France will likely win Britain's financial services crown in the European U...
LONDON - France will likely win Britain’s financial services crown in the European Union after Brexit, which leaves the bloc’s economy more reliant on struggling euro zone banks, New Financial think tank said on Tuesday.
Swathes of EU capital markets activity will effectively be based offshore in the UK, particularly in sectors such as trading and asset management. New Financial said Britain accounts for nearly a third of all EU capital market activity, more than France and Germany combined. France and Germany will have a “duopoly” in 21 out of 24 activities like derivatives trading, banking, venture capital and forex trading, with France the largest in many of the most important sectors.
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