City of London at twilight

Why London won’t lose its crown as Europe’s financial capital

UK capital will remain Europe’s main financial centre argues the LSE's Simeon Djankov

Following the Brexit vote, the race to succeed London as Europe’s financial capital is on. “We know that groups based in the City are planning to leave for Dublin, Amsterdam, Frankfurt and Paris,” the French prime minister, Manuel Valls, told journalists soon after the UK’s referendum. Other countries in the European Union are also intent on stealing financial services jobs from the UK. Even the economy minister of Bulgaria, the EU’s poorest country, invited City of London escapees. In reality, however, London will remain Europe’s main financial centre argues Simeon Djankov, Executive Director of the Financial Markets Group at the London School of Economics and Political Science.

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