Financial Services « Dr Alf's Blog

Financial market center (Photo credit: Wikipedia)

This is an important article from leading European think-tank Bruegel. It suggests that the EU27 needs to upgrade its financial surveillance architecture to minimise the financial market fragmentation resulting from Brexit.

Source: Making the best of Brexit for the EU27 financial system | Bruegel

If I worked in the UK financial services industry I would be worried and focused on improving my language skills and looking for an opportunity to get an EU passport.

Whilst Theresa May is peddling military equipment to the Middle East, one of the UK’s most important industries is facing uncharted risks. Surely, there’s an urgent need for some serious strategic analysis?

Thoughts?

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

The WSJ reports that Bank of England Gov. Mark Carney is under fire from those who championed Britain’s exit from the European Union as he decides how long to stay on the job at a critical juncture for the country.

Source: Bank of England’s Mark Carney Faces Backlash From Brexit Backers – WSJ

Mark Carney is without doubt one of the world’s top central bankers and George Osborne did well to attract him to the UK. Carney’s expert leadership at the BoE has done much to steer the UK away from the damage of financial speculators. Yes Carney is outspoken but his views have been based on evidence rather than the dogma of Brexit leaders.

The UK needs to keep Carney in place through Brexit to minimize downside risk and economic damage during Brexit.

Thoughts?