Britain warned Ireland against ‘opportunistic’ Brexit attack on City – the Telegraph

The Bank of England in Threadneedle Street, Lo...

The Bank of England in Threadneedle Street, London. Deutsch: Sitz der Bank von England in der Londoner Threadneedle Street. (Photo credit: Wikipedia)

English: Town hall of Alpirsbach, Black Forest...

English: Town hall of Alpirsbach, Black Forest, Baden-Württemberg. Deutsch: Rathaus von Alpirsbach, Schwarzwald. (Photo credit: Wikipedia)

 

This is an important read from the Telegraph. The article reports that Britain warned Ireland not to launch an “aggressive and opportunistic” campaign to steal business from the City of London in the wake of Brexit vote, citing a senior figure in Ireland’s Investment and Development Agency (IDA).

Source: Britain warned Ireland against ‘opportunistic’ Brexit attack on City

For me, the second part of the article was perhaps more newsworthy. Financial institutions have to submit to the Bank of England by July 14 their worst-case scenarios in the event of a Hard Brexit with no transition. It’s expected that details will be published shortly afterwards. It will be hard to bury news of many thousands of jobs going offshore to Frankfurt and Dublin. If I worked in financial services, I’d be taking intensive German lessons in my lunch hours. Perhaps bankers will be introducing their families to

Deutsch: Eine Bratwurst in der Pfanne.

Deutsch: Eine Bratwurst in der Pfanne. (Photo credit: Wikipedia)

bratwurst in the Black Forest, Baden-Württemberg, this summer to prepare them for the worst? Surely, the bottom line is a downside social risk of increased family breakups and divorces, as bread-winners follow the money to Frankfurt?

Thoughts?

Brexit Britain turns against globalisation, blaming it for low UK wages and inequality poll reveals | The Independent

Userbox globalisation

Userbox globalisation (Photo credit: Wikipedia)

Citing evidence from a new survey the Independent reports that post-Brexit Britain is in the throes of a major backlash against globalisation, blaming dwindling wages and rife inequality on the opening of the world’s economy. The survey by ComRes even exposes a new backward-looking dislike of modern technology in the UK, with the public blaming advances for a widening gap between the rich and poor.

Source: Brexit Britain turns against globalisation, blaming it for low UK wages and inequality poll reveals | The Independent

The results are not really surprising given the ‘little England’ position of many Brexiteers.

Unfortunately, the survey did address sensitivity to higher prices and lower quality that would result from reversing globalization.

Thoughts?