Quote Originally Posted by John2 View Post
No, gm, it doesn't work like that. You put out a barrage of waffle that has no relevance to the point I was making.

I said that if we don't get a deal that includes passporting it will massively impact the ability of many companies to provide financial services that they currently provide without barriers.

Your argument hasn't been to disprove that statement, its been to say you know loads about a bunch of irrelevant acronyms and therefore you know best and win the argument. Except you haven't said a single thing that disproves my statement.


For the record, I have no doubt you know loads about Basel and could go down into the details. The fact you think at your age you spend your life reading tedious 900 page documents for work means you "win" is interesting. You say I know nothing about financial affairs, but I don't need to try and boast about my circumstances to win an argument. I too get asked for advice and I get approached with lots of business opportunities and I am in the position to choose what I want to do with my life. I answer to nobody.

Reading 900 page documents is a depressing vision for my future. If you want that victory you can have it. I'll stick to the skiing and winning the actual argument at hand.

So, I'll lay the gauntlet... how am I wrong in my 'headline' assessment of the impact of losing passporting? I'm not going to read it, so spell it out - what hidden gem is hidden in the 900 pages of Basel that will provide a "gotcha" that disproves my concerns?
Ok John, you have the hook baited again.

Passporting allows financial transactions to proceed on the basis that a company can trade without needing further "authorisation" bearing in mind we have parity in almost all areas why would we need it?

Secondly, your lopsided statement from one the "pedias" was that the UK would / may lose 10,000 you never balanced this with the effect in the EU, how many EU jobs would go if we lost 10,000? my estimate would be more than thrice that. Explain the magic wand theory that the day after Barniers dummy goes out of the pram and he removes passporting that these transactions will migrate 7 Million trades effortlessly somewhere else.

Recently most UK capitals banned shorting and a few other trading exemptions, the UK didnt and over 80 countries prefer London due to the fact that we are largely non-interventionist.

The passporting is only a side show, if Karlsruhe prevails its a dead duck, imagine 3 UK banks borrowing money at different base rates.