The United Kingdom’s departure from the European Union will leave the remaining 27 member states to reckon with the disruptions certain to roil the region’s financial industry. According to this instructive overview from economists André Sapir, Dirk Schoenmaker and Nicolas Véron, the loss of London as the EU’s financial center could strike a blow to market efficiency, transparency and stability, given the City’s central role in financial markets both within and beyond the EU. getAbstract recommends this big-picture analysis to policy makers and economists for its view of the financial industry issues confronting the EU in a post-Brexit world.
About the Authors
André Sapir, Dirk Schoenmaker and Nicolas Véron are senior fellows at Bruegel.