Monday, December 3, 2018

The City of London had the best table in the EU. Post-Brexit it may move to the toilet.

By George ILIEV
Brexit Metaphor No 45

For London's finance industry, EU membership was like arriving at a restaurant and sitting at the nicest table on a terrace overlooking the ocean, reserved especially for you. But then some guy called David Cameron brings you outside to give you the results of a referendum. And when you return to your table, it has been taken by others and the only table available is in a dark corner in front of the toilet.

Paris, Frankfurt, Dublin and Amsterdam are not yet sitting at the City of London's nice table on the terrace of the restaurant but are inching closer. And the City is not yet being pushed out to the toilet table but is feeling the Brexit uncertainty in a range of areas, from derivatives to euro clearing.

The above scenario is not even the worst. If an orderly departure from the EU will probably move the UK to the table in front of the toilet, a disorderly Hard Brexit will take it straight into the toilet. And there isn't much champagne and strawberries served inside a toilet. Not even a single strawberry, bar the odd memento.

A single strawberry on a toilet, 2018
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Notes:
1. Timeline: This article is part of a daily #BrexitMetaphors series, with 116 more Brexit Metaphors to follow until Brexit day, March 29, 2019.
2. Disclosure: The author has a master's degree in European Integration.
3. Invitation: If you'd like to contribute to the debate, you are welcome to leave a comment below.

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