Breaking News         Latest US News              New York News              Fx Tribune

Building the ideal house: the importance of visualization
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

Drive Safe: 5 Road Crash Facts That Will Absolutely Shock You
Drive Safe: 5 Road Crash Facts That Will Absolutely Shock You
Open Championship 2019: What makes Royal Portrush so unique?
Open Championship 2019: What makes Royal Portrush so unique?
Brexit – the beast that ended Theresa May’s reign as prime minister
Brexit – the beast that ended Theresa May’s reign as prime minister
Why do adults take multivitamins?
Why do adults take multivitamins?
Challenges of Studying MBA online and Suggestions to Overcome Them
Challenges of Studying MBA online and Suggestions to Overcome Them
Was Road-Rage To Blame For This New Jersey Semi-Truck Accident?
Was Road-Rage To Blame For This New Jersey Semi-Truck Accident?
Tobacco is the leading cause of cancer – Switch to e-cigs to avoid premature death
Tobacco is the leading cause of cancer – Switch to e-cigs to avoid premature death
Technology Advancements: How will Things Change?
Technology Advancements: How will Things Change?
Bad Science – Ensuring We Keep Things Simple
Bad Science – Ensuring We Keep Things Simple
A Meaningful Life: Just What You Need for Better Health
A Meaningful Life: Just What You Need for Better Health
What to Expect at the Canadian Citizenship Test and Tips to Prepare
What to Expect at the Canadian Citizenship Test and Tips to Prepare
Tipping in America- What Should You Know as a Traveler?
Tipping in America- What Should You Know as a Traveler?
POLLS Results ALL
Who is the most powerful actor in Syria

Front Pages
  • The Sun
NEWS ARCHIVES