Ahead of Brexit talks, JP Morgan Chief warns that negotiations will not have peaceful results

Chairman of JPMorgan corporate and investment bank for EMEA Vittorio Grilli has said that it would be really tough for the UK and the EU to balance their conflicting interest in the Brexit negotiations. He said that the issue is a very subtle and sensitive one and peaceful results of the talks are a distant reality. Elaborating further on the tough negotiation scenario for Brexit, the Chief of JP Morgan added that both the sides have vital interests at stake. While for the UK the issue of immigration has emerged as the most publicly debated and sensitive issue and it is very important now for the nation to have control over the borders, the issue of freedom of movement for the EU and UK nationals is no lesser important one. Thus practically it is not possible to have a deal that will prioritize and balance both the conflicting issues, explained Vittorio Grilli. He also cautioned that if the negotiations fail and firms quit the UK, it is not going to yield positive results for its economy. Explaining the disastrous results of London losing its center of gravity in the EU, the Chief of JP Morgan said that the City of London as the hub of the economic activities was not created overnight and it definitely took several decades if not centuries to create the bustling business ambiance for the city. The current financial environment is a very intricate one and imitating the same for a new destination in Europe is not at all going to be an easy one, opined Vittorio Grilli. If you are looking to Study, Work, Visit, Invest or Migrate to the UK, contact Y-Axis, the world’s most trusted Immigration & Visa Consultant.