Friday, October 28, 2016

Brexit and London's financial world response

Court of first instance in Northern Ireland rejects attempt to overturn Brexit vote. Undoubtedly the case will arrive at the UK Supreme Court. But much more interesting is that The City (UK's financial capital in same way Wall St is in US) reports many financial corporations are exploring a move to mainland Europe. This makes sense as the large trading blocs are not interested in individual treaties with standalone countries in todays complex word. Another ominous sign for UK economy is the large uptick in UK corporations approaching the Republic of Ireland governmental authorities inquiring about relocation. The pound is now only worth $1.21. Fascinating times.

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