Breaking News         Latest US News              New York News              Fx Tribune

How to Compare Car Insurance Policies?
Imagine. We are in 2023, a Portuguese bank going bankrupt. For several years, the european Union (EU) has developed a specific regime to manage bank failures an

Brexit : - behindère the battle of the City, one of the legal sector

Imagine. We are in 2023, a Portuguese bank going bankrupt. For several years, the european Union (EU) has developed a specific regime to manage bank failures an

Brexit : - behindère the battle of the City, one of the legal sector

Imagine. We are in 2023, a Portuguese bank going bankrupt. For several years, the european Union (EU) has developed a specific regime to manage bank failures and to avoid contagion. And yet, the legal battle for the compensation of accounts payable is happening... in London, before a court of justice, which is not in the EU.

The scenario is far from unimaginable : according to calculations of the japanese bank, Nomura, at least 127 billion euros of bonds by banks in continental Europe are currently governed by English law, one-third of the existing stock. The English justice system has an excellent reputation around the world and a lot of international investors prefer that their financial products are written in the customary law.

To avoid such an event that would be politically embarrassing, instances of european financial looking for the Brexit to redress the balance. "We are seeing a pressure informal regulators to ensure that new obligations of banks are issued in the law of the local country," said Emil Petrov, head of capital markets at Nomura. According to him, the French banks are already fully past in French law, so that they were once part of in English law. "But the question is going to be more complicated for Italian banks, Portuguese and Greek, he says. International investors will be willing to trust the local law of these countries ? Nobody expects to see Italian banks to issue bonds in local law under the current regime... "

A battle is much more wide

This example is the small end of the telescope of a battle much larger, which began with the Brexit. The whole of the legal sector will feel the impact of the exit of the Uk from the european Union. As in finance, London currently dominates very...

Publish Date : 19 Ekim 2018 Cuma 08:35

Breaking News Headlines

Tipping in America- What Should You Know as a Traveler?
Tipping in America- What Should You Know as a Traveler?
Sepi proposes to the ex-minister Miguel Sebastian as a director of Indra
Sepi proposes to the ex-minister Miguel Sebastian as a director of Indra
There are two Spains in the employment
There are two Spains in the employment
Valerio dodge the shock with the CEOE and downgrade to 7% the rise of the bases maximum contribution
Valerio dodge the shock with the CEOE and downgrade to 7% the rise of the bases maximum contribution
Spain puts an end in the EU in four years of cuts in the quota of hake south
Spain puts an end in the EU in four years of cuts in the quota of hake south
The US Federal Reserve raises interest rates to 2.5%, but cooled expectations for 2019
The US Federal Reserve raises interest rates to 2.5%, but cooled expectations for 2019
Carlos Torres throws a 'dance' of managers in BBVA to promote the transformation of the bank
Carlos Torres throws a 'dance' of managers in BBVA to promote the transformation of the bank
One out of every three temporary contracts signed in the Basque country does not last one week
One out of every three temporary contracts signed in the Basque country does not last one week
Balearic islands, get the worst education in Europe
Balearic islands, get the worst education in Europe
The nine highways rescued will be free for the night and will fall by up to 30% during the rest of the day
The nine highways rescued will be free for the night and will fall by up to 30% during the rest of the day
Mango asks for a syndicated loan of 500 million to refinance its debt until 2023
Mango asks for a syndicated loan of 500 million to refinance its debt until 2023
Calviño: "it is Not desirable, from any point of view, the extension of the Budgets"
Calviño:
POLLS Results ALL
Who is the most powerful actor in Syria

Front Pages
  • The Sun
NEWS ARCHIVES