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Lots of good reasons not to buy @FT - it's really expensive, the yacht ads make you feel like a loser - but it is a great way to discover what very rich people are thinking. And this weekend's piece on the City of London and Brexit is a classic.
It's easy to assume that the City (& business generally) will be anti-Brexit because the EU is v. business-friendly and London will lose its status as the EU's financial capital when Britain crashes out. But this piece tells us what's really going on in the Square Mile.
1. Financial firms have already made the assumption that the UK is leaving the EU, and have either fired staff or relocated them to Paris or Frankfurt. At this point, the City is primed for chaos and doesn't think EUSupergirl is going to turn things around by singing on YouTube.
2. People who work in the City have decided they really like Boris Johnson because he seems a lot like them: arrogant, reckless, and entirely insulated from the consequences of folly and greed.
3. While ordinary people lose their jobs/scavenge for food, the City is ready to make a ton of money from the chaos; sorry, the City is ready to "act as an intermediary during high levels of volatility."
Another reminder that bickering among opponents of a No Deal Brexit is stupid and destructive: the forces arrayed behind No Deal are powerful & growing, and yet many opposition politicians seem keener on attacking each other than focusing on the crisis that's fast approaching./
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