HSBC to move jobs to Paris if UK leaves single market

[Scarlett.]

http://ichef-1.bbci.co.uk/news/660/cpsprodpb/BA21/production/_90094674_mediaitem90094673.jpg


HSBC would move up to 1,000 staff from London to Paris if the UK left the single market, following Britain's vote to leave the EU, the BBC understands.

The staff who would be relocated would be those who already process payments made in euros for HSBC in Canary Wharf.

Thursday's referendum result means the UK will need to renegotiate its trade relationship with the European Union - including whether it remains part of the single market.

HSBC has declined to comment.

If the UK was not in the single market or the European Economic Area (EEA), it would mean the loss of "passporting", which allows banks to operate without restriction in all EEA countries.

The EEA comprises the 28 members of the EU, plus Iceland, Liechtenstein and Norway. EEA rules allow those non-EU countries to be part of the EU's single market, as long as they allow full freedom of movement of people.
Job cuts

There have been warnings that leaving the EU could prompt banks and some other businesses to move jobs out of the UK and into countries that remained part of the bloc.

Leave campaigners have dismissed the concerns, saying Britain should focus on developing trade relationships with non-EU countries.

HSBC already has more than 10,000 staff working in Paris.

The London-based bank has about 48,000 UK workers across its retail and investment banking operations. A year ago, it said it was planning to cut 8,000 jobs in the UK to reduce costs.

Earlier this year, the bank said it would keep its global headquarters in London, following a review.

Yesterday sources told the BBC that up to 2,000 jobs at the US investment bank Morgan Stanley could be moved from London to Dublin or Frankfurt.

BBC News

[Toy Soldier]

I reckon Dublin's going to do quite well out of all of this. Edinburgh / Glasgow could too if we pull our finger out :flutter:. As unlikely as I think that is...

[Cherie]

Shame it's people who probably voted in are going to have to relocate or lose their jobs

[Kazanne]

I saw on Sky News aswell that the steel industry that was in trouble had a potential buyer,but now we have come out of the EU they don't think they can go through with it,so it looks like that will go too.

[Johnnyuk123]

Yes the UK is doomed. So much for being proud and British eh?

[Amy Jade]

HSBC are awful anyway, their online banking is like solving a rubiks cube

[Johnnyuk123]

65 plus million in the UK and 1000 jobs relocated so they can make more profit and it's the end of the world apparently. :shrug:

[Cherie]

HSBC are awful anyway, their online banking is like solving a rubiks cube

Really I've been with them for years and have no issues with online banking

[Cherie]

65 plus million in the UK and 1000 jobs relocated so they can make more profit and it's the end of the world apparently. :shrug:

Seriously Johnny! Even you can't deny 1000 jobs in one hit is a big loss to the economy

[joeysteele]

Really I've been with them for years and have no issues with online banking

My Bank too Cherie and I personally cannot say I have had any problems whatsoever.

I think any changes to and losses of jobs as to this issue,is very sad indeed.

[Scarlett.]

65 plus million in the UK and 1000 jobs relocated so they can make more profit and it's the end of the world apparently. :shrug:

They're not going to be the last company to relocate though.

[Johnnyuk123]

Seriously Johnny! Even you can't deny 1000 jobs in one hit is a big loss to the economy

No one is posting anger at HSBC. I find that hilarious. No one is losing their job. They have the option of moving.

[Cherie]

It's the knock on effect to the surrounding area as well..sandwich shops..restaurants..bars ..taxis

[Johnnyuk123]

They're not going to be the last company to relocate though.

Let them all go. Who cares. If they don't want to be here they should go. Other companies can then move in.

[Amy Jade]

Really I've been with them for years and have no issues with online banking

I literally can't work their system out at all I just want to send a balance transfer and it's so complicated haha

[Alf]

As one door closes

[Ithinkiloveyoutoo]

...

[Cherie]

[QUOTE=Johnnyuk123;8758586]No one is posting anger at HSBC. I find that hilarious. No one is losing their job. They have the option of moving.[/QUOT

Is that not loss to revenue? What about families?

[Johnnyuk123]

As one door closes

A normal person would say.. another one opens. But not in here apparently.:joker:

[Johnnyuk123]

[QUOTE=Johnnyuk123;8758586]No one is posting anger at HSBC. I find that hilarious. No one is losing their job. They have the option of moving.[/QUOT

Is that not loss to revenue? What about families?

Companies move around all the time and long before the leave vote won. So who do we blame for all those who lost their jobs long before the referendum result came in?

