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Banks in London could "lose their privileges" in Europe



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Banks in London could "lose their privileges" in Europe

Post by rocky on Sun 26 Jun 2016, 7:29 am

[size=30]Banks in London could "lose their privileges" in Europe[/size]
26/06/2016 09:26 | Number of Views: 107
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Direction Press / follow-up 
Warned the French Central Bank Governor Francois Filori, that financial institutions in London are at risk of losing their privileges to enter the European Union, if Britain left the single market.
Villeroy said that banks in London will lose the "inadmissibility of the financial pass," which allows it to trade freely in the EU.
Said Jeroen Damleom, Finance Minister of the Netherlands, Prime Minister of a group of financial Europe, earlier, that banks may take their business outside of Britain.
But the British economist Gerard Lyons, felt it would be difficult for banks to drain London.
And offer many of the banks, which is based in the London-based, it serves customers throughout the EU without hindrance, according to the rules of "laissez-passer".
But these rules will be threatened if the choice of the single European market Britain to leave as part of its withdrawal from the European Union.
Activists said at a campaign out that London will remain a financial center in Europe, and will be the base of "laissez-passer" part of the negotiations, the trade relations between Britain and the European Union.
The Villeroy, who is also the governing body of the European Central Bank member to quickly start the talks.
"There is a precedent in the Norwegian model of the European Economic Area, and could allow Britain to retain the right of access to the single market, but with the commitment to implement all the EU rules."
"There would be a contradiction of some thing to leave the Union and the application of all rules at the same time, but the only solution if Britain wanted to maintain access to the single market." Aa


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"HSBC" plans to transfer 1,000 jobs from London to leave Britain if the single market

Post by rocky on Sun 26 Jun 2016, 7:30 am

[size=30]"HSBC" plans to transfer 1,000 jobs from London to leave Britain if the single market[/size]
26/06/2016 09:36 | Number of Views: 92
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Direction Press / Agencies 
Plans to HSBC "HSBC" bank transfer about 1,000 jobs from London to Paris in the case of Britain to leave the European single market in the wake of the British vote for the exit from the European Union.
Media sources said that the employees likely will be transferred from among those who are conducting transactions in euros for the bank in the "Canary Wharf" famous financial district in east London.
The results mean a referendum Thursday that the United Kingdom would have to negotiate its trade relations with the European Union, including whether it will remain a partner in the single market.
He declined HSBC Bank to comment on the news.
In the case of the United Kingdom to leave the single market or the European Economic Area (IEEE-er) would mean the loss of the rights of the work of companies that allow banks to operate without restrictions in all Member States in the region.
The Aruban includes economic zone of the 28 EU countries, plus Iceland, Liechtenstein and Norway. The laws allow the region to non-members of the Union to be part of the single market as long as they give people complete freedom of movement.
Shed jobs
And it went out warnings to leave the European Union will push banks and other companies to move jobs outside the UK to other EU countries.
He refuted defenders Britain out of the Union, those concerns, and said that Britain should focus on developing trade relationship with other countries outside the European Union.
It uses HSBC Bank already has more than ten thousand employees working in Paris.
In London, the Bank uses nearly 48 thousand in various private investment and retail banking operations.
In the past year, HSBC he plans to cancel eight thousand jobs in the United Kingdom in order to cut costs, he said.
However, early this year, said he would keep the international Compare in London after the opening of an investigation in this regard.
Yesterday, aa sources told the BBC said that nearly 2,000 jobs at Morgan Stanley, the US bank could be moved from London to Dublin or Frankfurt.

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