Summary of Brexit and the European Financial System

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8 Overall

9 Importance

8 Innovation

7 Style


Recommendation

London has long been a preeminent center for global finance, but financial firms based in the United Kingdom will lose their access to the European Union once Brexit is complete. Banks, trading exchanges, clearing houses and the cadre of professional services that support these activities will need to set up operations on the Continent, but where? Researchers Uuriintuya Batsaikhan, Robert Kalcik and Dirk Schoenmaker posit that a better-integrated European Union could accommodate financial hubs in multiple cities. getAbstract recommends their informative succinct analysis to officials and financial executives concerned with planning a smooth transition.

In this summary, you will learn

  • How much financial industry business will need to move from London to the EU27 after Brexit,
  • What European cities are contenders for this relocation and
  • What major issues affect the moves.
 

About the Authors

Uuriintuya Batsaikhan, Robert Kalcik and Dirk Schoenmaker are work at Bruegel, a European think tank.

 

Summary

London eclipses other world-class cities in Europe for its number of foreign-registered financial institutions covering the gamut of industry activities: corporate and commercial banking, securities trading and clearing, and their legal, consulting, audit and technology support services. London-based...

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