[joeysteele]

The point really is if businesses and Banks like this start moving out of Britain, other investors and companies are more likely to wonder why, and then just for safety's sake go to another EU Nation, in the single market, in mainland Europe.

The leave side likely won't consider that a possibility I doubt however.

[Cherie]

[QUOTE=Cherie;8758601]

Companies move around all the time and long before the leave vote won. So who do we blame for all those who lost their jobs long before the referendum result came in?

This is as a direct result of Brexit though so we know exactly who to blame

[Cherie]

I literally can't work their system out at all I just want to send a balance transfer and it's so complicated haha

There is a menu in the left hand side ...payments and transfers :laugh:

[Johnnyuk123]

The point really is if businesses and Banks like this start moving out of Britain, other investors and companies are more likely to wonder why, and then just for safety's sake go to another EU Nation, in the single market, in mainland Europe.

The leave side likely won't consider that a possibility I doubt however.

You obviously are still bitter about the EU result because the UK voted to leave the EU which clearly went against your own view. I understand that, but You are supposed to be working for the UK people and they made their judgement on the EU in/out issue and now you are supposed to accept what the public want yet you continue to tell the majority that they are wrong? Are you for democracy or not? Because if you are then you should accept the will of the UK people and shut up.

[joeysteele]

You obviously are still bitter about the EU result because the UK voted to leave the EU which clearly went against your own view. I understand that, but You are supposed to be working for the UK people and they made their judgement on the EU in/out issue and now you are supposed to accept what the public want yet you continue to tell the majority that they are wrong? Are you for democracy or not? Because if you are then you should accept the will of the UK people and shut up.

48% of 33,500,000 said the decision was wrong,not just me.
I will also shut up when 'I' want to not when anyone else rudely tells me to.

Anyway go annoy someone else,I have nothing whatsoever at all to say to you.

[Johnnyuk123]

48% said the decision was wrong,not just me.
I will also shut up when 'I' want to not when anyone else rudely tells me to.

Anyway go annoy someone else,I have nothing whatsoever at all to say to you.

You can bang on about stats all night long. The FACT is the UK voted to leave. Why is that so hard for you to accept?

[Toy Soldier]

You obviously are still bitter about the EU result because the UK voted to leave the EU which clearly went against your own view. I understand that, but You are supposed to be working for the UK people and they made their judgement on the EU in/out issue and now you are supposed to accept what the public want yet you continue to tell the majority that they are wrong? Are you for democracy or not? Because if you are then you should accept the will of the UK people and shut up.

You think that democracy works by identifying the will of the majority and then everyone else "shutting up"? Deeerrrrpppppp no it works when people of differing opinions campaign for and try to convince others of their opinion until they do achieve a majority.

What you believe in is useless, stagnant mob rule :shrug:

[Johnnyuk123]

I will tell you what i find rude. People banging on doors offering pensioners a lift to the polling booths on the promise that they will vote remain. That to me is very rude.

[Tom4784]

To be expected, every financial expert worth their salt around the world were united in saying that Brexit was a terrible idea but noooo, they're all Nazis! They're all corrupt and whatever excuses Gove and his group of morons came up with to discredit what was common sense.

We're going to keep losing out like this if we aren't part of the single trade and if we are then immigration remains the same and so does everything else except we won't get a say in the EU any more but hey! We got to stick it to the man, right?

It's rather satisfying to watch the Brexit campaign continue to self destruct so quickly after their victory. Leaving won't help the NHS' funding, it won't change immigration and we're still going to have to dance to the EU's tune. What were meant to be the benefits of leaving again? There doesn't seem to be any.

[joeysteele]

I will tell you what i find rude. People banging on doors offering pensioners a lift to the polling booths on the promise that they will vote remain. That to me is very rude.

How odd, you would rather they walked and possibly tripped or something.

They ask for the lifts most of the time and no one has any real idea of how they will really vote anyway as no one actually sees their ballot paper.

I think you are the one with the odd view of democracy, with respect.
Quite what giving people lifts to polling stations has to do with this thread is beyond me.

[Johnnyuk123]

The result was in days ago. The UK are leaving.

[Toy Soldier]

The result was in days ago. The UK are leaving.

WHAT??!?!?!??? :omgno:

[joeysteele]

To be expected, every financial expert worth their salt around the world were united in saying that Brexit was a terrible idea but noooo, they're all Nazis! They're all corrupt and whatever excuses Gove and his group of morons came up with to discredit what was common sense.

We're going to keep losing out like this if we aren't part of the single trade and if we are then immigration remains the same and so does everything else except we won't get a say in the EU any more but hey! We got to stick it to the man, right?

