All The Dangerousness Around Brexit Ambiguity
1/29/2018 10:54 AM UTC
Economists claim that the biggest danger for UK financial center, also known as London, is the ambiguity over the trade situation between the UK and EU after Brexit. Companies are very much concerned about what will happen in terms of trade. The confidence in the financial services sector has been falling for three quarters straight. The EU's Brexit negotiator Michel Barnier said the EU should pass criteria for discussing a transition period, that is supposed to bridge Brexit in March 2019 and begin new trading conditions. Heads of financial services admitted that they would be obliged to shift the operations in Paris, Frankfurt, Dublin or Luxembourg and some are concerned that some of these financial centers will “overthrow” London.