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Komfie Manalo, Opalesque Asia: At the recent Opalesque 2017 Ireland Roundtable, Roundtable participants agree that it is going to be a hard Brexit. At the same time, Philip Dempsey, a branch manager at LIS Ireland pointed to a mood change in the UK. Dempsey explained that the initial Brexit vote was intended to take back control and protect the borders, and not being subject to the European Union directives and regulations, the realization that leaving the EU has wider and deeper consequences is now starting to sink in.
He said, "I heard a comment from Tory grandee Lord Heseltine who believes that by 2019, public opinion could shift and parliament 'may not have the stomach' to vote in favour of withdrawal from the EU. The key factor in this will be the possible change in public sentiment, and the timing of the next general election in the UK. So, there are so many unknown factors including, if and when, and how, Brexit is going to happen. I don't think anybody fully knows."
"And because the UK is the finance capital of the world and the largest single location to provide financing globally, its sheer size and scale, the financial muscle in London, which is located outside the EU will weaken the European Union post Brexit," Dempsey said.
UK authorities will determine the future of fund distribution in the UK
Kieran F...................... To view our full article Click here
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