London's Financial Center to Suffer From Brexit in Short-Term but the Long-Term Outlook Is Positive
What will the European banking and capital markets systems look like after Brexit?
London's financial center is likely to suffer from the impacts of Brexit in the short-term, but the longer-term outlook is more positive, according to Arnaud de Bresson, CEO of Paris Europlace.
"In the short-term London will lose part of its activities and its jobs - Paris is very well positioned because it is the number one financial center in the European Union," he said. "In the longer-term, our view is that all of this evolution will be favorable to develop the European capital markets as a whole - they will become bigger for the interests of Paris, but also for the interests of London."
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