Will freeports attract money laundering?

July 13, 2020

peter_IFAMAG reads Twitter so you don’t have to.

Fintech lenders ‘bounced out of crisis loans’ by lenders, the same day as Leo Varadkar says he doesn’t trust banks. Meanwhile, as the UK prepares for Brexit, the proposed freeports get scrutinized.

James Hurley of The Times shares a revealing story. Fintech companies are getting the cold shoulder during pandemic recovery.

Treasury tells fintechs they won't get access to cheap finance from Bank of England to allow them to service demand for emergency bounce back loans https://t.co/xRWPfAPxDE

— James Hurley (@jameshurley) July 13, 2020

APPG share Leo Varadkars comments about loan payment breaks.

Interesting comparison from Ireland re coronavirus loan payment breaks: Varadkar ‘doesn’t fully trust’ banks amid profiteering claims https://t.co/Lx22D1tJH8 via @IrishTimes

— APPG on Fair Business Banking (@APPGbanking) July 12, 2020

The IMF today tweet out up to date data on the EU’s recovery – though 9.3% of GDP wiped out in just one quarter.

Europe’s real GDP is expected to contract by 9.3%— and return to its 2019 level only in 2022. How can economies reposition their policies for a longer crisis? Read our #IMFblog https://t.co/KQSZqqWlSO pic.twitter.com/mFRwfXVebv

— IMF Offices in Europe (@IMFinEurope) July 13, 2020

In Brexit news, many on Twitter upset over the UK government’s ‘get ready for Brexit’ campaign.

More expensive travel insurance, no pet passports, possible roaming charges, red tape for business: the government's website to tell people how to prepare for Brexit sounds like something the Remain campaign wrote in 2016. pic.twitter.com/t57bl0twcg

— Robert Hutton (@RobDotHutton) July 13, 2020

The FT examine freeports, laying bare potential for money laundering and regional investment disparities.

https://twitter.com/PickardJE/status/1282396714218004480

And finally, sign up to APPG Banking’s webinar following their reflective loss intervention.

We have a nail biting few days. On Wednesday at 9.45 am the Supreme Court is handing down its judgement on the intervention we made on reflective loss. Thursday we will join @NedBeale @Trowers @3HareCourt to discuss the implications @kevinhollinrake https://t.co/YcANiXUMAU

— APPG on Fair Business Banking (@APPGbanking) July 11, 2020