Westministenders: No Australia Don't Have A Deal

[RedToothBrush]

Since Friday, far from letting things calm down, Johnson has doubled down stating that if we can't have a Canada Deal (which the EU says wouldn't be equal because we are much closer than Canada geographically) we will go for an Australia Deal.

This is the latest rehash of a managed no deal package up as something else which the EU have already repeatedly said no to.

So we are on track for no deal.

At the same time Johnson has got very excited about American food and how its great. Almost as if he wants no deal wit the EU to force a shitty bad deal with the us through.

Johnson and his chronies have also been trying to undermine journalistic transparency by blocking access to the lobby to some media outlets in a move that makes us look like a tinpot dictatorship. Fortunately there was a mass walk out of journalists but it remains to be seen how long that can be maintained.

Far from being a clean slate to move forward from its already proving that nothing has changed and old divisions are as deep as ever, if not worse...

No critical thinking will be applied at all

By all means explain to me why a rival Dutch bank launched in the UK a few months ago...

A good bloke who thinks of his mum - and is also a former Oz trade negotiator

Dmitry Grozoubinskii@DmitryOpines*

A piece on what a UK-EU FTA deal that might get across the line could look like.

It is basically speculative fan-fiction at this point, and only knowing my mother reads these prevented me from including a sexy vampire.
< 😂 >

You can all yell at me now.

https://www.explaintrade.com/articles/2020/2/4/wild-speculation-what-could-a-uk-eu-fta-compromise-look-like

"By all means explain to me why a rival Dutch bank launched in the UK a few months ago..."

Only those whose business model allows for the extra costs & red tape of Brexit will stay
(and of course those who miscalculate and stay will lose a lot of money)

A business who arrives a bit late and has too few UK customers might otherwise have decide to stay and build up their customer base .... if they didn't have to cope with Brexit as well.

" Why a rival dutch bank launched in the UK a couple of months ago".

Hubris? The lack of growth in other markets? Poor management judgement? A very specific niche target market? A whole host of reasons, that don't include Brexit having 0 negative effects.

I'm quite surprised at the brexiter reaction to N26 tbh.

A German company has had its services exports cut by Brexit/ loss of passporting. Except for its 250k customers, the N26 decision has only a very marginal impact on the U.K. market.

So why so defensive?

Bad press probably didn't help either:

"German regulator reportedly probing N26 over complaints about fraud and poor customer communication."

"Users allege that N26 ignored or provided substantially delayed responses to complaints of fraudulent transactions on accounts."

"Issues around staff and poor outsourced task management were also cited as problems the challenger bank will have to address."

"The revelations come weeks after a new UK General Manager was installed to help the bank further expand in the UK."

"Poor customer experiences"

"Of all the potential allegations facing N26, the suggestion that poor reporting processes have led to fraudulent activity being ignored is the most alarming."

"In one instance, a customer complained of a theft of around €80,000 which was not acknowledged or dealt with correctly by the bank."

"The only means of communication with bank staff is via chatbot or email, and this led to poor response times of several weeks."

"Other banks have also apparently criticised N26's ability to be contacted about fraud and other potential criminal activity on a bank to bank basis."

"Their UK current account launched in November 2018, but customers are currently limited in what services they can access."

"For example, overdrafts are still labelled as "coming soon" on their website, although Direct Debit and salary pay in functionality has now been added."

"N26's launch has been slow with functionality gradually added, and this may have deterred customers wanting the full banking experience they're used to."

"In a marketplace inundated with challenger banks" ...

www.choose.co.uk/news/2019/n26-digital-bank-probed-poor-customer-service/

Really, really defensive lol.

It's kinda odd to care SO MUCH that one German company -which is a bit player in this market - has cut its services exports to the U.K. because of Brexit.

Yes, all those reasons - and then Brexit on top of it all

Yes, it is extraordinary
but we've already seen this poster claiming that Musk didn't know his own mind when he said Brexit ruled out the Uk from having the new Tesla site

Once into late 2021 we may get into real Flat Earther territory

(yes, I have been reading the AIBU Flat Earth ffs)

You'd have thought brexiters would have been cheering a German bank giving up U.K. market share and hence export income! Don't these very same people have a problem with Germany running a trade surplus?

Rational it ain't.

