Barclays – Whether UK will still be the financial center of Europe

Barclays boss Jes Staley breathes easy saying that London will continue to be the ‘financial lungs’ of Europe

Amidst the confusion whether UK will still be the financial center of Europe,  Barclays boss Jes Staley breathes easy saying that London will continue to be the ‘financial lungs’ of Europe. This comes after several European capitals have been heavily courting banks to move operations to their country, and banks like HSBC said it would move 1,000 jobs to Paris, while UBS said it would shift up to 1,000 jobs to Europe after the government resolved it would be leaving the European single market. Although, everybody is trying to foresee the outcome of the Brexit negotiations but, the absence of facts, makes all statements made by bankers a cocktail of contingency planning and hazy guesswork. Barclays being the world’s biggest investment banker of European government bonds, may find it difficult to continue their activity outside the European single market. Why? Read more…

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