"Nightjar.me.uk" "cpb"@ insert my surname here wrote in message
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On 12/02/2015 19:54, Bod wrote:
On 12/02/2015 19:50, Adrian wrote:
On Thu, 12 Feb 2015 19:18:51 +0000, Nightjar "cpb"@ wrote:

I have been around since 1950. I have never seen people ion general
more depressed and miserable than the last 5 years.

Blame the banks that invested in toxic debts, not the EU.

A financial sector that a certain ex-commodity trader wants to
deregulate.

A financial sector that is about 10% of the country's GDP.

A financial sector that would almost certainly shift much of their
business to Frankfurt if the UK left the EU.

Why?

Under EU regulatory rules, banks from outside the EU that wish to sell
services to consumers must have a branch within the EU.

That isn't the same thing as shifting much of their business to Frankfurt.

Many of those are currently in London and would have to move.

Nope, just have a branch within the EU.

Almost 30% of UK banking assets are foreign banking assets.

But not necessarily EU assets.

The ECB would also almost certainly force clearing houses that deal in
Euro dominated trades to relocate into the eurozone.

Bull****.