3 ms·

France has a large percentage of EU bankers already. Hilarious. Did you know that London is the 7th largest French city? Those people are not here for the weat

by gaius 10y ago

France has a large percentage of EU bankers already. Hilarious. Did you know that London is the 7th largest French city? Those people are not here for the weather. And Frexit is not off the cards either.

vidarh 10y ago
Factual. The bank my ex works at has as many traders in Paris as in London, for example, and that's fairly common. I don't doubt there are many French traders in London - these banks shifts staff and roles around as if they're commodities. But that doesn't change the fact that Paris has a large proportion of the EU financial industry. Not as large as London, but substantial enough for Paris to be a major financial centre.
- user5994461 10y ago
  How much is it in percentage? If London finance is 5 times Paris. It's enough to make it a major financial center yet it's laughable at the same time.
  - vidarh 10y ago
    The competition isn't between London and Paris. It is about which EU cities will take the most business from London due to potential limits on market access. It's not a question if banks will move some portion of staff out of London, but how many and where they go. London does have more than Paris, but Paris and Frankfurt are the only two other EU cities that consistently get listed amongst the top global financial centres. What exactly that means in hard cash depends on what you want to count and how, and so the rankings vary greatly depending on who you ask.
    - user5994461 10y ago
      Well, if the "how many" is < 1%, I'd consider that equivalent to not moving. Still no sign of movement.
achamayou 10y ago
This has been debunked before: http://www.bbc.co.uk/news/magazine-26823489 http://www.bbc.co.uk/news/magazine-26823489 The French consulate publishes inflated estimates without evidence for obvious self-serving reasons, but verifiable data from the ONS is singnificantly lower than that.
- user5994461 10y ago
  The article is confirming his point. It's about this order of magnitude.
  - achamayou 10y ago
    It really doesn't at all, please take the time to read it. UK stats (census and ONS numbers) put the number of French nationals between 66000 and 86000, which would make it the 44th biggest French city at best (taking the largest figure). Le Monde's estimate, also given in the article and based on a comparable INSEE data would make it 23rd. Repeating ad nauseam the unsubstantiated claim that it's the 7th largest French city when all evidence suggests it doesn't even make the top 20 is not a worthwhile contribution to this discussion.

by gaius 10y ago

vidarh 10y ago

Factual. The bank my ex works at has as many traders in Paris as in London, for example, and that's fairly common. I don't doubt there are many French traders in London - these banks shifts staff and roles around as if they're commodities. But that doesn't change the fact that Paris has a large proportion of the EU financial industry. Not as large as London, but substantial enough for Paris to be a major financial centre.

user5994461 10y ago
How much is it in percentage? If London finance is 5 times Paris. It's enough to make it a major financial center yet it's laughable at the same time.
- vidarh 10y ago
  The competition isn't between London and Paris. It is about which EU cities will take the most business from London due to potential limits on market access. It's not a question if banks will move some portion of staff out of London, but how many and where they go. London does have more than Paris, but Paris and Frankfurt are the only two other EU cities that consistently get listed amongst the top global financial centres. What exactly that means in hard cash depends on what you want to count and how, and so the rankings vary greatly depending on who you ask.
  - user5994461 10y ago
    Well, if the "how many" is < 1%, I'd consider that equivalent to not moving. Still no sign of movement.

achamayou 10y ago

This has been debunked before: http://www.bbc.co.uk/news/magazine-26823489 http://www.bbc.co.uk/news/magazine-26823489 The French consulate publishes inflated estimates without evidence for obvious self-serving reasons, but verifiable data from the ONS is singnificantly lower than that.

user5994461 10y ago
The article is confirming his point. It's about this order of magnitude.
- achamayou 10y ago
  It really doesn't at all, please take the time to read it. UK stats (census and ONS numbers) put the number of French nationals between 66000 and 86000, which would make it the 44th biggest French city at best (taking the largest figure). Le Monde's estimate, also given in the article and based on a comparable INSEE data would make it 23rd. Repeating ad nauseam the unsubstantiated claim that it's the 7th largest French city when all evidence suggests it doesn't even make the top 20 is not a worthwhile contribution to this discussion.