I was reading back, since it's an extension of Rand's newer thread about the Eurozone becoming a single state (after this thread went to hell).
I'm still not quite sure what Hazir and Rand are fighting about, other than nationalism.
But it's worth asking why Cameron thinks London can or will continue to be a global financial center, in a world where technology and HFT can be more important than the
location of consultants or portfolio managers...to the point he'd pull out of a cooperative trading agreement. I can understand the motivation, but only to a certain point...and then I'm perplexed.
It's not like the UK has the same trading power as a united Eurozone that includes manufacturing powerhouses like Germany. It's not as if the UK is an energy or commodity exporter. It's not like the pound sterling is used or valued the same way as the eurodollar. Seems like Cameron has decided that London is the epicenter of the global financial services industry, and nothing will be allowed to change that assumption. Why?
That just doesn't make sense to me, since even Wall Street in NYC is competing with HFT in other US states like NJ or CT, and Chicago mercantile and commodity exchanges are competing with local/regional traders that can bypass them entirely. It's a global world now. Is it just me, or has Cameron and his conservative coalition decided that London should remain important....simply because they've historically been important?