Haven't you already noticed major banks are finding premises on the continent? Do you honestly believe that Britain will be economically stronger with no deal with their neighbours and the biggest trading block in the world? Seriously?
You can buy a stake in a new pointless ship though
National Audit Office:
The scale of the support currently provided to UK banks has fallen from a peak of £955bn to £512bn, but the amount of cash currently borrowed by the government to support banks has risen by £7bn [to a total of £124bn] since December 2009.
According to the NAO report, overall the banks have paid £9.1bn in fees for the government's guarantees and indemnities that have peaked at nearly £1 trillion. The government has so far not had to pay out significantly on any of these liabilities.
RBS and Lloyds, which the government bought controlling stakes in, won't pay back until they are re-privatised. Other banks have paid interest on loans:
• Of the £21.59bn outstanding loan to Northern Rock, the company paid £0.58bn in interest in the last financial year.
• Of the £8.55bn outstanding to Bradford and Bingley,the taxpayer received £0.38bn in interest last year.
• Of the £26.05bn loaned to other non nationalised failing institutions, it received £0.52bn back.
Professor Desmond (Treasury Adviser Rtd):
The costs of the crisis are not simply the costs to the Treasury important those these may be. These are indeed only a pinprick compared to the costs for all of us due to the losses of output caused by the recession and in subsequent years caused by the financial crisis. Output [GDP ] is still some 4% below the previous peak in 2008, and during the years since the crisis [2008-2011] output would have grown by around 2.5% per annum but for the crisis. Output is scarcely growing at all during 2011 and will also grow well below its trend rate in the following years [2012 and 2013].
I have estimated taking into account the losses of output that would have occurred since 2008 without the financial crisis caused by the reckless lending of the banks, and projecting the losses forward until the end of 2012,
that the total cost to the economy - all of us - is around 11 to 13% of GDP."
So a few global banks decide to up sticks? Ho hum, likewise some folks "cheap booze & fags" trips maybe more difficult. Retaining a lot of money within our own governance will more than compensate for the collateral damage.
Trade .... ironic that what the Common Market started as, is held up as the be all & end all. Business will sort that out, there won`t be any tit for tat tariffs or such like.
