4 ms·

> Another is the LSE/Berlin stock exchange merger which was going to see the German exchange hosted and operating from London. That deal will not now happen. D

> Another is the LSE/Berlin stock exchange merger which was going to see the German exchange hosted and operating from London. That deal will not now happen. DAX is in Frankfurt, not Berlin. What will be interesting is if the deal does go on, but happens in reverse. It might provide an easier path for LSE-listed companies with a heavy European interest to move to DAX. > we cannot even start to negotiate any deals with anyone until _after_ we officially exit the EU, which will probably 2 years after invoking Article 50 The two year window post-A50 is specifically for such negotiations. However I'm also pessimistic since I don't think 2 years is enough nor will the EU want to extend it (which would need unanimous support for member states)

sveme 10y ago
> The two year window post-A50 is specifically for such negotiations Actually not, the two years is just for getting the divorce right. Most experts indicate that a new arrangement can only be found after the divorce is complete. Though all that probably depends on what kind of leverage rEU wants to keep in dealing with the UK.
- simonh 10y ago
  I think before the referendum everyone assumed the 2 years was to negotiate a new deal. Certainly all the pro-Leave campaigners seemed to think so. I'm a bit shocked that the remain camp didn't point this out earlier. It seems to me neither side really had any good idea of what exit actually would involve.
  - SyneRyder 10y ago
    The 2 years is also a maximum time period. On that date, the EU treaties no longer apply to the UK, whether negotiations have been concluded or not. The only way to extend that is if the EU unanimously agrees to continue negotiations. http://www.lisbon-treaty.org/wcm/the-lisbon-treaty/treaty-on-European-union-and-comments/title-6-final-provisions/137-article-50.html http://www.lisbon-treaty.org/wcm/the-lisbon-treaty/treaty-on...
  - makomk 10y ago
    I think the reason everyone assumed that was because that was the general consensus. The idea that the EU and UK can't negotiate new trading terms until after the 2 years is up seems to be something the European Commission pulled out their ass in the last day or so.
    - bodyfour 10y ago
      No, I think you're confused. What they've said is that they're not willing to negotiate BEFORE the 2 years is TRIGGERED. i.e. they don't want the UK to foot-drag on triggering A50 and prolonging the process indefinitely. Basically, "shit or get off the pot" The EU position is that if the UK is really going to trigger it, then they should do it as soon as the next PM is installed. Again, the 2 year window is explicitly for these negotiations. It has not started yet, though.
      - makomk 10y ago
        I'm not confused, it's just a mess. No negotiations before the two years is triggered was the original EU position. The EU (or at least their trade comissioner) has come up with a new escalation, claiming that the UK also can't negotiate any post-Brexit trading terms as part of the exit negotiations, that they have to leave the EU first before they can start negotiating on how to trade with the EU: http://www.theguardian.com/politics/2016/jul/01/cecilia-malmstrom-eu-trade-commissioner-brexit-uk-wto http://www.theguardian.com/politics/2016/jul/01/cecilia-malm... This is bad not just for the UK, but also for EU states reliant on trading with the UK.
    - gonvaled 10y ago
      Everybody is pulling things out of assess: Cameron backtracked in his promise to trigger Article 50 immediately after the referendum. And the EU is interpreting fuzzy law however it will please. That's what happens when goodwill gets trashed, and trust thrown out the window.
sasvari 10y ago
just nitpicking: DAX is a stock market index consisting of the 30 major German companies trading on the Frankfurt Stock Exchange [0], so you can't just move to DAX. [0] https://en.wikipedia.org/wiki/DAX https://en.wikipedia.org/wiki/DAX
simonh 10y ago
Thanks you, I was getting confused between Börse Berlin and Börse Frankfurt. Inexcusable, as I used to work for Equiduct which is owned by Börse Berlin.

sveme 10y ago

> The two year window post-A50 is specifically for such negotiations Actually not, the two years is just for getting the divorce right. Most experts indicate that a new arrangement can only be found after the divorce is complete. Though all that probably depends on what kind of leverage rEU wants to keep in dealing with the UK.

simonh 10y ago
I think before the referendum everyone assumed the 2 years was to negotiate a new deal. Certainly all the pro-Leave campaigners seemed to think so. I'm a bit shocked that the remain camp didn't point this out earlier. It seems to me neither side really had any good idea of what exit actually would involve.
- SyneRyder 10y ago
  The 2 years is also a maximum time period. On that date, the EU treaties no longer apply to the UK, whether negotiations have been concluded or not. The only way to extend that is if the EU unanimously agrees to continue negotiations. http://www.lisbon-treaty.org/wcm/the-lisbon-treaty/treaty-on-European-union-and-comments/title-6-final-provisions/137-article-50.html http://www.lisbon-treaty.org/wcm/the-lisbon-treaty/treaty-on...
- makomk 10y ago
  I think the reason everyone assumed that was because that was the general consensus. The idea that the EU and UK can't negotiate new trading terms until after the 2 years is up seems to be something the European Commission pulled out their ass in the last day or so.
  - bodyfour 10y ago
    No, I think you're confused. What they've said is that they're not willing to negotiate BEFORE the 2 years is TRIGGERED. i.e. they don't want the UK to foot-drag on triggering A50 and prolonging the process indefinitely. Basically, "shit or get off the pot" The EU position is that if the UK is really going to trigger it, then they should do it as soon as the next PM is installed. Again, the 2 year window is explicitly for these negotiations. It has not started yet, though.
    - makomk 10y ago
      I'm not confused, it's just a mess. No negotiations before the two years is triggered was the original EU position. The EU (or at least their trade comissioner) has come up with a new escalation, claiming that the UK also can't negotiate any post-Brexit trading terms as part of the exit negotiations, that they have to leave the EU first before they can start negotiating on how to trade with the EU: http://www.theguardian.com/politics/2016/jul/01/cecilia-malmstrom-eu-trade-commissioner-brexit-uk-wto http://www.theguardian.com/politics/2016/jul/01/cecilia-malm... This is bad not just for the UK, but also for EU states reliant on trading with the UK.
  - gonvaled 10y ago
    Everybody is pulling things out of assess: Cameron backtracked in his promise to trigger Article 50 immediately after the referendum. And the EU is interpreting fuzzy law however it will please. That's what happens when goodwill gets trashed, and trust thrown out the window.

sasvari 10y ago

just nitpicking: DAX is a stock market index consisting of the 30 major German companies trading on the Frankfurt Stock Exchange [0], so you can't just move to DAX. [0] https://en.wikipedia.org/wiki/DAX https://en.wikipedia.org/wiki/DAX

simonh 10y ago

Thanks you, I was getting confused between Börse Berlin and Börse Frankfurt. Inexcusable, as I used to work for Equiduct which is owned by Börse Berlin.