Tag: Unietd Kingdom

Brexit Affects EU Job Applications

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Graduates and people with technology degrees are choosing to move to Berlin or Paris instead of London due to Brexit vote. This in part, could be due to the UK government still not unveiling its new visa rules for EU migrants after Brexit. This has caused the UK technology industry to experience a sharp drop in job applicants originating from the EU. Including the fact people have been put off by concerns about the economy, venture capital investment and visas, applications from the EU have fallen by 40%.
Despite government initiatives to encourage the study of computer and information technology science subjects at university, the industry relies on EU citizens to fill about 180,000 jobs in the sector. The figure represents a fifth of tech jobs in London.

Potential Issues with Brexit

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With the European Unions greatest financial point set to leave the Union, how can the EU ensure the stability of the Euro?

Even without using the Euro, The United Kingdom has been the primary go “middle man” for purchasing and selling financial products priced in Euros. They handle transactions that could reach 1.5 trillion Euro a day. From the Start the European Central Bank urged this market to be distributed among it members but was never had any authority to force London, a member of the EU, to stop the business. But with Brexit assured, thing could now change.

“Euro Clearing” in London employees about 83,000 jobs directly or by its support network. This would greatly impact the UK if they are to lose their request to maintain the market. At the same time moving these businesses could unnecessarily damage the EU by pushing up costs for companies who use the financial products.