Paris wants to become the first European financial site
French authorities dream that Brexit will allow Paris to take away the London leadership
After the negotiation between the United Kingdom and the European Union carried out due to Brexit, it remains to be seen if London should lose access to European markets, so far London remains the first European financial place and Paris, the nation with intentions of occupying that position.
For their part, French authorities dream that Brexit will allow Paris to take away its leadership, as expressed by the French Minister of Economy, Bruno Le Maire, who said this week that “Paris is becoming the first financial place” on the continent.
Making this decision will not be an easy task because financial services represent 7% of British gross domestic product (GDP) and are essentially concentrated in London, where direct work is provided to 250,000 people, while in the French capital there are 180,000 jobs and although this figure is below the previous one it is considered a representative number.
The general director of Paris Europlace, Arnaud de Bresson, adds that Paris occupies the first position of the new European Union reduced to 27 member countries by Brexit, well ahead of 70,000 in Frankfurt, 30,000 in Dublin and many others in Luxembourg.
In addition, de Bresson asserts that Paris is not only a leader in continental Europe in terms of market capitalization, but also as an asset management center, in the derivatives business and in the insurance market.
K.Villarroel
Source: lavanguardia
