EU’s chief Brexit negotiator wants to bring out a special deal for UK banking

EU’s chief Brexit negotiator wants to bring out a special deal for UK banking. However, reports observe both Britain and Europe failing to do so. Mark Carney spoke about the UK being “the investment banker for Europe”  where wholesale financial market’s trading activity tends to concentrate in keeping costs low. This liquidity effect rewards regional leadership, particularly in age of international trade. As much as £440bn contracts are cleared daily in the UK. If the other EU states, during Brexit, tried to snatch too much of the business dominated by the City, chaos might follow, because the continental European banking system may not be able to deal with a sudden transformation. Read more…

 

Hedge fund boss and philanthropist Sanjay Shah’s views on Brexit was covered by FundsHero previously : Read Here…

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