EU stays mum on British expat rights
With negotiations stalled yet again, Britons living, working and retiring in EU member states are being left out in the cold as regards any assurances about their futures in their chosen countries of residence. Their situations contrast with those of EU expatriates in the UK, who were recently told by UK Brexit negotiator Domenic Raab they were friends, neighbours and colleagues and were welcome to stay in Britain even should a no-deal Brexit result.
Raab also requested a similar set of reassurances from Brussels for UK expats in Europe, but the EU’s silence on the matter has been deafening. Last week, talks between the two sides ground to a halt due to the continuing confusion over the Irish border ‘backstop’, a situation which is being made worse by the DUP’s leader and its representatives in the British parliament. Prior to Irish intervention, reports had suggested a deal was about to be agreed until Downing Street stepped in and dashed hopes.
Warnings as to the effects of a no-deal exit continue, with the Bank of England predicting a house price crash, business chaos due to delays at the Channel ports and airlines stranded without agreements to overfly Europe. In the meantime, the exodus from the City continues, with major international banks, insurers, financial groups and investment houses moving to either Frankfurt or Paris, with Goldman Sachs and UBS the latest to announce their relocation. Already making the move along with their many thousands of employees are Barclays, Citigroup, Standard Chartered, Bank of America, Morgan Stanley, Nomura Bank and Black Rock.
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