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Brexit and the European Financial System
Report

Brexit and the European Financial System

Mapping Markets, Players and Jobs

Bruegel, 2017

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Editorial Rating

8

Qualities

  • Analytical
  • Innovative
  • Well Structured

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.

Take-Aways

  • Major global finance firms based in London will need to move some 30,000 jobs to the remaining European Union member countries (the EU27) after Brexit.
  • Better-integrated EU financial markets could function with multiple financial hubs.
  • Frankfurt, Paris, Dublin and Amsterdam are the top picks as centers for wholesale markets in foreign exchange, securities and derivatives trading.

About the Authors

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


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