This is correct... Apart from the more subtle benefits which Scotland receives (i.e. it provides lots of public services to the rest of the U.K.), it's a net recipient of subsidies and transfers. So is Northern Ireland.
Paris? Come on! Firstly, La Defense is a terrible place. Secondly, do you really think that any "normal" investment bank can run a serious business, with thousands of people, given the Phrench employment laws? Frankfurt, in that regard, is even worse, in some ways.
You could argue that Tom Hayes was quite involved in the submissions process. Hence, he's now enjoying a lengthy spell in Nottingham prison.
Please can you tell this to 50 year gilts? They've rallied nearly 50bps in a straight line and are breaking all records. It's making me very angry.
Ha, so now they are just expendable? Last week that was an impossibility to happen and now it does not matter anymore because they cost the UK? Wow I hope that is not your personal conviction, Martinghoul. I would find it quite disturbing. But then that is what most think about Brits at the moment. Whatever benefits them the most will be done. Completely unwilling to group play or compromise. Just why did the UK ever join any other groups or organizations? It's contradicting because on one hand Brits claimed they were a net payer in the EU (which is correct) and yet they must have perceived benefits that outweighed the costs but that thought must have changed over time. Must be immigration, stupid.
Why would you think so of Frankfurt? It's a small town but so is Zurich or Geneva Well fortunately those banks can choose where they will relocate their staff to and they won't be bound by your opinions.
Tom Hayes never traded anything more involved in regards to derivatives than swaps, certainly not caps, floors, or swaptions or exotics. At least not what I have heard. Please correct me if I am wrong as i would not bet the farm on this one.