retrorobot
ivykaty44: International banks are in London because:
- Under EU financial services rules a bank in London can lend to a business borrower anywhere in the EU or an investment manager in London can have as clients companies anywhere in the EU. This is under EU rules on freedom to provide services. If the U.K. leaves the EU then those rules will no longer apply. International banks are going to establish their European HQs in the EU instead - I expect some will go to Paris, some to Dublin, some maybe somewhere else.
The banks were in London before the EU decided to meddle in the financial services sector. They won't budge. There's a cachet about London which - despite its best efforts - Paris simply doesn't have.
- The EU rules on free movement of workers mean that they can easily employ in London people from any EU country. Most non-admin staff in international banks in London are not from the U.K. Unfortunately, because of the poor education system / general laziness, non enough British people can speak French/German/Italian etc. with sufficient fluency and not enough of them have the educational standards to do the complex work, never mind work the long hours involved.
Of course, what's often ignored by the pro-EU lot is that if the UK left the EU, people wouldn't suddenly stop being allowed to work here. So even if we pretend (in an imaginary world) that the standard of graduates is so poor in the UK that banks can't find the skilled, multi-language-speaking graduates they need, EU workers could still come here.
It's just that we could pick and choose who came, instead of (as of next year) receiving a million unskilled Romanians and Bulgarians.
ivykaty44: 90% of the U.K.'s trade is not outside the EU. That figure is generated by the anti-EU bunch saying 80% of U.K. trade is internal, e.g. you buy a piece of beef that is the product of a bullock raised and butchered in the U.K. But foreign trade is vital.
Yes, and the world is rather bigger than the provincials in Brussels would have you believe.
Roughly half of the U.K.'s exports go to other EU countries. A bit more of the U.K.'s imports come from other EU countries. China and India are much less important - in 2011 the U.K. exported more to Belgium alone than it did to China and India put together.
And in 30 years time, the EU will comprise 10% of the global economy rather than 20%. It's a backwater, and we shouldn't be shackling ourselves to this crippled, cumbersome superstate.
The anti-EU bunch will say the U.K. imports more from the rest of the EU than it exports, so it is better off without that trade.
That isn't what they say at all. Excellent strawman, though.