日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

Global EditionASIA 中文雙語Fran?ais
World
Home / World / Europe

Brussels gunning for London's financial hub status

By EARLE GALE in London | China Daily Global | Updated: 2021-01-27 09:35
Share
Share - WeChat
A bus drives on an almost empty street in the financial district of London on July 17, 2020. [Photo/Agencies]

The European Union will do all it can to ensure London ceases to be the continent's dominant financial market, a former British minister has warned.

Jonathan Hill, who is now leading a British government-ordered review of London's future as a financial center, told the Financial Times that Brussels wants to develop its own financial center.

Hill, who was an EU financial services commissioner before the UK left the bloc, told the paper Brussels is, therefore, highly unlikely to grant the UK the right to do business as if it were still a member, an arrangement known as passporting.

"Given that their strategy is to build up the EU, why on earth would they?" he said. "The EU will not do us any favors."

Hill, who is a member of the UK's ruling Conservative Party, is working on proposals to revitalize the UK's financial sector that are due next month. They will likely include updated stock market listings aimed at attracting fast-growing companies and technology enterprises.

The future of the UK's financial sector within the EU is uncertain because the trade deal agreed by London and Brussels late last year excludes the sector. The two sides have simply agreed that decisions about access to each other's markets will be based on whether there are equivalent regulatory systems.

The Financial Times notes that London is seeking access to around 40 financial services areas. So far, the EU has granted access to two.

But, despite the bad news for London in terms of future access to EU markets, Hill said the UK will continue to be a dominant financial market beyond the EU's borders because of its ability to move fast to attract companies in new industries, including digital, fintech, and green finance.

"We should be able to do this quicker, more proportionately, more flexibly, than you can at EU27," he said.

He noted that it was heartening that no other EU-based financial market has, so far, usurped London, despite the UK's referendum decision to leave the bloc having created "four and a half years of political paralysis".

He said financial business that has left the UK has settled in cities, including Amsterdam, Brussels, Frankfurt, Paris, and Dublin.

Because no single EU venue has emerged, he said London's competitors are Asia and the United States.

Bloomberg, meanwhile, reports that the EU has made things difficult for London-based financiers.

The business news specialist reported on Tuesday that TP ICAP Plc, the world's largest interdealer broker, had complained it had been prevented from serving all of its EU clients because it had not completed a planned relocation of staff to Paris.

The disclosure was followed by a warning from a member of the European Central Bank's executive board who said UK-based banks will need a presence in the EU if they are to do business there.

"It is essential that we continue to push banks that have relocated to the euro area to allocate enough staff and assets to their new structures," Frank Elderson said in the European Parliament.

Mairead McGuinness, the EU's financial services commissioner, said on Bloomberg TV last week that the realities of Brexit have "come home to roost" for London.

After the UK capital lost 6.3 billion euros ($7.7 billion) in daily stock trades to the EU on Jan 4 alone, consultancy EY estimated companies had moved around 7,500 employees and at least $1.6 trillion of assets from the UK to the EU because of Brexit.

Most Viewed in 24 Hours
Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 久热中文字幕在线精品首页 | 素人视频在线观看免费 | 欧美一级二级三级 | 性福利影院 | 4438激情网 | 久久精品美女 | 亚洲欧美国产精品久久久久久久 | 色天天天天综合男人的天堂 | 国产玖玖 | 日韩成人在线观看 | 久久国产影院 | 一级毛片丰满 出奶水 | 色在线视频网站 | 天天色播| 亚洲一区二区三区在线 | 欧美一级片| 国产福利不卡视频在免费播放 | 国产欧美一区二区三区在线看 | 毛片一区二区 | 欧美日本免费一区二区三区 | 777久久婷婷成人综合色 | 999宝藏网| 日韩在线免费视频 | 国产高清在线精品免费 | 梦中人在线观看免费完整版 | 精品久久久爽爽久久久AV | 性少妇videosexfreexx入片 | 色婷婷成人做爰A片免费看网站 | 亚洲免费福利 | a级欧美片免费观看 | www.热| 国产精品久久久一区二区三区 | 亚洲欧美v国产一区二区 | 91成人在线 | 三级国产短视频在线观看 | 精品视频一区二区三区在线播放 | 日韩欧美一区二区三区免费观看 | 黄色国产视频 | 久综合网| 精品国产不卡一区二区三区 | 亚洲黄色色图 |