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History. And the EU didn't exist then as an alernate location for banks to access a large economy. EU GDP: $19.2T UK GDP: $2.6T
by flavor8 8y ago
History. And the EU didn't exist then as an alernate location for banks to access a large economy.
EU GDP: $19.2T
UK GDP: $2.6T
- cm2187 8y agoYeah but the reasons for being the case haven't really changed. English speaking country, stable and predictable legal framework, cosmopolitan city. Nothing to do with GDP. All the noise I hear (or read in newspapers) tend to go along banks moving as little staff and activity as they can get away with and staff being reluctant to move. And Paris being mentioned as a prefered location because of its proximity to London (eurostar).
- inflagranti 8y ago> English speaking country, stable and predictable legal framework, cosmopolitan city. English speaking being the only real differentiator here and probably the most critical reason. However that only goes so far. And what for sure has changed is that we're down from 20+ currencies before to one huge single market with mostly the same currency. How that all factors in is impossible to say, but to argue that nothing has/will change seems equally unrealistic as the over-the top reporting of the media suggesting the UK banking sector will collapse. Things will go on, but my bet would be there will be a considerable hit.