It's rather satisfying to watch the Brexit campaign continue to self destruct so quickly after their victory. Leaving won't help the NHS' funding, it won't change immigration and we're still going to have to dance to the EU's tune. What were meant to be the benefits of leaving again? There doesn't seem to be any.

Indeed Dezzy, I agree with all that.

[Cherie]

Is it because the 1000 jobs are in London that they are being so easily dismissed? Londoners have to eat..have rent/mortgages and bills the same as people beyond the Watford gap

[Toy Soldier]

To be expected, every financial expert worth their salt around the world were united in saying that Brexit was a terrible idea but noooo, they're all Nazis! They're all corrupt and whatever excuses Gove and his group of morons came up with to discredit what was common sense.

We're going to keep losing out like this if we aren't part of the single trade and if we are then immigration remains the same and so does everything else except we won't get a say in the EU any more but hey! We got to stick it to the man, right?

It's rather satisfying to watch the Brexit campaign continue to self destruct so quickly after their victory. Leaving won't help the NHS' funding, it won't change immigration and we're still going to have to dance to the EU's tune. What were meant to be the benefits of leaving again? There doesn't seem to be any.

As I posted in a thread t'other day (the one where someone thought that "scandinavia" wasn't in the EU :hehe: ) the prime minister of Norway himself stated quite clearly that the reason his country is able to do well out of the EU is because they are told what's going through as EU legislation, and they piggyback it into their own laws so that they still mirror the status quo. He went on the say that "doing that wouldn't work for a country the size of the UK" (Norway has just 5 million).

But no, of course the UK "has da BIG chair now!!" and so we will be able to write our own rule book whilst dictating trading terms to the puny, terrified EU countries.

You couldn't make this stuff up.

[GiRTh]

To be expected, every financial expert worth their salt around the world were united in saying that Brexit was a terrible idea but noooo, they're all Nazis! They're all corrupt and whatever excuses Gove and his group of morons came up with to discredit what was common sense.

We're going to keep losing out like this if we aren't part of the single trade and if we are then immigration remains the same and so does everything else except we won't get a say in the EU any more but hey! We got to stick it to the man, right?

It's rather satisfying to watch the Brexit campaign continue to self destruct so quickly after their victory. Leaving won't help the NHS' funding, it won't change immigration and we're still going to have to dance to the EU's tune. What were meant to be the benefits of leaving again? There doesn't seem to be any.:clap1:

[bots]

No one is posting anger at HSBC. I find that hilarious. No one is losing their job. They have the option of moving.

Its a legal requirement that hsbc can't handle the euro if the uk are not part of an agreement to do so, which they obtained through membership of the EU, so hsbc will be moving that department to a country where they can. The same will apply to all other banks that handle that aspect in the uk.

It seems to me that the brexit voters didn't give a crap about consequences, because they were fed crap like experts don't know anything.

[kirklancaster]

As I posted in a thread t'other day (the one where someone thought that "scandinavia" wasn't in the EU :hehe: ) the prime minister of Norway himself stated quite clearly that the reason his country is able to do well out of the EU is because they are told what's going through as EU legislation, and they piggyback it into their own laws so that they still mirror the status quo. He went on the say that "doing that wouldn't work for a country the size of the UK" (Norway has just 5 million).

But no, of course the UK "has da BIG chair now!!" and so we will be able to write our own rule book whilst dictating trading terms to the puny, terrified EU countries.

You couldn't make this stuff up.

If you were only half as clever as you think you are. You are the biggest troll on this site.

Do not misrepresent what I said.

I will debate any aspect of the EU with you should you choose to refrain from posting meaningless and very infantile, 'clever clogs' psycho-babble and actually debate facts.

You are now becoming very tiresome - Grow up.

[T*]

i am moving in to the empty building and it's all going to be my house okay

[Alf]

i am moving in to the empty building and it's all going to be my house okayLiving with the Pigeons, you'll be like her from Home Alone 2.

[Toy Soldier]

If you were only half as clever as you think you are. You are the biggest troll on this site.

Do not misrepresent what I said.

I will debate any aspect of the EU with you should you choose to refrain from posting meaningless and very infantile, 'clever clogs' psycho-babble and actually debate facts.

You are now becoming very tiresome - Grow up.

You've been nothing but immature and smug since the result kirk, I believe you're reaping what you've sown and becoming frustrated with it from the sounds of things and I also believe you've lost quite a bit of respect from quite a few members... But that would just be my observation. If you didn't want to be "trolled", perhaps you should have chosen to handle your "victory" with more dignity.

