Cyprus-Forum.com

[kurupetos]

People in the financial sector in Frankfurt speak fluent English, and there is nothing to stop English being made the official working language of a new international market to be set up there - which I think will see the wholesale transfer of most City whizzkids to Frankfurt anyway, if it happens. The Taunus mountain area just north of Frankfurt, where all of the high earners in the financial centre live, is quite pleasant and rivals Surrey or Buckinghamshire.

IMHO, it ain't gonna happen. For reasons I have already outlined but - it does make an interesting note in the continuing and daily ongoing campaign for a Remain vote. One thing I've learned in the past 18 weeks is that scaremongering's more addictive than heroin it seems. Very hard to come off.

Good.

[Tim Drayton]

Well, despite the referendum result, 99.89% of London Stock Exchange shareholder votes have just been cast in favour of the proposed takeover of the company by Deutsche Börse (that's basically Frankfurt).

https://www.theguardian.com/business/20 ... k-exchange

It seems strange to me that people are debating Dublin, Paris (even Nicosia!) etc. taking over London's mantle. I would have thought that Frankfurt was the prime candidate. This move needs to be watched closely if/when the London market loses its right to trade freely over the continent.

DUBLIN speak english and tax is (at this time) 12%

If the following article is right, then you too may be right. It seems that a steady trickle of jobs is already heading that way.

http://www.reuters.com/article/britain- ... ompanyNews

My money is still on Frankfurt, though (maybe just because I once lived there). It is the most sophisticated financial center on the continent.

[Paul ZKTV]

DUBLIN has a lot lower tax rates then germany and its going down again ..... and in this day and age it dont matter where offiice staff go ..
dont even need offices ,just pay for high speed internet and a home office ..

[Robin Hood]

I think that it is Deutsche Bank that needs the life-jacket!

Lets face it the only way for their shares is UP ..... that is why ‘......99.89% of London Stock Exchange shareholders ..’ voted for a takeover. Not because London needs Frankfurt but because Frankfurt NEEDS London. Never listen to a smart mouthed sales-man!

Bloomberg.

“The Frankfurt-based lender’s biggest problem is excessive leverage”, Berenberg’s James Chappell wrote Monday in a note that said the bank faces “insurmountable headwinds.” He cut his rating to sell from hold and reduced his target price for the stock to 9 euros per share, the lowest among more than 30 analysts tracked by Bloomberg and about 40 percent below current levels.

Deutsche Bank earnings have been undermined by 12.6 billion Euros ($14 billion) in costs linked to past misconduct. Efforts to sell assets may be hampered by illiquid credit markets, while Cryan will also struggle to boost capital as the investment-banking industry is in “structural decline,”

http://www.bloomberg.com/news/articles/2016-05-16/deutsche-bank-s-problems-may-be-insurmountable-berenberg-says

The Economist

There is no obvious way out. Deutsche trades at about a quarter of the notional value of its net assets. If it were a non-financial firm it would be broken up. But big banks cannot be dismantled without risking chaos. No regulator wants to see a charge of theirs buy Deutsche. So on it must plod, more zombie than champion, an emblem of an enfeebled industry.

http://www.economist.com/news/leaders/21702195-germanys-banking-champion-has-neither-proper-business-model-nor-mission-floundering-titan?zid=300&ah=e7b9370e170850b88ef129fa625b13c4

Geopolitical Futures

In just the last year, Deutsche Bank has laid off tens of thousands of workers and has seen rating downgrades from both Fitch and Moody’s on its long-term debt and its deposit ratings. Deutsche Bank is also sitting on $41.9 trillion (not a typo) worth of derivatives, an inheritance no doubt from its pre-2008 activities, and perhaps even its post-2008 activities. The crisis is no longer invisible. The IMF, Germany and the markets all see it.

https://geopoliticalfutures.com/signs-of-trouble-for-deutsche-bank/

Deutsche Bank has the largest assets under management of any bank in Europe. (I think around €30bn)

Assets = Debt ! ...... and more and more of these assets are turning into NPL's. What will the Germans do when Deutsche Bank is forced into a bail-in, like happened in Cyprus ?

Zerohedge

Back in April 2013, we showed for the first time something few were aware of, namely that "At $72.8 Trillion, The Bank With The Biggest Derivative Exposure In The World" was not JPMorgan as some had expected, but Germany's banking behemoth, Deutsche bank.

Some brushed it off, saying one should never look at gross derivative exposure but merely net, to which we had one simple response: net immediately becomes gross when just one counterparty in the collateral chains fails - case in point, the Lehman and AIG failures and the resulting scramble to bailout the entire world which cost trillions in taxpayer funds.

http://www.zerohedge.com/news/2016-02-03/it-time-panic-about-deutsche-bank