Investors may leave England

17.08.2016
UK

It is reported that some of the big banks are going to cease operations in London because of Brexit.

Lending institutions leave

Representatives of JP Morgan Chase, Morgan Stanley and Goldman Sachs have already announced that they intend to move their capitals into continental Europe, although the process itself will not be easy and will take some time. Banks will have to find a legal justification for such an action and enter into the existing structure of the EU in an adequate way, including having appropriate infrastructure.

Obviously, this will cause resistance from European banks, especially in Germany, which is suspected to be treated such competition.

Possible bluff

This information appeared for the first time in the edition of Bloomberg, which is known to work in the interests of big neoliberal capitals. The publication wrote that the heads of major investment companies are frustrated by the fact that the UK does not have a clear policy for the protection of London's status as the global financial hub.

These statements cause a dual reaction. It is not clear what is meant from the global banks - are they wanting to maintain their positions and continue  speculative manipulation, or to protect the interests of customers? Most likely, the first.

The coming financial turbulence

If the banks do in fact leave, it will represent another financial instability generated by the vulnerability of the neoliberal capitalist system.

Other symptoms are felt in other parts of the world. Nevertheless, the reorganization of the world financial system is necessary. Creating a full-fledged multipolar world is not possible without the restructuring of capital flows.

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