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Bank of England warns no-deal Brexit could trigger economic shock
Governor says EU firms might also face lending crisis by being cut off from banks in London

Banks in the Eurozone might not be so accommodating as the BoE. But why should they be for lending for UK businesses?


"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Fri Jul 12th, 2019 at 03:59:31 AM EST
I think the subtext is: the EU can't manage without access to London's financial sector expertise, because their own banks aren't "up to snuff"...

Index of Frank's Diaries
by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Fri Jul 12th, 2019 at 11:29:14 AM EST
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Diversity is the key to economic and political evolution.
by Cat on Fri Jul 12th, 2019 at 02:07:27 PM EST
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what they mean is that the EU banks, with the exception of Deutche (remember them?), were far less likely to accomodate easy access to Crown dependency tax havens.

without the UK, the average level of honesty in bank trading will increase substantially.

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Fri Jul 12th, 2019 at 07:16:11 PM EST
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< wipes tears >

Diversity is the key to economic and political evolution.
by Cat on Fri Jul 12th, 2019 at 07:59:05 PM EST
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So the disconnect from reality has reached the BoE.

At a rough guess there's a minimum of $40 trillion of cash and cash equivalent floating around the world.  I'm sure some of that can filter it's way into the EU.


She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre

by ATinNM on Fri Jul 12th, 2019 at 05:11:22 PM EST
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Charting the Bank of England's Balance Sheet Since 1844

Diversity is the key to economic and political evolution.
by Cat on Sat Jul 13th, 2019 at 03:38:05 AM EST
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