In Euronews with Luke Hanrahan
Posted on 8/23/2023 – 3:17 PM
After the UK’s exit from the European Union, European cities are becoming more competitive than London in financial terms
After BrexitJob loss was expected Banking London.
AdvertisingThe most pessimistic pointed to the “expulsion” of more than 250,000 employees. But the number turned out to be very simple: about Seven thousand.
In fields like investment banking, experts believe European cities have become More competition than the British capital.
“London is still seen as a global financier, but it’s not necessarily seen as the only European center for financial services. I think that’s changed post-Brexit,” says David Henig of the European Center for International Economics. principle.
“Now people think: it’s not just London, it’s the European financial center, and it can be. Paris, Amsterdam, Dublin“.
Economist Peter Lawler has no doubt that this realignment of powers was disadvantageous to the English capital. It also considers European centers such as Frankfurt They have gone a step further.
“I don’t think the strategic thinking is done properly in the UK. Of course, Paris is very interested, Frankfurt is interested. We know the different incentives proposed in different European cities”, highlights Lawler.
“But having said all that, where do we go? In the end – whatever it is – that too initial to say”.
The story of Brexit’s impact on Europe’s finances is far from over.
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