London, Montreal, Barcelona. What do they have in common?
London England is in the midst of Brexit. Over 200 financial companies have moved over 900 Billion pounds of investment out of the country. And, deals that can be done through EU subsidiaries will probably go there.
Barcelona. In the middle of a region of some autonomy and trying to separate, the Spanish government made it easier for companies to move their headquarters out of the city. Four did so on the first day, and some 130 in the next month.
Montreal. Was once the banking hub of Canada. Now both Royal Bank and The Bank Of Montreal, have, in effect, their headquarters in Toronto.
Barcelona may not be so obvious, but its region was just significantly richer than Spain in average (GDP per person) before this mess.
What’s my point?
If you are benefiting from a strong financial sector and then threaten political upheaval, you will lose business. Generally that loss is permanent.
Now for the dumb questions.
- Lenin’s Law: who thought they would benefit? Politics in Barcelona, Politics in Quebec, and Politics in Brexit.
- Who cleaned up the mess? Nobody. Elizabeth May is getting no help. A saner politician would resign, but she is resigned to doing her best with a bag of dog doo-doo she was stuck with. The other messes have become the status quo already.
Have a nice day.