DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - Is the EU trying to ruin London's role as the No. 2 financial center?

**Stivenslivakovishhhs** · 11-30-2009, 04:37 PM

Firstly Hedge Funds only make up a tiny part of London's Financial Industry employing 10,000 people mainly in London and generating the UK Treasury £3.5 Billion a year. It should also be noted that many hedge funds are based in plush offices in the West End of London rather than London's traditional financial areas. Secondly the same rules will apply throughout the EU, so nobody will gain. Thirdly no legislation has been passed yet and there will have to be a good deal of negotiation by all parties before any concrete legislation can be put in place, and there is little doubt that any future legislation faces being considerable watered down.

11-30-2009, 04:37 PM	#4
Stivenslivakovishhhs Join Date Oct 2005 Posts 400 Senior Member	Firstly Hedge Funds only make up a tiny part of London's Financial Industry employing 10,000 people mainly in London and generating the UK Treasury £3.5 Billion a year. It should also be noted that many hedge funds are based in plush offices in the West End of London rather than London's traditional financial areas. Secondly the same rules will apply throughout the EU, so nobody will gain. Thirdly no legislation has been passed yet and there will have to be a good deal of negotiation by all parties before any concrete legislation can be put in place, and there is little doubt that any future legislation faces being considerable watered down.
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