Cameron Saves City of London

[barry44544]

I though we already saved these greedy bragging lowlife sh*tbags
with the money  we have already paid them.
Save the City!!! They're already saved their selves.
Who are we kidding? Cameron was told what to do.
Lapdog.

[Ovacikpeedoff]

Corbindallas, if you actually read what I said you would notice that I was actually referring to foreign companies that are actually based in Britain. Once we leave the EU the advantages of free trade goes with it. Free trade is one of the main reasons why these multinationals are here. Renault, BMW etc will continue to trade with the UK but their goods will also subject to tariffs as will UK goods exported to the EU.

There is this myth that there are emerging markets out there waiting for the Uk to leave the EU and by magic those exports lost will be taken up. It is very easy to say that people should not be afraid of change when you are sitting in Uzumlu. Try telling it to the possible 3 million that could lose their jobs.

All these Eurosceptics say that we can still trade freely with the EU.What they forget to say that for freetrade to work you will also need the other party to agree and there is really no reason why the EU should give the UK any preferential treatment.  

[stoop]

Im no expert on this but it would be interesting to see how much our trade deficit/surplus is with Germany and France and who would be the bigger loser should free trade be removed and exports become subject to non free trade tariffs.

[Colwyn]

OPO and I probably come from very different positions on the political spectrum; I learned my economics by reading Marx' Capital and I doubt whether he did. However, we pretty much share our economic analyses of the prospects now facing the UK. Cameron flouncing out of Brussels so that he could arrive back in the UK showing an open palm saying "In my hand I don't have a piece of paper" is only the start of a political unravelling. Where it will lead us is very murky.

Today the EU stands at 26 versus 1. It seems very likely that the 26 will move towards creating as much policy as possible without reference to the UK. Is it going to be possible to ring-fence all EU institutions so they do not contribute to the implementation of soley "Group of 26" (EU Core) issues? Cameron says "Yes"; he will veto every attempt to do that. I think he is being a trifle optimistic. Sakosy has probably already prepared his plans for hollowing-out EU27 institutions and reforming them as EU26 structures (after all he comprehensively picked Cameron clean this week).

At the same time the Tory Eurosceptics have tasted blood and, backed by some loud voices in the Tory press, will want to push Cameron further into a corner. They will demand various "re-negotiations" of all the agreements we have made. They would like to end the application of the EU Social Chapter to the UK including things like the Working Time Directive. I cannot see what possible incentive the 26 would have to re-negotiate with us. So Cameron will have to go home with nothing, again, and face demands for an "in/out" referendum.

Of course, all this may not happen. I hope it does not. But if it does, OPO's estimate 3m unemployed may be well short.

[FrankStanley]

The meeting on friday was because of the dire state of the Euro currency. At its inception the 17 countries agreed to limit their borrowing to a set percentage of their countries GDP. These countries then went ahead and took no notice of what they had agreed to do. The meeting on Friday will be no different, they will agree one thing and do another. Not of the conservative persuasion, but well done Cameron.

[peter16]

When will the 'Little Englanders'of all ages admit to themselves , we are no longer the rulers of the world , we have no empire , the Raj has gone ,the rest of the world has moved on from world war 2:-\, our decline started in the late forties-early fifties, all political parties are to blame, as are we, the british people.The pursuit of quick/easy money because of greed by the so called ruling stratas of society overrode all notions of what was good for the nation and instead they focused on what was 'good for me'.Cameron has succeeded where all our ancient foes have failed, he has made us 'Little' and in this modern world we will find few if any friends.Better a player within the EU club with a joint loud voice than an eventually unimportant minor offshore (do you remember when we were Great) island.

[maximumtom]

OPO, what would your advice be to a client who was considering getting more involved with a company whose accounts had not been signed off for years ?

[stoop]

Let's face it. The EU is on its knees and in it or out of it everyone will suffer for the cost of this over bloated, over regulated attempt at becoming a united states of Europe.

Greece will probably go under soon and the EU will fold like a pack of very expensive playing cards.

It hasn't worked and it won't work. You cannot have one fiscal policy for all the countries in the Euro (countries not States). How lucky are we to have kept the pound!

[peter16]

For which we have to thank that wise chancellor Mr Gordon Brown:D :D.I hear Stoop agreeing   Yes[?][?]

[nichola]

Totally agree with both Stoop and Peter above