Irreparable Brexit plans await banks as the bank’s chief executive, Lloyd Blankfein, said that some vital steps have already being taken to dispense with Brexit and it is now at the point of no return. Mr. Blankfein said that these steps cannot be retracted. For example some agreements between Goldman Sachs UK and EU clients have been updated to apply to Goldman Sachs Germany.
Mr. Blankfein told that once we commence repapering which is a very tiring activity as there are lawyers involved and it may take months. Once this process is started there is a little chance that we are going to retreat our steps. They have already done some and we have told our clients that more is coming.
When he was asked what precisely will be the final point of no return, he said it is not a binary affair but a gradual procedure. There are some additives have been taken each month, some of which cannot be undone. The company has hired ten floors of the building while there is a new one coming up in London.
Mr. Blankfein has tweeted a message to the UK government that he may not occupy the UK headquarters and secondly, his liking for Frankfurt. He said the second referendum is out of question. He also said that if there was anything at all that might make the people review this stunning and irreparable resolution but he is responded with a negative.