Wednesday, 21 March 2007
Shot across the bows of Broon
All over the financial pages the last 2 days has been the proposed merger between Barclay's and ABN Amro.
The latest news suggest that Barclay's is making some serious 'concessions' to get the deal done. However, as usual the Beeb and financial press are missing the obvious. Of course Barclay's may want to move its HQ to Amsterdam to secure the deal. However, you may note that it will also escape the new Broon tax regime and put some distance between itself and the FSA.
Perhaps our often crowed about dominance of the European financial markets is a little weaker than we think. Only recently HSBC threatened to move back to Hong Kong because of high taxes too.
Posted by CityUnslicker