None of us can debate the facts on this one, let's face it. We're at this point all blundering around in the dark giving our best guesses. Remain supporters in despair and leave supporters in giddy excitement. That applies across the board, from Tibb members to Westminster. No one has a ****ing clue. "The facts" have taken a holiday.

[kirklancaster]

You've been nothing but immature and smug since the result kirk, I believe you're reaping what you've sown and becoming frustrated with it from the sounds of things and I also believe you've lost quite a bit of respect from quite a few members... But that would just be my observation. If you didn't want to be "trolled", perhaps you should have chosen to handle your "victory" with more dignity.

None of us can debate the facts on this one, let's face it. We're at this point all blundering around in the dark giving our best guesses. Remain supporters in despair and leave supporters in giddy excitement. That applies across the board, from Tibb members to Westminster. No one has a ****ing clue. "The facts" have taken a holiday.

I will leave it here because I do not want banning, but I totally refute that I have been smug or imature, and if I have lost any respect among members then let them tell me so and why, because your allegations are bull.

[Jack_]

To be expected, every financial expert worth their salt around the world were united in saying that Brexit was a terrible idea but noooo, they're all Nazis! They're all corrupt and whatever excuses Gove and his group of morons came up with to discredit what was common sense.

We're going to keep losing out like this if we aren't part of the single trade and if we are then immigration remains the same and so does everything else except we won't get a say in the EU any more but hey! We got to stick it to the man, right?

It's rather satisfying to watch the Brexit campaign continue to self destruct so quickly after their victory. Leaving won't help the NHS' funding, it won't change immigration and we're still going to have to dance to the EU's tune. What were meant to be the benefits of leaving again? There doesn't seem to be any.

Great post.

As I posted in a thread t'other day (the one where someone thought that "scandinavia" wasn't in the EU :hehe: ) the prime minister of Norway himself stated quite clearly that the reason his country is able to do well out of the EU is because they are told what's going through as EU legislation, and they piggyback it into their own laws so that they still mirror the status quo. He went on the say that "doing that wouldn't work for a country the size of the UK" (Norway has just 5 million).

But no, of course the UK "has da BIG chair now!!" and so we will be able to write our own rule book whilst dictating trading terms to the puny, terrified EU countries.

You couldn't make this stuff up.

lol I said a while back that a lot of British people have an inflated sense of our own importance and still think we're this empire that'll do what the **** we want and that everyone will sing from our hymn sheet cause we're Great ****in Britain innit

We're now about to find out the very opposite is true, and I am quite looking forward to it :joker:

(but hey, maybe I'll be wrong - will be happy to be proven so!)

[Toy Soldier]

We're now about to find out the very opposite is true, and I am quite looking forward to it :joker:

(but hey, maybe I'll be wrong - will be happy to be proven so!)

That's the thing isn't it... It feels like there's this idea floating around that there will be some further victory for the leave voters when everything goes amazingly and they get to say "haha told you so!"...

I would be absolutely ****ing ecstatic to be proven wrong on this one. I'd sing it from the rooftops! I just really don't think it's going to go that way... And the pleasure I'll take in my own "told you it was going to fall apart" moment will be very, very limited.

[jaxie]

[QUOTE=Johnnyuk123;8758586]No one is posting anger at HSBC. I find that hilarious. No one is losing their job. They have the option of moving.[/QUOT

Is that not loss to revenue? What about families?

There have also been cases where the EU funded a company's movement out of the UK to another country in the past. Job's were lost there too.

[Ammi]

..it's inevitable as London has been a financial capital of Europe and has now voted out of Europe...it's too early for the domino effect though and sadly, as with all recessions..it will be the very vulnerable and weak that are most effected..:sad:..

[Livia]

Where are HSBC going to crawl off to when France leaves the EU, I wonder...?

[arista]

Single Market
we are staying in
Chewy.

The PM confirmed that

[Livia]

You've been nothing but immature and smug since the result kirk, I believe you're reaping what you've sown and becoming frustrated with it from the sounds of things and I also believe you've lost quite a bit of respect from quite a few members... But that would just be my observation. If you didn't want to be "trolled", perhaps you should have chosen to handle your "victory" with more dignity.

None of us can debate the facts on this one, let's face it. We're at this point all blundering around in the dark giving our best guesses. Remain supporters in despair and leave supporters in giddy excitement. That applies across the board, from Tibb members to Westminster. No one has a ****ing clue. "The facts" have taken a holiday.

Oh come eon TS... you calling someone else smug?

