The movement of Brexit is well on its way as the UK prepares to leave the European Union. The EU has recently made news through its decision to take full regulation of a business worth billions of pounds for London’s financial district. This is under review, and many forms of euro clearing have appeared across the economy.
The cutting out of the middle company strategy puts business owners at risk if one side doesn’t live up to their end of the agreement. Although, it may take some of the cost away from each party, there are reasons that a third party is in place for these types of business dealings. Clearing the house rather than the other party helps make things move quicker, but people have reacted to this clearing in a negative way. People in business have started outside accounts to keep their own profits separate from the financial business relationships because they cannot assert this financial officiating on their own.
The third party is a player that has been necessary in the financial sector as it plays to accountability. With less people overseeing the business dealings, and flushing out the middleman in these transactions, there are fewer eyes on the particulars. The business dealings could become more controversial, ensuring that dealings play to personal profits as opposed to running with policies.
Even countries that do not use the euro are being flushed out and pushed on by the European Union for a piece of their financial gains. The European Union is moving into different areas insisting that trades be done on their own soil, threby limiting the options of many business owners. The economy will surely suffer from these controvertial policies in regards to financial businesses, and many people working for these institutions is the UK are likely to lose their jobs.