Saturday, 28 November 2015

All right then, fuck off.

Continuing our occasional series of flimsy arguments for remaining a Member State of the EU which on closer inspection are arguments for leaving, from the Evening Standard:

A vote to quit the European Union would trigger a flood of up to 100,000 banking jobs out of London, senior City figures have warned.

One board-level banker told the Standard that “Brexit” would force dozens of banks that have their European headquarters in London to relocate highly-paid professionals to rival EU financial centres such as Frankfurt, Luxembourg and Dublin.

He estimated that staffing levels at some investment banks in London could fall by as much as half, with a huge knock-on effect for the broader economy and property prices.

What conclusions can we draw from this?

1. The banks, being the most corporatist of corporatists love the EU. So the EU is guilty by association and we should vote to leave.

2. If you want shot of a few bankers, vote to leave.

3. If you would like London housing to be a bit less unaffordable for ordinary people, vote to leave.

While I'm on the topic, other world financial centres like New York, Switzerland, Hong Kong, Singapore and Tokyo - remind me, are they in the EU or not?