[Toy Soldier]

Oh come eon TS... you calling someone else smug?
I happily owned immaturity and I'll even admit to (over?)confidence and I can be self-important and even mocking.

I am not smug, sneering or snide, tyvm.

[Livia]

I happily owned immaturity and I'll even admit to (over?)confidence and I can be self-important and even mocking.

I am not smug, sneering or snide, tyvm.

Isn't over-confidence, self-importance and mockery the very definition of smug?

It's a wonder why we tolerate you, you miserable git.

[Toy Soldier]

Isn't over-confidence, self-importance and mockery the very definition of smug?

It's a wonder why we tolerate you, you miserable git.
No, or at least that's not what I mean when I say it. I don't mind self-assuredness or even pig-headedness. It's the little metaphorical "self satisfied smile", the jeering, cheering, sneering... That's what pushes it over the edge into smugness.

[Toy Soldier]

:cheer2: :clap1: <-- exhibit one, smug, patronising smilies.

[microscope]

To be expected, every financial expert worth their salt around the world were united in saying that Brexit was a terrible idea but noooo, they're all Nazis! They're all corrupt and whatever excuses Gove and his group of morons came up with to discredit what was common sense.

We're going to keep losing out like this if we aren't part of the single trade and if we are then immigration remains the same and so does everything else except we won't get a say in the EU any more but hey! We got to stick it to the man, right?

It's rather satisfying to watch the Brexit campaign continue to self destruct so quickly after their victory. Leaving won't help the NHS' funding, it won't change immigration and we're still going to have to dance to the EU's tune. What were meant to be the benefits of leaving again? There doesn't seem to be any.

How is it self destructing?

It will change immigration as we can control our borders once we leave. If Europe is in control then it's hard to refuse as we have to do what they say. We don't have to dance to their tune anymore unless the new man or woman at number 10 Downing street let's them.

The benefits are very clear. By having less foreigners live in the UK we instantly save Billions of pounds over time. The cost of staying in the EU per week is £250 Million, so that's a lot less money thrown down the Brussels toilet :tongue: We have our country back again in complete control without having to ask permission on what we can and can't do, which put's the word "Great" back in Great Britain. There is also a lot more positives

[Cherie]

How is it self destructing?

It will change immigration as we can control our borders once we leave. If Europe is in control then it's hard to refuse as we have to do what they say. We don't have to dance to their tune anymore unless the new man or woman at number 10 Downing street let's them.

The benefits are very clear. By having less foreigners live in the UK we instantly save Billions of pounds over time. The cost of staying in the EU per week is £250 Million, so that's a lot less money thrown down the Brussels toilet :tongue: We have our country back again in complete control without having to ask permission on what we can and can't do, which put's the word "Great" back in Great Britain. There is also a lot more positives

250 million, that's a million less than last week :tongue:

[bots]

250 million, that's a million less than last week :tongue:

it reflects the new value of the pound :laugh:

[Cherie]

it reflects the new value of the pound :laugh:

Of course :joker:

[Tom4784]

How is it self destructing?

It will change immigration as we can control our borders once we leave. If Europe is in control then it's hard to refuse as we have to do what they say. We don't have to dance to their tune anymore unless the new man or woman at number 10 Downing street let's them.

The benefits are very clear. By having less foreigners live in the UK we instantly save Billions of pounds over time. The cost of staying in the EU per week is £250 Million, so that's a lot less money thrown down the Brussels toilet :tongue: We have our country back again in complete control without having to ask permission on what we can and can't do, which put's the word "Great" back in Great Britain. There is also a lot more positives

Immigration will not change, it's naive to think it will because we need to get in on the Single Trade and to do that we need to play by EU rules which means free movement. If we're not part of it then plenty more companies will move their operations to EU countries and we'll lose out.

[microscope]

How is it self destructing?

It will change immigration as we can control our borders once we leave. If Europe is in control then it's hard to refuse as we have to do what they say. We don't have to dance to their tune anymore unless the new man or woman at number 10 Downing street let's them.

The benefits are very clear. By having less foreigners live in the UK we instantly save Billions of pounds over time. The cost of staying in the EU per week is £250 Million, so that's a lot less money thrown down the Brussels toilet We have our country back again in complete control without having to ask permission on what we can and can't do, which put's the word "Great" back in Great Britain. There is also a lot more positives


Immigration will not change, it's naive to think it will because we need to get in on the Single Trade and to do that we need to play by EU rules which means free movement. If we're not part of it then plenty more companies will move their operations to EU countries and we'll lose out.

