Is the European Union really being unreasonable over the City of London?

Or are we seeing an inevitable consequence of a Brexit that prioritised sovereignty over financial services?

A thread…🧵💵🏦🇬🇧🇪🇺

Andrew Bailey’s Mansion House speech this week showed clear signs of frustration about the EU’s foot dragging in granting “equivalence” to UK regulators on financial regulation...2/https://t.co/oSaHiEVwzZ
The view among UK financial lobbyists and regulators is that the EU has various financial equivalence agreements already with a host of other third countries (even the US) so why not the UK, which is currently, of course, totally aligned?...3/ https://t.co/WTYVeLnVVN
But the view in the EU is that the UK is different from those other countries because it’s so dominant in finance - and they fear outsourcing regulation to an authority outside the bloc when that regulated activity could potentially affect EU markets/business so profoundly ...4/
Andrew Bailey thinks the EU is gearing up to demand the UK be a simple “rule taker” in return for equivalence, unable to unilaterally change UK rules, which he says would be "intolerable"....5/
But isn’t the EU just trying to poach business from the City?

To some extent yes – especially true among French.

But don’t discount the financial stability concerns, especially since UK ministers have said they intend to use Brexit to diverge on regulation...6/
In a way the UK and EU views on this are a mirror of each other – both fear the consequences of diluting total regulatory control on finance...7/
In a sense this shows that this IS a natural consequence of Brexit.

When the UK was in the EU both co-operated to determine financial regulation.

Now there’s no institutional mechanism to force co-operation, build trust, ensure enforcement etc...8/
So labelling each other unreasonable arguably misses the point - it's not a question of mental state, but an absence of institutional architecture...9/
An important question is what happens if the EU DOES demand, as Andrew Bailey fears, the UK become an EU rule taker in return for equivalence?...10/
My conversations with the sector suggest that this would NOT be judged a price worth paying and that the City would, with regret, give up on the EU and focus on other overseas markets.

Given the value of UK exports to the EU market that would be painful for both parties...11/
More here for @indypremium 👇

ENDS

https://t.co/12UMPp25Oo

More from Government

1.
Act of 1871
This is VERY Long but it will end with a MEGA BOOM!
Bookmark it and read it in small bits to digest it all.

This info, comes from some reputable anons and my own digging, compiled together as a superthread!
InevitableET, IPOT... to name a few.

2.
https://t.co/udep5WEYUp
https://t.co/bnzeQek6zv


3.
The TL; DR version is they, by military force, and illegitimate legislature, amended the constitution against the will of The People and legally tricked us into becoming unwitting indentured slaves of human capital and resources to THE UNITED STATES OF AMERICA the corporation)

4.
Republic vs Democracy
-They needed to get away from the Republic and create a Democracy in order to drive us towards socialism and inevitably a dictatorship (National Socialist Party aka NAZI)


5.
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First thread of the year because I have time during MCO. As requested, a thread on the gods and spirits of Malay folk religion. Some are indigenous, some are of Indian origin, some have Islamic


Before I begin, it might be worth explaining the Malay conception of the spirit world. At its deepest level, Malay religious belief is animist. All living beings and even certain objects are said to have a soul. Natural phenomena are either controlled by or personified as spirits

Although these beings had to be respected, not all of them were powerful enough to be considered gods. Offerings would be made to the spirits that had greater influence on human life. Spells and incantations would invoke their


Two known examples of such elemental spirits that had god-like status are Raja Angin (king of the wind) and Mambang Tali Arus (spirit of river currents). There were undoubtedly many more which have been lost to time

Contact with ancient India brought the influence of Hinduism and Buddhism to SEA. What we now call Hinduism similarly developed in India out of native animism and the more formal Vedic tradition. This can be seen in the multitude of sacred animals and location-specific Hindu gods
🌺कैसे बने गरुड़ भगवान विष्णु के वाहन और क्यों दो भागों में फटी होती है नागों की जिह्वा🌺

महर्षि कश्यप की तेरह पत्नियां थीं।लेकिन विनता व कद्रु नामक अपनी दो पत्नियों से उन्हे विशेष लगाव था।एक दिन महर्षि आनन्दभाव में बैठे थे कि तभी वे दोनों उनके समीप आकर उनके पैर दबाने लगी।


प्रसन्न होकर महर्षि कश्यप बोले,"मुझे तुम दोनों से विशेष लगाव है, इसलिए यदि तुम्हारी कोई विशेष इच्छा हो तो मुझे बताओ। मैं उसे अवश्य पूरा करूंगा ।"

कद्रू बोली,"स्वामी! मेरी इच्छा है कि मैं हज़ार पुत्रों की मां बनूंगी।"
विनता बोली,"स्वामी! मुझे केवल एक पुत्र की मां बनना है जो इतना बलवान हो की कद्रू के हज़ार पुत्रों पर भारी पड़े।"
महर्षि बोले,"शीघ्र ही मैं यज्ञ करूंगा और यज्ञ के उपरांत तुम दोनो की इच्छाएं अवश्य पूर्ण होंगी"।


महर्षि ने यज्ञ किया,विनता व कद्रू को आशीर्वाद देकर तपस्या करने चले गए। कुछ काल पश्चात कद्रू ने हज़ार अंडों से काले सर्पों को जन्म दिया व विनता ने एक अंडे से तेजस्वी बालक को जन्म दिया जिसका नाम गरूड़ रखा।जैसे जैसे समय बीता गरुड़ बलवान होता गया और कद्रू के पुत्रों पर भारी पड़ने लगा


परिणामस्वरूप दिन प्रतिदिन कद्रू व विनता के सम्बंधों में कटुता बढ़ती गयी।एकदिन जब दोनो भ्रमण कर रहीं थी तब कद्रू ने दूर खड़े सफेद घोड़े को देख कर कहा,"बता सकती हो विनता!दूर खड़ा वो घोड़ा किस रंग का है?"
विनता बोली,"सफेद रंग का"।
तो कद्रू बोली,"शर्त लगाती हो? इसकी पूँछ तो काली है"।