Breaking News         Latest US News              New York News              Fx Tribune

Benefits of Having an Immigration Lawyer Representing You
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

What To Do To Ensure Comprehensive Safety On Your Devices
What To Do To Ensure Comprehensive Safety On Your Devices
Santiago de Chile and New York, two new destinations of Level from Barcelona
Santiago de Chile and New York, two new destinations of Level from Barcelona
The Valencian Community holds the pull of the 'all inclusive' in Turkey
The Valencian Community holds the pull of the 'all inclusive' in Turkey
New round of strikes at Amazon: unions call for eight-day strike at Christmas
New round of strikes at Amazon: unions call for eight-day strike at Christmas
The Bank of Spain to qualify the number of lawsuits as a risk relevant for Spanish entities
The Bank of Spain to qualify the number of lawsuits as a risk relevant for Spanish entities
The Eurogroup, seamless front to Italy
The Eurogroup, seamless front to Italy
The Government proposes that the self-employed raise another "disproportionate" contributions: 260 euros per year
The Government proposes that the self-employed raise another
The employer's charge against the budgets of the Generalitat: income "optimistic" and "unattainable"
The employer's charge against the budgets of the Generalitat: income
The Government communicates the final closure of the oil field most ancient of Spain
The Government communicates the final closure of the oil field most ancient of Spain
Absolute division of the Supreme court by the judgment of the mortgages: nine positions stated, five in favor of the bank and four against
Absolute division of the Supreme court by the judgment of the mortgages: nine positions stated, five in favor of the bank and four against
The Best Ashes-Winning England Performances
The Best Ashes-Winning England Performances
Spain falls to the position 30 in the ranking of 'Doing Business' ease of business
Spain falls to the position 30 in the ranking of 'Doing Business' ease of business
POLLS Results ALL
Who is the most powerful actor in Syria

Front Pages
  • The Sun
NEWS ARCHIVES