Immigration numbers will change but sadly it is not Nigel Farage who will be calling the shots and I can estimate already that the Conservatives will let a lot more in than he would do, but however many more they bring in than the UKIP's would, it will still be a lot less than it would be if we had stayed in the EU. Also Albania, Macedonia, Montenegro, Serbia and Turkey which the UK government were and are paying over £1.8 Billion just to encourage at least '2' of those countries to join the EU, would eventually find hundreds of thousands, or perhaps more of those people from all those countries coming to live in the UK, but not anymore and that will be the same answer to all the other European countries as long as this government says NO to them.

I know that if companies move away like HSBC are threatening to do then it does affect the economy in the short term, but if they are too weak to stay (or for that fact) ANY other business, then UK citizens can quite easily close their bank accounts at the banks that move elsewhere and simply move their money to banks who choose to stay over here. The same can be said with other businesses. People have to learn how to widen their scope and open their eyes and when one door closes then open another. I would absolutely love it if every single person in the UK closed their HSBC account lol. It's a pity people don't stick together. You can move mountains with enough people power, but their are simply too many sheep out there.

[Suze]

Immigration numbers will change but sadly it is not Nigel Farage who will be calling the shots and I can estimate already that the Conservatives will let a lot more in than he would do, but however many more they bring in than the UKIP's would, it will still be a lot less than it would be if we had stayed in the EU. Also Albania, Macedonia, Montenegro, Serbia and Turkey which the UK government were and are paying over £1.8 Billion just to encourage at least '2' of those countries to join the EU, would eventually find hundreds of thousands, or perhaps more of those people from all those countries coming to live in the UK, but not anymore and that will be the same answer to all the other European countries as long as this government says NO to them.

I know that if companies move away like HSBC are threatening to do then it does affect the economy in the short term, but if they are too weak to stay (or for that fact) ANY other business, then UK citizens can quite easily close their bank accounts at the banks that move elsewhere and simply move their money to banks who choose to stay over here. The same can be said with other businesses. People have to learn how to widen their scope and open their eyes and when one door closes then open another. I would absolutely love it if every single person in the UK closed their HSBC account lol. It's a pity people don't stick together. You can move mountains with enough people power, but their are simply too many sheep out there.

:clap1:

I so wish you posted more often

[Cherie]

Immigration numbers will change but sadly it is not Nigel Farage who will be calling the shots and I can estimate already that the Conservatives will let a lot more in than he would do, but however many more they bring in than the UKIP's would, it will still be a lot less than it would be if we had stayed in the EU. Also Albania, Macedonia, Montenegro, Serbia and Turkey which the UK government were and are paying over £1.8 Billion just to encourage at least '2' of those countries to join the EU, would eventually find hundreds of thousands, or perhaps more of those people from all those countries coming to live in the UK, but not anymore and that will be the same answer to all the other European countries as long as this government says NO to them.

I know that if companies move away like HSBC are threatening to do then it does affect the economy in the short term, but if they are too weak to stay (or for that fact) ANY other business, then UK citizens can quite easily close their bank accounts at the banks that move elsewhere and simply move their money to banks who choose to stay over here. The same can be said with other businesses. People have to learn how to widen their scope and open their eyes and when one door closes then open another. I would absolutely love it if every single person in the UK closed their HSBC account lol. It's a pity people don't stick together. You can move mountains with enough people power, but their are simply too many sheep out there.


Didn't you read the article, it's nothing to do with the banks being weak it's the loss of "passporting"



If the UK was not in the single market or the European Economic Area (EEA), it would mean the loss of "passporting", which allows banks to operate without restriction in all EEA countries.

The EEA comprises the 28 members of the EU, plus Iceland, Liechtenstein and Norway. EEA rules allow those non-EU countries to be part of the EU's single market, as long as they allow full freedom of movement of people.

[microscope]

Immigration numbers will change but sadly it is not Nigel Farage who will be calling the shots and I can estimate already that the Conservatives will let a lot more in than he would do, but however many more they bring in than the UKIP's would, it will still be a lot less than it would be if we had stayed in the EU. Also Albania, Macedonia, Montenegro, Serbia and Turkey which the UK government were and are paying over £1.8 Billion just to encourage at least '2' of those countries to join the EU, would eventually find hundreds of thousands, or perhaps more of those people from all those countries coming to live in the UK, but not anymore and that will be the same answer to all the other European countries as long as this government says NO to them.

