| You're correct. Nobody believes them because so many of these so-called drawbacks have turned out to be lies. For instance, Goldman Sachs repeatedly claimed they'd be moving their business to Frankfurt in the case of a Leave vote. They even funded the Remain campaign. Now they leased their HQ in London for 25 years: https://news.sky.com/story/goldman-sachs-commits-to-uk-despi... - apparently not planning to leave the country after all. The EU Commission said it would ban EU companies from trading with British financial in the wake of Brexit. The IMF said it would "cripple" the UK. Brexit supporters said that cutting off the EU from all British financial services would be so self-defeating the Commission wouldn't do it. I was skeptical personally, but so far they were proven right. The Commission keeps extending the so-called "financial passport": https://www.telegraph.co.uk/business/2019/12/02/eu-threats-c... N26 say they're leaving because of Brexit, but chose to enter after they knew Brexit had been voted for and the process was well under way. How likely is it this is true, vs N26 failing in the market but being run by a bunch of Remainers who want to deliver a "fuck you"? If they really only just realised now Brexit was happening then they are a monumentally incapable company. By the way, the EU's unified financial regulation creates problems as well as solutions. For instance it prevented British regulators from stepping in to prevent the foreseen collapse of Icelandic banks. The Icelandic government ended up not having sufficient funds to bail them out. It's discussed here: https://leftfootforward.org/2016/09/brexit-is-the-financial-... The government's recommendations after that incident were basically to introduce caveats and more regional control over financial regulation. |
Your second claim- that the EU commission would 'ban' EU companies from trading with 'British financial' in the wake of Brexit. I'd love to see a source. You know, a source that doesn't caveat things like "if Britain diverged too far". Oh by the way, I work for a finance company that's moved its legal entity to Amsterdam- so those scare stories are literally what has happened.
I'd love to see any reference you have to what you were claiming would happen with Brexit in 2016. Any reference, because I bet you whatever you thought would happen is wrong. But I'm sure you've got good sources for your conspiracy theory that everyone who points out a problem with Brexit is secretly pushing an ulterior motive. Talk about the damage brexit is doing? you must be 'monumentally incapable' - or, you know, actually running a business.