Almost five years after the Brexit referendum, and five months after Britain's exit from the European Union, the future of London as a global financial center seems secure. But although the City will remain Europe’s largest financial marketplace, its Golden Age as Europe’s financial capital is over.
LONDON – Nearly five years after the Brexit referendum, and in the five months since Brexit itself, the debate about the future of the City, the financial center of London, has remained a dialogue of the deaf. Those who voted in June 2016 to leave the European Union believe, whatever the evidence to the contrary, that the impact will be minimal, and that the warnings of job losses and business relocation are exaggerated. Remain voters are programmed to think the opposite and, whatever the evidence to the contrary, forecast gloom and doom. What can we learn from what has actually happened?
LONDON – Nearly five years after the Brexit referendum, and in the five months since Brexit itself, the debate about the future of the City, the financial center of London, has remained a dialogue of the deaf. Those who voted in June 2016 to leave the European Union believe, whatever the evidence to the contrary, that the impact will be minimal, and that the warnings of job losses and business relocation are exaggerated. Remain voters are programmed to think the opposite and, whatever the evidence to the contrary, forecast gloom and doom. What can we learn from what has actually happened?