In reply to BnB:
> You do realise the City of London is the epicentre of the global financial services industry?
> It would be bizarre for there not to be a significant presence on the part of all the international banks. I do agree however that the passporting issue needs to be clarified. But we've covered this already.
It's we'll know that the Swiss banks had to set up in London, in big part because they don't have the passport in Switzerland.
> The pace of the Canada deal is cause for concern. Then again, it might be a blessing in disguise. The crucial difference between the UK and Canada is that Canada is on the outside of the EU and their trade agreement depends on detailed standardisation and negotiations between two non-compliant entities. Europe and the UK however are fully and mutually compliant and compatible with a comprehensive trading and legislative framework. Surely it is in the interests of both parties to continue to trade under the same rules beyond the 2 year limit if no deal can be finalised in that time. Reverting to WTO rules makes no sense to either party if both wish a trade deal to be reached in due course.
I'm not sure you really understood, it's not about what makes economic sense, or what's in the best mutual economic interest.
If it was about that the UK would just stay in the EU or the single market.
It's about myths around sovereignty and immigration, I can't see any deal or any compromise being made, given that virtually any trade deal would involve some sort of free movement and some sort of external court to arbitrate disputes, and that has been very clearly ruled out by the government.
If you look at the Canada deal, it's not being blocked because of differences of standard and regulation - it's blocked purely because of the politics of it.
Reverting to WTO rule wouldn't be a disaster for the EU really, the UK would suffer disproportionately though.
> Better to slowly redefine the marriage than divorce and remarry a couple of years later.
I think we are more looking at 20 years, for the relationship to be rebuilt pretty much as it was, at the condition that there is a will for it. If you look at Switzerland it took them 15 years to get all these bilateral treaties - and arguably they are virtually in the EU and implement most of EU law.
Post edited at 18:33