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Bud the Baker

Brexit Negotiations

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53 minutes ago, antrin said:

As a 'linguist' I recognised the sophistry involved in the acceptance of equivalence, as defined by what you want it to mean.

"so-called equivalence decisions involve each side evaluating whether the other’s financial services regulations are as tough as its own. Banks and traders have acknowledged that the proposed system is more piecemeal than existing arrangements, and less stable. "

 

Equivalence means "the same" and not something similar and it's not even guaranteed according to Monsieur Barnier!

Quote

The EU’s chief Brexit negotiator Michel Barnier made it clear on Monday that, when the UK leaves the single market, financial services firms based in Britain will lose their “passporting” rights.

“On financial services, UK voices suggest that Brexit does not mean Brexit. Brexit means Brexit, everywhere,” Mr Barnier told the Centre for European Reform

The reality is that banks gave up on hopes of the UK retaining the passport some time ago.

When it became clear that Theresa May was not going to try to keep the UK as an effective member of the single market after Brexit it was obvious that the passport would ultimately go.

What Mr Barnier’s words do is puncture the belief that something called “equivalence” will come to the rescue.

What is equivalence?

It is short for “regulatory equivalence”.

This is the idea that if the UK financial regulator adopts the same regulatory standards as the pan-European financial regulator the European regulator will continue to allow UK-based financial firms to operate as they do now in Europe.

Mr Barnier’s words suggest this isn’t going to be acceptable to Europe.

 

Edited by Bud the Baker

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2 hours ago, faraway saint said:

It seems some people are quite happy............................

RETAIL: Helen Dickinson, chief executive of the British Retail Consortium, said: "This protects consumers on both sides of the Channel from billions in import tariffs on everyday goods. Given that four-fifths of UK food imports come from the EU, today’s announcement should afford households around the UK a collective sigh of relief.”

FINANCIAL SERVICES: Bob Wigley, executive chair of UK Finance: “Concluding these negotiations with an agreement brings much-needed certainty for businesses and paves the way for the beginning of a new relationship with the European Union. The banking industry remains focused on supporting customers and businesses impacted by the Covid-19 pandemic and the end of the transition period.

"Looking ahead, it will be important to build on the foundations of this trade deal by strengthening arrangements for future trade in financial services.

“This can be achieved by building on the longstanding regulatory dialogue and supervisory cooperation between UK and EU authorities and reaching agreements on all appropriate equivalence determinations as soon as possible.

“Consumers and businesses in both the EU and UK will benefit from maintaining open and integrated capital markets and facilitating the flow of cross-border financial services in the years ahead.”

SMALL BUSINESSES: Federation of Small Businesses (FSB) national chairman Mike Cherry added: “After such a torrid year, and during such a disrupted festive trading season, it’s a huge relief to see negotiators finally strike a deal.

“The work of looking through the detail of the agreement to map out exactly what it means for the small firms that make-up 99% of our business community now begins.”

CAR INDUSTRY: Mike Hawes, CEO of Society of Motor Manufacturers and Traders (SMMT): “We welcome today’s agreement of a new EU-UK trading agreement, which provides a platform for our future relationship.

“We await the details to ensure this deal works for all automotive goods and technologies, including specifics on rules of origin and future regulatory co-operation.

“A phase-in period is critical to help businesses on both sides adapt and efforts should now be sustained to ensure seamless implementation, with tariff-free trade fully accessible and effective for all from day one. We will continue to work closely with government to ensure all companies are as prepared as possible in the limited time left.”

As the saying goes "the devil is in the detail".

Edited by smcc

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9 minutes ago, faraway saint said:

And, I know you'll find this hard, what do you think the chances of that happening are? 

I'll go first, next to feck all.

Your turn. 

Yeah and politicians don't push an extreme idea in order to slip in something softer later on - the state pension is not safe under the current Tory government.

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6 minutes ago, smcc said:

As the saying goes "the devil is in the detail".

I understand that totally, as this was only "agreed" today there will be plenty to pour over in the coming days/weeks/months but it's better than a no deal.

As I've said, I personally didn't want to leave but that's democracy for ya, isn't it. 

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3 hours ago, billyg said:

No access to the EU Court of human rights 

It is a sham anyway , they have already taken away your inalienable human rights right across the planet under the guise that we are facing ' the deadliest disease known to man'. Where was your Court of Human rights when that happened or UNESCO for that matter??

Meanwhile more and more experts prove that masks and locking citizens up in their own homes does nothing but make them more fearful and lonely. .

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25 minutes ago, saintnextlifetime said:

It is a sham anyway , they have already taken away your inalienable human rights right across the planet under the guise that we are facing ' the deadliest disease known to man'. Where was your Court of Human rights when that happened or UNESCO for that matter??

Meanwhile more and more experts prove that masks and locking citizens up in their own homes does nothing but make them more fearful and lonely. .

Yeah , I was wondering if this will affect the "Bosman Ruling" in transfers , as that is only EU wide. 

