RE: The American dream...................2 Jan 2022 15:10
A year since Britain severed ties with the bloc, the economic cost of Brexitis becoming clearer — and voters are noticing. One consequence is the growth of the EU’s finance hubs. Paris has become the bloc’s top trading hub, while Frankfurt, Dublin and Amsterdam are also emerging as hives in their own right, for different specialisms.
Still, Covid lockdowns are delaying how fast staff are relocating from London to the Continent, according to EY’s Financial Services Brexit Tracker. “The financial sector is still working through the hangover of Brexit,” said Omar Ali, EY’s head of financial services for Europe, the Middle East, India and Africa.
Before his resignation, Frost told the U.K. House of Lords that talks to give U.K. financial firms access to the EU’s single market after Brexit had been put on hold, kicking equivalence talks into 2022.
source - Bloomberg