Nah, Frankfurt is too boring even for “Batemen”. It’s all about Paris, which Macron is blowing open for them; or Berlin for the ones with more art-inclined wives.
But yeah, London is cooked. A Norway-style agreement would suit finance but trigger riots in the streets; the other way around will see a lot of people flee with their money.
That could happen if people could easily access credit for other investments as they do for houses. Until that happens, buying your own house and buy-to-let one or two other houses, are basically the only investments the lower-middle class can make.
This is why I personally don’t have a problem with the explosion of personal credit, and I think we’ve actually not gone far enough. Change the rules for credit at significant level, and you can really change capitalism (and its expression, liberal democracy) forever. Gordon Brown had a fantastic chance to do that when he was forced to temporarily nationalize the banks, and he blew it. Jeremy Corbyn’s and John McDonnell’s proposals for a “people’s bank” go in the right direction, but they have to get in power first - and they will be fought tooth and nail by established interests.