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1 hour ago, saintnextlifetime said:

It is a sham anyway , they have already taken away your inalienable human rights right across the planet under the guise that we are facing ' the deadliest disease known to man'. Where was your Court of Human rights when that happened or UNESCO for that matter??

Meanwhile more and more experts prove that masks and locking citizens up in their own homes does nothing but make them more fearful and lonely. .

Have you been locked in?

Isn't that called "sectioning" and is for your own good?

You must be running out of tin foil at this time of year? :1eye

 

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Nic Sturge-un is clearly raging that a trade deal has been done

Seeded potatoes 😂

As a remainer, I take offence to the tinpot fascist dictator using my vote to claim that Scotland is being taken out of the EU against my will.

I’d rather stay in the U.K. than stay in the EU

And the reality is, less than 40% of the Scottish electorate voted to remain.

 

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1 hour ago, Bud the Baker said:

Yeah and politicians don't push an extreme idea in order to slip in something softer later on - the state pension is not safe under the current Tory government.

 

1 minute ago, Bud the Baker said:

Ah, the inevitable no argument post! :byebye

After your usual cowardly "no answer" post, which is your trademark

Hiding behind mibbies and could be's. :byebye

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1 hour ago, saintnextlifetime said:

It is a sham anyway , they have already taken away your inalienable human rights right across the planet under the guise that we are facing ' the deadliest disease known to man'. Where was your Court of Human rights when that happened or UNESCO for that matter??

Meanwhile more and more experts prove that masks and locking citizens up in their own homes does nothing but make them more fearful and lonely. .

100% 👍

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1 hour ago, smcc said:

As the saying goes "the devil is in the detail".

And how!  The Chump of the Remove got what he wanted - a last minute deal that will receive little or no democratic scrutiny so he can continue to bluff and bluster about how great a deal it is and how he is going to make the "UK great again".  Ring any bells for anyone.  When the various sectors of the economy realise what is in the fine print and start to ask very awkward questions he might just take the Chiltern Hundreds and bugger off to to a cushy life being protected (morally and financially) by those right wing idealists who funded and championed him for the last ten years, the dodgy Russians included.

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1 hour ago, Bud the Baker said:

Yeah and politicians don't push an extreme idea in order to slip in something softer later on - the state pension is not safe under the current Tory government.

Considering the hundreds of £ billions being wasted in a vain attempt to prolong the lives of terminally ill folk in their 80s for a couple of extra months (killing thousands of younger folk in the process), it’s pretty clear that governments the world over will do anything whatsoever to keep the middle class elderly happy. 
 

At the expense of the working class and the youth.

 

 

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1 minute ago, Sue Denim said:

Considering the hundreds of £ billions being wasted in a vain attempt to prolong the lives of terminally ill folk in their 80s for a couple of extra months (killing thousands of younger folk in the process), it’s pretty clear that governments the world over will do anything whatsoever to keep the middle class elderly happy. 
 

At the expense of the working class and the youth.

 

 

You worked out how to cross a road safely yet, you stupid cunt? :lol:

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3 minutes ago, rabuddies said:

And how!  The Chump of the Remove got what he wanted - a last minute deal that will receive little or no democratic scrutiny so he can continue to bluff and bluster about how great a deal it is and how he is going to make the "UK great again".  Ring any bells for anyone.  When the various sectors of the economy realise what is in the fine print and start to ask very awkward questions he might just take the Chiltern Hundreds and bugger off to to a cushy life being protected (morally and financially) by those right wing idealists who funded and championed him for the last ten years, the dodgy Russians included.

100% agree again.

What I find incredible though is how the middle class left disbelieve anything the idiot tells them. Except when it comes to covid.

Then again, his covid crimes are being carried out against the working class.

The last people the bourgeois middle class left care about are the working class!

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Nic Sturge-un is clearly raging that a trade deal has been done
Seeded potatoes
As a remainer, I take offence to the tinpot fascist dictator using my vote to claim that Scotland is being taken out of the EU against my will.
I’d rather stay in the U.K. than stay in the EU
And the reality is, less than 40% of the Scottish electorate voted to remain.
 


And less than 50% of the Scottish electorate voted to remain in the UK at the indyref - what's your point?

You can only count the votes cast - unless you are Donald Trump, then you count some of them and not others.

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1 hour ago, Slarti said:


 

 


And less than 50% of the Scottish electorate voted to remain in the UK at the indyref - what's your point?

You can only count the votes cast - unless you are Donald Trump, then you count some of them and not others.

 

 

We all know Trump won. 😉

 

Edited by Sue Denim

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12 hours ago, Sue Denim said:

Nic Sturge-un is clearly raging that a trade deal has been done

Seeded potatoes 😂

As a remainer, I take offence to the tinpot fascist dictator using my vote to claim that Scotland is being taken out of the EU against my will.

I’d rather stay in the U.K. than stay in the EU

And the reality is, less than 40% of the Scottish electorate voted to remain.

 

Yes, and less than 39% of the English electorate voted to leave! And it's seed potatoes; you are obviously not a gardened.

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