It has been revealed by a senior banker in Germany that
Europe is on the brink of becoming entrapped in battle should 200,000 bankers
relocate from London post-Brexit.
This was made known to Bloomberg News by a member of board
at Deutsche Bundesbank Andreas Dombret, warning that banks had to be
"very, very, very careful" as Brexit nears. The warning was issued
after it was predicted that about 200,000 banker "could flee" London
if the City loses passport rights after Brexit.
In a similar vein, JP Morgan and Goldman Sachs have announced
plans this week to transfer hundreds of their London staff to Frankfurt,
Luxembourg and Dublin.
The banker said: "We have to be very very very careful
that we don’t have a regularity race in the eurozone with one country trying to
market its financial centre over others and making promises it cannot keep.
"We need to resolve this - or else this presents a
major stability risk for Germany."
This scenario would mean a fight between EU countries to be
the financial capital of the continent.
However, Mr Dombret confirmed that London "will remain
an important financial centre and a big proportion of their HR force will
stay".
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