UK Economics

Britain WILL remain the financial centre of Europe despite Brexit, pro-EU banker claims

BRITAIN will still be Europe’s financial hub for at least the next decade despite voting to leave the European Union, according to a pro-Brussels banker.


London will remain the financial hub of Europe

John Cryan said that despite the pre-Brexit doom-mongering that the UK’s financial sector would nosedive as a result of leaving the EU, Britain’s capital will continue to be the banking centre.The English head of German giant Deutsche Bank was initially against Brexit in the run-up to the referendum but has now changed his opinion.The banking boss has argued that London’s role will be “very different” but will remain at the centre of world finance.

We really need to follow our customers. In some areas London is our biggest trading hub

John Cryan

He said: “We really need to follow our customers. In some areas London is our biggest trading hub.”Mr Cryan also ordered the EU to re-engage with its citizens and become relevant to the 21st century.He has also joined the long list of experts to claim the EU must reform in the wake of Brexit and criticised the European Central Bank’s move to negative interest rates.

John CryanGETTY

John Cryan said Britain could remain the financial hub for the next decade

But the Deutsche Bank boss said some business could be redirected to the continent, especially trading related to the Euro.It comes as Theresa May addressed her cabinet and set out her plans to leave the European Union.The Tory boss ruled out a second referendum and said curbing the number of EU migrants entering Britain is non-negotiable.

She said: “We’ll be looking at the next steps that we need to take, and we’ll also be looking at the opportunities that are now open to us as we forge a new role for the UK in the world.”We must continue to be very clear that ‘Brexit means Brexit’, that we’re going to make a success of it.


May spoke at Chequers yesterday about the future of Brexit

Mrs May said “quite a lot of work” had already been done over the summer on preparing the way for exit negotiations under Article 50 of the EU treaties.She told colleagues it was “a very significant moment for the country, as we look ahead to the next steps that we need to take”.

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