08/13/2019 1:48:22 AM PDT by Cronos
Before being picked as Commerce secretary, Wilbur Ross, urged other countries to exploit the “God-given opportunity” to steal business from the U.K., according to a report in The Times.
Ross urged Cypriot financiers to strike during this “period of confusion” in Britain to draw businesses away from the City. He made the remarks before the U.S. election and his selection by the Trump.
“I recommend that Cyprus should adopt and immediately announce even more liberal financial service policies than it already has so that it can try to take advantage of the inevitable relocations that will occur during the period of confusion,” Ross said, according to The Times.
He further added that Britain’s departure from the European Union was a “God-given opportunity” for the City’s financial rivals, especially Frankfurt and Dublin in particular.
...“Wilbur Ross’s comments are a stark reminder that the trade deals Britain will agree in future will not depend on goodwill from our partners, but on their own shrewd political and economic calculations,” Barry Gardiner, the shadow International Trade secretary told The Times.
(Excerpt) Read more at cnbc.com ...
Since the referendum, billion$ of investments and thousands of jobs have moved out of the City of London and other parts of the UK - but they haven't gone to any one financial center but to a mix of Dublin, Frankfurt, Amsterdam, Zurich and to Warsaw, Paris, Cork, Budapest, Bucharest etc. for back-office work.
Those jobs and those industries aren't coming back.
Brexit has been and will continue to be a heaven-sent opportunity for various rivals to take over large chunks of business from the UK and more specifically from the City of London
I’m stil for brexit. MAKES good economic sense in the long run. The EU is tyranny. It has less to do with economics than it does to do with forcing LGBQT horse manure on every one — including strong ethnic-traditional Eastern Europe.
Hmmmm. Now where have Americans heard that before? 🤔
The real solution for the Brits is get Brexit done as close to a no deal as possible. The longer it drags on with all the uncertainty, the worse it will be for their economy and the more opportunity for other banking centers to overcome the infrastructure advantage of London.
That’s assuming that the UK leadership is not capable of cutting smarter trade deals than the corrupt, addle-brained Eurocrats in Brussels.
Cyprus? Didn’t Cyprus “Brexit” people’s bank accounts when the government ran out of money?
yup, it had a crash in 2012 but since 2015 it’s been growing at 3% y-o-y
1. Comparing the USA and the UK is non-sensical, like the liberals comparing the USA and Denmark. The USA is a continental-sized economy that dominates the world and is the world’s largest market. The UK isn’t that.
2. The jobs in reference for the City of London are service jobs - primarily financial services that depend on selling services within the common market. That’s worlds apart from manufacturing jobs.
Just curious...were the people repaid?
Did the victims get their money back?
Boris Johnson was the mayor of London who oversaw their rise to global hegemony on a par with NY. He has a fighting chance.
...as opposed to the EU, which was always motivated by the purest of intentions...right?
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