Jamie Dimon Hoping Europe And UK Can Hug It Out

And that maybe they can reverse this whole Brexit thing.
"Christ, Janet!" Photo: Steve Jurvetson, via Wikimedia Commons

Photo: Steve Jurvetson, via Wikimedia Commons

Back when former London Mayor Boris Johnson announced for Brexit, the man who would have been prime minister but actually won’t be more or less came right out and said he didn’t really want to see the U.K. leave the EU. He just wanted a bigger bargaining chip with which to bludgeon all of those federal dreams out of the brains of those frogs and krauts in Brussels. He was roundly criticized for this open bit of reckless brinksmanship, what with the EU saying “no way,” and now it’s all an academic argument anyway as whichever woman takes Boris’ job has committed herself to quitting the bloc. But Jamie Dimon? Call him, like his buddy Tony Blair, an eternal optimist. He thinks there’s still a chance that the people in Berlin and Paris, and the people in Wigan can find a way to hug this out.

Europe should address Britain’s “legitimate complaints” about labor rules, bureaucracy and regulation, Dimon said in an interview with Italian newspaper Il Sole-24 Ore. Policy makers should act swiftly to avoid a more complicated situation in a year or two, in which case the market correction would be worse, he said.

“Maybe you can even reverse Brexit,” Dimon said. “There are always solutions to the problems, as long as you have the right people in the room.”

Of course, Brexit had nothing to do with labor rules, bureaucracy and regulation, and everything to do with the army of Polish plumbers pillaging the shires. But no matter. Maybe the UK won’t leave the EU, maybe it will. Either way, the JPMorgan chief will always have Rome.

Dimon Says Brexit Could Be Reversed as Europe Fixes Region [Bloomberg]