Brexit relocation of London banks and finance to Europe - statistics & facts
"Should I stay or should I go?" London-based bankers and insurance companies are weighing their options to relocate some of their operations to Europe. One and a half year after the United Kingdom voted to leave the European Union, nobody knows for certain what the City of London's future links with the European Union will look like or what Brexit's effect on the UK economy will be. Negotiations between the EU and the UK are still ongoing, with one of the most contentious issues being the Irish border. This led outgoing Bundesbank executive board member Andreas Dombret to say in an interview to German newspaper Die Welt on February 19th, 2018, that banks "are welcome to hope for the best, but should prepare for the worst". This article aims to take a look at the following: 1) Brexit consequences for the London financial sector 2) potential locations for London finance to relocate to; 3) the reasons behind relocation;Text continues below.
