Tranquillus in Exile
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Opponents of Brexit predicted that London’s standing as a major financial hub would be overthrown if Britain voted to leave the EU, because banks and other financial services would be shut out of the European market at a cost of 200,000 jobs. President Macron was salivating at the prospect!
In the event London remains much busier than any other financial center in Europe. Financial service exports to the US outstripped those to the EU for the first time, as the City shifted its focus away from the Continent. Around 34% of exports by banks and finance companies went to America in 2020 compared to 30% to the EU. The overall trade surplus in financial and related services increased by 8.4%.
Britain accounts for 16% of cross-border bank lending - the largest share in the world - and handles 43% of global trade in currencies, while its legal services market is the second largest after the US.
https://www.telegraph.co.uk/busines...ng-destination-uk-financial-services-exports/
Never mind, Remoonie, something may yet turn down!
In the event London remains much busier than any other financial center in Europe. Financial service exports to the US outstripped those to the EU for the first time, as the City shifted its focus away from the Continent. Around 34% of exports by banks and finance companies went to America in 2020 compared to 30% to the EU. The overall trade surplus in financial and related services increased by 8.4%.
Britain accounts for 16% of cross-border bank lending - the largest share in the world - and handles 43% of global trade in currencies, while its legal services market is the second largest after the US.
https://www.telegraph.co.uk/busines...ng-destination-uk-financial-services-exports/
Never mind, Remoonie, something may yet turn down!