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> If you look at banking, the EU has failed to make any major dent in London as a financial centre The EU is in no rush, but it's clear that EU banking is goi
by SideburnsOfDoom 5y ago
> If you look at banking, the EU has failed to make any major dent in London as a financial centre
The EU is in no rush, but it's clear that EU banking is going to move to EU centres in the long run of a decade or so. They have said as much (1) This is no act of charity to London bankers, it's in the EU's best interest to move, but move gradually to sites in the EU.
1) https://www.reuters.com/world/uk/global-financial-industry-urges-eu-extend-euro-swaps-clearing-london-2021-09-16/ https://www.reuters.com/world/uk/global-financial-industry-u...
- timellis-smith 5y agoInteresting perspective that it's perhaps British common law that is attractive to businesses https://www.telegraph.co.uk/business/2021/02/25/return-common-law-key-citys-success-not-eu-code/ https://www.telegraph.co.uk/business/2021/02/25/return-commo...
- SideburnsOfDoom 5y agoBritish common law and business friendly environments are utterly irrelevant to Euro clearing, and where the EU lets it happen. London is no longer in the EU and that's all there is to it. Moving this business to EU locations is only a matter of time and orderly transition.
- jacquesm 5y agoThe Amsterdam stock market is now larger than the London one, for the first time in living memory.