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Faisal Islam
@faisalislam
, 4 tweets, 2 min read Read on Twitter
To “deal with problems caused by continued risk of No Deal” to Barclays and its clients, British bank giant has won at the High Court (required under FSMA) right to shift €190bn of assets - from UK to Ireland.

Directly cites loss of EEA passport

Extraordinary, HT @TomBoadle
“Due to continuing uncertainty over whether there might be a "no-deal" Brexit, Barclays Group has determined it cannot wait any longer to implement the Scheme”
Quote from High Court docs allowing Barclays to shift “huge” €190bn assets from UK to Ireland on Brexit passport loss:
Full story:
Full High Court documentation too: bailii.org/cgi-bin/format…
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Faisal Islam
@faisalislam
Leaving Brussels - belief on EU side that Corbyn letter to PM is a “game changer” mentioned to PM directly by Tusk and Verhofstadt. Why? Because the people that matter here are unconvinced that the PM can deliver a majority of Commons having been previously promised one.
Eg readout from senior EU official - Tusk raised “promising” Corbyn letter with PM today:
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Barwell secret mission to Brussels Monday involved meetings with senior politicos not just scoping possible concessions, but to convince them PM has capacity to win a majority - none convinced by Brady vote. Burnt by believing claim was one for original deal lost by 230
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Faisal Islam
@faisalislam
Joint Statement Juncker-May
“Juncker expressed his openness to add wording to the Political Declaration agreed by the EU27 and the UK in order to be more ambitious in terms of content and speed when it comes to the future relationship between the European Union and the UK”
“Add wording to political declaration” falls short of legally binding change to Withdrawal Agreement - but still shows some willingness to talk. Barclay and Barnier will meet on Monday...
Though the promise of another meeting by end of Feb - possibly at EU-Arab summit - will surely mean the Government will attempt to delay the real meaningful vote return beyond that, into March...

And then a rather controversial Withdrawal Agreement Bill to pass too before Mar 29
Read 3 tweets
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Faisal Islam
@faisalislam
Pennycook, member of Keir Starmer’s shadow team says PM must accept Labour demands “in full” or we “must move to support a public vote”
“Not party position” I’m told re Pennycook ...
But Labour MPs are now expecting a Corbyn email to members mentioning public vote policy still stands - difference seems to be whether if the PM rejects this, whether Labour immediately move to PV
Read 3 tweets

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