Brexit may not lead to ‘new dominant location’ for European finance – Irish governor
Regulatory considerations should not drive firms’ location decisions, Lane argues
The UK's withdrawal from the European Union ('Brexit') will probably not lead to another city taking London's place as Europe's financial centre, the governor of Ireland's central bank said on October 28.
It was "unlikely that financial activity will cluster in a single location in the euro area, since no individual location offers a close substitute to London", Philip Lane told an audience in Dublin. It was "an open question" whether the decentralisation of European finance after Brexit "will
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