ESMA urges companies to disclose potential Brexit impact Listed companies should disclose the potential impact of Brexit in their financial statements, the European Securities and Markets Authority (ESMA) has said. In its annual statement on European common enforcement priorities, which identifies enforcement priorities for listed companies’ financial statements, ESMA "urges issuers …
Is this just aimed at UK businesses are is this a European wide edict? It would be really useful for the negotiators on both sides to understand the likely impact of the coming changes. Pro-European leaders across the continent have expressed a wish to punish the UK for raining on their parade. A failed trade deal is going to hurt both sides so if those driving the negotiations can see that vengeance based ideology is going to hurt them they might come to the table with cooler heads.
Then again pigs might fly.
That, in itself, is not entirely surprising. The future is difficult to predict.
What they should know, however, is how the change can affect them. Banks should definitely have previsions for that.
Except that, these days, banks are just money-counters. They have lost the ability to forecast anything because they are blinded by the short-term, just like politicians.
If banks made long-term predictions about strategies that could go wrong or worst-case scenarios, they'd be more liable for deliberately running programs into the ground anyway for short-term profits.
Then again when the worst-case scenario is "taxpayer bailout, pay executive bonuses anyway" that tends not to encourage responsible forethought,
i got your risk right here you Yuropeein' sons of bitches:
there is a risk that due to the hojillions of pounds of cash no longer being paid to Crooked EU that the savings will all be plowed into the NHS and blow the UK into Superland!
Helpful illustration of Superland included herewith:
http://www.angryflower.com/buyeve.html
While studying economics I hit well in all the sub-disciplines but was best attuned to econometrics. There is absolutely no effing way I'd even try to create models let alone try to evaluate the resulting forecasts as to what might happen down the road. "Brexit means Brexit" isn't something I crank into the models. I pity my compadres on your side of the Pond!
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