The Guardian: Brexit Could Cost London Over 230,000 Finance Jobs

[kreslik.news]

It is estimated that Brexit could trigger over than 230,000 job losses in Britain’s financial services sector if euro clearing shifts to continental Europe and full access to the bloc’s single market is lost, according to top industry officials.

London is currently the world’s biggest hub for clearing euro-denominated financial contracts but some continental policymakers want this shifted to the eurozone after the Brexit.

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Clearing

As per a report in The Guardian, Xavier Rolet, Chief Executive of the London Stock Exchange, said that the Brexit could have ... (read more)