European companies screwed by Brexit restrictions upon their access to finance

Emmanuel Macron, the French president, has said that if the UK leaves the single market, British firms, including from the City, will get less access to Europe than they have now.

Who benefits most? The customer who gets finance or the provider of the finance?

Answers on a postcard to the Elysee.

11 comments on “European companies screwed by Brexit restrictions upon their access to finance

  1. It’s trade, so they both benefit.

    And in this case the euro-customers will just get finance from euro-finance companies. UK-finance companies won’t benefit from that trade.

    In response to every euro-posture like this, May should lop 5% off corporation tax, as well as talk up how good Korean cars are and how cheap they’ll be without tariffs. But she won’t, because she’s a useless bitch only interested in her own short term political life.

    So we’re going to get an utterly shit Brexit or another referendum where we stay in; either result followed by a hard-left Labour government. The worst of all possible worlds.

    Must be nice in Portugal.

  2. Are there any estimates on how much more expensive finance would get for EU companies if the UK was cut off? I assume the reason it’s all done in London is because it gives the best value for money?

    We keep hearing about how much it would cost London but I haven’t heard any warnings of the costs to Europe.

  3. It’s only a dis-benefit to the customer if there is no one else to provide the finance.
    I think Macron has a fairly obvious aim in view…

  4. I don’t see the French taking over the finance markets. Where will the ‘money’ come from when, at the slightest provocation, they’ll burn it on the roads outside their ports.

  5. Ok so a UK company wanting to offer finance to EU businesses – simply sets up an EU branch in Paris or somewhere and offers the same money it would from London.
    Problem solved all around.

    Oh and UK government loses out on the profit made overseas as its not booked through London any more. Hmmm… where have I heard that before…. google. Apple. Amazon.

  6. “So we’re going to get an utterly shit Brexit or another referendum where we stay in; either result followed by a hard-left Labour government. The worst of all possible worlds.”

    Could well be. But I think that Corbyn has peaked to early…but then “events, dear boy, events”.

  7. The commissioners making such decisions face no democratic comeback if they make life worse for the people they are supposed to represent. So why would they worry about anything apart from ensuring the continuation of their cosy little racket?

  8. But I think that Corbyn has peaked to early

    Tough one to call, because Theresa May continues to be utterly hopeless and would lose a popularity contest to eating washing detergent pods.

    But… I think you’re right. Corbo is like a Poundland Bernie Sanders. Like Sanders, Corbo’s fan base is noisy and enthusiastic but not broad. Most adults aren’t impressed with the peevish geography teacher lookalike or his reheated 1970’s politics. The guy has “failure” written all over him, not “closer”.

    If the Tories can find it within themselves to stop actively repelling their own voters, pretend they don’t hate them for a change, they’ll win the next election.

    Much will depend on what May does during the next Ramadan murderthon. By not even pretending she’d crack down on our uninvited guests, she squandered the chance to win by a landslide in 2017. She didn’t have to go full Vlad Tepes, though that would be nice. All she has to do is intern a bunch of the more excitable beardy nutters the authorities assure us they are tracking.

  9. @SS2

    The current Tory party seems to think its voters are the centralist LibDim types rather than the more right wing type that loved a strong leader like Thatcher. Until that changes, they’re fucked.

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