I know that if companies move away like HSBC are threatening to do then it does affect the economy in the short term, but if they are too weak to stay (or for that fact) ANY other business, then UK citizens can quite easily close their bank accounts at the banks that move elsewhere and simply move their money to banks who choose to stay over here. The same can be said with other businesses. People have to learn how to widen their scope and open their eyes and when one door closes then open another. I would absolutely love it if every single person in the UK closed their HSBC account lol. It's a pity people don't stick together. You can move mountains with enough people power, but their are simply too many sheep out there.
Didn't you read the article, it's nothing to do with the banks being weak it's the loss of "passporting"



If the UK was not in the single market or the European Economic Area (EEA), it would mean the loss of "passporting", which allows banks to operate without restriction in all EEA countries.

The EEA comprises the 28 members of the EU, plus Iceland, Liechtenstein and Norway. EEA rules allow those non-EU countries to be part of the EU's single market, as long as they allow full freedom of movement of people.

Let me try to understand this. You are saying that unless we do what the EEA/single market demands then there wouldn't be passporting allowed whatsoever.

This underlines exactly why "we the British people" have to completely cut out this infestation that mimics itself to a disease that you must keep away from at all costs. A group of individuals that think they can rule countries, peoples lives and businesses.

The whole idea of Brexit is that we are no longer controlled by these horrible people anymore. We can do what we want, how we want and when we want. We can have a government that we vote in and runs our country without any interference from these people whatsoever. If a man in France wants to come to visit the UK then all he has to do is buy a passport and come for a lovely holiday and we are going to say YES!!, it is that simple. If a man from the UK wants to visit France and those horrible people say that we can't unless we do what those monsters demand of us, then we don't go there at all, not ever. And it is France who are the fools for staying in Europe, if they want to be governed in that way and by those types of people and they will lose out in the long run.

The same applies to banks and whatever restrictions they are placing on them unless we comply to their demands. It is very much like blackmail or even terrorism, as their rules and regulations are their to intimidate. The power that these people have got and the power has indeed gone right to their heads and to a point whereby all the leaders of all these countries just seem to abide by. It is money which is dictating all of this which breeds corruption of course and this whole scheme smells as dirty and disgusting as it can get really. Nigel Farage has studied and researched this to such depth that is of no wonder why he speaks to them and refers to them as the scum that they are.

We need to look at that word, "Great" in "Great Britain" and start standing upto them like never before.

1) We become totally independent from Europe and every country in the world.

2) Any bank or business that wishes to leave the UK, let them go on their way and wish them good luck.

3) Close your bank account in every bank that leaves the UK and place it in a bank that stays in the UK and supports us.

4) Tell those power-hungry people in Brussels that we do what we want and not what they want and if they don't like it then tell them to get stuffed.

5) If those horrible people in Brussels wish to make life difficult for us and those countries that are still in the EU comply to their demands, then do business with another country.

6) Never give in to acts of terrorism or blackmail from them.


I think that about sums it up :thumbs:

[Cherie]

Let me try to understand this. You are saying that unless we do what the EEA/single market demands then there wouldn't be passporting allowed whatsoever.

This underlines exactly why "we the British people" have to completely cut out this infestation that mimics itself to a disease that you must keep away from at all costs. A group of individuals that think they can rule countries, peoples lives and businesses.

The whole idea of Brexit is that we are no longer controlled by these horrible people anymore. We can do what we want, how we want and when we want. We can have a government that we vote in and runs our country without any interference from these people whatsoever. If a man in France wants to come to visit the UK then all he has to do is buy a passport and come for a lovely holiday and we are going to say YES!!, it is that simple. If a man from the UK wants to visit France and those horrible people say that we can't unless we do what those monsters demand of us, then we don't go there at all, not ever. And it is France who are the fools for staying in Europe, if they want to be governed in that way and by those types of people and they will lose out in the long run.

The same applies to banks and whatever restrictions they are placing on them unless we comply to their demands. It is very much like blackmail or even terrorism, as their rules and regulations are their to intimidate. The power that these people have got and the power has indeed gone right to their heads and to a point whereby all the leaders of all these countries just seem to abide by. It is money which is dictating all of this which breeds corruption of course and this whole scheme smells as dirty and disgusting as it can get really. Nigel Farage has studied and researched this to such depth that is of no wonder why he speaks to them and refers to them as the scum that they are.

We need to look at that word, "Great" in "Great Britain" and start standing upto them like never before.

1) We become totally independent from Europe and every country in the world.

2) Any bank or business that wishes to leave the UK, let them go on their way and wish them good luck.

3) Close your bank account in every bank that leaves the UK and place it in a bank that stays in the UK and supports us.

4) Tell those power-hungry people in Brussels that we do what we want and not what they want and if they don't like it then tell them to get stuffed.

