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Gradually yes, back office functions will have to move.  But there seems to be a degree of regularity arbitrage going on whereby some regulators are offering "light touch regulation" in return for for initial competitive advantage.

Irish politicians are particularly worried about Luxembourg and Amsterdam in this regard. Call it a loss leader promotion. I have no doubt the EU will ultimately clamp down on all "brass plate" operations.  The key is to get your foot in the door, and then gradually tighten the screw if I might mix all sorts of metaphors.

My point is that any staff migration will be gradual and incremental and won't unduly stress infrastructures which are in the process of being upgraded anyway. The Irish building industry is gradually building up to boom volumes from a low base.

10,000 additional jobs in a city of over a million isn't a drop in the ocean, but it isn't transformative either.

Index of Frank's Diaries

by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Fri Oct 20th, 2017 at 04:25:51 PM EST
[ Parent ]
The German FAZ daily newspaper in August published an article about a study trying to determine the number of new jobs resulting from Brexit in Frankfurt.

The study assumed 10,000 bankers relocating to Frankfurt.
The conservative scenario "guessed" that 11,000 additional jobs would be created in Frankfurt alone and an additional 14,000 in the Rhein-Main region.
The optimistic scenario was 24,000 jobs in Frankfurt and an additional 50,000 in the region.

That of course depends on which jobs are relocated. Do the families move as well? In which time period? And so on...

by Detlef (Detlef1961_at_yahoo_dot_de) on Sat Oct 21st, 2017 at 06:11:54 PM EST
[ Parent ]
Moving the jobs doesn't mean moving the people who hold the jobs.

A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman
by Migeru (migeru at eurotrib dot com) on Wed Nov 8th, 2017 at 11:53:10 AM EST
[ Parent ]


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