Big banks threatened to leave London en masse if Brexit happened. Now that Brexit is a reality, they don’t really want to go.
The key question for them is Britain’s future in the EU single market. As complicated divorce negotiations get underway, British Prime Minister Theresa May hinted that “freedom of movement could continue beyond the two-year negotiation period.” If it does, London-based firms’ access to the single market probably will, too, since the EU insists the two things must go in tandem.
If it doesn’t, how much staff and operations will big banks have to move across the Channel to ensure that they can continue to operate across the bloc? Read more in an article by Politico.eu.
2nd October 2020
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