5) If those horrible people in Brussels wish to make life difficult for us and those countries that are still in the EU comply to their demands, then do business with another country.

6) Never give in to acts of terrorism or blackmail from them.


I think that about sums it up :thumbs:


I don't think HSBC is going to close down in the UK fully just move some staff to a Eurozone country so it can continue to process euros, I don't know a lot about Finance but there are certain laws that apply to the Eurozone that do not apply to countries outside it, that's why banks from outside the Eurozone set up in a Eurozone country so they can avail of the opportunities. I'd imagine some of the English banks will move some of their offices elsewhere within the Eurozone so they can continue to trade in euros so you might want to put your money under your mattress if you take the approach of closing your bank account for every bank that pops up in the Eurozone :laugh:

[microscope]

Snip/ 2) Any bank or business that wishes to leave the UK, let them go on their way and wish them good luck.

3) Close your bank account in every bank that leaves the UK and place it in a bank that stays in the UK and supports us.

I don't think HSBC is going to close down in the UK fully just move some staff to a Eurozone country so it can continue to process euros, I don't know a lot about Finance but there are certain laws that apply to the Eurozone that do not apply to countries outside it, that's why banks from outside the Eurozone set up in a Eurozone country so they can avail of the opportunities. I'd imagine some of the English banks will move some of their offices elsewhere within the Eurozone so they can continue to trade in euros so you might want to put your money under your mattress if you take the approach of closing your bank account for every bank that pops up in the Eurozone :laugh:

Yes I agree that HSBC is very unlikely to move away from the UK altogether, but if they did then I would urge people to reconsider keeping their money in there as there are plenty of other banks here.

Personally I am not a fan of banks or building societies for quite a few reasons. The government has had to step in and help them on too many occasions when things have gone wrong and the amount spent on doing that is frightening!!!

I would recommend putting money in premium bonds. At least you get the chance of winning cash prizes and your money is safe. Interest rates are so low these days anyway.

I know that with dealing in foreign currencies there are costs involved in exchange rates from one currency to another and all that, but we wasn't using the euro before Brexit and we won't be after brexit, so what's the big difference now? Just because we are choosing to leave the EU altogether, they shouldn't be charging UK banks any more commision than they were before. The only extra expense will be the fall in the pound.

[Crimson Dynamo]

The good old British public putting freedom above money

:clap1:

[Kizzy]

The good old British public putting freedom above money

:clap1:

Didn't many vote based on money though? 'We send £350 million to the EU!'

That's how it went wasn't it?...

[Cherie]

Didn't many vote based on money though? 'We send £350 million to the EU!'

That's how it went wasn't it?...

:hehe:

[Kizzy]

As one door closes

They all close, if HSBC go how is that going to inspire confidence in other companies?... :/

[arista]

They all close, if HSBC go how is that going to inspire confidence in other companies?... :/

Lets see if they do go
so far Nothing official

[Crimson Dynamo]

Didn't many vote based on money though? 'We send £350 million to the EU!'

That's how it went wasn't it?...

well if you have evidence of voters specifically deciding to leave based on a bus advert alone then link to it here

[Crimson Dynamo]

i would imagine the false threat of an emergency budget was more of a swinger, just my opinion...

[Kizzy]

well if you have evidence of voters specifically deciding to leave based on a bus advert alone then link to it here

http://www.independent.co.uk/news/uk/politics/nearly-half-of-britons-believe-vote-leaves-false-350-million-a-week-to-the-eu-claim-a7085016.html

[Crimson Dynamo]

http://www.independent.co.uk/news/uk/politics/nearly-half-of-britons-believe-vote-leaves-false-350-million-a-week-to-the-eu-claim-a7085016.html

That is not evidence i am afraid its a poll to say that some believed it and some did not. It does not say that it caused people to vote either way and indeed after the vote I dont think many people believe in polls anymore

[Toy Soldier]

Someone needs to put LT in touch with the people who are spending millions on political campaigns! He's discovered that advertising doesn't actually work... it has absolutely NO effect on voters or voting percentages either way! Hooraaay a lot of people are going to save a LOT of money LT, you can't just sit on this knowledge.

[Crimson Dynamo]

Someone needs to put LT in touch with the people who are spending millions on political campaigns! He's discovered that advertising doesn't actually work... it has absolutely NO effect on voters or voting percentages either way! Hooraaay a lot of people are going to save a LOT of money LT, you can't just sit on this knowledge.

I just like evidence rather than "I think" or "a lot of people"

[Toy Soldier]

I just like evidence rather than "I think" or "a lot of people"
When it suits.