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Brexit discussion thread XIII (Please read OP before posting)
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Unfortunately both links are paywalled.
The Washington City one isn't paywalled for me ...
Here's the meat of it:London’s financial sector began to feel the full effects of Brexit on the first trading day of 2021, when nearly € 6 billion in EU equity trading shifted from the city to facilities in European capitals.
Trading stocks such as Santander, Deutsche Bank and Total moved to EU markets or back to primary exchanges such as the Madrid, Frankfurt and Paris stock exchanges, according to Refinitiv data – an abrupt change for London investors who have become accustomed to trading shares in Europe across borders without restrictions.
Business at London Euro equity trading hubs, including Cboe Europe, Turquoise and Aquis Exchange, shifted to their new EU locations set up late last year to accommodate the end of the Brexit transition. The volume on Monday amounted to one sixth of all turnover on stock exchanges in Europe.
While not the city’s most lucrative business, the departure of stock trading means less tax revenue for the UK government. Mr Haynes also noted that it could encourage companies to list in the EU to take advantage of smoother, more active trading conditions.
Cboe Europe said 90 percent of its EU flows, more than € 3.3 billion in deals, now took place in Amsterdam, compared to very few last year. Aquis said that “virtually all” euro-denominated stock trading had shifted overnight to Paris. Turquoise, controlled by London Stock Exchange Group, also saw most of its EU operations move to Amsterdam. Before the transition period ended, very little business had been traded at the sites.
For decades, London-based trading systems and major investment banks have been at the heart of cross-border equity trading, with up to 30 percent of all EU equities traded on the continent going through the city.0 -
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What about Blue Passports?
D'you mean the Made-in-France ones, or the Croatian Blue?
Or are you referring to the Designed-and-Built-in-Britain Blue EU Pet Passport, that's no longer valid for travel if issued in the UK? :pac:
FWIW (going off on a bit of a tangent) I think that plant and pet passports will be amongst the first sovereign competencies to be sacrificed before the gods of Common Sense. The ERG-types will be boxed in on all sides by agriculture (preferring higher EU protectionist standards to US dumping), the ecological movement (has always been very strong in the UK), the fruit & flower industry (once the births, deaths and marriages business wakes up from Covid), horticultural suppliers and consumers (again, always been a big thing in England, and those Scottish seed potato providers are not happy at all, at all) and the travelling-with-animal voters (a sufficiently strong lobby to get quarantine replaced by the Pet Passport scheme twenty years ago when it was never considered a problem by the majority of the public).
Of course, this capitulation to never-ending alignment with the EU will be spun as the Truly Sovereign Kingdom doing what's best for its people, persuading the Mighty Brussels to bend to Britain's demand to treated as an Equal, and thus be a Great Victory for the plucky island nation.0 -
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Many hauliers have purposefully stayed away expecting problems.
The issues were well highlighted such that most people has chosen to stay well clear. Eventually, stock etc will start to run low and then freight will have to increase.
From the Dover side:
https://www.itv.com/news/meridian/2021-01-04/no-post-brexit-queues-at-dover-but-future-disruption-difficult-to-predictChris Parker, Director of Capacity at DFDS said: “As we expected, the amount of traffic has dropped quite sharply since New Year’s Eve. It always happens in the New Year anyway but with the Brexit stockpiling we saw in December it’s even lower than it would normally be. We’re about 60% below what we’d normally have.”
From the Calais side:
https://www.export.org.uk/news/546069/Traffic-through-Dover-Calais-strait-remains-quiet-but-costs-of-cross-Channel-freight-has-surged.htmPost-transition border controls faced their first test yesterday (4 January) on the first working day of the year, but the flow of freight moving across the Dover-Calais strait remained slower than usual.
France’s new €50m smart border infrastructure was largely unused with traffic flowing at around a fifth of its normal level.
Also, COVID tests are being carried out well away from Kent.
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tubercolossus wrote: »Fisheries leaders write to British government.
https://twitter.com/RJCBennett/status/1346751767715979266
“It could be the final straw for many businesses” - Fishing leaders warn that the bureaucratic requirements the government says are needed to export fish to the EU from 1 January will have a “seriously detrimental effect” on the industry."
Sorry but
I myself have found an Irish manufacturer of my medical supplies . The rep from the Company is calling out to me today so I am thrilled to support Irish products.
Was also looking for fish from Irish fisheries and after some searching found a supplier from Bantry. Most were Scottish produce.0 -
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This discussion has been closed.
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