I brought up N26
as the outward looking trading nation post Brexit Britain
will still be affected by the business decisions of others
no matter what ministers and cheerleaders say

as the outward looking trading nation post Brexit Britain

This reminds me of May declaring that the country was open for business, but foreign nationals, seeing how they were being ostracised, judged on actions not words, and started voting with their feet.

Some companies will decide that the cost of doing business in a diverging market is just not worth it to them.

It's quite possible that this will be the case for goods as well as financial services - some EU suppliers might decide that the red tape and cost required to access the U.K. market just isn't worth it.

21st January 2020 Banking Tech:

"More than a thousand banks, asset managers, payments companies and insurers in the European Union plan to open offices in post-Brexit Britain so they can continue serving UK clients, according to the regulatory consultancy, Bovill in a statement issued on Monday."

"More than 1,400 EU-based firms have applied for permission to operate in the UK after Brexit, with over 1,000 of these planning to establish their first UK office, according to a Freedom of Information request (FOI) by Bovill. The FOI provides evidence that London and the UK will continue to be a leading player on the global financial stage after Brexit."

"The FOI revealed that by October 2019, the FCA had received a total of 1,441 applications from firms to use the Temporary Permission Regime (TPR).When the current passporting system becomes defunct, the TPR will allow European Economic Area firms and funds to continue to operate in the UK, whilst they seek full authorisation from UK regulators."

"The FOI also found that 83% of passporting firms that applied under the TPR currently operate under a ‘service’ passport, which means they do not currently have an office in the UK.This suggests that over 1,000 firms intend to set up an office in the UK for the first time after Brexit."

"The FOI also shared the breakdown of firm type for those that have applied for the TPR. This includes more than 100 banks, which will either be setting up offices in London for the first time or boosting their current UK presence. Firms planning to move to the UK span all sectors in financial services including asset managers, insurers, exchanges and fintech firms."

“These figures clearly show that many firms see the UK as Europe’s premier financial services hub,” says Michael Johnson, a consultant at Bovill."

www.fintechfutures.com/2020/01/a-thousand-eu-financial-firms-plan-to-open-uk-offices-after-brexit/

Good grief, they are really wetting their knickers over N26

Poor old Clav is having to work overtime on the cutting and pasting.

(And I still genuinely don't understand why it's such a big deal for them).

Yes, Clavinova, most will have an office which puts up a brass plate and has a half dozen employees. Don't kid yourself that there is going to be a flood of new business.

but we've already seen this poster claiming that Musk didn't know his own mind when he said Brexit ruled out the UK from having the new Tesla site

I provided plenty of evidence to show that he no intention of setting up his first European factory in the UK - Brexit or no Brexit.

I still genuinely don't understand why it's such a big deal for them

Forgotten about N26 already - more interested in the "100 banks, which will either be setting up offices in London for the first time or boosting their current UK presence."

You provided no such thing.

Your "evidence" is almost always poor and clutching at straws.

Clavinova is determined that she knows better than business people why they don't invest in the UK, or why they pull out

re the brass plate businesses coming in:

Can we be bothered to dig out the reports on all the billions moved out of the UK by big banks and insurers since 2017 ?
We've posted as it happened, but I don't have it stored

By last March, at least £900 billion in assets had been moved out of the UK by financial firms ahead of Brexit
(refs, e.g. https://www.independent.co.uk/news/business/news/banks-brexit-moves-assets-billions-uk-to-eu-a8818116.html )

but I don't have up to date figures

Not many job losses associated with that so far; it is literally moving money out of the UK but only a few thousand people

But no thar won't be to do with brexit, there will be an article somewhere that she can c and p, despite the obvious bias of the author/site and it will be all good again.

A good news story from NI
and congratulations to the happy couple 💐

Darren McCaffreyy@DarrenEuronews*

Robyn Peoples, 26, and Sharni Edwards, 27, made history this afternoon becoming the first same sex couple to legally marry in Northern Ireland

re the govt announcing checks on imports from the EU ....

iirc, the new IT system capable of handling this type & number of customs declarations is scheduled for completion in 2025 - if it it rolls in working properly and on time
(DG: over budget doesn't matter in this emergency)

So customs staff, exporters and shippers will have a merry old time 2021-2025
However, BJ may have U-turned by then, or returned to his real job at the Telegraph