The tiny financial centres of the Eurozone have been rubbing their hands since the British chose to leave the EU, positioning themselves in order to recuperate significant market shares of the City’s activity.
A recent study made by the Brussels think-tank Bruegel proposes two scenarios of possible gains for a number of financial centres, depending on whether the EU27 succeeds in integrating a network of European financial centres or results in a fragmentation of the European financial market.
The financial centres identified as likely to get a share from London’s financial activity are mainly Frankfurt, Paris, Dublin and Amsterdam. Of the 30% of the European market that technically must get a share of the continental places,
. in the event of a fragmentation, Frankfurt could share 45% with Paris (20%), Dublin (15%), Amsterdam (10%) and other places (Luxembourg, Rome and Madrid, in particular) (10%);
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